Collection and Allocation of Payments and Other Amounts Sample Clauses
The 'Collection and Allocation of Payments and Other Amounts' clause defines how payments and other monetary amounts received under the agreement are to be collected and distributed among the parties. Typically, this clause outlines the process for receiving funds, the order in which payments are applied (such as first to fees, then to principal), and may specify the responsibilities of any third-party agents involved in handling the funds. Its core practical function is to ensure transparency and fairness in the handling of payments, reducing the risk of disputes over how money is managed and allocated.
POPULAR SAMPLE Copied 1 times
Collection and Allocation of Payments and Other Amounts. The Lessee, the Construction Agent, the Agent, the Lenders, the Holders and the Borrower have agreed pursuant to the terms of Section 8.7 of the Participation Agreement to a procedure for the allocation and distribution of certain payments and distributions, including without limitation the proceeds of Collateral.
Collection and Allocation of Payments and Other Amounts. (a) The Lessee and the Construction Agent have agreed pursuant to Section 5.8 and otherwise in accordance with the terms of this Agreement to pay to (i) the Agent any and all Rent (excluding Excepted Payments) and any and all other amounts (excluding Excepted Payments) of any kind or type under any of the Operative Agreements due and owing or payable to any Person and (ii) each Person as appropriate the Excepted Payments. Promptly after receipt, the Agent shall apply and allocate, in accordance with the terms of this Section 8.7, such amounts received from the Lessee or the Construction Agent and all other payments, receipts and other consideration of any kind whatsoever received by the Agent pursuant to the Security Agreement or otherwise received by the Agent, the Holders or any of the Lenders in connection with the Collateral, the Security Documents or any of the other Operative Agreements. Ratable distributions among the Lenders and the Holders under this Section 8.7 shall be made based on (in the case of the Lenders) the ratio of the outstanding Loans to the aggregate Property Cost and (in the case of the Holders) the ratio of the outstanding Holder Advances to the aggregate Property Cost. Ratable distributions among the Tranche A Lenders under this Section 8.7 shall be made based on the ratio of the individual Tranche A Lender’s Commitment for Tranche A Loans to the aggregate of all the Tranche A Lenders’ Commitments for Tranche A Loans. Ratable distributions among the Tranche B Lenders under this Section 8.7 shall be made based on the ratio of the individual Tranche B Lender’s Commitment for Tranche B Loans to the aggregate of all the Tranche B Lenders’ Commitments for Tranche B Loans. Ratable distributions among the Lenders (in situations where the Tranche A Lenders are not differentiated from the Tranche B Lenders) shall be made based on the ratio of the individual Lender’s Commitment to the aggregate of all the Lenders’ Commitments. Ratable distributions among the Holders under this Section 8.7 shall be based on the ratio of the individual Holder’s Holder Commitment to the aggregate of all the Holders’ Holder Commitments.
(b) Payments and other amounts received by the Agent from time to time in accordance with the terms of subparagraph (a) shall be applied and allocated as follows (subject in all cases to Section 8.7(c)):
(i) Any such payment or amount identified as or deemed to be Basic Rent shall be applied and allocated by the Agent first, rat...
Collection and Allocation of Payments and Other Amounts. (a) Each Credit Party has agreed pursuant to Section 5.9 and otherwise in accordance with the terms of this Agreement to pay to (i) the Collateral Agent any and all Rent (excluding Excepted Payments) and any and all other amounts of any kind or type under any of the Related Documents due and owing or payable to any Person and (ii) each Person entitled thereto, the Excepted Payments. Promptly after receipt, the Collateral Agent shall deposit into the Collateral Account and shall disburse such amounts in accordance with this Section 12.1, such amounts received from any Credit Party.
(b) Payments and other amounts received by the Collateral Agent from time to time in accordance with the terms of subparagraph (a) shall be applied and allocated as follows:
(i) Any such payment or amount identified as or deemed to be Basic Rent shall be allocated and disbursed by the Collateral Agent first, ratably to the Lenders and the Certificateholders for application to the payment of interest on the Advances and thereafter the principal of the Advances then due and payable and to the payment of accrued yield on the Certificates and thereafter any portion of the Certificateholder Advances then due and payable; and second, if no Potential Default or Event of Default has occurred and is continuing to such Person or Persons as the Lessee may designate; provided, that if a Potential Default or Event of Default has occurred and is continuing, such excess (if any) shall instead be held by the Collateral Agent until the earlier of (A) the first date thereafter on which no Potential Default or Event of Default shall be continuing (in which case such payments or returns shall then be made to such other Person or Persons as the Lessee may designate), (B) the Final Date (in which case such amounts shall be applied and allocated in the manner contemplated by the applicable provisions of this Article 12) and (C) the date of any Acceleration (in which case such amounts shall be applied and allocated in the manner set forth in Section 12.5 hereof).
(ii) If on any date the Collateral Agent or the Lessor shall receive any amount in respect of (A) any Casualty or Condemnation pursuant to Sections 15 or 16 of the Master Lease (excluding any payments in respect thereof which are payable to the Lessee in accordance with the Master Lease), or (B) any payment required to be made or elected to be made by the Construction Agent to the Lessor pursuant to the terms of the Construction Agency Agreemen...
Collection and Allocation of Payments and Other Amounts. The Credit Parties, the Agent, the Lenders, the Holders and the Borrower have agreed pursuant to the terms of Section 8.7 of the Participation Agreement to a procedure for the allocation and distribution of certain payments and distributions, including without limitation the proceeds of Collateral.
Collection and Allocation of Payments and Other Amounts. Release of Properties, etc.
Collection and Allocation of Payments and Other Amounts. 27 8.8. Release of Properties, etc. 30 8.9. Lessee. 30 8.10. Distribution of Proceeds from the Properties. 30 8.11. Limitation of Lessor's Obligations. 31 8.12. No Representations or Warranties as to the Property or Operative Agreements. 32 8.13.
Collection and Allocation of Payments and Other Amounts. (a) The Lessee and the Construction Agent have agreed pursuant to Section 5.8 and otherwise in accordance with the terms of this Agreement to pay to (i) the Agent any and all Rent (excluding Excepted Payments) and any and all other amounts of any kind or type under any of the Operative Agreements due and owing or payable to any Person and (ii) each Person as appropriate the Excepted Payments. Promptly after receipt, the Agent shall apply and allocate, in accordance with the terms of this Section 8.7, such amounts received from the Lessee or the Construction Agent and all other payments, receipts and other consideration of any kind whatsoever received by the Agent pursuant to the Security Agreement or otherwise received by the Agent, the Holders or any of the Lenders in connection with the Collateral, the Security Documents or any of the other Operative Agreements. Ratable distributions among the Lenders and the Holders under this Section 8.7 shall be made based on (in the case of the Lenders) the
Collection and Allocation of Payments and Other Amounts. Special Provision Regarding Post-Expiration Date Sales 50 8.8. Release of the Property, etc. 55 8.9. Limitation of Lessor’s Obligations 55 8.10. No Representations or Warranties as to the Property or Operative Agreements 57 8.11. Reliance; Advice of Counsel 57 8.12. Access to Property for the Construction Agent 57 8.13. [Reserved] 58 8.14. Non-Disturbance 58 8.15. Payment of Appraiser Expenses 58 SECTION 9. RIGHTS UNDER THE CREDIT AGREEMENTS 58 SECTION 10. TRANSFER OF INTEREST 59 10.1. Restrictions on Transfer 59 10.2. Effect of Transfer 61 SECTION 11. INDEMNIFICATION 61 11.1. General Indemnity 61 11.2. General Tax Indemnity 65 11.3. Increased Costs, Loan Adequacy; Illegality, etc. 70 11.4. Funding/Contribution Indemnity 71 11.5. EXPRESS INDEMNIFICATION FOR ORDINARY NEGLIGENCE, STRICT LIABILITY, ETC. 72
Collection and Allocation of Payments and Other Amounts. The Agent will allocate and distribute payments, including without limitation the proceeds of Collateral, to the Lenders, the Holders and other Persons in accordance with the procedures set forth in Section 8.7 of the Participation Agreement.
Collection and Allocation of Payments and Other Amounts. (a) Each Credit Party has agreed pursuant to Section 5.9 and otherwise in accordance with the terms of this Agreement to pay to (i) the Agent any and all Rent and any and all other amounts of any kind or type under any of the Operative Agreements due and owing or payable to any Person and (ii) each Person as appropriate the Excepted 38 44