Collateral Surplus definition

Collateral Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the amount on deposit in the Cash Collateral Account plus the Collateral Indebtedness Amount over (b) the Required Collateral Amount.
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Collateral Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the amount on deposit in the Cash Collateral Account plus the Collateral Invested Amount over (b) the greater of (x) the Required Collateral Amount or (y) at any time the Class B Invested Amount is greater than zero and as long as an Early Amortization Period is not in effect, at the option of the Seller (as evidenced by written instructions to the Servicer and the Trustee), such higher amount as the Seller shall specify, from time to time, in such instructions.
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Collateral Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the amount on deposit in the Cash Collateral Account PLUS the Collateral Invested Amount over (b) the greater of (x) the Required Collateral Amount or (y) at any time the Class B Invested Amount is greater than zero and as long As a Rapid Amortization (or Early Accumulation) Period is not in effect, at the option of the Seller (as evidenced by written instructions to the Servicer and the Trustee), such higher amount as the Seller shall specify, from time to time, in such instructions.]
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Examples of Collateral Surplus in a sentence

  • In the event of the existence of a Net ---------------------- Collateral Surplus and so long as no Default or Event of Default shall be in existence, Borrower may from time to time request and obtain from the Bank the release of the Bank's security interest in such of the Mortgage Collateral as constitutes a Net Collateral Surplus.

  • The Borrower shall ensure that, on each Business Day (after giving effect to all acquisitions and dispositions of Collateral permitted under the Loan Documents, and the making, prepayment or repayment of Loans made hereunder on each applicable Business Day), no Required Collateral Surplus Deficiency shall exist.

  • It shall not make any Restricted Payment, if, at the time of declaration and payment thereof, a Default, Event of Default or Required Collateral Surplus Deficiency shall exist or would result from such declaration and payment.

  • A Required Collateral Surplus Deficiency shall not have been remedied by the Cure Time.

  • Any Cash Collateral Surplus shall be applied in accordance with the Class C Supplemental Agreement.

  • In the event of the existence of a Net Collateral Surplus and so long as no Default or Event of Default shall be in existence, Borrower may from time to time request and obtain from the Bank the release of the Bank's security interest in such of the Mortgage Collateral as constitutes a Net Collateral Surplus.


More Definitions of Collateral Surplus

Collateral Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the amount on deposit in the Cash Collateral Account plus the Collateral Invested Amount over (b) the greater of (x) the Required Collateral Amount or (y) at any time the Class B Invested
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Collateral Surplus means, with respect to any Distribution ------------------ Date, the excess, if any, of (a) the amount on deposit in the Cash Collateral Account plus the Collateral Invested Amount over (b) the greater of (x) the ---- Required Collateral Amount or (y) at any time the Class B Invested Amount is greater than zero and as long As a Rapid Amortization (or Early Accumulation) Period is not in effect, at the option of the Seller (as evidenced by written instructions to the Servicer and the Trustee), such higher amount as the Seller shall specify, from time to time, in such instructions.]
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Related to Collateral Surplus

  • Capital Surplus has the meaning assigned to such term in Section 6.3(a).

  • Reserve Account Surplus means, as of any date of determination, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Working Capital Surplus means the amount by which the Working Capital is greater than the Target Working Capital Amount.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Initial Collateral Amount means $1,000,000,000, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Common Surplus means the excess of all receipts of the Association collected on behalf of the Association, including, but not limited to, Assessments, rents, profits and revenues on account of the Common Elements, over the amount of Common Expenses.

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.

  • 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 Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

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

  • Final Collection Date means the date on or following the Termination Date on which the Outstanding Loan Amount has been reduced to zero and all other Borrower Obligations have been paid in full.

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

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Aggregate Collateral Balance means, as at any Measurement Date, the amount equal to the aggregate of the following amounts, as at such Measurement Date:

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • L/C Cash Collateral Account means an account of the Borrower to be maintained with the Administrative Agent, in the name of the Administrative Agent and under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.