Guaranteed Payment definition

Guaranteed Payment for each Class of Notes and any Payment Date means the sum of (i) the related Guaranteed Principal Payment Amount plus (ii) the related Aggregate Investor Interest for the Payment Date.

Guaranteed Payment means, for each Lease that is a TRAC Lease included in the Series 2014-1 SUBI, the amount fixed by the related Obligor and the Titling Trust, at the inception of such Lease to be owed by the related Obligor to the lessor at the expiration of the term of such Lease.

Guaranteed Payment for any Payment Date means the sum of (i) the Guaranteed Principal Payment Amount plus (ii) the amount to be distributed to the Holders of the Notes pursuant to Section 8.03(a)(ii) for the Payment Date. "Guaranteed Principal Payment Amount" o for the Notes o on their Scheduled Maturity Date, o means the excess of the outstanding Note Principal Balance (after giving effect to Interest Collections allocable and distributable as principal on the Notes on the Payment Date) over the sum of the amounts on deposit in the Collection Account available to be distributed to the Holders pursuant to Section 8.03(b); o on any Payment Date on or before the Available Transferor Subordinated Amount first increases to zero, o means, if the Available Transferor Subordinated Amount for that Payment Date is less than the highest Available Transferor Subordinated Amount for any preceding Payment Date, is the amount of the excess of the highest Available Transferor Subordinated Amount for any preceding Payment Date over the Available Transferor Subordinated Amount for the current Payment Date; o on any Payment Date after the Available Transferor Subordinated Amount has first increased to zero, o means, if the Available Transferor Subordinated Amount has been reduced to zero or below, the excess of the Note Principal Balance (after giving effect to the distributions of Interest Collections and Principal Collections that are allocable to principal on the Notes on the Payment Date) over the Loan Balance (at the end of the related Collection Period); and o for the Notes on any other Payment Date means zero.

Examples of Guaranteed Payment in a sentence

• In order for the Bank to execute the Guaranteed Payment, the Client-Beneficiary is obliged to provide the Bank with the corresponding payment instruction initiated by the Client-Beneficiary before the end of the Transaction Time of the value date indicated in the relevant Application for Guaranteed Payment.

• By signing each Application for Guaranteed Payment, the Client-Payer assumes the right of the Bank and the Client-Beneficiary to carry out payment transactions from the Special Account Debit (as this term is defined below) on the basis of the payment instructions of the Client-Beneficiary for the execution of the Guaranteed Payment provided for in the relevant Application for Guaranteed Payment.

• The Paying Client has the right to create an unlimited number of Applications for Guaranteed Payment within the amount of the Available Limit of Guaranteed Payments as of the moment of creation of each Application for Guaranteed Payment.

• The payment instruction regarding the execution of the Guaranteed Payment must be submitted to the Bank by means of the Client- Bank System and signed by the Advanced ES (as this term is defined in clause 5.2 of the Agreement) or the Qualified ES (as this term is defined in clause 5.1 of the Agreement) of the authorized representatives of the Client -Beneficiaries specified in the List of Managers.

• The terms and concepts in this clause 5.6 of the Agreement have the following meanings: Used Limit of Guaranteed Payments - the actual amount owed by the Paying Client under the Overdraft plus the sum of all Guaranteed Payments provided for by the relevant Applications for Guaranteed Payment, which have not yet been fulfilled by the Bank.

More Definitions of Guaranteed Payment

Guaranteed Payment means the amount required to be paid to the Trustee pursuant to the Credit Facility, provided that so long as the Credit Enhancement Agreement is the Credit Facility, “Guaranteed Payment” will have the meaning given to that term in the Credit Enhancement Agreement.

Guaranteed Payment means, with respect to any Payment Date and each Class of Notes, the sum of the related Guaranteed Principal Payment Amount and the related Aggregate Investor Interest.

Guaranteed Payment has the meaning given to it in the Adoption Annex.

Guaranteed Payment shall have the meaning set forth in the Credit Enhancement Agreement.

Guaranteed Payment means, for each Lease, the amount fixed by the related Obligor and the Titling Trust, at the inception of such Lease to be owed by the related Obligor to the lessor at the expiration of the term of such Lease.

Guaranteed Payment for any Payment Date means the sum of the amounts set forth in clauses (x) and (y) of the definition of "Credit Enhancement Draw Amount."

Guaranteed Payment for each Payment Date and the Insured Notes means the sum of the Guaranteed Principal Payment Amount and the Aggregate Note Interest for that Payment Date.