Sources of Payments Sample Clauses

Sources of Payments. If the Tendered Bonds are supported by a Credit Facility, the Paying Agent shall draw upon the Credit Facility the amount necessary to purchase the Tendered Bonds for which the Remarketing Agent has not received the Purchase Price not later than (A) 1:30 P.M. on the Purchase Date for Tendered Bonds that are to be in the Flexible Mode immediately after the Purchase Date, or (B) 4:00 P.M. one (1) Business Day before the Purchase Date for Tendered Bonds that are to be in any other Mode immediately after the Purchase Date. In determining the amount necessary to purchase such Tendered Bonds, the Paying Agent shall take into account any amounts drawn under the Credit Facility pursuant to Paragraph 308(c)(i) to pay interest on such Bonds on the Tender Date. If the Tendered Bonds are not supported by a Credit Facility, the Paying Agent shall not later than (A) 1:30 P.M. on the Purchase Date for Tendered Bonds that are to be in the Flexible Mode immediately after the Purchase Date, or (B) 4:00 P.M. one (1) Business Day before the Purchase Date for Tendered Bonds that are to be in any other Mode immediately after the Purchase Date, notify the Company of the amount necessary to purchase the Tendered Bonds for which the Remarketing Agent has not received the Purchase Price, and the Company shall pay the Paying Agent such amount not later than (A) 3:30 P.M. on the Purchase Date in the case of Tendered Bonds that are to be in the Flexible Mode immediately after the Purchase Date, or (B) 10:00 A.M. on the Purchase Date in the case of Tendered Bonds that are to be in any other Mode immediately after the Purchase Date. The Remarketing Agent shall deliver to the Paying Agent all amounts received by the Remarketing Agent as proceeds of the remarketing of Bonds at or before (A) the close of business on the Purchase Date for Tendered Bonds that are to be in the Flexible Mode immediately after the Purchase Date, (B) 2:00 P.M. on the Purchase Date for Tendered Bonds that are to be in the Weekly Mode immediately after the Purchase Date, or (C) 2:00 P.M. on the Purchase Date for Tendered Bonds that are to be in the Multiannual or Fixed Rate Mode immediately after the Purchase Date. If the Bonds are supported by a Credit Facility and the Remarketing Agent does not deliver to the Paying Agent proceeds of remarketing sufficient, together with amounts received from draws under the Credit Facility, to pay in full the Purchase Price of all Bonds due on the Purchase Date, the Paying Agen...
Sample 1Sample 2
Sources of Payments. The Trustee shall draw upon the Credit Facility the amount necessary to purchase the Tendered Bonds for which the Remarketing Agent has not -41- 45 received the Purchase Price not later than 3:00 P.M., Boston, Massachusetts time one (1) Business Day before the Purchase Date. The Remarketing Agent shall deliver to the Trustee all amounts received by the Remarketing Agent as proceeds of the remarketing of Bonds at or before 10:00 A.M., Boston, Massachusetts time on the Purchase Date. If the Remarketing Agent does not deliver to the Trustee proceeds of remarketing sufficient, together with amounts received from draws under the Credit Facility, to pay in full the Purchase Price of all Bonds due on the Purchase Date, the Trustee shall make an additional draw on the Credit Facility pursuant to Clause (a) of Section 602 and thereafter the Borrower shall be liable for the shortfall.
Sample 1
Sources of Payments. The Remarketing Agent shall cause to be paid to the Paying Agent on the date fixed for purchase of tendered Tax Exempt Bonds, all amounts representing proceeds of the remarketing of such Bonds, such payments to be made in the manner and at the time specified in Section 4.1(d) above. If such amounts, plus all other amounts received by the Paying Agent for the purchase of tendered Tax Exempt Bonds, are not sufficient to pay the principal amount thereof plus the accrued and unpaid interest thereon (if any) to the purchase date, the Paying Agent shall immediately notify the Trustee and the Company of any deficiency. The Company shall deliver or cause to be delivered to the Paying Agent (A) immediately available funds in an amount equal to such deficiency prior to 2:15 p.m., New York City time, on the date set for purchase of tendered Tax Exempt Bonds bearing interest at Daily Rates, (B) immediately available funds in an amount equal to such deficiency prior to 12:00 noon, New York City time, on the date set for purchase of tendered Tax Exempt Bonds bearing interest at Weekly, Monthly or Quarterly Rates, and (C) next day funds in an amount equal to such deficiency prior to 12:00 noon, New York City time, on the date set for purchase of tendered Tax Exempt Bonds bearing interest at Semiannual or Term Rates. All moneys received by the Paying Agent as remarketing proceeds and additional amounts, if any, received from the Company shall be deposited by the Paying Agent in a special trust account to be used solely for the payment of the purchase price of tendered Tax Exempt Bonds and shall not be commingled with other funds held by the Paying Agent or the Trustee.
Sample 1
Sources of Payments. There is no obligation on the Representing Party's part or on any other party to make supplemental payments in addition to those made by the Mortgagor (other than the obligations of the Tenant under the related Credit Lease), and the Credit Lease Loan contains no provisions whereby Monthly Loan Payments may be paid, in whole or in part, from any source other than the Mortgagor (other than from Monthly Rental Payments, by the Tenant under the related Credit Lease and from the Borrower Reserve Fund) nor from funds deposited in any separate account established by the Representing Party, the Mortgagor or any third party on the Mortgagor's behalf;
Sample 1
Sources of Payments. There is no obligation on the applicable Seller's or Bedford's part or on any other party to make supplemental payments in addition to those made by the Mortgagor (other than (a) the obligations of the Tenant under the related Credit Lease and (b) with respect to the USPS Lease Loans listed on Schedule IV, under which there are additional obligors), and the Loan contains no provisions whereby Monthly Loan Payments may be paid, in whole or in part, from any source other than the Mortgagor (other than from Monthly Rental Payments, by the Tenant under the related Credit Lease and from the Borrower Reserve Fund) or from funds deposited in any separate account established by the applicable Seller or Representing Party, the Mortgagor or any third party on the Mortgagor's behalf;
Sample 1

Related to Sources of Payments

  • Methods of Payment Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the Participant elects, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b), to receive the amount payable in generally equal quarterly installments over a period not to exceed ten (10) years. In addition, at least one year before the Payment Date, a Director may change the method of payment previously selected.

  • RATES OF PAYMENT B3.1 Current Contract Rates. Included Timber that is removed by Purchaser and presented for Scaling in the product form stated in A2 shall be paid for at Current Contract Rates determined under this Section. “Current Contract Rates” shall be (a) Flat Rates and (b) Tentative Rates adjusted by the escalation procedures in B3.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.

  • Collection of Payments Borrower authorizes Bank to collect all principal, interest and fees due under each credit created by the Loan Documents by charging Borrower’s deposit account number 4121261853 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.

  • Rates of Pay (a) Employees shall be paid in accordance with the rates of pay negotiated by the Parties of this Agreement. For information purposes, the applicable rates of pay are recorded as Appendix A to this Agreement. (b) The distribution of paycheques shall be done in such a manner that the details of the paycheque shall be confidential.

  • Terms of Payment 16.1 The Supplier shall request for payment by submitting invoice(s), delivery note(s) and any other relevant documents as specified in the SCC to the Procuring Entity. 16.2 Payments shall be made promptly by the Procuring Entity, but not later than thirty (30) days after submission of an invoice by the Supplier, and after the Procuring Entity has accepted it.

  • Proration of Payments If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by application of offset or otherwise, on account of (a) principal of or interest on any Loan, but excluding (i) any payment pursuant to Section 8.7 or 15.6 and (ii) payments of interest on any Affected Loan) or (b) its participation in any Letter of Credit) in excess of its applicable Pro Rata Share of payments and other recoveries obtained by all Lenders on account of principal of and interest on the Loans (or such participation) then held by them, then such Lender shall purchase from the other Lenders such participations in the Loans (or sub-participations in Letters of Credit) held by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; provided that if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery.

  • SOURCE OF PAYMENTS All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, unconditionally guarantees payment and provision of all amounts and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

  • Basis of Payment The basis of payment is identified in Attachment E, Fee Schedule. Reimbursement of costs incurred under a work authorization shall be in accordance with Attachment E, Fee Schedule.

  • Recovery of Payments If Agent pays any amount to a Lender in the expectation that a related payment will be received by Agent from an Obligor and such related payment is not received, then Agent may recover such amount from each Lender that received it. If Agent determines at any time that an amount received under any Loan Document must be returned to an Obligor or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay to Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!