Required Payoff Amount means, with respect to any Collection Period for a Contract, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Contract Principal Balance of such Contract (after taking into account the Scheduled Payment due in such Collection Period whether or not actually received).
Required Payoff Amount means, with respect to any Collection Period for any Lease, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Principal Balance of such Lease (after taking into account the Scheduled Payment due in such Collection Period, whether or not received).
Required Payoff Amount means, with respect to any Collection Period for a Contract, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Contract Principal Balance of such Contract (after taking into account the Scheduled Payment due in such Collection Period whether or not actually received and, with respect to Contracts that are Defaulted Contracts, the Contract Principal Balance plus Scheduled Payments due but not yet paid on such Contract as of the first day of the Collection Period during which it became a Defaulted Contract without giving effect to the Defaulted Contract Valuation Amount) less any subsequent cash collections on such contract.
Examples of Required Payoff Amount in a sentence
The Servicer shall not be entitled to any Administrative Fees with respect to a Liquidated Lease unless the Required Payoff Amount for such Lease has been deposited in the Collection Account.
None of the Leases permit the Obligor to terminate the Lease prior to the latest Stated Maturity Date or to otherwise prepay the amounts due and payable thereunder, except for a de minimis number of Leases which allow for an early termination or prepayment upon payment of an amount which is not less than the Required Payoff Amount.
Under each Lease, if the Equipment is damaged or destroyed, the Obligor is required either (i) to repair such Equipment, (ii) to make a termination payment to the lessor in an amount not less than the Required Payoff Amount, or (iii) in some cases, to replace such damaged or destroyed Equipment with other equipment of comparable use and value.
The Servicer shall not be entitled to any Administrative Fees with respect to a Liquidated Contract unless the Required Payoff Amount for such Contract has been deposited in the Collection Account.
The Master Servicer may not permit a Receivable to be terminated prior to the scheduled termination date thereof unless such termination results in a payment at least equal to the Required Payoff Amount being deposited into the Collection Account with respect to the related Payment Date.
More Definitions of Required Payoff Amount
Required Payoff Amount. With respect to any Collection Period for any Lease, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Principal Balance of such Lease (after taking into account the Scheduled Payment due in such Collection Period, whether or not received).
Required Payoff Amount means, with respect to any Collection Period for a Contract, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Contract Principal Balance of such Contract (after taking into account the Scheduled Payment due in such Collection Period and any Scheduled Payments due in prior Collection Periods whether or not actually received and, with respect to Contracts that are Defaulted Contracts, the Contract Principal Balance plus Scheduled Payments due but not yet paid on such Contract as of the first day of the Collection Period during which it became a Defaulted Contract without giving effect to the Defaulted Contract Valuation Amount) less any subsequent cash collections on such contract.
Required Payoff Amount. With respect to any Collection Period for any Contract, the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Contract Principal Balance of such Contract (after taking into account the Scheduled Payment due in such Collection Period, whether or not received).
Required Payoff Amount means with respect to any Collection Period for any Receivable, the sum of (i) the Contract Payment due in any Collection Period, together with any past due Contract Payments, (ii) the Outstanding Balance of such Receivable as of the last day of such Collection Period (after taking into account the Contract Payment due on such Collection Period and, if the applicable Receivable is a Defaulted Receivable, assuming for the purpose of determining the Outstanding Balance thereof pursuant to this clause (ii) that such Receivable is not a Defaulted Receivable) plus (iii) any breakage cost associated with the applicable Hedging Agreement.
Required Payoff Amount has the meaning specified in Section 2.5(f).
Required Payoff Amount means (a) with respect to any Collection Period for a Contract (other than a Defaulted Contract), the sum of (i) the Scheduled Payment due in such Collection Period, together with any Scheduled Payments due in prior Collection Periods but not yet received, plus (ii) the Contract Principal Balance of such Contract (after taking into account the Scheduled Payment due in such Collection Period and any Scheduled Payments due in prior Collection Periods whether or not actually received) and, (b) with respect to Contracts that are Defaulted Contracts, zero. ”Requirements of Law” for any Person means the certificate of incorporation or articles of association and by-laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or order or determination of an arbitrator or Governmental Authority, in each case applicable to or binding upon such Person or to which such Person is subject, whether Federal, state or local (including, without limitation, usury laws, the Federal Truth in Lending Act and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System).
Required Payoff Amount means with respect to any Collection Period for any Receivable (a) if such Receivable is in the form of a lease, an amount, without duplication, equal to the sum of (i) the Outstanding Balance as of the close of business on the last day of the preceding Collection Period and (ii) any Contract Payments due prior to the close of business on the last day of such preceding Collection Period and not paid by an Obligor, (b) if such Receivable is in the form of a conditional sales contract or a loan or a Receivable originated by American Capital Resources, Inc., an amount equal to the outstanding principal balance thereof together with any accrued but unpaid interest, penalties and fees thereon, and (c) in either case, any breakage cost associated with the applicable Hedging Agreement.