Excess Payments definition

Excess Payments has the meaning assigned to such term in Section 2.01.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Excess Payments. With respect to a Due Period, any amounts received on a Mortgage Loan in excess of the Monthly Payment due on the Due Date relating to such Due Period which does not constitute either a Curtailment or a Principal Prepayment or payment with respect to an overdue amount. Excess Payments are payments of principal for purposes of this Agreement.

Excess Payments means payments made to a Participant pursuant to the Plan and the Excess Plan.

Examples of Excess Payments in a sentence

• CHL and the Trustee desire to appoint the Swap Contract Administrator, and the Swap Contract Administrator desires to accept such appointment, to distribute funds received under the Swap Contract to the Trustee and to CHL as provided in this Agreement, and, in the case of a NIM Issuance, to distribute Excess Payments in accordance with the related Swap Excess Assignment Agreement (each as defined below).

• All other Excess Payments shall be permitted to be retained by the Servicer.

• Excess Payments constituting prepayments of principal shall be applied as a prepayment of the Principal Balance of such Contract.

• CHL and the Trustee desire to appoint the Swap Contract Administrator, and the Swap Contract Administrator desires to accept such appointment, to distribute funds received under the Swap Contract and the Swap Guarantee to the Trustee and to CHL as provided in this Agreement, and, in the case of a NIM Issuance, to distribute Excess Payments in accordance with the related Swap Excess Assignment Agreement (each as defined below).

• Excess Payments shall be applied as a prepayment of the Principal Balance of such Contract.

More Definitions of Excess Payments

Excess Payments. With respect to a Due Period, any amounts received on an SBA Loan in excess of the Monthly Payment due on the Due Date relating to such Due Period which does not constitute either a Curtailment or a Principal Prepayment or payment with respect to an overdue amount. Excess Payments are payments of principal for purposes of this Agreement.

Excess Payments has the meaning set forth in Section 1.8(e).

Excess Payments shall have the meaning set forth in Section 3.6(e).

Excess Payments means payments made to a Participant pursuant to the Plan and the Excess Plan. These are amounts that a Participant deferred from the Excess Plan to this Plan which were transferred to this Plan at a time when the amounts were payable under the Excess Plan and held in an Excess Plan Account for the Participant.

Excess Payments means the excess of (A) the aggregate of the cash and fair market value (as determined by the Board of Directors, whose determination shall be conclusive evidence of such fair market value and described in a Board Resolution delivered to the Trustee) of other consideration paid by the Company or any of its Subsidiaries with respect to the shares of Common Stock acquired in a tender or exchange offer over (B) the price of a share of the relevant series of Common Stock (as reported on the principal securities exchange on which such series of Common Stock is listed) on the Trading Day immediately following the completion of the tender or exchange offer multiplied by the number of acquired shares.

Excess Payments shall have the meaning set forth in Section 1.9(d) of the Agreement.

Excess Payments has the meaning specified in Section 4.09. ---------------