Enhancement Surplus definition

Enhancement Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the sum of the amount held in and available to be withdrawn from the Cash Collateral Account, the Collateral Indebtedness Amount and the Class D Investor Amount over (b) the Required Enhancement Amount.
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Enhancement Surplus means, with respect to any Distribution ------------------- Date, the amount by which the Collateral Invested Amount may be reduced on such Distribution Date so that the sum of (i) the Adjusted Available Cash Collateral Amount (after giving effect to any deposits pursuant to subsection 4.09(f) for such Distribution Date), (ii) the Collateral Invested Amount (after giving effect to any reductions thereof on such Distribution Date pursuant to Section 4.08 of the Agreement) as reduced by such Enhancement Surplus and (iii) the Optional Deposit for such Distribution Date, if any, equals the Required Enhancement Amount (computed as if the Collateral Invested Amount was reduced by such Enhancement Surplus and subject to the proviso contained in the definition of Required Enhancement Amount). Algebraically, if the Required Enhancement Amount for the Distribution Date is computed pursuant to clause (i) of the definition thereof, the Enhancement Surplus shall be represented as: .135 (AIA + (CIA-X)) = ACCA + (CIA-X) where,
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Enhancement Surplus means, with respect to any Distribution Date, the excess, if any, of (a) the Specified Enhancement Amount (after giving effect to any reductions made with respect to such date other than as the result of the existence of an Enhancement Surplus) over (b) the Required Enhancement Amount.
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Examples of Enhancement Surplus in a sentence

  • Any such deposit shall be deemed to be available in the Cash Collateral Account for purposes of calculating any Enhancement Surplus for such related Distribution Date, but shall not be included in the Available Cash Collateral Amount for such Distribution Date, but shall be included in the Available Cash Collateral Amount for the subsequent Distribution Date.

  • Any Cash Enhancement Surplus shall be applied in accordance with the Class C Supplemental Agreement.


More Definitions of Enhancement Surplus

Enhancement Surplus shall have the meaning set forth in subsection 4.7(c)(i).
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Enhancement Surplus means, as to any Distribution Date, the excess, if any, of the Collateral Interest over the Required Collateral Interest Amount at the close of business on the last day of the Related Monthly Period.
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Enhancement Surplus means, with respect to any Distribution Date, ------------------- the amount by which the Collateral Invested Amount may be reduced on such Distribution Date so that the sum of (i) the Adjusted Available Cash Collateral Amount (after giving effect to any deposits pursuant to subsection 4.09(f) for such Distribution Date), (ii) the Collateral Invested Amount (after giving effect to any reductions thereof on such Distribution Date pursuant to Section 4.08 of the Agreement) as reduced by such Enhancement Surplus and (iii) the Optional Deposit for such Distribution Date, if any, equals the Required Enhancement Amount (computed as if the Collateral Invested Amount was reduced by such Enhancement Surplus and subject to the proviso contained in the definition of Required Enhancement Amount). Algebraically, if the Required Enhancement Amount for the Distribution Date is computed pursuant to clause (i) of the definition thereof, the Enhancement Surplus shall be represented as: .135 (AIA + (CIA-X)) = ACCA + (CIA-X) where, X = the Enhancement Surplus; AIA = the Class A Adjusted Invested Amount at the end of such Distribution Date; ACCA = the Adjusted Available Cash Collateral Amount (after giving effect to any deposit pursuant to subsection 4.09(f) or Optional Deposit on such Distribution Date); and CIA = the Collateral Invested Amount on such Distribution Date (after giving effect to any reductions thereof pursuant to Section 4.08). Algebraically, if the Required Enhancement Amount for the Distribution Date is computed pursuant to clause (ii) of the definition thereof, the Enhancement Surplus shall be represented as: $6,857,143 + 2($6,857,143 - ACCA) = ACCA + (CIA-X) where, X = the Enhancement Surplus; ACCA = the Adjusted Available Cash Collateral Amount (after giving effect to any deposit pursuant to Section 4.09(f) or Optional Deposit on such Distribution Date); and CIA = the Collateral Invested Amount on such Distribution Date (after giving effect to any reductions thereof pursuant to Section 4.08).
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Related to Enhancement Surplus

  • Reserve Account Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Series Enhancement means the rights and benefits provided to the Trust or the Investor Certificateholders of any Series or Class pursuant to any letter of credit, surety bond, insurance policy, cash collateral guaranty, subordinated interest in the Trust Assets, cash collateral account, collateral interest, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate swap agreement, interest rate cap agreement or other similar arrangement. The subordination of any Series or Class to another Series or Class shall be deemed to be a Series Enhancement.