Credit Reduction Amount definition

Credit Reduction Amount means the amount by which the Credit Amount is to be reduced in order to compensate the Issuer after the occurrence of a Credit Event, so that the economic situation of the Issuer as a creditor under the Credit Reference Obligation as of the Final Valuation Date is not affected by the Credit Event.]
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Credit Reduction Amount means, (i) for each Credit Reduction Date during 1995, an amount equal to $220,000 and (ii) for each Credit Reduction Date thereafter, an amount equal to $293,333, in each case subject to adjustment as provided in Section 2-1.
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Credit Reduction Amount in Section 1.1 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:
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Examples of Credit Reduction Amount in a sentence

  • In such event the Maturity Date of the Certificate will be postponed by the same number of Business Days.(iii) the determination of the Credit Reduction Amount will be published;(iv) after the regular determination of the Redemption Amount by the Calculation Agent the Redemption Amount will be further reduced by the Credit Reduction Amount.

  • In such event the Maturity Date of the Certificate will be postponed by the same number of Business Days.(iii) the determination of the Credit Reduction Amount will be published pursuant to § 20;(iv) after the regular determination of the Redemption Amount by the Calculation Agent the Redemption Amount will be further reduced by the Credit Reduction Amount.

  • In such event the Maturity Date of the Security will be postponed by the same number of Business Days.(iii) the determination of the Credit Reduction Amount will be published pursuant to § 20;(iv) after the regular determination of the Redemption Amount by the Calculation Agent the Redemption Amount will be further reduced by the Credit Reduction Amount.


More Definitions of Credit Reduction Amount

Credit Reduction Amount means the amount by which the Credit Amount is to be reduced (potentially down to zero but never below zero) in order to compensate the Issuer after the
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Credit Reduction Amount appearing in Section 1.1 of the Loan Agreement is hereby amended by deleting such definition in its entirety and inserting the following in lieu thereof:
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Credit Reduction Amount means, for each Credit Reduction Date, commencing with the first Credit Reduction Date to occur after the Second Amendment Effective Date, an amount equal to $118,333.33, in each case subject to adjustment as provided in Section 2.1.
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Credit Reduction Amount means the amount by which the Credit Amount is to be reduced in order to compensate the Issuer after the occurrence of a Credit Event, so that the economic situation of the Issuer as a creditor under the Credit Reference Obligation as of the Final Valuation Date is not affected by the Credit Event."Credit Event" means any of the following events as determined by the Credit Event Agent: (i) a bankruptcy or insolvency of the Credit Reference Entity or a moratorium is declared in respect of any Credit Reference Entity's indebtedness in an amount of not less than EUR 10,000,000 equivalent;(ii) any amount of not less than EUR 10,000,000 equivalent due from the Credit Reference Entity under any agreement is or is capable of being accelerated or become due prior to its stated maturity as a result of occurrence of an event of default or a similar condition or event;(iii) the Credit Reference Entity does not pay when due any amount not less than EUR 1,000,000 equivalent under any agreement;(iv) a repudiation of a claim (or claims) in an amount of not less than EUR 10,000,000 equivalent; or(v) a restructuring of an obligation (or obligations) not less than an amount of EUR 10,000,000 equivalent.(vi) the Credit Reference Obligation is not, or not fully, paid when due, which means in particular that the amount to discharge the Credit Reference Obligation is not or not in full received on the due date by the Issuer on the specified account, regardless of the reasons, in particular irrespective of whether such failure of receipt is caused by a non-ability of the Credit Reference Entity to make payment, or any factual obstacle or other barrier in connection with the transfer of such funds, including but not limited to disruptions of payment systems or transfer restrictions imposed by the country in which the Credit Reference Entity is headquartered.Upon the occurrence of a Credit Event:(i) the Credit Event Agent will determine the Credit Reduction Amount;(ii) if not all information necessary for the determination of the Credit Reduction Amount is available to the Credit Event Agent on the Final Valuation Date, the determination of the Credit Reduction Amount will be postponed until all information necessary is available. In such event the Maturity Date of the Security will be postponed by the same number of Business Days.(iii) the determination of the Credit Reduction Amount will be published;(iv) after the regular determination of the Redemption Amount by the Calculatio...
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Related to Credit Reduction Amount

  • FX Reduction Amount is defined in Section 2.1.3.

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Prepayment Percentage As of the Closing Date, approximately 0%, and thereafter, with respect to any Distribution Date, the excess of 100% over the Senior Prepayment Percentage.

  • Participation Amount as defined in Section 3.4(b).

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Auction Amount has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Designation Amount has the meaning given to this term in Section 4.15.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Applicable Prepayment Percentage means, at any time, 75%; provided that, if at any time the Consolidated First Lien Net Leverage Ratio as of the last day of the fiscal year for which the Applicable Prepayment Percentage is calculated (as set forth in an officer’s certificate delivered pursuant to Section 9.01(e) for such fiscal year) is (i) less than or equal to 2.75:1.00 but greater than 2.25:1.00, the Applicable Prepayment Percentage shall instead be 50%, (ii) less than or equal to 2.25:1.00 but greater than 1.75:1.00, the Applicable Prepayment Percentage shall instead be 25% and (iii) less than or equal to 1.75:1.00, the Applicable Prepayment Percentage shall instead be 0%.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however that the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2012-1 Liquidity Amount on such date and (b) the Series 2012-1 Required Liquidity Amount on such date.