Deficiency Amounts Sample Clauses

Deficiency Amounts. If the amounts described in Sections 3.3(a), (b), (c) and (d) of this Series Supplement are insufficient to pay the Series 2009-1 Monthly Interest for any Payment Date, payments of interest to the Series 2009-1 Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Payment Date allocable to the Series 2009-1 Notes shall be referred to as the “Series 2009-1 Deficiency Amount”. Interest shall accrue on the Series 2009-1 Deficiency Amount at the applicable Series 2009-1 Note Rate.
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Deficiency Amounts. If the amounts described in Sections 2.03(b), (c), (d), (e) and (f) of this Series Supplement are insufficient to pay the Series 2004-1 Adjusted Monthly Interest for any Payment Date, payments of interest to the Series 2004-1 Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-1 Notes shall be referred to as the “Class A-1 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-2 Notes shall be referred to as the “Class A-2 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-3 Notes shall be referred to as the “Class A-3 Deficiency Amount” and the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-4 Notes shall be referred to as the “Class A-4 Deficiency Amount”. Interest shall accrue on the Deficiency Amount for each Class of Series 2004-1 Notes at the applicable Series 2004-1 Note Rate.
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Deficiency Amounts. (i) Any Seller Bond or BOEM Bond issued to the Sellers that fails to meet the requirements as set out in the definition of Seller Bond or BOEM Bond, as applicable, shall not be taken into account in determining whether Purchaser has provided the Decommissioning Security Amount. The amount by which the Decommissioning Security Amount exceeds the penal sum of the Decommissioning Security that Purchaser has provided (calculated as set forth in this Section 7.4(d)(i)), plus the face value of any Backstop Letter of Credit, is referred to herein as the “Deficiency Amount.” (ii) Purchaser shall notify Sellers in writing if, at any time, it has actual knowledge that a Deficiency Amount exists. If, at any time after the Closing Date, a Deficiency Amount exists, Purchaser shall, within forty-five (45) days of the earlier of the provision by any Seller of written notice of the existence of such Deficiency Amount and Purchaser obtaining actual knowledge of the existence of a Deficiency Amount (whether or not Purchaser has notified any Seller thereof) (the “Initial Cure Period”), execute and deliver to Sellers one or more new BOEM Bonds or Seller Bonds, as applicable, compliant with the definitions thereof, such that no Deficiency Amount exists. (iii) To the extent that Purchaser has not eliminated any Deficiency Amount prior to the end of the Initial Cure Period, Purchaser shall, on or before the end of the Initial Cure Period, post or provide to Sellers one or more irrevocable standby multi-draw letters of credit, in form and substance reasonably satisfactory to Sellers, issued by one or more financial institutions reasonably satisfactory to Sellers (with “A-” or better rating with Standard & Poor’s Rating Group), in an aggregate amount equal to the Deficiency Amount. (iv) The aggregate face amount of all such letters of credit posted or provided to Sellers and that are outstanding and may be called by any Seller at any particular time (each, a “Backstop Letter of Credit”) shall be added to the penal sum of any BOEM Bond and Seller Bond in determining whether a Deficiency Amount exists, or continues to exist.
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Deficiency Amounts. On each Payment Date the Paying Agent shall, in accordance with the Master Servicer’s most recent Monthly Certificate, pay to the Series 1998-1 Noteholders from the Series 1998-1 Distribution Account the portion of the Series 1998-1 Interest Amount deposited in the Series 1998-1 Distribution Account for the payment of the Series 1998-1 Interest Amount pursuant to Section 4.8(a) of this Supplement and clauses (i) and (ii) of this Section 4.9.
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Deficiency Amounts. If the amounts described in Sections 2.3(b), (d), and (e) of this Series Supplement are insufficient to pay the Class A Total Monthly Interest for any Payment Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-1 Notes shall be referred to as the “Class A-1 Deficiency Amount” and the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-2 Notes shall be referred to as the “Class A-2 Deficiency Amount”. Interest shall accrue on the Deficiency Amount for each Class of Class A Notes at the applicable Class A Note Rate.
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Deficiency Amounts. In no event shall any portion of a Disputed Amount be paid from the Escrow Account on behalf of any Polexis Principal Stockholder in excess of such Polexis Principal Stockholder's pro rata share of the remaining Escrow Account balance.
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Deficiency Amounts. Notwithstanding anything to the contrary contained herein or in the Master Agreement, if on any Payment Date the amount received by the Trust on the Term Assets and paid to West LB as provided herein is less than the Scheduled Interest Payments then due on the Term Assets (the amount of such deficiency, the "Deficiency Amount"), West LB shall reduce the amount otherwise payable by West LB to the Trust on such Payment Date in respect of the West LB Floating Payment by such Deficiency Amount (but not below zero). If on any Payment Date the Deficiency Amount is greater than the West LB Floating Payment which would otherwise be due to the Trust on such Payment Date West LB shall also reduce the amount otherwise payable by it to the Trust on such Payment Date in respect of the West LB Fixed Payment by the amount of such excess (but not below zero).
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Deficiency Amounts. If the amounts described in Sections 2.3(b), (c), (d), (e) and (f) of this Series Supplement are insufficient to pay (i) the Class A Adjusted Monthly Interest for any Payment Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency or (ii) the Class B Monthly Interest for any Payment Date, payments of interest to the Class B Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-1 Notes shall be referred to as the “Class A-1 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-2 Notes shall be referred to as the “Class A-2 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-3 Notes shall be referred to as the “Class A-3 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-4 Notes shall be referred to as the “Class A-4 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-5 Notes shall be referred to as the “Class A-5 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class A-6 Notes shall be referred to as the “Class A-6 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-1 Notes shall be referred to as the “Class B-1 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-2 Notes shall be referred to as the “Class B-2 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-3 Notes shall be referred to as the “Class B-3 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-4 Notes shall be referred to as the “Class B-4 Deficiency Amount”, the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-5 Notes shall be referred to as the “Class B-5 Deficiency Amount” and the aggregate amount, if any, of such deficiency on any Payment Date allocable to the Class B-6 Notes shall be referred to as the “Class B-6 Deficiency Amount”. Interest shall accrue on the Deficiency Amount for each Class of Series 2005-2 Notes at th...
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Related to Deficiency Amounts

  • Excess Finance Charge Collections Any amounts remaining in the Cap Proceeds Account, the Collection Account and the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xii) of the Agreement, shall be treated as Excess Finance Charge Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Securityholders of other Series to the extent of shortfalls, if any, in amounts payable to such Securityholders from Finance Charge Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then on each Business Day other than the Default Recognition Date, to pay to the Transferor to be treated as "Transferor Retained Finance Charge Collections," and, on each Default Recognition Date, to pay any remaining Excess Finance Charge Collections to the Transferor. Notwithstanding the foregoing, if on any Default Recognition Date the sum of the amount of Available Series 1998-3 Finance Charge Collections (including, all amounts on deposit in the Payment Reserve Account) and Transferor Retained Finance Charge Collections is less than the Series Default Amount for such Default Recognition Date, the Servicer shall apply amounts deposited in the Accumulation Period Reserve Account pursuant to subsection 4.9(a)(xi) of the Agreement and the Spread Account pursuant to subsection 4.9(a)(viii) of the Agreement during the then current Monthly Period in accordance with subsection 4.9(a)(iii) of the Agreement to the extent of such shortfall.

  • Collateral Shortfalls In the event that amounts on deposit in the Collateral Fund at any time are insufficient to cover any withdrawals therefrom that the Company is then entitled to make hereunder, the Purchaser shall be obligated to pay such amounts to the Company immediately upon demand. Such obligation shall constitute a general corporate obligation of the Purchaser. The failure to pay such amounts within two Business Days of such demand (except for amounts to cover interest on a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an immediate termination of the Purchaser's right to make any Election to Delay Foreclosure or Election to Foreclose and the Company's obligations under this Agreement with respect to all Mortgage Loans to which such insufficiencies relate, without the necessity of any further notice or demand on the part of the Company.

  • Available Funds The Company will distribute its Available Funds to the Member in such amounts and at such times as the Member may determine.

  • Defaulted Amounts; Investor Charge-Offs (a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series 2022-2 with respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2022-2 with respect to such Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such Distribution Date (a “Class A Investor Charge-Off”). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(b). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. (b) On each Determination Date, the Servicer shall calculate the Class B Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2022-2 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(d) and (y) the Reallocated Principal Collections allocable to the Collateral Interest and not required to pay the Class A Required Amount with respect to such Distribution Date, then the Collateral Invested Amount shall be reduced by the amount of such excess. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class B Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date (a “Class B Investor Charge-Off”). Class B Investor Charge-Offs shall thereafter be reimbursed and the Class B Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(e). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. (c) On each Determination Date, the Servicer shall calculate the Collateral Default Amount. If on any Distribution Date the Collateral Default Amount for the previous Monthly Period exceeds the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2022-2 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Default Amount and the Collateral Invested Amount for such Distribution Date (a “Collateral Charge-Off”). The Collateral Invested Amount will be reimbursed after any reduction pursuant to this Section 4.06 on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available on such Distribution date for that purpose as described under subsection 4.07(i).

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.