Commingling Amount definition

Commingling Amount means an amount calculated quarterly by the Issuer (or the Master Servicer, as the case may be) equal to the expected aggregate amount of principal monthly collections and recoveries calculated in respect of the next following 1 month and considering a 5% constant prepayment ratio per annum, or any other higher amount designated as such by the Issuer (or the Master Servicer, as the case may be) and notified to the Rating Agency.

Commingling Amount means (a) if no Issuer Downgrading Event has occurred or is outstanding an amount equal to 0 (zero) or (b) if an Issuer Downgrading Event has occurred and is outstanding, an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Collection Account on the following 3 (three) calendar months and considering a 10 per cent cumulative prepayment ratio.

Commingling Amount means an amount equal to 0 (zero) or any higher amount as may be determined by the Issuer (or the Servicer, as the case may be) and notified to the Representative of the Covered Bondholders, the Servicer, the Calculation Agent and the Asset Monitor not later than 5 Business Days before each Calculation Date.

Examples of Commingling Amount in a sentence

• The amount drawn down will be credited to the Credit Reserve Ledger and will be an amount equal to the aggregate of the next scheduled payment under the Lease Agreements for each Lessee who has not redirected payments (the Commingling Amount).

• Upon the occurrence of any Collection Loss Trigger Event, the Borrower may, instead of having the Issuer Calculation Agent to deduct the full amount of the Potential Commingling Amount in the Contractual Cover Ratio (as defined in section entitled "Description of the Issuer – Business overview") ), elect to transfer to the credit of the Issuer's collection loss reserve account on or before the relevant monthly calculation date, an additional amount in cash.

• The commingling risk is further addressed by taking it into account in the calculation of the Contractual Cover Ratio an additional potential commingling amount (the "Potential Commingling Amount").

• If at any time after (i) the occurrence of a Funding Entity Termination Event or (ii) the termination of the Commingling Reserve Agreement by the Issuer due to a good cause ( wichtiger Grund) caused by the Funding Entity, a Commingling Event occurs, the Issuer shall be entitled to withdraw the Commingling Amount from the Commingling Reserve Account up to the Maximum Amount and credit the Commingling Amount to the Operating Account.

More Definitions of Commingling Amount

Commingling Amount means an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Italian Collection Account on any of the following 12 (twelve) calendar months and considering a 15 per cent. cumulative prepayment ratio." 5. On page 215, the definition of "Deed of Charge" shall be replaced as follows :

Commingling Amount means (a) if no Issuer Downgrading Event, calculated as long as UBI Banca is the Master Servicer, taking into account the higher of (i) the long term unsecured, unsubordinated and unguaranteed rating by the Issuer and (ii) the DBRS Covered Bonds Attachment Point of UBI Banca, has occurred or is outstanding an amount equal to 0 (zero) or (b) if an Issuer Downgrading Event has occurred and is outstanding, an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Italian Collection Account on any of the following 12 (twelve) calendar months and considering a cumulative prepayment ratio equal to the trailing average of the previous 12 months with a minimum of 5.00 per cent.”On page 196 of the Prospectus, after the definition of “Cover Pool Management Agreement” the following new definition is added: