How a Licensee computes and allocates Prioritized Payments to SBA.

CFR · 2024-01-01 · US · Title 13

This section tells you how to compute Prioritized Payments, Adjustments and Charges on Participating Securities and determine the amounts you must pay. To distribute these amounts, see § 107.1540. (a) (2) (3) (b) (1) Prioritized Payments that you must pay (or have already paid) because you have sufficient profit are “Earned Prioritized Payments”. (2) Prioritized Payments that have not become payable because you lack sufficient profit are “Accumulated Prioritized Payments”. Treat all Prioritized Payments as “Accumulated” until they become “Earned” under this section. (3) Adjustments (computed under paragraph (f) of this section) and Charges (computed under § 107.1130(d)(2)) are “earned” according to the same criteria applied to Prioritized Payments. (c) (1) (2) (3) (d) (1) Bring the Accumulation Account up to date by adding to it all Prioritized Payments and Charges through the end of the appropriate fiscal period. (2) Determine whether you have profit for the purposes of this section by doing the following computation: (i) Cumulative Earmarked Profit (Loss) under § 107.1510(f); minus (ii) The Earned Payments Account balance; minus (iii) All Distributions previously made under §§ 107.1550, 107.1560 and 107.1570(a); minus (iv) Any Profit Participation previously allocated to SBA under § 107.1530, but not yet distributed. (3) The amount computed in paragraph (d)(2) of this section, if greater than zero, is your profit. If the amount is zero or less, you have no profit. (4) If yo

official document · source cfr-2024 · id 13:§ 107.1520