Cash Reserve Available Amount definition

Cash Reserve Available Amount means, in respect of any Payment Date, the amount to be drawn from the Cash Reserve Ledger required to be applied in or towards making good any shortfall reflected in the Principal Deficiency Ledger until the debit balance, if any, of the Principal Deficiency Ledger is reduced to zero, to the extent that the Interest AvaiableFunds have not been sufficient for such purpose on such Payment Date in accordance with the Interest Priority of Payments.
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Cash Reserve Available Amount means, in respect of any Payment Date, the amount to be drawn from the Cash Reserve Account equal to the absolute value of the difference, if negative, between the Interest Available Funds (net of any Cash Reserve Available Amount) available to pay items from First to Sixth of the Interest Priority of Payments and the amounts due under items from First to Sixth of the Interest Priority of Payments on such Payment Date.
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Cash Reserve Available Amount means: (a) in respect of any Payment Date falling prior to the service of a Trigger Notice or a Termination Event Notice, the amount to be drawn from the Cash Reserve Account equal to the difference, if negative, between the Issuer Available Funds (net of any Cash Reserve Available Amount) and the amounts necessary to pay items from (First) to (Fourth) of the Pre-Trigger Notice Priority of Payments on such Payment Date and (b) on the first Payment Date following service of a Trigger Notice and/or service of a Termination Event Notice, or on the Payment Date on which the Class A Notes are redeemed in full or cancelled, all amounts standing to the credit of the Cash Reserve Account.
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Examples of Cash Reserve Available Amount in a sentence

  • Prior to the Final Maturity Date, on any Payment Date during the Amortisation Period the amounts standing to the credit of the Cash Reserve Account (less any Cash Reserve Available Amount) will form part of the Principal Available Funds and the Cash Reserve Account will be closed, provided that such amounts, together with the other amounts under items (i), (ii), (iii), (iv), (v), (viii),(ix) and (x) of the definition of Principal Available Funds, are sufficient to redeem in full the Senior Notes.

  • The Servicer is authorised to consent to any renegotiation requests made by Debtors until the Cash Reserve Available Amount is higher or equal to the Minimum Cash Reserve Amount.

Related to Cash Reserve Available Amount

  • Available Amount of any Letter of Credit means, at any time, the maximum amount available to be drawn under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).

  • 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 [*];

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.