The Master Developer may submit one (1) Principal Advance Certificate per month to the Authority.įollowing Senior Funding Completion, such Collections shall be retained by the Transferor, either as payments of the Finance Charge Collections or Principal Collections due to it or as Finance Charge Advance Payments or Principal Advance Payments (and, if they are Principal Advance Payments, such amounts will continue to be held in the Transferor Collection Account on trust for the Receivables Trustee). The contractor shall fund all Lease Schedules without regard to any subcontract relationship the contractor has involving third parties, including any agreements the contractor enters into to secure a source of money to fund any Lease Schedule Principal Advance. It is anticipated that Principal Advance Payments will typically be released to the Transferor in consideration for the assignment of new Receivables to the Receivables Trustee. The Authority may, if not satisfied that the conditions described herein have been met, return the Principal Advance Certificate with a statement of the reasons why the Principal Advance Certificate is not acceptable and requesting such further documentation or clarification as the Authority may reasonably require.Īll issued and outstanding shares of the Acquiror Company’s Common Stock immediately prior to the Repurchase and the Share Exchange are duly authorized, validly issued, fully paid and nonassessable, and have not been issued in violation of any preemptive or similar rights. The consultants agreed the Individual and Unique Plaintiffs advance/case count totals and the total Portfolio Principal Advance Amount in the schedules included in the Indicative Portfolio & Strats data file provided by the Client to the Data Tape without exception. The Loan shall bear interest on the outstanding principal amount from the date of each Principal Advance until such amounts are repaid to Lender in full, at the rate of 10% per annum.Īgree the Individual and Unique Plaintiffs advance/case count totals and the total Portfolio Principal Advance Amount in the schedules included in the Indicative Portfolio & Strats data file provided by the Client to the Data Tape.

Principal definition loan