Priority of Payment definition

Priority of Payment means any one of the foregoing;
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Priority of Payment means the order in which payments are made to the "Lead Lender" and to the "Lender".
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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.
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Examples of Priority of Payment in a sentence

  • SFA - 23 (b) General Principles Regarding Distribution of the Settlement Fund (c) Priority of Payment for Claims .............................

  • The Issuer shall pay to the Transaction Agent the amounts indicated in the Transaction Agent Fee Letter on the dates specified therein in accordance with the applicable Issuer Priority of Payment.

  • The Trustee shall deposit the purchase price for the Collateral Debt Securities in the Collection Accounts and the Notes and, to the extent funds are available therefor, the Preferred Shares shall be redeemed on the Distribution Date immediately following the relevant Auction Date (such redemption, an “Auction Call Redemption”) in accordance with the Priority of Payment.

  • Trustees Priority of Payment.....................................................

  • The Residual Optional Instalment collected with respect to each Receivable, will not form part of the Issuer Available Funds and will be paid by the Issuer to the Originator outside of the applicable Priority of Payment, subject and limited to the amount actually collected by the Issuer.

  • For the avoidance of doubt, such payment shall be made outside the relevant Issuer Priority of Payment.

  • The Issuer shall pay (in accordance with the applicable Issuer Priority of Payment) to the Registrar for account of the Registrar such fees as may have been separately agreed between, amongst others, the Registrar and the Issuer in respect of the services of the Registrar hereunder (plus any applicable VAT) and the Registrar shall notify the Issuer Cash Manager (in advance) of such fees payable.

  • Such repayments shall be made by the Issuer outside, and not subject to, the relevant Priority of Payment.

  • The Issuer shall on demand (but in accordance with the applicable Issuer Priority of Payment) reimburse the Registrar for all expenses (including, without limitation, legal fees and any publication, advertising, communication, courier, postage and other out-of-pocket expenses) properly incurred in connection with its services hereunder (plus any applicable VAT), and the Registrar shall notify the Issuer Cash Manager in respect of expenses due and payable.

  • Each of the Assignees shall have full recourse against any or all of the Assignors for the amounts payable by the terms of this Agreement, whether as a result of an Assignor's failure to comply with the terms of this Agreement, including the Priority of Payment or otherwise.


More Definitions of Priority of Payment

Priority of Payment means the order in which xxxxxxxx xre made to the "Lead Lender" and to the "Lender".
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Priority of Payment means the order in which payments are to be made hereunder to the Assignors and to the Assignees.
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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.
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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:
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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
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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).
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Related to Priority of Payment

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Due Date of Payment means the date on which the amount payable by the DISCOM to the solar power developer hereunder for Delivered Energy, if any, supplied during a billing month becomes due for payment, which date shall be thirty (30) days from the meter reading date provided the bill is received by DISCOM within 5 working days from meter reading date, and in the case of any supplemental or other bill or claim, if any, the due date of payment shall be thirty (30) days from the date of the presentation of such bill or claim to the designated officer of DISCOM. If the last date of payment falls on a holiday, the next working date shall be considered as last date.

  • Priority Tax Claim means any Claim of a Governmental Unit of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • Guarantor of Payment means each of the Companies set forth on Schedule 2 hereto, that are each executing and delivering a Guaranty of Payment, or any other Person that shall deliver a Guaranty of Payment to Agent subsequent to the Closing Date.

  • Discharge of Second Lien Obligations means the occurrence of all of the following:

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.

  • Penalty Charge Notice means a notice served by a Civil Enforcement Officer pursuant to the provisions of section 78 of the 2004 Act and supporting regulations;

  • priority date means the date of the earlier application that serves as the basis for the right of priority provided for in the Paris Convention;

  • Facility Charge means one percent (1%) of the Maximum Term Loan Amount.

  • Penalty Charge means a penalty charge which is payable by virtue of paragraph 3(1) and (2) of Schedule 3 to this Act;

  • Date of Payment means the date on which NYSERDA requisitions a check from its statutory fiscal agent, the Department of Taxation and Finance, to make a Payment.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Priority Tax Claims means Claims of governmental units of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • Security Distribution As to any Mortgage Security and Security Distribution Due Date, the amount of distribution payable to the holder of such Mortgage Security in accordance with its terms.

  • Additional Second Lien Obligations means, with respect to any Grantor, any obligations of such Grantor owed to any Additional Second Lien Secured Party (or any of its Affiliates) in respect of the Additional Second Lien Documents.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Guarantor Payment Date means (a) prior to the delivery of a Guarantor Default Notice, the date falling on the 10th day of February, May, August and November of each year or, if such day is not a Business Day, the immediately following Business Day, provided that the fist Guarantor Payment Date will be 10 February 2014; and (b) following the delivery of a Guarantor Default Notice, any day on which any payment is required to be made by the Representative of the Covered Bondholders in accordance with the Post-Enforcement Priority of Payments, the relevant Final Terms and the Intercreditor Agreement.

  • Priority Non-Tax Claim means any Claim other than an Administrative Expense Claim or a Priority Tax Claim, entitled to priority in payment as specified in section 507(a) of the Bankruptcy Code.

  • Security Distribution Due Date The date upon which a particular Security Distribution is payable to the holder of the related Mortgage Security in accordance with its terms.

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).