Minimum Monthly PSL Tranche definition

Minimum Monthly PSL Tranche means a PSL Tranche of PSL Revenues determined by the Purchaser to be sufficient to cover the Purchaser’s monthly debt service (using the Assumed Interest Rate) for Loans made under the Credit Agreement to fund the purchase of the PSL Tranches of PSL Revenues and related costs, which Loans will be recorded as such and monitored as set forth in the Deposit and Disbursement Agreement.

Examples of Minimum Monthly PSL Tranche in a sentence

• The Seller agrees to deliver to the Purchaser (with a copy thereof delivered to the Calculation Agent and the Collateral Agent) a Notice of Sale once per calendar month and, pursuant to such monthly Notice of Sale, the Seller shall sell to the Purchaser a PSL Tranche equal to or greater than the Minimum Monthly PSL Tranche plus the Processing Costs PSL Tranche.

• The Seller hereby represents that, based on the information provided by the Purchaser or the Collateral Agent, that the total PSL Tranche to be sold to the Purchaser on the Purchase Date is equal to or greater than such Minimum Monthly PSL Tranche.

• In the event that the Seller fails to deliver such monthly Notice of Sale on or before the [ ] calendar day of any month, the Seller shall be deemed to have sold to the Purchaser the Minimum Monthly PSL Tranche plus the Processing Costs PSL Tranche on such date.

• The Purchaser shall provide to the Seller on or before the [ ] calendar day of each month, the Minimum Monthly PSL Tranche required for the current month.

• The Purchaser shall provide to the Seller on or before the twentieth (20th) calendar day of each month, the Minimum Monthly PSL Tranche required for the current month.

• In the event that the Seller fails to deliver such monthly Notice of Sale on or before the twentieth (20th) calendar day of any month, the Seller shall be deemed to have sold to the Purchaser the Minimum Monthly PSL Tranche plus the Processing Costs PSL Tranche on such date.

• The Purchaser shall provide to the Seller on or before the [[ ]]twentieth (20th) calendar day of each month, the Minimum Monthly PSL Tranche required for the current month.

• In the event that the Seller fails to deliver such monthly Notice of Sale on or before the [[ ]]twentieth (20th) calendar day of any month, the Seller shall be deemed to have sold to the Purchaser the Minimum Monthly PSL Tranche plus the Processing Costs PSL Tranche on such date.