Available Interest Amount. (i) with respect to all series of Notes, means the Available Interest Amount (as defined in the Series 2002-CC Supplement) which is payable to the Series 2002-CC Certificateholder pursuant to Article V of the Pooling and Servicing Agreement as supplemented by the Series 2002-CC Supplement plus any amounts to be treated as Available Interest Amounts pursuant to Section 403(d) and (ii) with respect to any series of Notes, has the meaning specified in the related Indenture Supplement.
Available Interest Amount means, as of any date of determination, accrued and to accrue Bond interest from the beginning of the Accrual Period to the next Reset Date, described as follows. Available Interest Amount is only used in the context of establishing the Maximum Reset Rate where all the Bonds are not fixed rate bonds and is only calculated on a Reset Date. Accrued and to accrue Bond interest will be determined on a Bond by Bond basis as the product of the Bond Rate and the related Outstanding Bond Balance, calculated for each preceding day in the applicable Accrual Period and each day up to and including the next Reset Date; however, if the Bond Rate has not been determined for any day up to and including the next Reset Date, then the Bond Rate for such day will be deemed to be the minimum stated rate of interest on the Bonds. Available Interest Amount will never be more than interest on the Bonds regardless of any calculation previously made. Available Interest Amount is expressed as the variable “AIA” in the following formula:2 AIA = AI+TAI where AI = accrued interest for each preceding day in the Accrual Period TAI = interest that will accrue for each day up to and including the next Reset Date (but only at the minimum stated interest unless the interest rate is known) Assumptions: 1. Bonds bear variable interest tied to the SIFMA Municipal Swap Index (“SIFMA”) are reset on the same day as a Weekly Reset Date.
Available Interest Amount means, with respect to each Payment Date, an amount calculated by the Calculation Agent on the Calculation Date immediately preceding such Payment Date as the sum of (but excluding, for the avoidance of doubt, any amounts payable by the Issuer outside of the Pre-Enforcement Interest Priority of Payments):
Examples of Available Interest Amount in a sentence
The Issuer shall reallocate and redistribute certain excess Available Interest Amounts to cover Series Available Interest Amount Shortfalls incurred by other series as specified in the related Indenture Supplements.
All such Eligible Investments shall be held by the Indenture Trustee for the benefit of the Noteholders; provided, however, that on each Distribution Date all investment earnings (net of losses and investment expenses) on funds on deposit therein shall be deposited into the Collection Account and shall be deemed to constitute a portion of the Available Interest Amount.
If the aggregate Excess Available Interest Amounts for such Transfer Date is greater than the aggregate amount of Series Available Interest Amount Shortfalls for such Transfer Date, the excess shall be deemed Excess Finance Charge Collections from the Collateral Certificate and allocated in accordance with the Pooling and Servicing Agreement.
Any Shared Excess Available Interest Amounts allocable to Series 2004-B will be treated as part of the Series 2004-B Available Interest Amount pursuant to Section 3.17(a).
The Borrower hereby agrees to pay to the Agent’s Account for the benefit of the Lenders on each Settlement Date interest in an amount equal to the lesser of (x) the Available Interest Amount for such Settlement Date and (y) the Borrower Accrued Interest Amount for such Settlement Date.
More Definitions of Available Interest Amount
Available Interest Amount means, as of any date of determination, accrued and to accrue Bond interest from the beginning of the Accrual Period to the next Reset Date, described as follows. Available Interest Amount is only used in the context of establishing the Maximum Reset Rate where all the Bonds are not fixed rate bonds and is only calculated on a Reset Date. Accrued and to accrue Bond interest will be determined on a Bond by Bond basis as the product of the Bond Rate and the related Outstanding Bond Balance, calculated for each preceding day in the applicable Accrual Period and each day up to and including the next Reset Date; however, if the Bond Rate has not been determined for any day up to and including the next Reset Date, then the Bond Rate for such day will be deemed to be the minimum stated rate of interest on the
Available Interest Amount. ' means, as of any date of determination, accrued and to accrue Bond interest from the beginning of the Accrual Period to the next Reset Date, described as follows. Available Interest Amount is only used in the context of establishing the Maximum Reset Rate where all the Bonds are not fixed rate bonds and is only calculated on a Reset Date. Accrued and to accrue Bond interest will be determined on a Bond by Bond basis as the product of the Bond Rate and the related Outstanding Bond Balance, calculated for each preceding day in the applicable Accrual Period and each day up to and including the next Reset Date; however, if the Bond Rate has not been determined for any day up to and including the next Reset Date, then the Bond Rate for such day will be deemed to be the minimum stated rate of interest on the Bonds. Available Interest Amount will never be more than interest on the Bonds regardless of any calculation previously made. Available Interest Amount is expressed as the variable ""AIA'' in the following formula:1
Available Interest Amount has the meaning specified in Section 2.05(b)(iv).
Available Interest Amount means, for any Settlement Date, the aggregate amount of cash and Cash Equivalents credited to the Collection Account on such Settlement Date.
Available Interest Amount means, with respect to any Distribution Date, the sum of the following amounts, without duplication, with respect to the preceding Collection Period: (i) the portion of all Collections received during such Collection Period (including any such amounts constituting Prepayment Proceeds and the discounted portion of any Discounted Receivable) allocable to interest, (ii) all Investment Earnings with respect to such Distribution Date, (iii) all Liquidation Proceeds and Recoveries received during such Collection Period and (iv) the portion of all Acquisition Amounts received during such Collection Period allocable to interest, but excluding in all cases (x) all payments and proceeds (including Liquidation Proceeds and Recoveries) of any Acquired Receivables the principal portion of which has been included in the Principal Distribution Amount in a prior Collection Period and (y) any Excluded Amounts.
Available Interest Amount means, with respect to any Distribution Date, the sum of the following amounts, without duplication, with respect to the preceding Collection Period: (i) the portion of all Collections received during such Collection Period (including any such amounts constituting Prepayment Proceeds) allocable to interest, (ii) all Investment Earnings with respect to such Distribution Date, and (iii) the portion of all Liquidation Proceeds, Recoveries and Purchase Amounts received during such Collection Period allocable to interest, but excluding (x) all payments and proceeds (including Liquidation Proceeds) of any Purchased Receivables the principal portion of which has been included in the Principal Distribution Amount in a prior Collection Period and (y) any Excluded Amounts.
Available Interest Amount means, as of any date of determination, accrued and to accrue interest on an Asset from the beginning of the Accrual Period to the next Reset Date, described as follows. Available Interest Amount is only used in the context of establishing the Maximum Reset Rate where all the Assets are not fixed rate and is only calculated on a Reset Date. Accrued and to accrue interest on an Asset will be determined on an Asset by Asset basis as the product of the Asset Rate and the related Outstanding Asset Balance, calculated for each preceding day in the applicable Accrual Period and each day up to and including the next Reset Date; however, if the Asset Rate has not been determined for any day up to and including the next Reset Date, then the Asset Rate for such day will be deemed to be the minimum stated rate of interest on the Assets. Available Interest Amount will never be more than interest on the Assets regardless of any calculation previously made. Available Interest Amount is expressed as the variable “AIA” in the following formula:(1)