Available Reserve Amount definition

Available Reserve Amount means, with respect to a Payment Date, the amount of funds equal to the lesser of (i) the amount on deposit in the Reserve Account (determined (a) exclusive of any Investment Earnings thereon and (b) before giving effect to any deposit to be made or withdrawals from the Reserve Account with respect to such Payment Date), and (ii) the Specified Reserve Account Balance.

Available Reserve Amount is defined in Section 4.6.

Available Reserve Amount the amount on deposit in the Reserve Account.

Examples of Available Reserve Amount in a sentence

• The aggregate amount to be withdrawn from the Reserve Account on any Deposit Date shall not exceed the Available Reserve Amount with respect to the related Distribution Date.

• On the Business Day preceding each Payment Date (the "Deposit Date"), the Trustee, or the Servicer on behalf of the Trustee, shall make a withdrawal from the Reserve Account in the amount required by the Agreement, but in no event in an amount greater than the Available Reserve Amount with respect to such Payment Date.

• NO CREDIT ENHANCEMENT -------------------------------- Required Enhancement Available Reserve Amount for the next Distribution Date (Initially 27,568,581.

• 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.

• On the Business Day preceding each Distribution Date (the "Deposit Date"), the Trustee, or the Servicer on behalf of the Trustee, shall make a withdrawal from the Reserve Account in the amount required by the Agreement, but in no event in an amount greater than the Available Reserve Amount with respect to such Distribution Date.

More Definitions of Available Reserve Amount

Available Reserve Amount means the amount on deposit in the Reserve Account.

Available Reserve Amount. As of any date of determination, the amount on deposit in the Reserve Account on such date.

Available Reserve Amount means, for each Distribution Date, an amount equal to the lesser of (i) the amount on deposit in the Reserve Account (exclusive of investment earnings) and (ii) the Specified Reserve Account Balance.

Available Reserve Amount means, as of any date, the amount on deposit in the Reserve Subaccount less the product of (a) the Prepayment Amount and (b) the difference, expressed as a percentage, between 100% and the Expected Amortization Percentage for the immediately following Regulatory Year.

Available Reserve Amount means, for any Business Day, the lesser of (i) the amount on deposit in the Reserve Account on such Business Day (after giving effect to any deposit to, or withdrawal from, the Reserve Account to be made with respect to such Business Day), and (ii) the Required Reserve Amount as of such Business Day.

Available Reserve Amount means, on any date, the amounts on deposit in the Interest Reserve Account.

Available Reserve Amount. As defined in Section 8.5(a) hereof.