Initial Excess Cash Payment Date Clause Samples

Initial Excess Cash Payment Date. (i) On the Issue Date, the Issuer shall transfer and deposit, or cause to be transferred and deposited, to the Distribution Account, an amount in cash equal to the Pre-Issue Excess Cash determined as of the Pre-Issue Cut-off Date, and shall notify the Trustee and Paying Agent of the deposit and deliver to them a calculation thereof in the form of Appendix G. (ii) Not later than the second (2nd) Business Day prior to the Initial Excess Cash Payment Date, the Issuer shall disclose on its website (which shall be publicly accessible) and, if the Notes are registered in the name of the Depositary, send notice thereof to the Depositary in accordance with its Applicable Procedures of (i) the amount of the Pre-Issue Date Excess Cash to be paid on the Initial Excess Cash Payment Date and (ii) the amount in redemption of principal payable on the Initial Excess Cash Payment Date with respect to each series of Notes per $1.00 Outstanding Principal Balance of the respective series. (iii) On the Initial Excess Cash Payment Date, the Paying Agent shall make the following distributions of the amounts transferred to the Distribution Account pursuant to Section 3.09(a)(i), in the following order of priority, from the Distribution Account: (A) First, to the Holders of record of the A Notes as of the Issue Date, the interest accrued but unpaid through the day immediately preceding the Initial Excess Cash Payment Date on such portion of the A Notes to be redeemed on the Initial Excess Cash Payment Date pursuant to clause (B) hereof; (B) Second, to the Holders of record of the A Notes as of the Issue Date, pro rata in proportion to the Outstanding Principal Balance of each of them, as a redemption payment until the principal thereof, has been paid in full; (C) Third, to the Holders of record of the B Notes as of the Issue Date, the interest accrued but unpaid through the day immediately preceding the Initial Excess Cash Payment Date on such portion of the B Notes to be redeemed on the Initial Excess Cash Payment Date pursuant to clause (D) hereof; and (D) Fourth, to the Holders of record of the B Notes as of the Issue Date, pro rata in proportion to the Outstanding Principal Balance of each of them, as a redemption payment until the principal thereof has been paid in full.
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Related to Initial Excess Cash Payment Date

  • Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “

  • Distribution Date 13 DTC...........................................................................................13

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Payments from the Gross Settlement Amount Within 14 days after Defendant funds the Gross Settlement Amount, the Administrator will mail checks for all Individual Class Payments, all Individual PAGA Payments, the LWDA PAGA Payment, the Administration Expenses Payment, the Class Counsel Fees Payment, the Class Counsel Litigation Expenses Payment, and the Class Representative Service Payment. Disbursement of the Class Counsel Fees Payment, the Class Counsel Litigation Expenses Payment and the Class Representative Service Payment shall not precede disbursement of Individual Class Payments and Individual PAGA Payments. 4.4.1. The Administrator will issue checks for the Individual Class Payments and/or Individual PAGA Payments and send them to the Class Members via First Class U.S. Mail, postage prepaid. The face of each check shall prominently state the date (not less than 120 days after the date of mailing) when the check will be voided. The Administrator will cancel all checks not cashed by the void date. The Administrator will send checks for Individual Settlement Payments to all Participating Class Members (including those for whom Class Notice was returned undelivered). The Administrator will send checks for Individual PAGA Payments to all Aggrieved Employees including Non-Participating Class Members who qualify as Aggrieved Employees (including those for whom Class Notice was returned undelivered). The Administrator may send Participating Class Members a single check combining the Individual Class Payment and the Individual PAGA Payment. Before mailing any checks, the Settlement Administrator must update the recipients’ mailing addresses using the National Change of Address Database. 4.4.2. The Administrator must conduct a Class Member Address Search for all other Class Members whose checks are retuned undelivered without USPS forwarding address. Within 7 days of receiving a returned check the Administrator must re-mail checks to the USPS forwarding address provided or to an address ascertained through the Class Member Address Search. The Administrator need not take further steps to deliver checks to Class Members whose re-mailed checks are returned as undelivered. The Administrator shall promptly send a replacement check to any Class Member whose original check was lost or misplaced, requested by the Class Member prior to the void date. 4.4.3. For any Class Member whose Individual Class Payment check or Individual PAGA Payment check is uncashed and cancelled after the void date, the Administrator shall transmit the funds represented by such checks to the California Controller's Unclaimed Property Fund in the name of the Class Member thereby leaving no "unpaid residue" subject to the requirements of California Code of Civil Procedure Section 384, subd. (b). The Parties, Class Counsel and Defense Counsel represent that they have no interest or relationship, financial or otherwise, with the intended Cy Pres Recipient. 4.4.4. The payment of Individual Class Payments and Individual PAGA Payments shall not obligate Defendant to confer any additional benefits or make any additional payments to Class Members (such as 401(k) contributions or bonuses) beyond those specified in this Agreement. However, failure by a Participating Class Member and/or Aggrieved Employee to cash a check received in relation to this Agreement and/or Settlement does not result in him/her not being bound by and/or subject to this Agreement and/or Settlement. Rather, a Participating Class Member and/or Aggrieved Employee will be bound by and/or subject to this Agreement and/or Settlement regardless of whether he/she cashes any check(s) received in relation to same.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.