Residual Payments definition

Residual Payments has the meaning specified in subsection 5.15(viii).

Residual Payments has the meaning in Residual Certificate Condition 4(a);

Residual Payments shall have the meaning set forth in Section 9.3.

Examples of Residual Payments in a sentence

• In no event will Residual Payments be paid on a month-to-month Centrex sale.

• However, if, on any business day that KBK regularly makes a payment to Seller for accounts purchased, none of the foregoing conditions exists and no other breach of this Agreement by Seller exists, then KBK shall distribute to Seller the Residual Payments then due and all funds it then has on hand that it has collected from accounts that KBK has not then purchased.

• A system of progressive and corrective discipline shall be applied fairly to all teachers employed by the Board.

• All losses incurred by KBK from the financial inability of the applicable account debtor to pay such account over and above any and all Residual Payments (as hereinafter defined) and Reserve (as hereinafter defined) amounts offset shall be borne solely by KBK; provided, however, that nothing in this Agreement shall be construed to relieve Seller from liability for any breach by Seller of any representation, warranty or agreement of Seller contained herein.

• The Residual Payments Account shall have been validly established and the Indenture Trustee, as assignee of the Issuer, as secured party under the Demand Note, has a perfected security interest in the Demand Note and the Residual Payments Account, subject only to the Intercreditor Agreement.

More Definitions of Residual Payments

Residual Payments has the meaning ascribed to it in Section 12.4 of this Agreement.

Residual Payments. (which term shall mean both "Residual Payments" as defined in the Authorized Distributor Agreement and any other similar term used by Ameritech in a Distributor Agreement representing the right to the same type of payments as a "Residual Payment" under the Authorized Distributor Agreement) or (ii) represented on the books of PentaStar Corporation as Residual Payments due or earned from Ameritech, together with all books and records (including computer records) directly related thereto and all proceeds thereof; provided that, for the avoidance of doubt, the Merrxxx Xxxxx Xxxx xxxll not encumber any Accounts, Contract Rights or General Intangibles or any other rights related to or in connection with any "Base Commission" or "Upfront Commission Payment" (as each such term is defined in Exhibit C to the Authorized Distributor Agreement).

Residual Payments as defined in the Authorized Distributor Agreement and any other similar term used by Ameritech in a Distributor Agreement representing the right to the same type of payments as a "Residual Payment" under the Authorized Distributor Agreement) or (ii) represented on the books of PentaStar Corporation as Residual Payments due or earned from Ameritech, together with all books and records (including computer records) directly related thereto and all proceeds thereof; provided that, for the avoidance of doubt, the Merrxxx Xxxxx Xxxx xxxll not encumber any Accounts, Contract Rights or General Intangibles or any other rights related to or in connection with any "Base Commission" or "Upfront Commission Payment" (as each such term is defined in Exhibit C to the Authorized Distributor Agreement).

Residual Payments has the meaning set forth in Section 4.2(b).

Residual Payments has the meaning specified in subsection 5.15(e)(viii).

Residual Payments has the meaning specified in subsection 5.15(ix).

Residual Payments means a payment equal to the cash proceeds received by the Issuer and the Guarantors in respect of the operation or sale of the aggregate residual assets of the Issuer and the Guarantors following payment of the Terminal Sale New Note Proceeds, as applied by the Issuer, the Guarantors or any other Person on behalf of the Issuer and the Guarantors towards redemption of the New Notes in accordance with Section 3.03(b) hereof; provided that the sum of such amounts paid to Holders pursuant to clauses (i) and (ii) of this definition shall not be less than $5.0 million in the aggregate (such minimum amount, the “Residual Payment Floor”). For the avoidance of doubt, any Terminal Sale New Note Proceeds delivered to the Holders shall be disregarded for determining whether the Residual Payment Floor has been satisfied.