Cash Trapping Amount means, for any Weekly Allocation Date during a Cash Trapping Period, an amount equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the Collection Account on such Weekly Allocation Date after payment of priorities (i) through (xii) of the Priority of Payments (but with respect to the first Weekly Allocation Date on or after a Cash Trapping Release Date, net of the Cash Trapping Release Amount released on such Cash Trapping Release Date); provided that, for any Weekly Allocation Date following the occurrence and during the continuation of a Rapid Amortization Event, or an Event of Default, the Cash Trapping Amount will be zero.
Cash Trapping Amount means the amount deposited on behalf of the Issuer or the Canadian Co-Issuer in the applicable Cash Trap Reserve Account for any Weekly Allocation Date while a Cash Trapping Period is in effect equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the applicable Collection Account on such Weekly Allocation Date after payment of priorities (i) through (xii) of the Priority of Payments (but with respect to the first Weekly Allocation Date on or after a Cash Trapping Release Date, net of the Cash Trapping Release Amount released on such Cash Trapping Release Date); provided that, for any Weekly Allocation Date following the occurrence and during the continuance of a Rapid Amortization Event or an Event of Default, the Cash Trapping Amount will be zero.
Cash Trapping Amount means, for any Weekly Allocation Date during a Cash Trapping Period, an amount equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the Collection Account on such Weekly Allocation Date after payment of priorities (i) through (xv) of the Priority of Payments (but with respect to the first Weekly Allocation Date on or after a Cash Trapping Release Date, net of the Cash Trapping Release Amount released on such Cash Trapping Release Date).
Examples of Cash Trapping Amount in a sentence
For the avoidance of doubt, the Series 2010-1 Cash Trapping Amount deposited to the Cash Trap Reserve Account on any Payment Date shall not be duplicative of any other Cash Trapping Amount deposited to the Cash Trap Reserve Account on such Payment Date pursuant to any other Series of Notes.
More Definitions of Cash Trapping Amount
Cash Trapping Amount means, for any Interim Allocation Date during a Cash Trapping Period, an amount equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the Collection Account on such Interim Allocation Date after payment of priorities (i) through (xii) of the Priority of Payments (but with respect to the first Interim Allocation Date on or after a Cash Trapping Release Date, net of the Cash Trapping Release Amount released on such Cash Trapping Release Date); provided that, for any Interim Allocation Date following the occurrence and during the continuation of a Rapid Amortization Event, or an Event of Default, the Cash Trapping Amount will be zero.
Cash Trapping Amount means, for any Interim Allocation Date during a Cash Trapping Period, an amount equal to the product of (a) the applicable Cash Trapping Percentage and (b) the funds available in the Collection Account on such Interim Allocation Date after payment of clauses (i) through (xiii) of the Priority of Payments.
Cash Trapping Amount means the amount deposited on behalf of the Issuer or the Canadian Co-Issuer in the applicable Cash Trap Reserve Account for any Weekly Allocation Date while a Cash Trapping Period is in effect equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the applicable Collection Account on such Weekly Allocation Date after payment of priorities (i) through (xii) of the Priority of Payments (but with respect to the first Weekly
Cash Trapping Amount means, with respect to a Payment Date, the amount of funds to be deposited in the Cash Trap Reserve Account with respect to the Series 2008-1 Notes in an amount equal to the Series 2008-1 Cash Trapping Amount and such other amount designated as a “Cash Trapping Amount” pursuant to the terms of any Series Supplement.
Cash Trapping Amount means, for any Weekly Allocation Date while a Cash Trapping Period is in effect, an amount equal to the product of (i) the applicable Cash Trapping Percentage and (ii) the amount of funds available in the Collection Account on such Weekly Allocation Date after payment of priorities (i) through (xii) of the Priority of Payments (but with respect to each Weekly Allocation Date that is a Cash Trapping Release Date, net of the Cash Trapping Release Amount released on such date); provided that, for any Weekly Allocation Date following the occurrence and during the continuance of a Rapid Amortization Event or an Event of Default, the Cash Trapping Amount shall be zero.