Current Funding Share definition

Current Funding Share has the meaning given in Clause 8.4(b) above.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Current Funding Share means the amount of Trust Property beneficially owned by Funding from time to time, as determined in accordance with Clause 8 (Adjustment of Funding Share Percentage and Seller Share Percentage) of the Mortgages Trust Deed;

Current Funding Share means the amount of Trust Property beneficially owned by Funding from time to time, as determined in accordance with Clause 8 (Adjustment of Funding Share Percentage, Funding 2 Share Percentage and Seller Share Percentage) of the Mortgages Trust Deed;

Examples of Current Funding Share in a sentence

The Cash Manager shall ensure that the Current Funding Share and the Current Funding Share Percentage of the Trust Property and the Current Seller Share and the Current Seller Share Percentage of the Trust Property are recorded in the Funding Share/Seller Share Ledger on the Initial Closing Date and thereafter on each Distribution Date.
Except for the Initial Closing Date on which the Funding Share Percentage and the Seller Share Percentage shall be calculated to two decimal places, and unless otherwise agreed by the Beneficiaries, the Current Funding Share Percentage and the Current Seller Share Percentage shall be calculated to five decimal places.
References herein to the "FUNDING SHARE" shall mean, prior to the first Distribution Date, the Initial Funding Share and thereafter shall mean the Current Funding Share (as defined below).
Funding 2 Share/Seller Share Ledger The Cash Manager shall ensure that the Current Funding Share and the Current Funding Share Percentage of the Trust Property, the Current Funding 2 Share and the Current Funding 2 Share Percentage of the Trust Property and the Current Seller Share and the Current Seller Share Percentage of the Trust Property are recorded in the Funding Share/Funding 2 Share/Seller Share Ledger on the Initial Closing Date and thereafter on each Distribution Date.
On each Distribution Date, the CURRENT SELLER SHARE PERCENTAGE will be an amount equal to: 100% - Current Funding Share Percentage.
The CURRENT SELLER SHARE will be an amount equal to: The total amount of Trust Property - Current Funding Share.
The Cash Manager shall ensure that the Current Funding Share and the Current Funding Share Percentage of the Trust Property, the Current Seller Share and the Current Seller Share Percentage of the Trust Property are recorded in the Funding Share/Seller Share Ledger on the Initial Closing Date and thereafter on each Distribution Date.
The Cash Manager shall ensure that the Current Funding Share and the Current Funding Share Percentage of the Trust Property, the Current Funding 2 Share and the Current Funding 2 Share Percentage of the Trust Property and the Current Seller Share and the Current Seller Share Percentage of the Trust Property are recorded in the Funding Share/Funding 2 Share/Seller Share Ledger on the Initial Closing Date and thereafter on each Distribution Date.
The Current Funding Share will be an amount equal to: where “A”, “B”, “C”, “D”, “E” and “F” have the meanings specified in Clause 8.2 above.
EVENT After the occurrence of an Asset Trigger Event, all Principal Receipts will be distributed pro rata and pari passu between Funding and the Seller according to the Current Funding Share Percentage of the Trust Property and the Current Seller Share Percentage of the Trust Property respectively (and, for the avoidance of doubt, such payments may reduce the Current Seller Share to an amount less than the Minimum Seller Share) until the Funding share of the Trust Property is zero.

More Definitions of Current Funding Share

Current Funding Share means the amount of Trust Property beneficially owned by Funding from time to time, as determined in accordance with CLAUSE 6 of the Mortgages Trust Deed;

Current Funding Share and "Current Funding 2 Share" are as calculated on such Relevant Distribution Date in accordance with Clauses 8.4(I)(A) and 8.4(II)(A) respectively.