Common use of Fluctuation of Minimum Clause in Contracts

Fluctuation of Minimum. Seller Share on each Distribution Date: At the Initial Closing Date, the Minimum Seller Share will be (GBP)50,000,000. The amount of the Minimum Seller Share will be recalculated on each Distribution Date in accordance with the following formula: W + X + Y + Z where: W = 100% of the sum of the average cleared credit balance of all applicable accounts linked to Together Connections Mortgage Loans and Connections Mortgage Loans in respect of each calendar month or any part of any such calendar month. X = 2.0% of the aggregate Current Balance of all Mortgage Loans comprised in the Trust Property as at the last day of the immediately preceding Trust Calculation Period; Y = the product of: p x q x r where: p = 8%; q = the sum of (i) the "Flexible Cash Re-Draw Capacity", being an amount equal to the difference between (1) the maximum amount of Cash Re-draws that Borrowers may draw under Flexible Mortgage Loans included in the Trust Property (whether or not drawn) as at the last day of the immediately preceding Trust Calculation Period and (2) the aggregate Current Balance of Cash Re-draws which form part of the Trust Property as at the last day of the immediately preceding Trust Calculation Period; and (ii) the "Further Draw Capacity", being an amount equal to the difference between (1) the maximum amount of Further Draws that Borrower may make under Personal Secured Loans included in the Trust Property (whether or not drawn) as at the last day of the immediately preceding Trust Calculation Period and (2) the aggregate Current Balance of Personal Secured Loans which form part of the Trust Property as at the last day of the immediately preceding Trust Calculation Period; and

Fluctuation of Minimum. Seller Share on each Distribution Date: At the Initial Closing Date, the Minimum Seller Share will be (GBP)50,000,000pound)50,000,000. The amount of the Minimum Seller Share will be recalculated on each Distribution Date in accordance with the following formula: W + X + Y + Z W+X+Y+Z where: W = W= 100% of the sum of the average cleared credit balance of all applicable accounts linked to Together Connections Mortgage Loans and Connections Mortgage Loans in respect of each calendar month or any part of any such calendar month. X = X= 2.0% of the aggregate Current Balance of all Mortgage Loans comprised in the Trust Property as at the last day of the immediately preceding Trust Calculation Period; Y = Y= the product of: p x q x r where: p = p= 8%; q = q= the sum of (i) the "Flexible Cash Re-Draw Capacity", being an amount equal to the difference between (1) the maximum amount of Cash Re-draws that Borrowers may draw under Flexible Mortgage Loans included in the Trust Property (whether or not drawn) as at the last day of the immediately preceding Trust Calculation Period and (2) the aggregate Current Balance of Cash Re-draws which form part of the Trust Property as at the last day of the immediately preceding Trust Calculation Period; and (ii) the "Further Draw Capacity", being an amount equal to the difference between (1) the maximum amount of Further Draws that Borrower may make under Personal Secured Loans included in the Trust Property (whether or not drawn) as at the last day of the immediately preceding Trust Calculation Period and (2) the aggregate Current Balance of Personal Secured Loans which form part of the Trust Property as at the last day of the immediately preceding Trust Calculation Period; and