Priority of Payment definition

Priority of Payment means any one of the foregoing;

Priority of Payment means the order in which payments are made to the "Lead Lender" and to the "Lender".

Priority of Payment. Should collected funds (excluding security deposits deposited into trust accounts) be insufficient to satisfy the current debts and obligations of the Project, such debts and obligations shall be paid in the following order: First: third-party debt service payments, ground lease payments, real estate taxes, personal property taxes, betterment assessments and any other charges and liabilities which could become a lien against or result in a forfeiture of the Property; Second: Project payroll, including state and federal payroll taxes; Third: insurance premiums due in connection with insurance maintained in accordance with Section 12; Fourth: charges by utility companies (including, but not limited to, gas electric, water, sewer, garbage and cable television); Fifth: bills and charges, if any, incurred by Manager for Manager's services provided to Owner exclusive of the Management Fee and any other fees due to Manager hereunder (if any); Sixth: the Management Fee; Seventh: other bills and charges of third parties, and any and all claims and demands of third parties and liabilities to third parties relating to the Property or the operation thereof which Owner in its discretion determines to pay from the Operating Account. Where the terms of any loan security agreement with Owner conflict with the terms of this section, the terms of such loan security agreement shall control, provide, the Owner has notified Agent of the existence of any such condition.

Examples of Priority of Payment in a sentence

• Priority of Payment (as applicable)It is hereby understood and agreed that notwithstanding anything contained herein to the contrary that in the event of a claim hereunder which involves more than one interest and/or coverage and/or peril; it shall be at the sole option of the Insured to apportion recovery under this Policy when submitting final proof of loss, subject to the overall amount of claim not exceeding the overall limit of liability contained herein for any one loss.

• A discharge in bankruptcy shall not relieve a person from the penalties and disabilities provided in this chapter.Insufficient Funds – Priority of Payment When Money Deposited10476.

• Subject to the Limit of Liability, payment pursuant to this Priority of Payment of Claims Condition shall fully discharge the Insurer from its obligations under this Section.

• Following the expiration of the Replenishment Period, the Notes will be subject to redemption (subject to the applicable Class Target Principal Amount) in accordance with the Pre-Enforcement Priority of Payment.

• If the amounts realised from the Mortgaged Property for a Series of Notes are not sufficient to make payment of all amounts due from the Issuer in respect of that Series pursuant to the Trust Documents, the Notes and the other Transaction Documents, then no other assets of the Issuer shall be available to meet any resulting shortfall which shall be borne by the parties in accordance with the order of priority in Condition 5 (Transaction Security and Priority of Payment).

More Definitions of Priority of Payment

Priority of Payment means the order in which payments are to be made hereunder to the Assignors and to the Assignees.

Priority of Payment means only legal priorities. The n arrow reading commends i tself on the assumption that it assists a bondholder majority in accessing a payment stream that is value-maximizing in the restructuring context. Payments are the only things that really count with sovereign debt.

Priority of Payment means the order in whicx xxxxxxxx are made to the "Lend Lender" and to the "Lender".

Priority of Payment means the order in which xxxxxxxx xre made to the "Lead Lender" and to the "Lender".

Priority of Payment means that any payments received by the Issuer under the Loan Compartment Assets (except for Prepayment Funds) and the Swap Agreement (as defined in § 4 (1)) will be distributed in accordance with the following order

Priority of Payment means all amounts of cash standing to the credit of the Issuer Account prior to 4 pm (London time) on any Early Repayment Date, the Maturity Date or any other date where a payment is due (other than an XDC Payment Date or a Periodic Payment Date) in making the following payments or provisions (the "Priority of Payments"), but only to the extent that (i) all payments or provisions of a higher priority that fall due to be paid or provided for on such date have been made in full and (ii) no payment shall be made if such payment would cause the Issuer Account to be overdrawn:

Priority of Payment means the priority of payments from time to time applicable according to Section6.1 (of the Ordinary Available Funds before Notification of an Enforcement Event), Section 6.2 (Use of Extraordinary Available Funds before notification of an Enforcement Event), Section 6.3 (Use of the Available Funds after the repayment of the Series A Notes and of the Series B Notes) and Section 6.4 (Use of the Available Funds after the Notification of an Enforcement Event).