Borrower Available Funds definition

Borrower Available Funds means, in respect of any Loan Interest Payment Date, the aggregate of:
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Borrower Available Funds shall have the meaning set forth in the Loan Agreement.
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Borrower Available Funds means (i) all Collections with respect to the Solar Loans (including net recoveries on Defaulted Solar Loans not repurchased and Insurance Proceeds received) deposited in or transferred to the Collection Account with respect to the related Collection Period, (ii) all amounts received from the Depositor upon its repurchase of Solar Loans during or with respect to the related Collection Period or from the Performance Guarantor pursuant to the Performance Guaranty to the extent deposited in the Collection Account, (iii) all amounts received as investment earnings on balances in the Collection Account, the Reserve Account, the Equipment Replacement Reserve Account and the Section 25D Interest Account during the such Collection Period, (iv) amounts transferred to the Collection Account from therein from the Reserve Account, the Equipment Replacement Reserve Account, the Section 25D Interest Account or the Consumer Obligor Security Deposit Account, (v) if a Voluntary Prepayment Date is the same date as a Payment Date, amounts received in connection with a Voluntary Prepayment, in each case on deposit in the Collection Account, (vi) any Permitted Equity Contribution Amount and (vii) amounts retained in the Collection Account from previous Payment Dates pursuant to clause (xix) of the Priority of Payments; provided, however, that any amounts due during a Collection Period but deposited into the Collection Account within ten Business Days after the end of such Collection Period may, at the Servicer’s option upon notice to the Agent, be treated as if such amounts were on deposit in the Collection Account as of the end of such prior Collection Period and if so treated, such amounts shall not be considered Borrower Available Funds for any other Payment Date. For the avoidance of doubt, Consumer Obligor Security Deposits on deposit in the Consumer Obligor Security Deposit Account (and not transferred to the Collection Account) and amounts received relating to Grid Services are not Borrower Available Funds. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.
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Examples of Borrower Available Funds in a sentence

  • All other payments with respect to Borrower Secured Obligations shall be made to the extent Borrower Available Funds are sufficient for such distribution in accordance with the Priority of Payments.

  • The Lender and the Guarantor shall, to the extent Borrower Available Funds are sufficient for such distribution in accordance with the Priority of Payments, be entitled to receive payments of principal on each Payment Date.

  • With respect to the Guaranteed Loan, the Borrower shall, on each Loan Payment Date, subject to Borrower Available Funds and the Borrower Priority of Payments in the Loan Agreement, pay to the Guarantor an amount equal to the product of: (i) one-twelfth; (ii) [***]%; and (iii) the outstanding Loan Component 1 Balance (after giving effect to payments made on the prior Loan Payment Date) (the “Monthly Risk-Based Charge”).

Related to Borrower Available Funds

  • Available Funds With respect to any Distribution Date and the Mortgage Loans to the extent received by the Master Servicer (x) the sum of (i) all scheduled installments of interest (net of the related Expense Fees) and principal due on the Due Date on such Mortgage Loans in the related Due Period and received by the Servicer on or prior to the related Determination Date, together with any P&I Advances in respect thereof; (ii) all Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and Subsequent Recoveries received by the Servicer during the related Prepayment Period (in each case, net of unreimbursed expenses incurred in connection with a liquidation or foreclosure and unreimbursed Advances, if any); (iii) all partial or full prepayments on the Mortgage Loans received by the Servicer during the related Prepayment Period together with all Compensating Interest paid by the Servicer in connection therewith (excluding any Prepayment Charges); (iv) all Substitution Adjustment Amounts with respect to the substitutions of Mortgage Loans that occur on or prior to the related Determination Date; (v) all amounts received with respect to such Distribution Date as the Repurchase Price in respect of a Mortgage Loan repurchased by the Mortgage Loan Seller or the Sponsor on or prior to the related Determination Date; and (vi) the proceeds with respect to the termination of the Trust Fund pursuant to clause (a) of Section 11.01; reduced by (y) amounts in reimbursement for Advances previously made with respect to the Mortgage Loans and other amounts as to which the Servicer, the Depositor, the Master Servicer, the Securities Administrator or the Trustee are entitled to be paid or reimbursed pursuant to this Agreement.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.