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Payment Priorities definition

Payment PrioritiesÌýmeans the priority of PRO RATA distributions described in clause (iii) of priority THIRD of Section 3.03(a).
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Payment PrioritiesÌýhas the meaning given to it in the Conditions;
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Payment PrioritiesÌýhas the meaning ascribed to it in Section 1.4 hereof.
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Examples of Payment Priorities in a sentence

  • Roe, The Derivatives Market’s Payment Priorities as Financial Crisis Accelerator, 63 STAN.

  • On each distribution date, if collections on the receivables and advances by the servicer are insufficient to pay the first three items listed under "Payment Priorities" above, the indenture trustee will withdraw funds (if available) from the reserve account to pay those amounts.

  • In addition, pursuant to the Common Representative Agreement, the Transaction Management Agreement and the Conditions, the claims of certain Transaction Creditors and of third-party expenses creditors will rank senior to the claims of the Noteholders in accordance with the relevant Payment Priorities.

  • PG&E currently operates a number of separate programs that address each of the groups listed above.

  • Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payment Priorities.

  • In addition, as between any two Classes of Initial Notes, Noteholders of the junior Class (determined in accordance with the Payment Priorities set out above) will not be entitled to receive any payments in respect of such Notes until after the Noteholders of the more senior Class have received full payment of any amounts due in respect of such senior Notes.

  • For the avoidance of doubt, if Additional Tranches or Additional Classes of Notes are issued, Noteholders of any Initial Notes that are junior to any such Additional Tranches and/or Classes would not be entitled to receive any payments in respect of such Initial Notes until after the Noteholders of more senior Additional Classes and/or Tranches of Notes (determined in accordance with the Payment Priorities set out above) had received full payment of any amounts due in respect of such senior Notes.

  • If an Interest Deferral Trigger Event does not occur on the subsequent Determination Date, the Interest Amount in respect of the Class B Notes for the following Interest Payment Date will be paid under item fifth of the Pre-Enforcement Payment Priorities.

  • If a Hedging Agreement is terminated and the Issuer is unable to find a replacement Hedge Counterparty, then the funds available to the Issuer may be insufficient to meet fully its obligations under the Bonds, as a result of adverse fluctuations in interest rates and exchange rates or making any termination payment to the Hedge Counterparty, which payment will be in accordance with the Payment Priorities (see Chapter 7 “Summary of the Financing Agreements â€� Cash Managementâ€�).

  • The satisfaction of the Noteholdersâ€� and other Transaction Creditorsâ€� credit entitlements, upon delivery of an Enforcement Notice or the occurrence of an Optional Redemption Event and the Notes becoming immediately due and payable in accordance with the Post-Enforcement Payment Priorities, will depend on the actual access to the Transaction Assets.


More Definitions of Payment Priorities

Payment PrioritiesÌýas set out in the Security Trust and Intercreditor Deed are the priorities set out below:
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Payment PrioritiesÌýmeans payment of Bonds in the following order of priority:
Payment PrioritiesÌýmeans the provisions relating to the order of priority of payments set out in paragraph 9.3 of schedule 11 (Cash Management) to the Common Terms Agreement as adjusted following the taking of any Enforcement Action and following termination of a Standstill (other than pursuant to clause 13.4.1(iii) (Termination of Standstill) of the STID) in accordance with paragraph 9.3 of schedule 11 (Cash Management) to the Common Terms Agreement;
Payment PrioritiesÌýmeans the priority of pro rata distributions described in clause (iii) of priority third of Section 3.03(a).
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Payment PrioritiesÌýmeans the Pre-Enforcement Priority of Payments and the Post-Enforcement Priority of Payments;
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Payment PrioritiesÌýmeans payment of Bonds in the following order of
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Related to Payment Priorities

  • Lowest Priority As of any date of determination, the Class of Subordinate Certificates then outstanding with the latest priority for payments pursuant to Section 4.02(a), in the following order: Class B-3, Class B-2, Class B-1, Class M-3, Class M-2 and Class M-1 Certificates.

  • Highest Priority As of any date of determination, the Class of Subordinate Certificates then outstanding with a Certificate Principal Balance greater than zero, with the earliest priority for payments pursuant to Section 4.02(a), in the following order: Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • First Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.