Credit Enhancement Amount definition

Credit Enhancement Amount. With respect to any Payment Date, the sum of (a) the aggregate Over-collateralization Amount of Group 1, Group 2 and Group 3 for such Payment Date (after taking into account any Over-collateralization Increase Amount) and (b) the amount on deposit in all three Reserve Accounts after giving effect to any deposit to or withdrawal (not related to the Reserve Account Release Amount) of funds from all three Reserve Accounts on such Payment Date.

Credit Enhancement Amount. With respect to any Payment Date, the sum of (a) the aggregate Overcollateralization Amount of Group 1 and Group 2 for such Payment Date (after taking into account any Overcollateralization Increase Amount) [and (b) the amount on deposit in the Reserve Account after giving effect to any deposit to or withdrawal (not related to the Reserve Account Release Amount) of funds from the Reserve Account on such Payment Date].

Credit Enhancement Amount means, for a Lease Financing Loan, a limited guarantee from the Borrower guaranteeing all Program Loans in the Program Pool of which such Lease Financing Loan is a part in an amount equal to 1.01% of the then outstanding Loan Amount of such Lease Financing Loan. "CREDIT ENHANCEMENT NOTE" shall mean the promissory note, or other evidence of indebtedness, evidencing the indebtedness, including the then outstanding Loan Amount, accrued interest and the Aggregate Credit Enhancement Amount, of the Borrower under all the Lease Financing Loans relating to a Loan Pool amended, restated and consolidated into such Credit Enhancement Note, in substantially the form set forth in Exhibit C hereto.

Examples of Credit Enhancement Amount in a sentence

• In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.

• If Discover Bank as Servicer makes such a request, and if the Credit Enhancement Provider elects to make such loan, the amount of such loan shall be equal to the Supplemental Credit Enhancement Amount and shall be added to the unpaid principal amount of the Loan.

• Both the form and the provider of the Supplemental Credit Enhancement Amount, if any, shall be determined at the time it is to be paid; provided, that the Master Servicer shall have received confirmation from Standard & Poor's that the arrangements with respect to the Supplemental Credit Enhancement Amount, if any, will not result in the rating of the Investor Certificates of the Series established hereby being withdrawn or lowered.

• If Greenwood as Servicer makes such a request, and if the Credit Enhancement Provider elects to make such loan, the amount of such loan shall be equal to the Supplemental Credit Enhancement Amount and shall be added to the unpaid principal amount of the Loan.

• In the event that a Supplemental Credit Enhancement Event occurs, Greenwood as Servicer may cause the Supplemental Credit Enhancement Amount to be funded by Series Excess Servicing and other amounts paid to the Trustee as administrator of the Credit Enhancement to fund the Available Class B Credit Enhancement Amount, or may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

More Definitions of Credit Enhancement Amount

Credit Enhancement Amount means, as applicable, each of the credit enhancement amounts set forth on Schedule I attached to the Credit Enhancement Note. Among Program Borrowers the percentage of Credit Enhancement Amount to Aggregate Loan Amount may vary and the percentage amount for each Program Borrower is set by Lender in its sole and absolute discretion.

Credit Enhancement Amount has the meaning ascribed to such term in the Promissory Note.

Credit Enhancement Amount means the lesser of (i) the Required Credit Enhancement Amount and (ii) the face amount of any Credit Enhancement Letter of Credit or any cash or Cash Equivalents held by the Agent as collateral securing the Obligations in substitution therefore.

Credit Enhancement Amount means, as applicable, each of the credit enhancement amounts set forth on Schedule I attached to the Promissory Note. Among Program Borrowers the percentage of Credit Enhancement to Aggregate Loan Amount may vary and the percentage amount for each Program Borrower is set by Lender in its sole and absolute discretion.

Credit Enhancement Amount means the aggregate amount that is currently available (without material restriction) under all forms of Credit Enhancement obtained by a Lessee to make payments due under this Lease and all Other Leases to which it is a party.

Credit Enhancement Amount means, as at any Issue Date after the Series Supplement Date, the total amount of credit enhancement:

Credit Enhancement Amount. With respect to any Payment Date, the sum of (a) the Over-collateralization Amount for both Groups for such Payment Date and (b) the amount on deposit in the Reserve Account immediately prior to such Payment Date.