Available Income definition

Available Income means, on each Distribution Date, an amount calculated for each of the Paired Trusts as all funds on deposit in the applicable trust on that Distribution Date after that trust has (i) set aside an amount equal to the Fee Deduction Amount to pay fees and expenses, (ii) paid or received a payment from the other Paired Trust under the income distribution agreement and (iii) acquired treasuries with an aggregate purchase price equal to the Aggregate Par Amount of its shares as of that Distribution Date.

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Available Income means the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

Available Income means when the person has a legal interest in a liquidated sum and has the legal ability to make that sum available for support and maintenance.

Examples of Available Income in a sentence

• If the Up-MACRO Holding Trust has no Up-MACRO Available Income on such Distribution Date, then the Up-MACRO Holding Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts.

• If the Down-MACRO Holding Trust has no Down-MACRO Available Income on such Distribution Date, then the Down-MACRO Holding Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts.

• All Available Income in respect of the Purchased Loans shall be deposited by Master Seller and each Series Seller or the applicable Servicer directly into the Cash Management Account without any further action of Buyer.

• If the Up Trust has no Up Available Income on such Distribution Date, then the Up Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts.

• Income Distribution Payments and Income Distribution Payment Payer: With respect to any Distribution Date, if the Down Earned Income Accrual for the preceding Calculation Period is less than the Down Available Income for such Calculation Period, the Down Trust will pay the Down Income Distribution Payment to the Up Trust on the related Distribution Payment Date.

More Definitions of Available Income

Available Income means gross income, less:

Available Income means the Up Available Income or the Down Available Income, as applicable.

Available Income means, all Income other than (a) the Underlying Purchased Loan Reserves, and (b) Qualified Servicing Expenses.

Available Income means with respect to any Calculation Period, the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

Available Income means income that is actually available to the family or the assistance unit, and income in which the family or the assistance unit has a legal interest in a liquidated sum and has the legal ability to make such sum available for support and maintenance. When an assistance unit includes a dependent child who resides with a parent or a minor sibling, the Department shall consider the income of the parent and minor sibling as available income to the assistance unit.

Available Income means the total income, before taxes or other deductions, of each person residing within the same household, except, to the extent allowed by federal law, the earnings of a student under nineteen years of age enrolled in a secondary school or at the equivalent level of vocational or technical training, plus or minus such credits or deductions as may be prescribed by the family support division [of family services] by regulations for the sole purpose of complying with federal laws or regulations relating to this state's eligibility to receive federal funds for aid to families with dependent children payments, and such credits or deductions as may otherwise be prescribed by law;

Available Income means, in relation to the Trust for any Monthly Collection Period, the total of the following: