Examples of Discounted Contract Balance in a sentence
In connection with the substitution of a Contract, if the Discounted Contract Balance of such Substitute Contract is less than the Discounted Contract Balance of the Predecessor Contract, the Contributor shall, on the date of substitution, deposit an amount equal to such difference into the Collection Account.
The Notes may be redeemed by the Issuer, in whole but not in part, at the Redemption Price on any Payment Date on which the Pool A Aggregate Discounted Contract Balance is less than 10% of the Pool A Aggregate Discounted Contract Balance as of the Closing Date and the Pool B Aggregate Discounted Contract Balance is less than 20% of the Pool B Aggregate Discounted Contract Balance as of the Closing Date.
At the option of the Servicer, the obligations and responsibilities of the Servicer with respect to all of the Contracts shall terminate on any Payment Date on which the Aggregate Discounted Contract Balance is less than 10% of the Initial Aggregate Discounted Contract Balance so long as the Servicer deposits or causes to be deposited into the Collection Account the Repurchase Amount for each Contract.
On any date of determination, the sum of the Discounted Contract Balance of each Eligible Contract (excluding all Defaulted Contracts, Casualty Loss Contracts, Early Termination Contracts and Contracts subject to a Warranty Event) included in the Asset Pool as of the date of such determination.
In any of the foregoing instances, the Seller shall accept the retransfer of each such Ineligible Contract, and the ADCB shall be reduced by the Discounted Contract Balance (calculated using the applicable Blended Discount Rate as of the most recent Determination Date) of each such Ineligible Contract and, if applicable, increased by the Discounted Contract Balance of each such Substitute Contract.