Insufficient Amounts Clause Samples

The 'Insufficient Amounts' clause defines the procedures and consequences when a party fails to provide or maintain the required funds, assets, or collateral as stipulated in an agreement. Typically, this clause outlines the steps the non-defaulting party may take, such as issuing a notice of deficiency, demanding additional funds, or exercising rights to liquidate assets to cover the shortfall. Its core function is to ensure that obligations are adequately secured and to provide a clear mechanism for addressing shortfalls, thereby reducing financial risk and uncertainty for the parties involved.
Insufficient Amounts. If the amount to be applied under Section 14.2 falls short of the amount outlined in any of the items thereunder, with respect to the first item not fully covered (the “Item Not Fully Covered”), the remaining amount, after the application to the item of the next highest order of priority, shall be applied after the proration in proportion to the amount of the individual payment obligations owed by the Borrower regarding the Item Not Fully Covered, which have become due and payable.
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Insufficient Amounts. Except as provided in Sections 4.1(b) and 4.6(d) hereof, to the extent the applicable Owner Lessor Percentage of the amounts on deposit in any Account (or, if the Account has subaccounts, in the applicable subaccount) are insufficient to fully satisfy any transfer requirement from such Account (or, if the Account has subaccounts, the applicable subaccount) under this Article IV, such transfer shall be made to the extent of the amounts on deposit in such Account (or, if the Account has subaccounts, the applicable subaccount). In addition, if (i) any transfer requirements from any Account (or, if the Account has subaccounts, the applicable subaccount) in this Article IV share the same level of priority and (ii) the funds equal to the applicable Owner Lessor Percentage of the funds in such Account (or, if the Account has subaccounts, the funds in the applicable subaccount) are insufficient to satisfy in full all such transfer requirements which share such level of priority, such transfers shall be made on a pro rata basis to the extent of the amounts on deposit in such Account (or, if the Account has subaccounts, the funds in the applicable subaccount).
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Insufficient Amounts. To the extent the amounts on deposit in any Account are insufficient to fully satisfy any transfer or release requirement from such Account under this Article V, such transfer or release shall be made to the extent of the amount on deposit in such Account (after the sale of all instruments, investments and securities held in the Account). In addition, if any transfer and/or release requirements from any Account in this Article V share the same level of priority and there are insufficient funds in such Account to satisfy in full all such transfer and/or release requirements which share such level of priority, such transfers and/or releases shall be made on a pro rata basis to the extent of the amount on deposit in such Account; provided that if payments on account of principal, interest and/or other amounts due on the Senior Debt share the same level of priority, the funds released on account of such payment of Senior Debt shall be applied as follows: first, to the payment of accrued interest on such Senior Debt to the date of such payment; second, to the payment of the principal amount of such Senior Debt and L/C Reimbursement Obligations then due; and third, to the payment of any such other amounts that share the same level of priority.
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Insufficient Amounts. If the amounts in the Interest Payment Account are insufficient on any date to make the transfers and payments specified in clause (b) above (after giving effect to withdrawals and transfers pursuant to Section 3.14(b)), then the amounts on deposit in or credited to the Interest Payment Account at such time shall be transferred to Administrative Agent and any Permitted Hedge Counterparty pro rata based on the respective amounts then due and payable to such Persons (or the Credit Parties), which amounts shall be specified to Depositary Agent in writing by Administrative Agent.
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Insufficient Amounts. To the extent the amounts on deposit in the Revenue Account are insufficient to fully satisfy any transfer or release requirement from the Revenue Account under Article V, such transfer or release shall be made to the extent of the amount on deposit in the Revenue Account (after the sale of all instruments, investments and securities held in the Revenue Account).
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Insufficient Amounts. If insufficient amounts are available for full offset by Owner, then Contractor, upon receipt of Owner’s written notice of Contractor’s outstanding obligations hereunder, shall promptly remit to Owner all amounts properly due and owing pursuant to the terms of this Agreement. Should Contractor fail to pay any such amount within [***] Days after Owner’s notice (reserving its right to draw on the Letter of Credit), Owner may at its sole and absolute discretion draw on the Letter of Credit for such amounts, in addition to any other remedies that may be available to it under this Agreement.
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Insufficient Amounts. Except as provided in Section 4.1(b) hereof, to the extent the amounts on deposit in any Account (or applicable subaccount) are insufficient to fully satisfy any transfer requirement from such Account (or applicable subaccount) under this Article IV, such transfer shall be made to the extent of the amounts on deposit in such Account (or applicable subaccount). In addition, if (i) any transfer requirements from any Account (or applicable subaccount) in this Article IV share the same level of priority and (ii) there are insufficient funds in such Account (or applicable subaccount) to satisfy in full all such transfer requirements which share such level of priority, such transfers shall be made on a pro rata basis to the extent of the amounts on deposit in such Account (or applicable subaccount).
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Insufficient Amounts. To the extent the amounts on -------------------- deposit in any Account are insufficient to fully satisfy any transfer requirement from such Account under this Article IV, such transfer shall be made to the extent of the amounts on deposit in such Account. In addition, if (i) any transfer requirements from any Account in this Article IV share the same level of priority and (ii) there are insufficient funds in such Account to satisfy in full all such transfer requirements which share such level of priority, such transfers shall be made on a pro rata basis to the extent of the --- ---- amounts on deposit in such Account, provided that if payments on account of -------- principal, interest and other Debt Service due on the Senior Debt share the same level of priority, the funds released on account of such payment of Senior Debt shall be applied, first, to the payment of accrued interest (or, in the case of ----- Swap Indebtedness, accrued amounts) on such Senior Debt to the date of such payment, second, to the payment of the principal amount (or, in the case of Swap ------ Indebtedness, termination payments) of such Senior Debt then due and payable, and third, to the payment of any other Debt Service then due and payable with ----- respect to such Senior Debt.
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Insufficient Amounts. (i) In accordance with Section 5.11(d), to the extent there are insufficient amounts in the Revenue Account to make the transfers required by any or all of clauses First through Ninth of Section 5.02(b) on any Transfer Date, amounts shall be transferred by the Collateral Agent (without the requirement of a Funds Transfer Certificate and without any further direction of any Repauno Entity) from the Equity Lock-Up Account to the Revenue Account in an amount up to the amount of such shortfall and applied in the priority set forth in Section 5.02(b). (ii) In accordance with Sections 5.05(d) and (e), 5.06(f), 5.07 and 5.08, to the extent, after application of the funds available pursuant to clause (i) of this Section 5.02(e), there are insufficient amounts in the Revenue Account to make the transfers required by clauses Fifth or Sixth of Section 5.02(b) on any Transfer Date, amounts shall be transferred by the Collateral Agent (without the requirement of a Funds Transfer Certificate and without any further direction of any Repauno Entity) from the following accounts in the following priority to the Revenue Account in an amount up to the amount of such shortfall and applied in the priority set forth in Section 5.02(b): first, the Ramp-Up and Project Operating Reserve Account; second, the Repair and Replacement Reserve Account and third the applicable sub-account of the Debt Service Reserve Account; provided that any unused Revolver Availability may be used to satisfy such shortfall in whole or in part.
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Related to Insufficient Amounts

  • Insufficient Funds If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.

  • Insufficient Shares The Company may at its option substitute for a Common Share issuable upon the exercise of Rights in accordance with the foregoing Section 11.1.2 a number of Preferred Shares or fraction thereof such that the current per share market price of one Preferred Share multiplied by such number or fraction is equal to the current per share market price of one Common Share. In the event that upon the occurrence of one or more of the events listed in Section 11.1.2 above there shall not be sufficient Common Shares authorized but unissued, or held by the Company as treasury shares, to permit the exercise in full of the Rights in accordance with the foregoing Section 11.1.2, the Company shall take all such action as may be necessary to authorize additional Common Shares for issuance upon exercise of the Rights, PROVIDED, HOWEVER, that if the Company determines that it is unable to cause the authorization of a sufficient number of additional Common Shares, then, in the event the Rights become exercisable, the Company, with respect to each Right and to the extent necessary and permitted by applicable law and any agreements or instruments in effect on the date hereof to which it is a party, shall: (A) determine the excess of (1) the value of the Adjustment Shares issuable upon the exercise of a Right (the "CURRENT VALUE"), over (2) the Purchase Price (such excess, the "SPREAD") and (B) with respect to each Right (other than Rights which have become void pursuant to Section 11.1.2), make adequate provision to substitute for the Adjustment Shares, upon payment of the applicable Purchase Price, (1) cash, (2) a reduction in the Purchase Price, (3) Preferred Shares or other equity securities of the Company (including, without limitation, shares, or fractions of shares, of preferred stock which, by virtue of having dividend, voting and liquidation rights substantially comparable to those of the Common Shares, the Board of Directors of the Company has deemed in good faith to have substantially the same value as Common Shares) (each such share of preferred stock or fractions of shares of preferred stock constituting a "COMMON STOCK EQUIVALENT")), (4) debt securities of the Company, (5) other assets or (6) any combination of the foregoing having an aggregate value equal to the Current Value, where such aggregate value has been determined by the Board of Directors of the Company based upon the advice of a nationally recognized investment banking firm selected in good faith by the Board of Directors of the Company; PROVIDED, HOWEVER, that if the Company shall not have made adequate provision to deliver value pursuant to clause (B) above within thirty (30) days following the first occurrence of one of the events listed in Section 11.1.2 above, then the Company shall be obligated to deliver, to the extent necessary and permitted by applicable law and any agreements or instruments in effect on the date hereof to which it is a party, upon the surrender for exercise of a Right and without requiring payment of the Purchase Price, Common Shares (to the extent available) and then, if necessary, such number or fractions of Preferred Shares (to the extent available) and then, if necessary, cash, which shares and/or cash have an aggregate value equal to the Spread. If the Board of Directors of the Company shall determine in good faith that it is unlikely that sufficient additional Common Shares could be authorized for issuance upon exercise in full of the Rights, the thirty (30) day period set forth above may be extended and re-extended to the extent necessary, but not more than ninety (90) days following the first occurrence of one of the events listed in Section 11.1.2 above, in order that the Company may seek stockholder approval for the authorization of such additional shares (such period as may be extended, the "SUBSTITUTION PERIOD"). To the extent that the Company determines that some action need be taken pursuant to the second and/or third sentences of this Section 11.1.3, the Company (x) shall provide that such action shall apply uniformly to all outstanding Rights, and (y) may suspend the exercisability of the Rights until the expiration of the Substitution Period in order to seek any authorization of additional shares and/or to decide the appropriate form of distribution to be made pursuant to such first sentence and to determine the value thereof. In the event of any such suspension, the Company shall issue a public announcement stating that the exercisability of the Rights has been temporarily suspended as well as a public announcement at such time as the suspension is no longer in effect. For purposes of this Section 11.1.3, the value of a Common Share shall be the current per share market price (as determined pursuant to Section 11.4) on the date of the occurrence of a Trigger Event and the value of any "common stock equivalent" shall be deemed to have the same value as the Common Shares on such date. The Board of Directors of the Company may, but shall not be required to, establish procedures to allocate the right to receive Common Shares upon the exercise of the Rights among holders of Rights pursuant to this Section 11.1.3. Actions of the Company pursuant to this Section 11.1.3 shall require the vote of a majority of the Board of Directors.

  • Non-Sufficient Funds Tenant shall be charged $ for each check that is returned to Landlord for lack of sufficient funds.

  • NON-SUFFICIENT FUNDS (NSF CHECKS) If the Tenant pays the Rent with a check that is not honored due to insufficient funds (NSF): (check one)

  • Sufficient Funds Buyer has, and will have at the Effective Time, sufficient funds to consummate the transactions contemplated by this Agreement, subject to the terms and conditions of this Agreement.