Further Contribution definition
Examples of Further Contribution in a sentence
The parties agree that any such Further Contribution received by the Mortgages Trustee from the Seller will be treated as Revenue Receipts and will be distributed to the Beneficiaries on the immediately succeeding Distribution Date in accordance with Clause 10 (Distribution of Revenue Receipts) below.
Upon payment by the Seller to the Mortgages Trustee of such Further Contribution, the aggregate Current Balance of the Mortgage Loans constituting the Trust Property and the Seller Share of the Trust Property shall be increased by an amount equal to the amount of the Further Contribution so made to the Mortgages Trustee.
The parties hereto agree that Principal Receipts received by the Mortgages Trustee from Funding in payment of a Further Contribution in accordance with Clause 4 (Consideration) on any date on which Funding increases the Funding Share of the Trust Property shall be allocable and payable by the Mortgages Trustee to the Seller (in its capacity as a Beneficiary of the Mortgages Trust) as an Initial Consideration on such date whether or not such date is a Distribution Date.
Funding 2 shall pay or shall procure the payment of the amount of any Initial Contribution or Further Contribution to be made by it to the Mortgages Trustee into the Mortgages Trustee Transaction Account.
The Specified Amount and Further Specified Amount shall be paid in cash for value on the Contribution Date and each Further Contribution Date respectively or may take any other form of payment which is acceptable to the Company and, until discharged in accordance with the terms of this agreement, shall for all purposes constitute a debt due for payment by the Contributor on the Contribution Date and each Further Contribution Date as applicable.
Said designation and appointment shall be irrevocable by the Borrower until all Loans, all reimbursement obligations, interest thereon and all other amounts payable by the Borrower hereunder and under the other Loan Documents shall have been paid in full in accordance with the provisions hereof and thereof.
On any Trust Calculation Date in respect of which a Sale Date or a Further Contribution Date has occurred during the immediately preceding Trust Calculation Period, the Cash Manager will calculate (for the sole purpose of making the distributions to be made on the immediately succeeding Distribution Date) the weighted average of the Seller Share Percentages that were calculated previously in respect of each Interim Trust Calculation Period occurring in that immediately preceding Trust Calculation Period.
Upon receipt of the Refinancing Contribution, the Mortgages Trustee shall forthwith pay the Refinancing Distribution to the relevant account of the Recipient Funding Company (in the case of Funding 1, to the Funding 1 GIC Account) on such Further Contribution Date.
The parties hereto agree that Principal Receipts received by the Mortgages Trustee from Funding in payment of a Further Contribution in accordance with Clause 4 (Consideration) on any date on which Funding increases the Funding Share of the Trust Property shall be allocable and payable by the Mortgage Trustee to the Seller (in its capacity as a Beneficiary of the Mortgages Trust) as a Special Distribution on such date whether or not such date is a Distribution Date.
Any such decrease will be calculated on and take effect from the Further Contribution Date or other date on which such Refinancing Distribution or other distribution is paid to the Recipient Funding Company or the Seller (as applicable).