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

• 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.

• At the end of each Contract Year, Xxxxx shall be entitled to draw down against the Carry-Over Letter of Credit for the amount the Capacity Payment Shortfall that has not been recovered as of that date.

• The amount of such Carry-Over Letter of Credit shall be adjusted thereafter, at the end of each month, to equal the then- outstanding Capacity Payment Shortfall.

• The amount of such Carry-Over Letter of Credit shall be adjusted thereafter, at the end of each month, to equal the then-outstanding Capacity Payment Shortfall.

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

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 (i) with respect to any Simple Interest Receivable and any Collection Period, the excess of (A) the product of

Payment Shortfall means, with respect to any Contract and any Distribution Date, the excess of (x) the product of (i) one-twelfth of the Contract Rate of such Contract and (ii) the outstanding principal amount of such Contract as of the last day of the second preceding Due Period (or, in the case of the first Due Period ending after the Contract was acquired by the Trust, as of the Cut-off Date) over (y) the amount of interest, if any, collected on such Contract during the related Due Period.