Determination Date Calculations; Application of Available Funds Sample Clauses

Determination Date Calculations; Application of Available Funds. (a) On each Determination Date, the Servicer shall calculate the following amounts: (i) the Available Collections for the following Distribution Date; (ii) the Total Servicing Fee, any Unreimbursed Servicer Advances and any Unrelated Amounts for the preceding Collection Period; (iii) any payments pursuant to Section 2.8(a)(ii) of the Indenture, including any amounts due to the Asset Representations Reviewer pursuant to the Asset Representations Review Agreement (to the extent not previously paid by the Servicer) pursuant to Section 2.8(a)(ii)(b) of the Indenture; (iv) the Total Note Interest for each Class of Class A Notes for the following Distribution Date; (v) the Priority Principal Distributable Amount for the following Distribution Date; (vi) the Total Note Interest for the Class B Notes for the following Distribution Date; (vii) the Secondary Principal Distributable Amount for the following Distribution Date; (viii) the Total Note Interest for the Class C Notes for the following Distribution Date; (ix) the Tertiary Principal Distributable Amount for the following Distribution Date; (x) the Total Note Interest for the Class D Notes for the following Distribution Date; (xi) the Quaternary Principal Distributable Amount for the following Distribution Date; (xii) the sum of the amounts described in clauses (ii) through (xi) above (the “Required Payment Amount”); (xiii) the Regular Principal Distributable Amount for the following Distribution Date; (xiv) any payments pursuant to Section 2.8(xiii) of the Indenture; and (xv) whether a Delinquency Trigger Event has occurred. (b) On each Determination Date, the Servicer shall calculate the following amounts: (i) the lesser of (A) the amount, if any, by which the Required Payment Amount for the following Distribution Date exceeds the Available Collections for such Distribution Date and (B) the Reserve Account Amount for such Distribution Date (before giving effect to any deposits to or withdrawals from the Reserve Account on such Distribution Date) (such lesser amount, the “Reserve Account Draw Amount”); provided, that, the Reserve Account Draw Amount will be reduced by any Unreimbursed Servicer Advance and any amounts owing to CarMax or any Affiliate of CarMax to the extent such Person is the Servicer; provided, however, that (i) if on the last day of the preceding Collection Period the Pool Balance is zero, the Reserve Account Draw Amount for such Distribution Date shall equal the Reserve Account Amount for ...
Sample 1Sample 2Sample 3See All (150)
AutoNDA by SimpleDocs
Determination Date Calculations; Application of Available Funds. (a) On each Determination Date, the Servicer shall calculate the following amounts with respect to the related Distribution Date and Collection Period: (i) the Available Collections; (ii) the Total Servicing Fee (including the amount of any Nonrecoverable Advances); (iii) if not previously paid, the Total Trustee Fees; (iv) the Interest Distributable Amount for each Class of Class A Notes; (v) the Priority Principal Distributable Amount; (vi) the Regular Principal Distributable Amount; and (vii) the sum of the amounts described in clauses (ii) through (v) above (the “Required Payment Amount”); provided, however, that so long as the Notes have not been accelerated in accordance with the Indenture following an Event of Default, the aggregate amount to be included in the Required Payment Amount pursuant to clause (iii) above shall not exceed $100,000 in any given calendar year. On each Determination Date, the Servicer shall calculate the Reserve Fund Amount, the Reserve Fund Required Amount, the Reserve Fund Draw Amount and the amount, if any, by which the Reserve Fund Required Amount exceeds the Reserve Fund Amount (after giving effect to any deposits to the Reserve Fund and the withdrawal of the Reserve Fund Draw Amount for such Distribution Date). (b) On each Determination Date, the Servicer shall instruct the Indenture Trustee to apply (or cause to be applied) on the related Distribution Date, the Available Funds for such Distribution Date to make the related payments and deposits set forth in Section 2.08 of the Indenture.
Sample 1Sample 2Sample 3See All (15)
Determination Date Calculations; Application of Available Funds. (a) On each Determination Date, the Servicer shall calculate the following amounts: (i) the Available Collections for the following Distribution Date; (ii) the Total Servicing Fee for the preceding Collection Period; (iii) the Total Note Interest for each class of Notes for the following Distribution Date; (iv) the Total Certificate Interest for the following Distribution Date; (v) the Monthly Note Principal for the following Distribution Date; (vi) the Monthly Certificate Principal for the following Distribution Date; (vii) the Insurance Premium for the following Distribution Date plus any overdue Insurance Premiums for previous Distribution Dates; (viii) the aggregate amount of any unreimbursed payments under the Policy, including any amount deposited by the Insurer pursuant to Section 5.2(d) or (e) of the Indenture, to the extent payable to the Insurer under the Insurance Agreement plus accrued interest on any unreimbursed payments under the Policy, including any amount deposited by the Insurer pursuant to Section 5.2(d) or (e) of the Indenture, at the rate provided in the Insurance Agreement plus any other amounts due the Insurer under the Insurance Agreement plus any unreimbursed Insurer Defense Costs; (ix) the sum of the amounts described in clauses (ii) through (vi) above (the "Required Payment Amount"); and (x) the sum of the amounts described in clauses (vii) and
Sample 1

Related to Determination Date Calculations; Application of Available Funds

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • Determination of One-Month LIBOR Pursuant to the terms of the Global Agency Agreement, the Global Agent shall calculate the Class Coupons for the applicable Classes of Notes (including MAC Notes on which the Exchange Administrator has directed the Global Agent to make payments) for each Accrual Period (after the first Accrual Period) on the applicable LIBOR Adjustment Date. U.S. dollar deposits with a maturity of one month set by ICE Benchmark Administration Limited (“ICE”) as of 11:00 a.m. (London time) on the LIBOR Adjustment Date (the “ICE Method”). ICE’s Interest Settlement Rates are currently displayed on Bloomberg L.P.’s page “BBAM.” That page, or any other page that may replace page BBAM on that service or any other service that ICE nominates as the information vendor to display the ICE’s Interest Settlement Rates for deposits in U.S. dollars, is a “Designated Page.” ICE’s Interest Settlement Rates currently are rounded to five decimal places. If ICE’s Interest Settlement Rate does not appear on the Designated Page as of 11:00 a.m. (London time) on a LIBOR Adjustment Date, or if the Designated Page is not then available, One-Month LIBOR for that date will be the most recently published Interest Settlement Rate. If ICE no longer sets an Interest Settlement Rate, Xxxxxxx Mac will designate an alternative index that has performed, or that Xxxxxxx Mac (or its agent) expects to perform, in a manner substantially similar to ICE’s Interest Settlement Rate.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Interest Rates Payments and Calculations (a) Interest Rate. Except as set forth in Section 2.3(b), or as ------------- specified to the contrary in any Loan Document, any Advances under this Exim Agreement shall bear interest, on the average daily balance, at a rate equal to the Prime Rate per annum.

  • SUBMISSION OF THE MONTHLY MI REPORT 4.1 The completed MI Report shall be completed electronically and returned to the Authority by uploading the electronic MI Report computer file to MISO in accordance with the instructions provided in MISO. 4.2 The Authority reserves the right (acting reasonably) to specify that the MI Report be submitted by the Supplier using an alternative communication to that specified in paragraph 4.1 above such as email. The Supplier agrees to comply with any such instructions provided they do not materially increase the burden on the Supplier.

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Certification of amounts A notice which is signed by 2 officers of a Creditor Party, which states that a specified amount, or aggregate amount, is due to that Creditor Party under this Clause 21 and which indicates (without necessarily specifying a detailed breakdown) the matters in respect of which the amount, or aggregate amount, is due shall be prima facie evidence that the amount, or aggregate amount, is due.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!