Payment Shortfall definition

Payment Shortfall for a Payment Facility, means:

Payment Shortfall has the meaning assigned thereto in Section 15(a) hereof.

Payment Shortfall has the meaning set forth in ‎Section 3.05(e).

Examples of Payment Shortfall in a sentence

• Any Accelerated Payment Shortfall Notice shall be delivered by 2:00 p.m. Eastern time, on the Business Day preceding such Distribution Date.

• Such Accelerated Payment Shortfall Notice shall direct the Collateral Agent to remit such Accelerated Payment Amount Shortfall to the Trust Collateral Agent (to the extent of funds available to be distributed in the Spread Account) for deposit in the Collection Account on the related Distribution Date.

• That portion of any Capacity Payment Shortfall which is not recovered in any month shall be carried over to each subsequent month thereafter until recovered by Buyer in full from Seller.

• The Capacity Payment Shortfall shall be increased by interest at the Prime Rate divided by 365 on the maximum amount of the Capacity Payment Shortfall on that day and shall be recovered by Buyer as a credit against the otherwise applicable Monthly Capacity Payment owed to Seller in any following month and by drawing on the Carry-Over-Letter of Credit as provided below.

• Such Accelerated Payment Shortfall Notice shall direct the Collateral Agent to remit such Accelerated Payment Amount Shortfall (to the extent of funds available to be distributed in the Spread Account) to the Trust Collateral Agent for deposit in the Collection Account on the related Distribution Date.

More Definitions of Payment Shortfall

Payment Shortfall has the meaning given in the Auction Procedures. Prudential Exposure, for the Auction Participant at any time, means the amount of its actual or contingent liability calculated by AEMO under clause A.6.8 or clause A.9 (as applicable).

Payment Shortfall shall have the meaning set forth in Section 2.06.

Payment Shortfall has the meaning in Section 1(e) of Exhibit F.

Payment Shortfall means, on a Determination Date, the amount by which the Available Income is insufficient to meet the Required Payments as calculated on that Determination Date.

Payment Shortfall means (i) with respect to any Simple Interest Receivable and any Collection Period, the excess of (A) the product of (1) one-twelfth of the Contract Rate of such Receivable and (2) the Principal Balance of such Receivable as of the related Settlement Date (or, in the case of the first Collection Period, as of the Cutoff Date) over (B) the amount of interest, if any, collected on such Receivable during the related Collection Period and (ii) with respect to any Precomputed Receivable and any Collection Period, the excess of (A) the Scheduled Payment due on such Precomputed Receivable during the related Collection Period over (B) the amount with respect to such payment collected on such Receivable (including any Applied Paid-Ahead Amounts with respect to such Collection Period).

Payment Shortfall has the meaning set forth in Section 1.06(a). “Payment Surplus” has the meaning set forth in Section 1.06(b). “Permitted Liens” means (i) statutory Liens for current Taxes or other governmental charges not yet due and payable or the amount or validity of which is being contested in good faith by appropriate proceedings by any Acquired Entity, (ii) mechanic’s, construction, carriers’, workers’, repairers’ and similar statutory Liens arising or incurred in the Ordinary Course of Business for amounts not yet due and payable or the amount or validity of which is being contested in good faith by appropriate proceedings by any Acquired Entity, (iii) zoning, entitlement, building and other land use regulations imposed by any Governmental Entity having jurisdiction over the Leased Real Property or the Owned Real Property which are not violated by the current use and operation of the Leased Real Property or the Owned Real Property, (iv) covenants, conditions, restrictions, easements, rights of way, agreements with municipalities or public utilities and other similar matters of record affecting title to the Leased Real Property or the Owned Real Property which do not materially impair the occupancy or use of the Leased Real Property or the Owned Real Property for the purposes for which it is currently used or proposed to be used in connection with the Acquired Entities’ businesses, (v) minor title defects or irregularities, easements, covenants, zoning ordinances or rights of way and similar encumbrances, restrictions in the original grant from the Crown, in each case which are not violated by the current use and operation of the Leased Real Property or the Owned Real Property if such restrictions have been complied with, (vi) matters which would be disclosed by an inspection or accurate survey of each parcel of real property, (vii) purchase money Liens and Liens securing rental payments under capital lease arrangements, (viii) licenses of Intellectual Property entered into in the Ordinary Course of Business, (ix) other Liens arising in the Ordinary Course of Business and not incurred in connection with the borrowing of money, (x) any Liens that will be released at or prior to the Closing, (xi) if Buyer elects not to have repaid and terminated at the Closing the FMS Loan Agreement and its associated arrangements in accordance with Section 6.10(b), liens arising in connection with the FMS Loan Agreement and other Loan Documents (as defined therein) and (xi) those mat...

Payment Shortfall means, in relation to a Collection Period, the amount (if any) by which the Total Payments for that Collection Period exceed the Available Income for that Collection Period.