Prefunding Date definition
Examples of Prefunding Date in a sentence
The Pre-funding Account Bank shall notify the Trustee by 10:00 a.m. (Hong Kong time) on the Business Day immediately following the Pre-funding Date upon the failure by the Issuer to pay the Relevant Amount into the Pre-funding Account in accordance with these Conditions.
On each Funding Date and each Prefunding Date, the Debtor shall deposit (or cause to be withheld from proceeds from the issuance of Related Commercial Paper) to the credit of the Reserve Account an amount equal to an amount necessary to fund the Reserve Account to the Re quired Reserve Account Amount.
On the Business Day prior to each Prefunding Date, the Issuer shall provide the Agent and the Insurer with a written notice in substantially the form of Exhibit C (a "Prefunding Notice") setting forth the Issuer's reasonable best estimate of the aggregate amount of Receivables projected to be acquired or originated by UAC and purchased by the Issuer pursuant to the Sale and Purchase Agreement during the period from such Prefunding Date to but not including the next succeeding Prefunding Date.
Subject to the terms and conditions set forth herein, no later than 4:30 p.m. (Charlotte, North Carolina time) on the Prefunding Date on which the Prefunding Deposit is to be made, VFCC or the Investors, as the case may be, shall deposit into the Prefunding Account the Prefunding Deposit.
All such funds shall be deposited at the Administrative Agent’s Office on the Prefunding Date and upon satisfaction of the conditions set forth in Section 4.02, the Administrative Agent shall make all funds so received available to the Borrower on the Closing Date as provided in Section 2.02(b).
To the extent that the Earnings payable hereunder exceed any applicable maximum rate permitted by law, the charge applied under Section 2(a) to the Prefunding shall be deemed at all times since the Prefunding Date to have been equal to the maximum permitted rate, and any amount collected by AFC in excess of the maximum permitted rate shall be credited to payment of the Prefunding and/or other obligations of Client to AFC hereunder or under any other agreement or document between AFC and Client.
On the Business Day prior to each Prefunding Date, the Issuer shall provide the Agent with a written notice in substan tially the form of Exhibit C (a "Prefunding Notice") setting forth the Issuer's reason able best estimate of the aggregate amount of Receivables projected to be acquired or originated by UAC and purchased by the Issuer pursuant to the Sale and Purchase Agreement during the period from such Prefunding Date to but not including the next succeeding Prefunding Date.
Each representation or warranty by the Borrower contained herein or in any certificate or other document furnished by the Borrower pursuant hereto or in connection herewith is true and correct in all material respects on and as of the Prefunding Date, before and after giving effect to the Prefunding to be made on such date and the application of proceeds therefrom, as though made on and as of such date.
On each Funding Date and each Prefunding Date, the Debtor shall deposit (or cause to be withheld from proceeds from the issuance of Related Commercial Paper) to the credit of the Reserve Account an amount equal to an amount necessary to fund the Reserve Account to the Required Reserve Account Amount.
Notwithstanding the preceding sentence, if such purchase price to be paid by the Purchaser for such Prefunded Contracts exceeds the amount of any cash payments paid by the Issuer to the Purchaser on such Prefunding Date for such Prefunded Contracts, then an undivided interest in such Prefunded Contracts in an amount equal to such excess shall be deemed to have been contributed to the Purchaser by Onyx.