Class Controlled Accumulation Amount definition

Class Controlled Accumulation Amount if applicable, with respect to such Class on any Distribution Date with respect to the Controlled Accumulation Period, shall have the meaning set forth in the Series Term Sheet.

Class Controlled Accumulation Amount if applicable, with respect to such Class on any Distribution Date with respect to the Controlled Accumulation Period, shall mean the sum of (i) the amount specified in the Series Term Sheet with respect to such Class of the Series established hereby (reduced for each such Distribution Date pro-rata by the aggregate amount paid to such Class pursuant to Section 9(a)(12)) and (ii) the Class Controlled Accumulation Amount Shortfall for such Class; provided, however, that if the commencement of the Controlled Accumulation Period is to be modified pursuant to Section 19, then the Class Controlled Accumulation Amount shall mean an amount equal to the product of (i) Available Expected Principal for the related Due Period and (ii) a fraction the numerator of which is the Series Initial Investor Interest less the Class Initial Investor Interest for any Seller Retained Class and the denominator of which is the sum of (a) the Series Initial Investor Interest less the Class Initial Investor Interest for any Seller Retained Class and (b) the series initial investor interests less the class initial investor interests for any seller retained classes of all other Variable Accumulation Series in the Group to which the Series established hereby belongs that are not scheduled to be in their revolving periods as of such Due Period; and provided, further, that, for purposes of this definition, the commencement date of the accumulation period of each such Variable Accumulation Series shall be deemed to have been postponed to the latest permissible date determined as of the date of calculation and determined as if the provisions of Section 19 applied to each such Variable Accumulation Series with such changes as may be specified with respect to such Variable Accumulation Series (applying such provisions first to the Variable Accumulation Series in the Group to which the Series established hereby belongs with the latest Class Expected Final Payment Date and next to each additional such Variable Accumulation Series in reverse chronological order based on the latest Class Expected Final Payment Date of each such Series). The sum of the aggregate Class Controlled Accumulation Amounts for all Classes of such Series for all Due Periods during the Controlled Accumulation Period as modified pursuant to Section 19 shall not be less than the Series Initial Investor Interest less the Class Initial Investor Interest for any Seller Retained Class.

Examples of Class Controlled Accumulation Amount in a sentence

• The Class Controlled Accumulation Amount or Class Controlled Amortization Amount, as applicable, for each Class of such Series shall be increased proportionally to reflect the additional amount of Class A, Class B and Class C Certificates for such Series represented by the Additional Certificates.

• An amount equal to all remaining amounts on deposit in the Collections Account, after all other withdrawals from such Account for any payment of any Class Controlled Amortization Amount or any Class Controlled Accumulation Amount for any Class of any Series in its Controlled Accumulation Period or Controlled Amortization Period, as applicable, shall be withdrawn from the Collections Account and paid to the Seller.

• On each Determination Date, the Servicer will determine the "Controlled Accumulation Period Length" that will equal the number of Due Periods such that the Class Controlled Accumulation Amount for the Due Period related to the Class Expected Final Payment Date, when aggregated with the Class Controlled Accumulation Amounts for each preceding Due Period, will equal or exceed the Series Initial Investor Interest.

• Any notice by the Servicer electing to modify the commencement of the Controlled Accumulation Period pursuant to this Section 19 shall specify the following as determined on such Determination Date: (i) the Controlled Accumulation Period Length; (ii) the commencement date of the Controlled Accumulation Period; and (iii) the Class Controlled Accumulation Amount with respect to each class of such Series with respect to each Due Period.

• Any notice by the Servicer electing to modify the commencement of the Controlled Accumulation Period pursuant to this Section 18 shall specify the following as determined on such Determination Date: (i) the Controlled Accumulation Period Length; (ii) the commencement date of the Controlled Accumulation Period; and (iii) the Class Controlled Accumulation Amount with respect to each class of such Series with respect to each Due Period.

• All remaining amounts on deposit in the Collections Account relating to the prior Due Period, after all other withdrawals from such Account for any payment of any Class Controlled Amortization Amount or any Class Controlled Accumulation Amount for any Class of any Series in its Controlled Accumulation Period or Controlled Amortization Period, as applicable.