Required Holdback definition

Required Holdback means, as of any date, the sum of (i) the greater of (a) the sum of (x) the product of the Required Holdback Percentage times the Aggregate Outstanding Principal Balance of Eligible Receivables in the Total Receivables Pool on such date plus (y) the product of 4% times the amount on deposit in the Collection Account on such date, and (b) $1,500,000; plus (ii) the Deficiency Amount for such date.
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Required Holdback means, as of any date, the sum of (i) the greater of (a) the product of (1) the Required Percentage and (2) the Aggregate Outstanding Principal Balance of Eligible Receivables in the Total Receivables Pool on such date and (b)$1,000,000, PROVIDED that the amount set forth in this clause (b) shall be deemed to be zero during (x) any period that no Advances are outstanding and (y) the two Business Day period following the date of the making of each Advance; PLUS (ii) the Deficiency Amount for such date.
Sample 1
Required Holdback. This definition shall be amended to read in its ----------------- entirety as follows:
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Examples of Required Holdback in a sentence

  • Pursuant to and in accordance with the policies of the SBA and SBA Form 1086, the Servicer shall retain the Required Holdback Amount for each SBA Loan.

  • The Required Holdback Amount shall not constitute part of the Trust Fund and Noteholders and Certificateholders shall have no interest in, and are not entitled to receive any portion of the Required Holdback Amount.

  • As compensation for its services hereunder, the Servicer shall be entitled to retain from interest payments on the SBA Loans or withdraw from the Principal and Interest Account (to the extent deposited therein) the Required Holdback Amount and, in accordance with Section 4.04(b), any accrued but unreimbursed Required Holdback Amounts.

  • If the Company is replaced as servicer pursuant to any provision of this Agreement, it shall no longer be entitled to the Required Holdback Amount but, instead, the successor servicer shall be entitled thereto.

  • The Servicer shall, subject to Section 4.04, reimburse itself for any related unreimbursed Required Holdback Amounts and unpaid Servicing Fees and unreimbursed Monthly Advances, and the Servicer shall deposit in the Principal and Interest Account the net cash proceeds of such sale to be distributed to the Noteholders in accordance with Section 5.07 hereof.

  • As compensation therefor, the Indenture Trustee shall be entitled to all funds relating to the SBA Loans which the Servicer would have been entitled to receive from the Principal and Interest Account pursuant to Section 4.04 if the Servicer had continued to act as Servicer hereunder, together with other servicing compensation in the form of assumption fees, late payment charges or otherwise as provided in Section 6.03 and shall be shall be entitled to the Required Holdback Amount.

  • If the Seller is replaced as servicer pursuant to any provision of this Agreement, it shall no longer be entitled to the Required Holdback Amount but, instead, the successor servicer shall be entitled thereto.

  • For its services hereunder, the Servicer will receive the Required Holdback Amount with respect to each SBA Loan serviced hereunder.


More Definitions of Required Holdback

Required Holdback means, as of any date, the sum of (i) the greater of ----------------- (a) the product of (1) the Required Percentage and (2) the sum of (x) the Aggregate Outstanding Principal Balance of Eligible Receivables in the Total Receivables Pool on such date plus (y) the amount on deposit in the Collection ---- Account on such date plus (z) the amount on deposit in the Lockbox Account on ---- such date, and (b) $2,000,000, provided that the amount set forth in this clause -------- (b) shall be deemed to be zero during any period that no Advances are outstanding; plus (ii) the Deficiency Amount for such date. ----
Sample 1
Required Holdback means the Required A Holdback and/or the Required B ----------------- Holdback (as the context may require).
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Related to Required Holdback

  • Escrow End Date has the meaning set forth in the Escrow Agreement.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Holdback has the meaning set forth in Section 4.1(d)(i).

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Indemnity Escrow Amount means $3,000,000.

  • Note Holder Representative means a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative, as applicable.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Required Amount means, with respect to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Stockholder Representative has the meaning set forth in the preamble.

  • Adjustment Escrow Funds means the amounts held in the Adjustment Escrow Account, including any dividends, interest, distributions and other income received in respect thereof, less any losses on investments thereof, less distributions thereof in accordance with this Agreement and the Escrow Agreement.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

  • Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(a).

  • Acquisition Amount means, for an Acquired Receivable for which the Acquisition Amount is to be included in Available Funds for a Payment Date, the excess of (i) the present value of the Principal Balance of the Receivable as of the last day of the Collection Period immediately preceding the related Collection Period (calculated using the Discount Rate on the basis of a 360-day year of twelve 30-day months and assuming each amount is received at the end of the Collection Period in which the amount is scheduled to be received) over (ii) all cash collections and any other cash proceeds received by the Issuer on the related Receivable from (but excluding) the last day of the Collection Period immediately preceding the related Collection Period to the day on which such Receivable becomes an Acquired Receivable.

  • Non-Lead Note Holder Representative shall have the meaning assigned to such term in Section 6(c).

  • Requisite Amount has the meaning specified in the Spread Account Agreement.

  • Adjustment Escrow Amount means $1,000,000.

  • Escrow Cash is defined in Section 4.1(a).

  • Holdback Amount has the meaning set forth in Section 2.06(a).