Characteristics of Initial and Additional Contracts Clause Samples

The "Characteristics of Initial and Additional Contracts" clause defines the specific features and terms that apply to both the original agreement and any subsequent contracts entered into under the same framework. It typically outlines which provisions, rights, and obligations are carried over or modified in additional contracts, and may clarify how new contracts are formed, amended, or terminated. This clause ensures consistency and predictability across multiple agreements, reducing ambiguity and helping parties understand how future contracts will relate to the initial one.
Characteristics of Initial and Additional Contracts. The Initial and Additional Contracts have the following characteristics as of the Cut-off Date: (i) the Obligors on not more than 10% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are located in any one state, the Obligors on not more than 5% of the Contracts by Cut-off Date Pool Principal Balance are located in an area with the same zip code and the Obligors on not more than 1% of the Contracts by Cut-off Date Pool Principal Balance are located in California in an area with the same zip code; (ii) no Initial or Additional Contract has a remaining maturity of fewer than 4 months or more than 360 months; (iii) the final scheduled payment date on the Initial or Additional Contract with the latest maturity is in ______; (iv) approximately ___% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for purchases of new Manufactured Homes and approximately ___% is attributable to loans for purchases of used Manufactured Homes; (v) no less than ___% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to Land-and-Home Contracts; (vi) the Weighted Average Contract Rate of the Initial and Additional Contracts as of the Cut-off Date is at least ___% per annum; (vii) at least ___% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for the purchase of multi-section Manufactured Homes; (viii) the weighted average (by Cut-off Date Pool Principal Balance) loan to value ratio of the Initial and Additional Contracts is not more than ___%; (ix) no Initial or Additional Contract was originated before _________; and (x) not more than ___% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are secured by Manufactured Homes located in a mobile home park.
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Characteristics of Initial and Additional Contracts. The Initial and Additional Contracts have the following characteristics as of the Cut-off Date:
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Characteristics of Initial and Additional Contracts. The Initial and Additional Contracts have the following characteristics as of the Cut-off Date: (i) the Obligors on not more than 10% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are located in any one state (except for Initial and Additional Contracts with Obligors located in North Carolina, which represent approximately 11.80% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance), the Obligors on not more than 5% of the Contracts by Cut-off Date Pool Principal Balance are located in an area with the same zip code and the Obligors on not more than 1% of the Contracts by Cut-off Date Pool Principal Balance are located in California in an area with the same zip code; (ii) no Initial or Additional Contract has a remaining maturity of fewer than 20 months or more than 360 months; (iii) the final scheduled payment date on the Initial or Additional Contract with the latest maturity is in May 25, 2029; (iv) approximately 78% of the Initial and Additional Contracts by Cutoff Date Pool Principal Balance is attributable to loans for purchases of new Manufactured Homes and approximately 22% is attributable to loans for purchases of used Manufactured Homes; (v) no less than 34.50% of the Initial and Additional Contracts by Cutoff Date Pool Principal Balance is attributable to Land-and-Home Contracts; (vi) the Weighted Average Contract Rate of the Initial and Additional Contracts as of the Cut-off Date is at least 9.24% per annum; (vii) at least 70% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for the purchase of multi-section Manufactured Homes; (viii) the weighted average (by Cut-off Date Pool Principal Balance) loan to value ratio of the Initial and Additional Contracts is not more than 87.31%; (ix) no Initial or Additional Contract was originated before July 23, 1984; and (x) not more than 29% of the Initial and Additional Contracts by Cutoff Date Pool Principal Balance are secured by Manufactured Homes located in a mobile home park.
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Characteristics of Initial and Additional Contracts. The Initial and Additional Contracts have the following characteristics as of the Cut-off Date: (A) the Obligors on not more than 22.59% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are located in any one state, the Obligors on not more than 0.79% of the Contracts by Cut-off Date Pool Principal Balance are located in an area with the same zip code and the Obligors on not more than 0.20% of the Contracts by Cut-off Date Pool Principal Balance are located in California in an area with the same zip code; (B) no Initial or Additional Contract has a remaining maturity of fewer than 52 months or more than 360 months; (C) the final scheduled payment date on the Initial or Additional Contract with the latest maturity is in July 1, 2032; (D) 88.10% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for purchases of new Manufactured Homes and approximately 11.90% is attributable to loans for purchases of used Manufactured Homes; (E) 4.87% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to Land-and-Home Contracts; (F) the Weighted Average Net Contract Rate of the Initial and Additional Contracts as of the Cut-off Date is 10.770% per annum; (G) 75.28% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for the purchase of multi-section Manufactured Homes; (H) the weighted average (by Cut-off Date Pool Principal Balance) loan to value ratio of the Initial and Additional Contracts is 87.60%; (I) no Initial or Additional Contract was originated before November 2000; and (J) 29.06% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are secured by Manufactured Homes located in a mobile home park.
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Characteristics of Initial and Additional Contracts. The Initial and Additional Contracts have the following characteristics as of the Cut-off Date: (i) the Obligors on not more than 10% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance are located in any one state (except for Initial and Additional Contracts with Obligors located in North Carolina, which represent approximately 10.17% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance), the Obligors on not more than 5% of the Contracts by Cut-off Date Pool Principal Balance are located in an area with the same zip code and the Obligors on not more than 1% of the Contracts by Cut-off Date Pool Principal Balance are located in California in an area with the same zip code; (ii) no Initial or Additional Contract has a remaining maturity of fewer than six months or more than 360 months; (iii) the final scheduled payment date on the Initial or Additional Contract with the latest maturity is in December 2028; (iv) approximately 73% of the Initial and Additional Contracts by Cut-off Date Pool Principal Balance is attributable to loans for purchases of new Manufactured Homes and approximately 27% is attributable to loans for purchases of used Manufactured Homes;
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Related to Characteristics of Initial and Additional Contracts

  • Additional Conditions As a condition to any such assignment or subletting, whether or not Landlord’s consent is required, Landlord may require: (i) that any assignee or subtenant agree, in writing at the time of such assignment or subletting, that if Landlord gives such party notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be received by Landlord without any liability except to credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason; provided, however, in no event shall Landlord or its successors or assigns be obligated to accept such attornment; and (ii) A list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies of all documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including, without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord with any portion(s) of the such documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities.

  • Supplemental Contracts 1. Supplemental contracts may be agreed to by the Board of Education and a teacher. Supplemental assignments constitute duties apart from the primary contracts, which are assigned by the administrators and for which there is a written contract. Any teacher may make application for those assignments. Persons who wish to fill these assignments may apply for such work in writing to the administrator of the building where the position is located. Supplemental contracts will be paid a percentage of the supplemental base (See Appendix B). 1.1 In the event that an employee holding a supplemental contract does not fulfill said contract, payment shall be prorated based on such things as, but not limited to, percent of season completed, percent of performances completed, meetings, or duties, completion of product/production. The superintendent or designee will determine percentage to be paid after consultation with the impacted parties. 1.2 A job description must be developed at the building level and approved by the Board of Education for each supplemental position for which compensation is paid and a contract issued. 1.3 The formation of new clubs/activities/positions may occur at any building providing a teacher can show justification for that club/activity/position. The teacher will make a proposal to the Building Principal’s Advisory Council. The proposal will include such things as projected meeting time, number of students involved, and number of teacher hours. Final approval for implementation rests with the superintendent/designee. If approved, sponsors will be paid on an hourly timecard rate with appropriate documentation of activities for possible inclusion in the supplemental salary schedule. 2. Prior to the start of each activity season (fall, winter, spring) a listing of available extra duty assignments will be posted for employees to sign up to work. Employees sign up for all duties he/she wants to do for that particular season. As duties are completed, the employee enters the time worked in the district’s time and attendance system. Some specialized duties (scorebook, game manager, etc.) may be pre-assigned by the activities director. The rate of pay will be $19.00 per hour paid in one half (1/2) hour increments. 3. Short-term assignments can be incurred at any grade level and are not governed by written contract. Teachers may agree to short-term assignments of supervision/ instruction in addition to their regularly assigned duties within the contract day. When the short-term period exceeds one-half (½) hour, then the teacher will receive full hourly compensation for each hour assigned. When the short-term period is less than one-half (½) hour, the teacher will receive one half (½) the hourly compensation. 3.1 All short-term assignments will be paid at the rate of $19.00 per hour. 3.2 Elementary teachers who accept the assignment of students from teachers who are absent and whose classroom cannot be covered with a substitute teacher will receive the substitute teacher’s pay proportionally divided among the teachers who take the additional students. If the teacher does not receive a plan time, the short-term assignment rate will apply. 3.3 Building Principal’s Advisory Council members will be paid at the above short-Term Assignment rate for Building Principal’s Advisory Council meetings.

  • Additional Conditions to Obligations of Seller The obligations of Seller to consummate and effect the transactions contemplated hereby shall be subject to the satisfaction at or prior to the Closing of each of the following conditions, any of which may be waived, in writing, exclusively by Seller:

  • Supplemental Conditions 1. All individuals involved, and all others who might possibly contribute to the acceptable adjustment of a grievance, are authorized and urged to testify with full assurance that no reprisal will follow by reason of such participation. 2. Upon the final determination of the grievance, the documents, communication and records, excepting a record of the grievance and the final adjustment thereof, and excepting records required by law to be kept and maintained, shall be destroyed. 3. At each step of the procedure, the grievant shall be entitled to be accompanied by legal counsel or any other parties the grievant may designate. 4. All grievance hearings shall be confidential. 5. All discussions and hearings shall be conducted at times other than when classes are in session during the school day. 6. It is the responsibility of the grievant to utilize the procedure for adjusting grievances as soon as he is aware of grievance. 7. Excluded from the grievance procedure shall be matters for which law mandates another method of review. 8. The filing of a formal grievance at all levels shall be in writing and shall be reasonably specific as to the nature of the complaint. The grievance should, to the extent possible, describe the alleged event or act giving rise to the grievance including the time, date, and place of the event or act and the names and addresses of any witnesses thereto. The grievant must file Grievance Report Form, Appendix "A". 9. Nothing in this grievance procedure shall be construed as prohibiting a grievant from seeking a judgment or ruling in a court of law. 10. The number of days indicated at each level should be considered as a maximum and every effort should be made to expedite the process. The time limits specified may, however, be extended by mutual agreement. 11. In the event a grievance is filed at such time that it cannot be processed through all the steps in this grievance procedure by the end of the school year and if left unresolved until the beginning of the following school year could result in irreparable harm to the grievant, the time limit set forth herein shall be reduced so that the grievance procedure may be exhausted prior to the end of the school year or within a maximum of thirty (30) days thereafter. 12. If the Board or any of its administrative staff do not present a written decision within the time allotted after the grievance hearing, such failure to act shall be an admission that the grievance was justified and the grievant shall receive the remedy he is seeking.

  • Additional Conditions to Obligations of Company The obligation of Company to consummate and effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any of which may be waived, in writing, exclusively by Company: