Class N Reserve Account Draw Amount definition

Class N Reserve Account Draw Amount. (A) on any distribution date prior to the final scheduled distribution date for the Class N Notes, the amount, if any, by which the amount due pursuant to Section 2.7(b) (xiv) for such Distribution Date exceeds the Available Funds for such Distribution Date; (B) on the final scheduled distribution date for the Class N Notes, the difference between Available Funds remaining after payment of clauses (i) through (xvi) of Section 2.7(b) and the outstanding principal amount of the Class N Notes, plus accrued and unpaid interest thereon.
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Class N Reserve Account Draw Amount means (A) on any distribution date prior to the Final Scheduled Distribution Date for the Class N Notes, the amount, if any, by which the amount due pursuant to Section 2.7(b)(xiv) of the Indenture for such Distribution Date exceeds the Available Funds for such Distribution Date; (B) on the Final Scheduled Distribution Date for the Class N Notes, the difference between Available Funds remaining after payment of clauses (i) through (xvi) of Section 2.7(b) of the Indenture and the outstanding principal amount of the Class N Notes, plus accrued and unpaid interest thereon. If no Class N Notes are Outstanding, any amounts on deposit in the Class N Reserve Account shall be released to the Depositor pursuant Section 8.4(c) of the Indenture.
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Class N Reserve Account Draw Amount. (A) on any distribution date prior to the Final Scheduled Distribution Date for the Class N Notes, the amount, if any, by which the amount due pursuant to Section 2.7(b)(xiv) for such Distribution Date exceeds the Available Funds for such Distribution Date; (B) on the Final Scheduled Distribution Date for the Class N Notes, the difference between Available Funds remaining after payment of clauses (i) through (xvi) of Section 2.7(b) and the outstanding principal amount of the Class N Notes, plus accrued and unpaid interest thereon. If no Class N Notes are Outstanding, any amounts on deposit in the Class N Reserve Account shall be released to the Depositor pursuant Section 8.4(c) of the Indenture.
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Related to Class N Reserve Account Draw Amount

  • 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.

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

  • 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.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.