Weekly Settlement Sample Clauses

Weekly Settlement. (a) To minimize the frequency of transfers of funds between the Administrative Agent and each Floor Plan Lender, advances and repayments of Floor Plan Loans will be settled according to the procedures described in this Section 2.15. The Administrative Agent shall, once every seven days (or sooner, if so elected by the Administrative Agent in its discretion), but in each case on a Business Day, (each such day being a “Settlement Date”), distribute to each Floor Plan Lender a statement (the “Agent’s Report”) disclosing as of the immediately preceding Business Day, the aggregate unpaid principal balance of Floor Plan Loans outstanding as of such date, repayments and prepayments of principal received from the Borrowers with respect to the Floor Plan Loans since the immediately preceding Agent’s Report and additional Floor Plan Loans made to the Borrowers since the date of the immediately preceding Agent’s Report. Each Agent’s Report shall disclose the net amount (the “Settlement Amount”) due to or due from the Floor Plan Lenders to effect a Settlement of any Floor Plan Loan. The Administrative Agent’s Report submitted to a Floor Plan Lender shall be, absent manifest error, prima facie evidence of the amount due to or from such Lender to effect a Settlement of any Floor Plan Loan. If the Administrative Agent’s Report discloses a net amount due from the Administrative Agent to any Floor Plan Lender to effect the Settlement of a Floor Plan Loan, the Administrative Agent, concurrently with the delivery of the Administrative Agent’s Report to the Floor Plan Lenders, shall transfer, by wire transfer or otherwise, such amount to such Floor Plan Lender in funds immediately available to such Floor Plan Lender, in accordance with such Floor Plan Lender’s instructions. If the Administrative Agent’s Report discloses a net amount due to the Administrative Agent from any Floor Plan Lender to effect the Settlement of any Floor Plan Loan, then such Floor Plan Lender shall wire transfer such amount, in funds immediately available to the Administrative Agent, as instructed by the Administrative Agent. Unless otherwise agreed by the Administrative Agent, such net amount due from a Floor Plan Lender to the Administrative Agent shall be due by 5:00 p.m. on the Settlement Date if such Agent’s Report is received before 1:00 p.m. and such net amount shall be due by 5:00 p.m. on the first Business Day following the Settlement Date if such Agent’s Report is received after 1:00 p.m.. No...
Sample 1Sample 2See All (9)
AutoNDA by SimpleDocs
Weekly Settlement. In order to minimize the frequency of transfers of funds between Agent and the Lenders, advances and repayments of Loans will be settled according to the procedures described in this Section 2.3(c).
Sample 1Sample 2Sample 3See All (5)
Weekly Settlement. The Lenders and the Agent hereby agree that notwithstanding the requirements of Section 2.10, the Agent shall distribute each Lender's Pro Rata Share of all payments by the Borrowers during any payment Period (as defined below) on the last day of such payment Period. For purposes of this agreement, each "Payment Period" shall begin at 12:01 p.m. on the last Business Day of a week and end at 12:00 noon on the last Business Day of the following week.
Sample 1
Weekly Settlement. For every advance of a Revolving Loan made by Agent on a Business Day for which Agent had not elected a Daily Settlement Date (as defined and provided for in Section 4.2.2), Agent may assume that each Lender will make its Percentage Share of the applicable Revolving Loan available to Agent as of 2:30 p.m., Cincinnati, Ohio time, on the next subsequent Settlement Date unless Agent has been notified by a Lender that the Lender does not intend to make available to Agent the Lender's Percentage Share of the applicable Revolving Loan to be funded under Section 2.5.2(ii) or the Revolving Loan necessary for the payment of checks and other items presented to Agent via the Controlled Disbursement Accounts ("Non-Funding Notice"). For a Non-Funding Notice to be effective as against Agent for (a) the Borrowing Date of any Revolving Loan to be funded under Section 2.5.2(ii) or (b) any Business Day on which any Revolving Loan will be made to a Borrower via its Controlled Disbursement Account (the applicable Borrowing Date being, the "Applicable Funding Date"), Lender must deliver a Non- Funding Notice to Agent: (1) at or before 8:00 a.m., Cincinnati, Ohio time, on the Business Day that is at least one Business Day before the Applicable Funding Date of any Revolving Loan to be funded under Section 2.5.2(ii) or (2) at or before 2:30 p.m., Cincinnati, Ohio time, on the Business Day that is at least two Business Days before the Applicable Funding Date of any Revolving Loan to be made to a Borrower via its Controlled Disbursement Account. Any Non-Funding Notice received after 8:00 a.m. or, as applicable, 2:30 p.m., Cincinnati, Ohio time, will be treated as having been received at the opening of business on the next Business Day. Notwithstanding anything to the contrary in this Section 2.5.3, Agent may assume that each Lender will, under all circumstances, make its Percentage Share of all Revolving Loans made pursuant to Sections 2.3.4 or 3.8.2 available to Agent as of 2:30 p.m., Cincinnati, Ohio time, on the next subsequent Settlement Date.
Sample 1
Weekly Settlement. If Agent has elected weekly settlement procedures, Agent will advise each Lender by telephone (confirmed by telecopier), telex or telecopy by 12:00 noon, Cincinnati, Ohio time, on Thursday (or, upon notice to Lenders, some other day of the week elected by Agent) of each week (the "Weekly Settlement Date") of the amount of each Lender's pro rata share of (i) all Revolving Loans made by Agent, for the benefit of Lenders, since the immediately preceding Weekly Settlement Date; (ii) all payments of principal with respect to Revolving Loans received by Agent in finally collected funds since the immediately preceding Weekly Settlement Date; (iii) the amount of any payments of interest on the Revolving Loans and any payment of fees and other amounts to be paid by Borrowers under the terms of this Agreement to Agent for the account of Lenders which have been received by Agent in finally collected funds since the immediately preceding Weekly Settlement Date; and (iv) the Letter of Credit Exposure of all Letters of Credit issued and, as applicable, canceled since the immediately preceding Weekly Settlement Date. On each Weekly Settlement Date, the party from whom payment is due will make the amount due available to the other party, in immediately available funds, by wire transfer to the other party's account, not later than 2:30 p.m., Cincinnati, Ohio time, so long as the party to whom payment is being made has made all payments required to be made by it under this Agreement to the other party.
Sample 1
Weekly Settlement. 18 Section 3.3 Computation of Obligations Outstanding..............................................21
Sample 1
Weekly Settlement. Section 8.7. Notations
Sample 1
AutoNDA by SimpleDocs

Related to Weekly Settlement

  • Early Settlement (a) Subject to and upon compliance with the provisions of this Section 5.9, Purchase Contracts underlying Units having an aggregate Stated Amount equal to $1,000 or an integral multiple thereof, may, at the option of the Holder thereof, be settled early ("Early Settlement") on or prior to 10:00 a.m. on the seventh Business Day immediately preceding the Stock Purchase Date. In order to exercise the right to effect Early Settlement with respect to any Purchase Contracts, the Holder of the Certificate evidencing the related Units shall deliver such Certificate to the Agent at the Corporate Trust Office duly endorsed for transfer to the Company or in blank with the form of Election to Settle Early on the reverse thereof duly completed and accompanied by payment payable to the Company in immediately available funds in an amount (the "Early Settlement Amount") equal to (A) the product of (i) the Stated Amount of such Units multiplied by (ii) the number of Purchase Contracts with respect to which the Holder has elected to effect Early Settlement, plus (B) if such delivery is made with respect to any Purchase Contracts during the period from close of business on any Record Date next preceding any Payment Date to the opening of business on such Payment Date, an amount equal to the Contract Adjustment Payments, if any, payable on such Payment Date with respect to such Purchase Contracts; provided that no payment shall be required pursuant to clause (B) of this sentence if the Company shall have elected to defer the Contract Adjustment Payments which would otherwise be payable on such Payment Date. Except as provided in the immediately preceding sentence and subject to Section 5.2(d), no payment or adjustment shall be made upon Early Settlement of any Purchase Contract on any Contract Adjustment Payments accrued on such Purchase Contract or on account of any dividends on the Common Stock issued upon such Early Settlement. If the foregoing requirements are first satisfied with respect to Purchase Contracts underlying any Unit at or prior to 5:00 p.m., New York City time, on a Business Day, such day shall be the "Early Settlement Date" with respect to such Unit and if such requirements are first satisfied after 5:00 p.m., New York City time, on a Business Day or on a day that is not a Business Day, the "Early Settlement Date" with respect to such Units shall be the next succeeding Business Day.

  • Payment on Settlement Date On contractual settlement date, the account of the Fund will be charged for all purchased Investments settling on that day, regardless of whether or not delivery is made. Likewise, on contractual settlement date, proceeds from the sale of Investments settling that day will be credited to the account of Fund, irrespective of delivery. Exceptions to contractual settlement on purchases and sales, that will continue to settle delivery versus payment, include real estate, venture capital, international trades, open-ended mutual funds, non standard depository settlements and in-kind trades.

  • Cash Settlement If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.

  • Physical Settlement If Physical Settlement is applicable, then Counterparty shall deliver to Dealer through the Clearance System a number of Shares equal to the Settlement Shares for such Settlement Date, and Dealer shall pay to Counterparty, by wire transfer of immediately available funds to an account designated by Counterparty, an amount equal to the Physical Settlement Amount for such Settlement Date. If, on any Settlement Date, the Shares to be delivered by Counterparty to Dealer hereunder are not so delivered (the “Deferred Shares”), and a Forward Price Reduction Date occurs during the period from, and including, such Settlement Date to, but excluding, the date such Shares are actually delivered to Dealer, then the portion of the Physical Settlement Amount payable by Dealer to Counterparty in respect of the Deferred Shares shall be reduced by an amount equal to the Forward Price Reduction Amount for such Forward Price Reduction Date, multiplied by the number of Deferred Shares.

  • Staggered Settlement If upon advice of counsel with respect to applicable legal and regulatory requirements, including any requirements relating to Dealer’s commercially reasonable hedging activities hereunder, Dealer reasonably determines that it would not be practicable or advisable to deliver, or to acquire Shares to deliver, any or all of the Shares to be delivered by Dealer on any Settlement Date for the Transaction, Dealer may, by notice to Counterparty on or prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on two or more dates (each, a “Staggered Settlement Date”) as follows:

  • PAYMENT AND SETTLEMENT You shall deliver to the Manager on the date and at the place and time specified in the applicable AAU (or on such later date and at such place and time as may be specified by the Manager in a subsequent Wire) the funds specified in the applicable AAU, payable to the order of Xxxxxxx Xxxxx Xxxxxx Inc., for (i) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of the Firm Securities to be purchased by you, (ii) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of such of the Firm Securities to be purchased by you as shall have been retained by or released to you for direct sale as contemplated by Section 3.6 hereof or (iii) the amount set forth or indicated in the applicable AAU, as the Manager shall advise. You shall make similar payment as the Manager may direct for Additional Securities, if any, to be purchased by you on the date specified by the Manager for such payment. The Manager will make payment to the Issuer or Seller against delivery to the Manager for your account of the Securities to be purchased by you, and the Manager will deliver to you the Securities paid for by you which shall have been retained by or released to you for direct sale. If the Manager determines that transactions in the Securities are to be settled through the facilities of DTC or other clearinghouse facility, payment for and delivery of Securities purchased by you shall be made through such facilities, if you are a member, or, if you are not a member, settlement shall be made through your ordinary correspondent who is a member.

  • Final Settlement The Parties agree and acknowledge that this Compromise Agreement shall constitute a final settlement between the Parties. This Compromise Agreement resolves only issues addressed in the Compromise Agreement.

  • Settlement Date For any Option, the second Business Day immediately following the final Valid Day of the Settlement Averaging Period for such Option.

  • Net Share Settlement If Net Share Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant Settlement Date for each such Option, a number of Shares (the “Net Share Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for each such Option, of (i) (a) the Daily Option Value for such Valid Day, divided by (b) the Relevant Price on such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period; provided that in no event shall the Net Share Settlement Amount for any Option exceed a number of Shares equal to the Applicable Limit for such Option divided by the Applicable Limit Price on the Settlement Date for such Option. Dealer will pay cash in lieu of delivering any fractional Shares to be delivered with respect to any Net Share Settlement Amount valued at the Relevant Price for the last Valid Day of the Settlement Averaging Period.

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