Enforcement Principal Priority of Payments definition

Enforcement Principal Priority of Payments. On each Payment Date prior to the Current Issuer Security becoming enforceable pursuant to Clause 7.2 (Enforceable), the Note Trustee hereby authorises the Current Issuer or the Current Issuer Cash Manager in its place to withdraw Current Issuer Available Principal Receipts standing to the credit of the Current Issuer Transaction Accounts and to apply such monies in accordance with the order of priority of the Current Issuer Pre-Enforcement Principal Priority of Payments (as the same may be amended or varied from time to time) as set out in Schedule 2 (Cash Management and Maintenance of Ledgers) to the Current Issuer Cash Management Agreement.
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Enforcement Principal Priority of Payments means the Funding 1 Pre-Enforcement Principal Priority of Payments or the Funding 2 Pre-Enforcement Principal Priority of Payments, as applicable;
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Enforcement Principal Priority of Payments means the order of priority in which, prior to enforcement of the Funding 1 Security, the Cash Manager will apply the Funding 1 Available Principal Receipts on each Funding 1 Interest Payment Date, as set out in Part 2 of Schedule 3 to the Funding 1 Deed of Charge;
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Examples of Enforcement Principal Priority of Payments in a sentence

  • The Issuer shall be obligated to purchase and acquire Additional Receivables for purposes of a replenishment only to the extent that the obligation to pay the Principal Component Purchase Price on such Subsequent Purchase Date can be satisfied in whole (but not in part) by the Issuer by applying the Available Principal Amount in accordance with item second of the Pre- Enforcement Principal Priority of Payments.

  • Payments in respect of the X Notes will be payable only to the extent there are: (i) Available Revenue Funds under and in accordance with the Pre-Enforcement Revenue Priority of Payments; (ii) in respect of principal on the X Notes, Available Principal Funds under and in accordance with the Pre- Enforcement Principal Priority of Payments; or (iii) available funds under and in accordance with the Post-Enforcement Priority of Payments, if applicable.

  • The Liquidity Reserve Fund will be established on the Closing Date and will be funded on each Interest Payment Date in accordance with the Pre- Enforcement Principal Priority of Payments up to the Liquidity Reserve Fund Required Amount.

  • Deadline for Submission of Bids Second Stage Bids must be received by the Employer at the address and no later than the date and time indicated in the BDS.

  • On and from the Closing Date and up to (and including) the earlier of the Class B Redemption Date and the Final Maturity Date, the Class B Liquidity Reserve Fund will be further funded in accordance with item (3) of the Pre- Enforcement Principal Priority of Payments up to the Class B Liquidity Reserve Fund Required Amount and Class B Liquidity Reserve Fund Actual Amounts will be utilised to meet any shortfall in Available Revenue Receipts to pay interest due and payable on the Class B Notes.

  • Provided that no Enforcement Notice has been served in accordance with Condition 10, the Issuer shall on each Notes Payment Date apply the Available Principal Funds in accordance with the Pre- Enforcement Principal Priority of Payments.

  • Available Revenue Receipts and Available Principal Receipts of the Issuer:The Cash Manager will apply Available Revenue Receipts and Available Principal Receipts on each Interest Payment Date in accordance with the Pre-Enforcement Revenue Priority of Payments and the Pre- Enforcement Principal Priority of Payments respectively, as set out below.

  • The Issuer will also apply Available Principal Receipts in accordance with item (a)(vi) of the Pre- Enforcement Principal Priority of Payments to eliminate (to the extent possible) remaining New Portfolio Purchase Price Shortfall Amounts on the New Portfolio Purchase Price Ledger on any Interest Payment Date as at that Interest Payment Date.

  • Figures are reported every quarter to the Executive in our Highways Maintenance Performance Dashboard and the latest version for Q1 of 2015/16 shows that the amount of reactive revenue expenditure remains low, at 0.75% of expenditure in comparison to 1.30% in Q1 2014/15 reflecting the continual improvements in packaging planned revenue activities to repair defects, alongside the additional capital expenditure which is helping to improve road condition and reduce the number of emergency repairs.

  • The only consequences of the occurrence of a Class A2 Deficit Event of Default are that (a) available funds of the Issuer will be applied in accordance with the Class A2 Deficit Event of Default Priority of Payments rather than the Pre- Enforcement Principal Priority of Payments and (b) Class A2 Penalty Interest will become payable on amounts representing the relevant Class A2 Scheduled Payment Deficit.

Related to Enforcement Principal Priority of Payments

  • Post-Enforcement Priority of Payments means the order of priority pursuant to which the Guarantor Available Funds shall be applied on each Guarantor Payment Date, following the delivery of a Guarantor Default Notice, in accordance with the Intercreditor Agreement.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Second Priority Principal Payment means, for a Payment Date, the greater of:

  • First Priority Principal Payment means, for a Payment Date, the greater of:

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Swap Collateral means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, including, without limitation, any transfer or termination of any such Transaction.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Senior Collateral Documents means the Security Agreement and the other “Security Documents” as defined in the Credit Agreement, the Pari Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Senior Priority Obligations means the Original First Lien Obligations and any Additional Obligations constituting Senior Priority Debt.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Priority Lien Obligations means Priority Lien Debt and all other Obligations in respect thereof.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Collateral Monthly Principal means the monthly principal distributable in respect of the Collateral Interest as calculated in accordance with subsection 4.07(c).

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Basic Collateral Agency Agreement means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co., as collateral agent, and MBFS USA, as lender and as servicer.

  • Guarantor Collateral all of the property (tangible or intangible) purported to be subject to the lien or security interest purported to be created by any mortgage, deed of trust, security agreement, pledge agreement, assignment or other security document heretofore or hereafter executed by any Guarantor as security for all or part of the Obligations or the Guarantees.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.