Cap Reserve Amount definition

Cap Reserve Amount means, as of any date of determination, the amount equal the product of (a) 115%, times (b) the sum of the Estimated Cap Costs for each of the estimated ISC Exposure Amount as of the next occurring Reporting Date or Purchase Date and the estimated Lease Exposure Amount as of the next occurring Reporting Date or Purchase Date (in each case, determined in accordance with Section 8.9(d)). For such purpose, “Estimated Cap Cost” means, as of any date of determination and with respect to the ISC Exposure Amount or the Lease Exposure Amount (as applicable, “such Exposure Amount”), an amount equal to the estimated cost to purchase an Eligible Interest Rate Hedge that is an interest rate cap in respect of such Exposure Amount with a cap rate selected by the Servicer in accordance with Section 8.9(d) and a scheduled notional amount (after accounting for all other Hedge Transactions then in effect and allocated to such Exposure Amount pursuant to Section 8.9(c) and any proposed reallocations pursuant to Section 8.9(d)) sufficient to cause the aggregate notional amount of all Hedge Transactions allocated to such Exposure Amount to be equal to such Exposure Amount at all times during the projected amortization of such Exposure Amount to zero in accordance with this Agreement, projected assuming that the Purchase Termination Date were to occur on the next occurring Settlement Date or Purchase Date, as applicable, and that payments on the Receivables will be paid subject to reasonable scheduled payment, default, prepayment, and dilution assumptions based on historical and projected performance of the Receivables. Each Estimated Cap Cost shall be determined by one or more Cap Calculation Agents in its reasonable discretion and if more than one Cap Calculation Agent determines an Estimated Cap Cost for any date, the Estimated Cap Cost for all purposes of this Agreement shall be the highest amount determined by any of such Cap Calculation Agents. The Cap Reserve Amount “relating” to the ISC Receivable Pool or the Lease Receivable Pool, respectively, shall be an amount equal to 115% times the Estimated Cap Cost with respect to such Receivable Pool.
Sample 1Sample 2
Cap Reserve Amount means the amount equal to the sum of (a) the product of (i) the estimated cost to purchase an Eligible Interest Rate Cap in respect of the ISC Exposure Amount, as determined by each Cap Calculation Agent in its reasonable discretion, within two (2) Business Days prior to (x) in respect of the period prior to the first Reporting Date after the Restatement Effective Date, the Restatement Effective Date, and (y) thereafter, each Reporting Date, and (ii) 115% and (b) the product of (i) the estimated cost to purchase an Eligible Interest Rate Cap in respect of the Lease Exposure Amount, as determined by each Cap Calculation Agent in its reasonable discretion, within two (2) Business Days prior to (x) in respect of the period prior to the first Reporting Date after the Second Restatement Effective Date, the Second Restatement Effective Date, and (y) thereafter, each Reporting Date, and (ii) 115%; provided, that, if more than one Cap Calculation Agent determines the Cap Reserve Amount, the Cap Reserve Amount for all purposes of this Agreement shall be the highest amount determined by a Cap Calculation Agent. The Cap Reserve Amount “relating” to the ISC Receivable Pool or the Lease Receivable Pool, respectively, shall be the amount determined pursuant to clause (a) or clause (b) of the preceding sentence, respectively.
Sample 1
Cap Reserve Amount. With respect to any Payment Date following the occurrence of the Cap Reserve Trigger, an amount equal to (i) the cost of a replacement Interest Rate Cap covering the period from the Stated Maturity to and including the Rated Final Payment Date based on a written estimate obtained from the Cap Provider divided by (ii) the number of Payment Dates from and including the Payment Date on which the Cap Reserve Trigger occurs to and including the Payment Date in August 2006.
Sample 1

Examples of Cap Reserve Amount in a sentence

  • Each Cap Calculation Agent shall, on or before the second (2nd) Business Day prior to each Reporting Date and Purchase Date, notify the Servicer of the Cap Reserve Amount.

  • Total Tax Cap Reserve Amount Used to Reduce Current Year Levy$ -$ - E.

  • Total Tax Cap Reserve Amount Used to Reduce Current Year Levy, if Applicable E.

  • As promptly as practicable following any Reporting Date (but no later than two (2) Business Days after such Reporting Date), notice if the Cap Pool Holdback Amount is less than the then current Cap Reserve Amount as of such Reporting Date, which notice shall specify the amount of such deficiency.

  • As promptly as practicable following any Reporting Date (but no later than two (2) business days after such Reporting Date), notice if the ISC Cap Pool Holdback Amount is less than the then current ISC Cap Reserve Amount as of such Reporting Date, which notice shall specify the amount of such deficiency.

  • Potential artificial Pozzolana also include burnt clays and reject bricks, blast- furnace slag from steel production and the ash of burnt rice husks [9] ,[10].

  • Total Tax Cap Reserve Amount Used to Reduce Current Year Levy00E.

  • Total Tax Cap Reserve Amount Used to Reduce Current Year Levy$0$0 E.

  • Each Cap Calculation Agent shall, on or before the second (2nd) Business Day prior to each Reporting Date (or in the case of the Lease Administrative Agent acting in that capacity, each Reporting Date falling after the initial Purchase relating to the Lease Receivable Pool), notify the Servicer of the Cap Reserve Amount.

  • Total Tax Cap Reserve Amount Used to Reduce Current Year Levy, if ApplicableE.

Related to Cap Reserve Amount

  • Reserve Amount means, for any Payment Date, the amount of cash or other immediately available funds in the Reserve Account on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date.

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Professional Fee Reserve Amount means the total amount of Professional Fee Claims estimated in accordance with Article II.A.2(c) of the Plan.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(g) in the name of the Trustee for the benefit of the Holders of the Offered Certificates and designated "The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2006-OC10, Mortgage Pass-Through Certificates, Series 2006-OC10." Funds in the Carryover Reserve Fund shall be held in trust for the Holders of the Offered Certificates for the uses and purposes set forth in this Agreement.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage: