Available Funds Shortfall definition

Available Funds Shortfall as defined in Section 3.04(b).

Available Funds Shortfall means, for any Payment Date and the related Collection Period, the positive difference, if any, of (i) the amount necessary to make all distributions required to be made pursuant to clauses (i) through (iv) of Section 2.07 over (ii) Collections on deposit in the Collection Account, to the extent received during or in respect of such Collection Period.

Available Funds Shortfall. Any of the Group I Available Funds Shortfall or the Group II Available Funds Shortfall.

Examples of Available Funds Shortfall in a sentence

• The Notice shall constitute a claim for an Insured Payment pursuant to the Policy for an amount equal to the Available Funds Shortfall.

• The payment of any amounts made pursuant to clause C(x) or D(x), as applicable, of Section 6.01(a) to fund any Group I Available Funds Shortfall shall be applied as provided in clauses A(i) through A(x), in that order, or B(i) through B(x), in that order, as applicable, of Section 6.01(a).

• The payment of any amounts made pursuant to clause A(xi) or B(xi), as applicable, of Section 6.01(a) to fund any Group II Available Funds Shortfall shall be applied as provided in clauses C(i) through C(viii), in that order, or D(i) through D(viii), in that order, as applicable, of Section 6.01(a).

• In addition, in the event that the Available Funds Shortfall is greater than the Available Reserve Amount, then, the Trustee shall transfer, not later than the end of such Business Day, from the Residual Account to the Collection Account, an amount equal to the lesser of (i) the remaining Available Funds Shortfall and (ii) the amount, if any, on deposit in the Residual Account and available therefore.

• If the 2012-A Available Funds Shortfall Amount for any Payment Date is greater than zero, the Indenture Trustee will withdraw, or cause to be withdrawn, from the 2012-A Reserve Account an amount equal to the 2012-A Reserve Account Draw Amount and transfer the 2012-A Reserve Account Draw Amount to the 2012-A Exchange Note Collection Account on or prior to the related Payment Date, which amount shall be applied towards making distributions on such Payment Date.

More Definitions of Available Funds Shortfall

Available Funds Shortfall. With respect to any Class of Notes and any Payment Date, the sum of (a) the excess, if any, of (i) the amount that would have been the Current Interest for such Class had the Interest Rate for such Class been determined without regard to the Available Funds Rate over (ii) the actual amount of Current Interest for such Class, plus (b) any excess described in clause (a) above and interest described in clause (c) below for any prior Payment Date that remains unpaid, plus (c) interest accrued during the Accrual Period related to such Payment Date on the amount described in clause (b) above at the Interest Rate applicable to such Class, determined without regard to the Available Funds Rate.

Available Funds Shortfall. For the Class B-2 Notes and any Payment Date, the sum of:

Available Funds Shortfall. The Group I Available Funds Shortfall or the Group II Available Funds Shortfall, as the case may be.

Available Funds Shortfall. As to any Remittance Date, the amount, if any, by which the Available Distribution Amount is less than the amount required to be distributed on the Certificates on such Remittance Date pursuant to clauses A(i) through (x) or clauses B(i) through (x), as applicable, of Section 6.01(a).

Available Funds Shortfall. With respect to any Distribution Date, an amount equal to the excess of the Insured Distribution Amount for such Distribution Date over the Available Funds for such Distribution Date available for distribution in respect of such Insured Distribution Amount.

Available Funds Shortfall. A Fixed Rate Group Available Funds Shortfall or Adjustable Rate Group Available Funds Shortfall, as the case may be.

Available Funds Shortfall. For any Class of Notes and any Payment Date, the sum of (a) the excess, if any, of (i) the amount that would have been the Current Interest for such Class had the Interest Rate for such Class been determined without regard to the Available Funds Rate over (ii) the actual amount of Current Interest paid for such Class, plus (b) any excess described in clause (a) for any prior Payment Date that remains unpaid, plus (c) interest accrued during the Accrual Period related to such Payment Date on the amount described in clause (b) at the Interest Rate applicable to such Class, determined without regard to the Available Funds Rate. Bankruptcy Code: The United States Bankruptcy Reform Act of 1978, as amended.