Available Revenue Funds means on a Calculation Date an amount equal to the aggregate of (without double counting): (i) the amount of Interest Receipts received during the previous calendar month; (ii) other net income of the CBC including all amounts of interest received on the CBC Transaction Accounts (excluding the Swap Cash Collateral Account (if any)) and the Substitution Assets in the preceding calendar month; (iii) all amounts in respect of interest received or to be received by the CBC under the Swap Agreements on the relevant CBC Payment Date (or in the CBC Payment Period immediately preceding the relevant CBC Payment Date but excluding the preceding CBC Payment Date) except for any payments in respect of interest received under the Swap Agreements (other than the Portfolio Swap Agreements) that have been applied towards payment of a Series of Covered Bonds (and, for the avoidance of doubt, excluding Swap Collateral Amounts); (iv) any amounts on the Reserve Account released in accordance with the Trust Deed; (v) any amounts received as Excess Proceeds in the CBC Payment Period immediately preceding the relevant CBC Payment Date to the extent such proceeds do not relate to principal; (vi) any amounts to the extent not relating to principal, reserved on the immediately preceding CBC Payment Date to the extent not applied towards payment of the relevant Series of Covered Bonds or the relevant Swap Agreement or a higher ranking item than payment of the relevant Series of Covered Bonds or the relevant Swap Agreement in the CBC Priority of Payments prior to the relevant CBC Payment Date; (vii) any Excess Swap Replacement Amounts as shall be standing to the credit of the Swap Replacement Ledger on the relevant CBC Payment Date; and (viii)any other amounts standing to the credit of the CBC Account, to the extent not relating to principal, not excluded by virtue of (i) to (vii) above; less (ix) on the first CBC Payment Date of each year, an amount equal to 10 per cent. of the annual fixed operational expenses of the CBC, with a minimum of euro 2,500. Back-up Administration Agreement means the back-up administration agreement entered into on the Programme Date between the CBC, the Back-up Administrator, the Administrator and the Security Trustee. Back-up Administration Rights means any and all present and future rights (vorderingen) of the CBC vis-à-vis the Administrator under or in connection with the Administration Agreement. Back-up Administrator means Intertrust Administrative ...
Available Revenue Funds means on a Calculation Date an amount equal to the aggregate of (without double counting):
Available Revenue Funds means, as at a Determination Date, an amount equal to the aggregate of the Revenue Receipts standing to the credit of the Issuer Collection Account at 5:00 p.m. (London Time) on the Business Day preceding such Determination Date. The Issuer’s principal receipts (the “Principal Receipts”) will comprise:
Examples of Available Revenue Funds in a sentence
If on any Notes Payment Date, the Issuer has insufficient Available Revenue Funds to pay all amounts then due and payable, it shall be under no obligation to pay any (default) interest or damages or other form of compensation to Noteholders in respect of any amounts of interest that remains unpaid as a result of there being insufficient Available Revenue Funds on any Notes Payment Date.
Provided that no Enforcement Notice has been served in accordance with Condition 10 (Events of Default), the Issuer will be obliged to apply the Available Revenue Funds, if and to the extent that all payments ranking above item (p) in the Revenue Priority of Payments have been made in full, to redeem (or partially redeem) on a pro rata basis the Class E Notes on each Notes Payment Date until fully redeemed.
Payments of principal on the Class C Notes shall be made from the Available Revenue Funds or from funds available for distribution in accordance with the Post-Enforcement Priority of Payments, in each case, in accordance with the Revenue Priority of Payments and the Post-Enforcement Priority of Payments.
Payments of principal on the Class C Notes shall be made from the Available Revenue Funds or from funds available for distribution in accordance with the Post- Enforcement Priority of Payments, in each case, in accordance with the Revenue Priority of Payments and the Post-Enforcement Priority of Payments.
Prior to the delivery of an Enforcement Notice, the Class X Notes will become subject to redemption upon redemption in full of all Notes, other than the Class X Notes, by applying the Available Revenue Funds to the extent available for such purposes at their respective Principal Amount Outstanding, on a pro rata and pari passu basis within such Class, subject to Condition 9(b) (Principal).
More Definitions of Available Revenue Funds
Available Revenue Funds means, on any Calculation Date, all amounts standing to the credit of the Interest Collection Account (including any interest on amounts standing to the credit of the Issuer Accounts and any interest paid in respect of the MFX Access Fee) and, with respect to any payments under the Interest Priority of Payments up to, and including, item 8 that amounts in the Interest Collection Account would otherwise be insufficient to meet, the Reserve Fund.
Available Revenue Funds means an amount calculated by the Cash/Bond Administrator on a Determination Date, being the aggregate of the following amounts:
Available Revenue Funds will be an amount equal to the aggregate of:
Available Revenue Funds means as at any Calculation Date an amount equal to the aggregate of:
Available Revenue Funds means, in relation to a Calculation Period, the aggregate of:
Available Revenue Funds means, on any Notes Calculation Date, the sum of the following amounts, calculated as at such Notes Calculation Date as being received or held by the Issuer during the Notes Calculation Period immediately preceding such Notes Calculation Date (items (i) up to and including (xii)) less (i) an amount equal to the higher of (A) EUR 3,500 and (B) 10 per cent. of the amount due and payable per annum by the Issuer to the Issuer Director, pursuant to item (a) of the Revenue Priority of Payments, representing taxable income for corporate income tax purposes in the Netherlands (the "Profit"), from which amount Dutch corporate income tax is paid and (ii) any NHG Return Amount (to the extent such amount relates to (a) item (ii) of the definition thereof and (b) interest) paid to Stichting WEW during the previous Notes Calculation Period:
Available Revenue Funds means on any Distribution Date, amounts standing to the credit of the Series Revenue Ledger, which amounts shall not include Mortgage Early Repayment Charges, as at close of business on the Business Day immediately preceding the Determination Date (which falls immediately prior to such Distribution Date) plus those amounts transferred or to be transferred from the Series Liquidity Ledger, the Series Reserve Ledger and the Series Discount Reserve Ledger (and, if applicable, any other ledger except the Series Credit Support Provider Cash Ledger) including interest earned on the Series GIC Accounts and on any Authorised Investments, any amounts received pursuant to the Bullet Cap Agreement (other than any swap termination payments received from the Bullet Cap Provider to be applied towards the appointment of a replacement Bullet Cap Provider and other than any collateral provided by the Bullet Cap Provider in accordance with the terms of the Bullet Cap Agreement), any BBR Swap Agreement (other than any swap termination payments received from the BBR Swap Provider to be applied towards the appointment of a replacement BBR Swap Provider and other than any collateral provided by the BBR Swap Provider in accordance with the terms of the BBR Swap Agreement), anyFixed/Floating Swap Agreement (other than any swap termination payments received from the Fixed/Floating Swap Provider to be applied towards the appointment of a replacement Fixed/Floating Swap Provider and other than any collateral provided by the Fixed/Floating Swap Provider in accordance with the terms of the Fixed/Floating Swap Agreement), any amounts received pursuant to the LIBOR Basis Swap Agreement (other than any swap termination payments received from the LIBOR Basis Swap Provider to be applied towards the appointment of a replacement LIBOR Basis Swap Provider and other than any collateral provided by the LIBOR Basis Swap Provider in accordance with the terms of the LIBOR Basis Swap Agreement), or any Currency Swap Agreement with respect to amounts representing revenue only (other than any swap termination payments received from the Currency Swap Provider to be applied towards the appointment of a replacement Series Currency Swap Provider and other than any collateral provided by the Currency Swap Provider in accordance with the terms of the Currency Swap Agreement) on such Distribution Date, in each case in accordance with the Series Cash Management Agreement. On each Distribution Date prior to t...