Shortfall Interest definition

Shortfall Interest means any unpaid Yield Premium from a previous Daily Collection Period(s).
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Shortfall Interest means, an amount due with respect to each Monthly Payment Date equal to the excess, if any, of (i) the Interest that would have accrued on the Minimum Required Balance during the calendar month most recently ended over (ii) the Interest that actually accrued on the Aggregate Revolving Principal from time to time outstanding during such calendar month.
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Shortfall Interest shall have the meaning ascribed thereto in Section 2.1(e) of this Note.
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Examples of Shortfall Interest in a sentence

  • Any such failure to pay such Shortfall Interest Amount shall not constitute a default of the Issuer or any other breach of obligations under the Notes or for any other purpose and a Noteholder will have no claim in respect of any such non-payment.

  • The City Council shall review the operations of Owner prior to granting an extension of the term of this Agreement and make a finding that the Cannabis Manufacturing, notwithstanding that the Cannabis Manufacturing may not be in precise technical compliance with the issued regulatory permit and special use permit, continue to be compatible with surrounding land uses and are not detrimental to the public health, safety and general welfare.

  • The Issuer shall promptly notify the Noteholders in accordance with Condition 21 (Notices) (which notice shall be irrevocable) that the Issuer is not obliged to pay such Shortfall Interest Amount.

  • The ATO has a regime of interest for shortfalls (underpayments of tax) (the Shortfall Interest Charge (SIC)), unpaid tax (the General Interest Charge (GIC)), and for early payments of tax.

  • Find out more about this challenge at https://www.grab.com/my/grabpay-blog/bank-card- promo/mbb-bonanza-10-dec/ Example scenarios ScenarioEligibility for PrizeEligibility for PrizeFirst time link-up and top-up GrabPay Wallet for ten (10) times with a minimum value of RM50 for each top-up on 21 December 20228,000 GrabRewardsEligible.

  • The Calculation Agent shall, as soon as practicable on or after each WIBOR Determination Date and in accordance with the relevant provisions of the Agency Agreement, determine the relevant Interest Period, any Interest Shortfall, Interest Rate, Interest Amount and Payment Date with respect to each Note and shall notify such determinations to the Principal Paying Agent.

  • The tungsten carbide/cobalt (WC/Co) bond at the diamond–stud interface was reported to damage very quickly when the temperature goes beyond 700 ◦C [10].

  • The reduced Shortfall Interest Charge therefore does not contain a penalty element, but merely seeks to neutralise the loan benefit that taxpayers might typically receive from the temporary use of the shortfall amount.

  • Report to be presented on the provisions of the Tax Laws Amendment (Improvements to Self Assessment) Bill (No. 1) 2005 and the Shortfall Interest Charge (Imposition) Bill 2005.

  • They created the Shortfall Interest Charge to replace the then existing General Interest Charge with a charge four percentage points lower than the General Interest Charge rate.These changes impacted on entities who received an administrative penalty for a shortfall amount, given they were operating in a self assessing environment.


More Definitions of Shortfall Interest

Shortfall Interest means a capital sum equal to interest at Three per centum below the Specified Rate on the aggregate of the component parts of the Shortfall for the period from the date each component part became due until payment of the Shortfall.
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Shortfall Interest. The Mortgage Loan curtailment or payoff interest which is required to be paid to the Agency but which the Borrower is not obligated to pay.
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Shortfall Interest means interest on the Shortfall at the base rate of The Royal Bank of Scotland PLC (or if such rate shall no longer be published the base rate of such other clearing bank as the Landlord shall nominate) calculated on a daily basis to the date of payment (as well after as before judgment) PROVIDED THAT for the avoidance ofdoubt the Tenant shall only be obliged to pay such interest in respect of the quarterly instalments of the Revised Rent on each of those sums from the dates on which they would have been due (if the Revised Rent had been determined before the Review Date) until the Payment Date (or, if later, the date on which payment of the same is received by the Landlord)
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Shortfall Interest has the meaning given to it in Section 2.3(b).
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Related to Shortfall Interest

  • Shortfall Amount as defined in Section 2.6.

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Collateral Interest Shortfall shall have the meaning specified in subsection 4.02(c).

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Prepayment Interest Shortfall As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment.

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;