Bankruptcy Coverage. $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage pursuant to the second paragraph of this definition and (b) Bankruptcy Losses allocated to the Certificates. The Bankruptcy Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.
Bankruptcy Coverage. As of the Cut-Off Date, $100,000, and thereafter, the initial Bankruptcy Coverage amount, less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage pursuant to this definition and (b) Bankruptcy Losses allocated to the Certificates. The Bankruptcy Coverage may be reduced upon written confirmation from each Rating Agency that such reduction will not adversely affect the then current ratings assigned to the Certificates by each Rating Agency.
Bankruptcy Coverage. For any Distribution Date, an amount equal to the greater of (i) (x) $268,542 or such lesser amount as may be determined by the Depositor from time to time upon written confirmation from each Rating Agency that the use of such lesser amount will not adversely affect the then current ratings assigned to any Class of Certificates by such Rating Agency, minus (y) the aggregate amount of Bankruptcy Losses allocated to the Certificates on or prior to such date and (ii) zero.
Examples of Bankruptcy Coverage in a sentence
Special Hazard Losses in excess of the Special Hazard Coverage, Fraud Losses in excess of the Fraud Coverage and Bankruptcy Losses in excess of the Bankruptcy Coverage shall be allocated among the related Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
Special Hazard Losses in excess of the Special Hazard Coverage, Fraud Losses in excess of the Fraud Coverage and Bankruptcy Losses in excess of the Bankruptcy Coverage shall be allocated among the Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
On the Closing Date, the Master Servicer shall deposit the Initial Bankruptcy Coverage Amount in the Bankruptcy Reserve Fund.
Special Hazard Losses on the Loans in excess of the Special Hazard Coverage, Fraud Losses on the Loans in excess of the Fraud Coverage and Bankruptcy Losses on the Loans in excess of the Bankruptcy Coverage shall be allocated among the Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
As of the Closing Date, the Bankruptcy Bond shall be in the amount of the Bankruptcy Coverage Initial Amount and any time thereafter be in the amount of the Current Bankruptcy Amount.
More Definitions of Bankruptcy Coverage
Bankruptcy Coverage. As of the Cut-Off Date, $150,000. Bankruptcy Coverage will be reduced, from time to time, by the amount of Bankruptcy Losses allocated to the Group II Certificates.
Bankruptcy Coverage. With respect to Loan Group I and Loan Group III, $151,450 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to this definition and (b) Bankruptcy Losses allocated to the Group I-L, Group III-L and Group C-B- L Regular Interests. With respect to Loan Group II and Loan Group IV, $173,513 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to this definition and (b) Bankruptcy Losses allocated to the Group II-L, Group IV-L, Group D-B-L and Class A-P-L Regular Interests and the Class R-1 and Class R-2 Certificates. The Bankruptcy Coverage for Loan Group I and Loan Group III and the Bankruptcy Coverage for Loan Group II and Loan Group IV may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.
Bankruptcy Coverage. With respect to Loan Group I and Loan Group II, $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group I, Group II and Group C-B Certificates. With respect to Loan Group III, $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group III Certificates. The Bankruptcy Coverage for Loan Group I and Loan Group II and the Bankruptcy Coverage for Loan Group III may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the related Certificates by the Rating Agencies.
Bankruptcy Coverage. With respect to Loan Group I, $136,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group I Certificates. With respect to Loan Group II, $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group II Certificates. The Bankruptcy Coverage for Loan Group I and the Bankruptcy Coverage for Loan Group II may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the related Certificates by the Rating Agencies.
Bankruptcy Coverage. With respect to each Loan Group, as of the Cut-Off Date, $120,000 for Loan Group I and $120,000 for Loan Group II, and thereafter, the initial Bankruptcy Coverage amount for such Loan Group, less (a) any scheduled or permissible reduction in the applicable amount of Bankruptcy Coverage pursuant to this definition and (b) Bankruptcy Losses in either Loan Group allocated to the related Certificates. The Bankruptcy Coverage for either Loan Group may be reduced upon written confirmation from each Rating Agency that such reduction will not adversely affect the then current ratings assigned to the related Certificates by each Rating Agency.
Bankruptcy Coverage. The Group I Bankruptcy Coverage or the Group ------------------- II Bankruptcy Coverage, as applicable.
Bankruptcy Coverage. As of the Cut-Off Date, $[_______]. Bankruptcy Coverage will be reduced, from time to time, by the amount of Bankruptcy Losses allocated to the Certificates.