Final Equity Payment definition

Final Equity Payment is a payment to a Relocating Employee of an amount equal to the excess, if any, of (i) the Sale Contract Price for such Relocating Employee’s Origination Home minus (ii) the amount owed in respect of any Adverse Claims (including mortgages and deeds of trust) on such Origination Home minus (iii) the outstanding balance of any Equity Advances in respect of such Origination Home, provided that the related Originator shall be entitled to be reimbursed for the amount of such payment by the related Employer under the terms of an Eligible Relocation Services Agreement.
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Final Equity Payment is a payment to a Relocating Employee of an amount equal to the excess, if any, of (i) the Sale Contract Price for such Relocating Employee’s Origination Home minus (ii) the amount owed in respect of any Adverse Claims (including mortgages and deeds of trust) on such Origination Home minus (iii) the outstanding balance of any Equity Advances in respect of such Origination Home, provided that the related Originator shall be entitled to be reimbursed for the amount of such payment by the related Employer under the terms of an Eligible Relocation Services Agreement. For the avoidance of doubt, it is understood and agreed that a Relocation Services Agreement (whether or not an Eligible Relocation Services Agreement) that would be characterized as a “fixed fee” arrangement in accordance with the Master Servicer’s customary practices prior to the date hereof does not give rise to such a reimbursement obligation.
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Examples of Final Equity Payment in a sentence

  • If the Final Equity Payment calculation results in a negative amount, Seller will pay the deficiency within to GMAC GRS within ten (10) days of receiving notice of the deficiency, with the deficiency amount to be adjusted on a pro-rata basis until the payment is received.

  • Any amount so advanced will be deducted from the Final Equity Payment (as hereafter defined).

  • If Seller has not given GMAC GRS at least fifteen (15) days notice of the Vacate Date, payment of Seller’s Final Equity Payment will be made as soon as practicable after the Vacate Date.

  • Disputed Claims shall be resolved in accordance with section 9 hereof and, if a Disputed Claim becomes an Allowed Claim by Final Order, distributions shall be made on account of such Claim in accordance with section 8 hereof.

  • Such payments shall not affect the computation of the Final Equity Payment set forth in paragraph 16.

  • Once the Final Equity Payment is made, the promissory note will be cancelled.

Related to Final Equity Payment

  • Payment Amount as defined in Section 3.5.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A.

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Delta Payment means as it is described in this Agreement.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Completion Payment means the payment for the 20% of the Charges for each Apprenticeship that under the ESFA Rules is only paid once an Apprentice takes their end point assessment, including as the case may be Apprenticeships funded by Transferred Levy Funds;

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Earnout Amount has the meaning provided in Section 2.9(b).

  • Cash Exchange Payment means an amount in cash equal to the product of (i) the number of shares of Class A Common Stock into which the surrendered Paired Interests are exchangeable and (ii) the VWAP of the Class A Common Stock for the five consecutive full Trading Days immediately prior to the date of delivery of the relevant Notice of Exchange.

  • Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.

  • Earnout Payments has the meaning set forth in Section 2.2(a).

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Total Equity Value means, as of any date of determination, the aggregate proceeds which would be received by the Unitholders if: (i) the assets of the Company were sold at their fair market value to an independent third-party on arm’s-length terms, with neither the seller nor the buyer being under compulsion to buy or sell such assets; (ii) the Company satisfied and paid in full all of its obligations and liabilities (including all Taxes, costs and expenses incurred in connection with such transaction and any amounts reserved by the Manager with respect to any contingent or other liabilities); and (iii) such net sale proceeds were then distributed in accordance with Section 4.1, all as determined by the Manager in good faith based upon the Class A Common Stock Value as of such date.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Gross-Up Payment shall have the meaning set forth in Section 6.2 hereof.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Cash Payment has the meaning set forth in Section 2.02(a).

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.