Enforcement Revenue Priority of Payments definition

Enforcement Revenue 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 Revenue Receipts standing to the credit of the Current Issuer Transaction Accounts and to apply such monies in accordance with the provisions and the order of priority of the Current Issuer Pre-Enforcement Revenue 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 Revenue Priority of Payments means the order of priority in which Funding 2 Available Revenue Receipts will be applied prior to the enforcement of the Funding 2 Security as set out in Part 1 of Schedule 4 to the Funding 2 Deed of Charge;
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Enforcement Revenue Priority of Payments. On each Payment Date, prior to the Issuer Security becoming enforceable pursuant to Clause 7.2 (Enforceable), the Issuer Security Trustee hereby authorises the Master Issuer or the Issuer Cash Manager in its place to withdraw Issuer Available Revenue Receipts standing to the credit of the Issuer Transaction Account and to apply such monies in accordance with the provisions and the order of priority of the Issuer Pre-Enforcement Revenue Priority of Payments.
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Examples of Enforcement Revenue Priority of Payments in a sentence

  • The obligation to pay the Class A Excess Consideration is subordinated to payments of a higher order of priority including, but not limited to, any amount necessary to (i) make good any shortfall reflected in the Class A Principal Deficiency Ledger until the debit balance, if any, on the Class A Principal Deficiency Ledger is reduced to zero and (ii) replenish the Reserve Account up to the amount of the Reserve Account Target Level, in accordance with the Pre- Enforcement Revenue Priority of Payments.

  • The Current Issuer shall pay such moneys so receivable by the Current Issuer Cash Manager in accordance with the Current Issuer Pre- Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments, on the dates on which they would otherwise have fallen due hereunder.

  • Prior to the service of an Enforcement Notice, the Class X Notes rank pro rata and pari passu without preference or priority among themselves in relation to payment of interest and principal at all times, but subordinate to all payments due in respect of items ranking senior thereto in the Pre- Enforcement Revenue Priority of Payments, as provided in the Conditions and the Transaction Documents.

  • The Fourth Issuer shall pay such moneys so receivable by the Fourth Issuer Cash Manager in accordance with the Fourth Issuer Pre- Enforcement Revenue Priority of Payments or, as the case may be, the Fourth Issuer Post-Enforcement Priority of Payments, on the dates on which they would otherwise have fallen due hereunder.

  • Payments in respect of the Certificates shall only be payable (i) out of residual Available Revenue Funds under the Pre- Enforcement Revenue Priority of Payments (or, after the occurrence of a Redemption Event, residual funds under the Post-Enforcement Priority of Payments, if applicable) and (ii) at any time out of residual Available Principal Funds.

  • Payments in respect of the X1 Notes, the X2 Notes and the X3 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; or (ii) available funds under and in accordance with the Post-Enforcement Priority of Payments, if applicable.

  • The members of the Audit and Valuation Committee shall be elected by the Board annually and serve until their successors shall be duly elected and qualified.

  • On each Funding 2 Interest Payment Date prior to the service of a Master Intercompany Loan Acceleration Notice, the Security Trustee hereby authorises Funding 2 or the Cash Manager on its behalf to withdraw Funding 2 Available Revenue Receipts from the Funding 2 Transaction Account and to apply such monies in accordance with the Funding 2 Pre Enforcement Revenue Priority of Payments set out in Part 1 of Schedule 3 to this Deed.

  • The Seventh Issuer shall pay such monies so receivable by the Seventh Issuer Cash Manager in accordance with the Seventh Issuer Pre- Enforcement Revenue Priority of Payments or, as the case may be, the Seventh Issuer Post-Enforcement Priority of Payments, on the dates on which they would otherwise have fallen due hereunder.

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More Definitions of Enforcement Revenue Priority of Payments

Enforcement Revenue Priority of Payments. On each Monthly Payment Date falling in a Monthly Payment Period, prior to the Issuer Security becoming enforceable pursuant to Clause 6.2 (Enforceable), the Issuer Security Trustee hereby authorises the Master Issuer or the Issuer Cash Manager in its place to withdraw Issuer Available Revenue Receipts standing to the credit of the Issuer Transaction Accounts that have been allocated towards the payments and provisions in respect of amounts due on that Monthly Payment Date in accordance with the rules and the order of priority of the Issuer Pre-Enforcement Revenue Priority of Payments and the provisions of the Issuer Cash Management Agreement and to apply such monies to the making of such payments and provisions.
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Enforcement Revenue Priority of Payments means the Master Issuer Pre- Enforcement Revenue Priority of Payments as defined in the Master Issuer Master Definitions and Construction Schedule; Master Issuer Start-Up Loan means a loan to be advanced by the Master Issuer Start-Up Loan Provider to the Master Issuer on a Closing Date following the Reorganisation Date pursuant to the Master Issuer Start-Up Loan Agreement dated such Closing Date; Master Issuer Start-Up Loan Agreement means each agreement to be entered into on a Closing Date following the Reorganisation Date between, among others, the Master Issuer and the Master Issuer Start-Up Loan Provider pursuant to which the Master Issuer Start-Up Loan Provider will advance a Master Issuer Start-Up Loan to the Master Issuer on such Closing Date; Master Issuer Start-Up Loan Provider means Bank of Scotland, in its capacity as provider of each Master Issuer Start-Up Loan to be advanced to the Master Issuer on a Closing Date following the Reorganisation Date pursuant to a Master Issuer Start-Up Loan Agreement;
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Enforcement Revenue Priority of Payments means the manner and priority of payments in which the Available Revenue Receipts will be applied prior to service of an Enforcement Notice on the Issuer, as set out in Paragraph 8 (Application of Available Revenue Receipts prior to the service of an Enforcement Notice) of Schedule 2 (Cash Management and Maintenance of Ledgers) to the Cash Management Agreement;
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Related to Enforcement Revenue Priority of Payments

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

  • 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.

  • Collateral Agent Fees means the fees due to the Collateral Agent pursuant to the Collateral Agent and Collateral Custodian Fee Letter.

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

  • Priority Tax Claims means Claims of governmental units of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First 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 Second 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, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Collateral Agent Fee Letter means the fee letter between the Collateral Agent and the Borrower setting forth the fees and other amounts payable by the Borrower to the Collateral Agent, the Custodian and the Securities Intermediary under the Facility Documents, in connection with the transactions contemplated by this Agreement.

  • Enforcement Costs means court expenses, reasonable attorney fees of the attorney general, and other reasonable expenses of an executive department that are incurred in relation to enforcement under this part.

  • 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.

  • 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.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Enforcement Expenses shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce indemnification or advancement rights, or an appeal from such action. Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Priority Tax Claim means any Claim of a Governmental Unit of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • Senior Collateral Documents means the Security Agreement and the other “Security Documents” as defined in the Credit Agreement, the First Lien 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 any Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Penalty Charge Notice means a notice served by a Civil Enforcement Officer pursuant to the provisions of section 78 of the 2004 Act and supporting regulations;

  • Penalty Charges means any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest, but excluding any yield maintenance charge or prepayment premium.

  • Collateral Agent Fee means the fee payable to the Collateral Agent in arrears on each Quarterly Payment Date in an amount specified in the Collateral Agent Fee Letter.

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.

  • Supplemental security income means the program authorized under title XVI of the social security act, 42 USC 1381 to 1383f.

  • Facility Charge means one percent (1%) of the Maximum Term Loan Amount.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Penalty Charge means a penalty charge which is payable by virtue of paragraph 3(1) and (2) of Schedule 3 to this Act;

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.