Facility Deficiency definition

Facility Deficiency means, at any time, that either: (i) the Class A Facility Limit is less than the aggregate outstanding principal balance of the Class A Notes, or (ii) the Facility Limit is less than the Facility Amount; an amount equal to the amount of such deficiency, respectively.
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Examples of Facility Deficiency in a sentence

  • If any Facility Limit Certificate indicates the existence of a Facility Deficiency, the Borrower shall on the date of delivery of such Facility Limit Certificate prepay to the Lenders, for the account of the Lenders, a portion of the Loans, to the extent necessary to cure such Facility Deficiency, in accordance with Section 2.04(c) hereof.

  • If any Monthly Remittance Report indicates the existence of a Facility Deficiency, the Borrower shall, on the date of delivery of such Monthly Remittance Report, prepay to the Lenders, for the account of the Lenders, a portion of the Loans as is necessary to cure such Facility Deficiency, in accordance with Section 2.04(c) hereof.

  • With respect to Holders of Allowed General Unsecured Claims and Allowed Prepetition Revolving Credit Facility Deficiency Claims, in addition to such other treatment and distributions such Holders are entitled to receive under Article III.B.4 and Article III.B.5 hereof, respectively, each such Holder shall receive its Pro Rata share of Litigation Trust Interests on the Effective Date.

  • Class 5 consists of the LandCo Credit Facility Deficiency Claims.

  • Holders of Allowed OpCo Credit Facility Deficiency Claims, in full, final, and complete satisfaction of the rights that such Claims represent as against but only as against the OpCo Debtors and not in satisfaction of any amount owed to the Holders of OpCo Credit Facility Deficiency Claims by any obligor or guarantor under the OpCo Credit Facility that is not an OpCo Debtor, shall receive their Pro Rata share of the OpCo Lenders Litigation Trust Proceeds.

  • Any Litigation Trust Proceeds to be distributed to the Holders of Allowed LandCo General Unsecured Claims, Allowed LandCo Credit Facility Deficiency Claims, or Allowed Insider Claims against the LandCo Debtors shall be kept in the Litigation Trust Reserve until such time as a LandCo Plan is confirmed and becomes effective providing for such distributions from the Litigation Trust.

  • Fifth, if an Other Residual Financing Facility Deficiency shall have occurred and be continuing, to the Other Residual Financing Facility Lender for amounts due and unpaid pursuant to the Other Residual Financing Agreement.

  • Therefore, Holders of Allowed Prepetition Revolving Credit Facility Deficiency Claims are entitled to vote to accept or reject the Plan.

  • Each holder of an Allowed Class 7 Claim (other than a holder of an OCM Facility Deficiency Claim) shall receive its Pro Rata share of the Unsecured Creditor Distribution, distributable from the Unsecured Creditor Distribution Escrow Account in accordance with the terms hereof.

  • Class 4B consists of any Prepetition Revolving Credit Facility Deficiency Claims.

Related to Facility Deficiency

  • Gas Supply Deficiency means any occurrence relating to Sellers gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Sellers gas supply.

  • Advance Deficiency As defined in Section 4.01(b).

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Xxxxxx, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Accumulated Funding Deficiency has the meaning ascribed to that term in Section 302 of ERISA.

  • Funding Default as defined in Section 2.22.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Operating Deficit means that, at the end of the fiscal year, the unassigned fund balance in the General Fund is less than zero.

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Net Proceeds Deficiency shall have the meaning set forth in Section 6.4(b)(vi) hereof.

  • Credit Default Swap means any credit default swap entered into as a means to (i) invest in bonds, notes, loans, debentures or securities on a leveraged basis or (ii) hedge the default risk of bonds, notes, loans, debentures or securities.