Available Redemption Funds definition

Available Redemption Funds has the meaning indicated in Condition 5(a);

Available Redemption Funds means, in respect of the Redemption Payment Date, the sum of:

Available Redemption Funds means as at any Determination Date, an amount calculated as the aggregate of:

Examples of Available Redemption Funds in a sentence

• The Issuer will cause the Administrator to determine, on each Principal Determination Date, the Available Redemption Funds and the amount of principal payable on each Note on the following Interest Payment Date.

• The Available Redemption Funds on a Principal Determination Date shall be apportioned between the Class A Notes, the Class B Notes and the Class C Notes to determine the Class A Available Redemption Funds and the Subordinated Available Redemption Funds as at such Principal Determination Date.

• Each Subordinated Lender will also agree to make advances available to the Issuer if and to the extent that the Issuer does not have sufficient Available Redemption Funds to enable it to make any Mandatory Further Advances which it is required to make.

• In addition, but without prejudice thereto, the Subordinated Lenders may, at their discretion, make available to the Issuer further amounts under the Subordinated Loan Agreement to enable the Issuer to make any Mandatory Further Advances if and to the extent that the Issuer so opts instead of using Available Redemption Funds which would otherwise be applied in making such Mandatory Further Advances.

• The principal amount so redeemable in respect of each Note (each a Redemption Amount) on the relevant Notes Payment Date shall be the Available Redemption Funds on the Notes Calculation Date relating to that Notes Payment Date divided by the number of Notes of the relevant Class subject to such redemption (rounded down to the nearest euro), provided always that the Redemption Amount may never exceed the Principal Amount Outstanding of the relevant Note.

More Definitions of Available Redemption Funds

Available Redemption Funds means, on each Calculation Date, all amounts standing to the credit of the Transaction Account which represent principal, including:

Available Redemption Funds means the amount calculated as at the related Calculation Date equal to the aggregate of the Principal Receipts received by the Issuer in respect of the related Calculation Period minus the Principal Addition Amount (if any) to be added to the Revenue Ledger on the immediately succeeding Interest Payment Date. Use of Issuer’s funds to meet Revenue ShortfallsIf, in respect of a Calculation Period, the Transaction Manager determines that a Revenue Shortfall will exist on the immediately succeeding Interest Payment Date, the Transaction Manager will:

Available Redemption Funds means, on any Monthly Payment Date (i) falling in the Revolving Period, the positive difference, if any, between (A) part of the Available Principal Funds remaining, if any, after any payments in accordance with items (a), (b) and (c) of the Redemption Priority of Payments have been made and (B) an amount equal to 10 per cent. of the Principal Amount Outstanding of the Notes on the immediately preceding Monthly Calculation Date and (ii) falling after the Revolving Period, part of the Available Principal Funds remaining, if any, after any payments in accordance with item (a) of the Redemption Priority of Payments have been made.

Available Redemption Funds means, in respect of any Determination Date, the aggregate of:

Available Redemption Funds means, in relation to an Interest Payment Date, the amount calculated as at the related Calculation Date equal to the aggregate of the Principal Receipts received by the Issuer with respect to the related Calculation Period minus the Principal Addition Amount (if any) to be added to the Revenue Ledger on the immediately succeeding Interest Payment Date;

Available Redemption Funds on any Principal Determination Date (and determined no later than one Business Day from the relevant Interest Determination Date in respect of the GBP Notes and the Class A1 Notes) means:

Available Redemption Funds means in relation to a Repack Note Payment Date, the aggregate of all Repack Available Principal Receipts received during a Repack Note Interest Period relating to such Repack Note Payment Date;