Excess Interest Collections definition

Excess Interest Collections means, for a Payment Date, an amount equal to the excess, if any, of (a) the Available Investor Interest Collections for that Payment Date, over (b) the amount required to be paid, without duplication, under Sections 4.2(a)(i) through (xv) of the Indenture Supplement on that Payment Date.

Excess Interest Collections has, with respect to any Series, the meaning specified in the related Indenture Supplement.

Excess Interest Collections means, with respect to any Business Day, as the context requires, either (x) the amount described in subsection 4.9(a)(xiv) allocated to the Series 1998-2 Certificates but available to cover shortfalls in amounts paid from Interest Collections for other Series, if any, or (y) the aggregate amount of Interest Collections allocable to other Series in excess of the amounts necessary to make required payments with respect to such Series, if any, and available to cover shortfalls with respect to the Series 1998-2 Certificates.

Examples of Excess Interest Collections in a sentence

• The Series Defaulted Amount for any Distribution Date will be funded from Available Series Interest Collections, Excess Interest Collections available to your series from other series in Excess Interest Sharing Group One, servicer advances, if any, and available amounts on deposit in the Reserve Fund.

• Excess Interest Collections for your series will be made available to any other series in Excess Interest Sharing Group One whose share of Interest Collections and other amounts treated like Interest Collections are not sufficient to make required distributions or deposits for that series.

• Each series that is part of Excess Interest Sharing Group One and has a shortfall will receive a share of the total amount of Excess Interest Collections available for that month based on the amount of shortfall for that series, divided by the total shortfall for all series in Excess Interest Sharing Group One for that same month.

• Excess Interest Collections and Excess Funds available for distribution to the IncomeNotes will be reduced by losses occurring on the Collateral Debt Securities, and returns on the Income Notes will be adversely affected thereby.

• If Available Series Interest Collections for your series are insufficient to make all required distributions and deposits for your series, your series will have access to Excess Interest Collections from other series in Excess Interest Sharing Group One.

More Definitions of Excess Interest Collections

Excess Interest Collections means, at any time of determination, the excess of (1) amounts then on deposit in the Collateral Accounts representing Interest Collections over (2) the projected amount required to be paid pursuant to Section 2(o)(i)(A), (B) and (C), on the next Payment Date, any prepayment date or the Maturity Date, as applicable, in each case, as determined by the Borrower in good faith and in a commercially reasonable manner.

Excess Interest Collections with respect to Series 20[ ]-[ ] for any Distribution Date available for other Series in Excess Sharing Group [ ] shall equal the excess, if any, of (a) the Available Series Interest Collections for such Distribution Date over (b) the full amount required to be distributed, without duplication, pursuant to clauses (i) through (xii) of Section 4.04(a) on such Distribution Date.

Excess Interest Collections means, at any time of determination, the excess of (1) amounts then on deposit in the Controlled Accounts representing Interest Proceeds over (2) the projected amount required to be paid pursuant to Section 2.04(a) and (b) on the next Payment Date or the Facility Maturity Date, as applicable, in each case, as determined by the Borrower in good faith and in a commercially reasonable manner.

Excess Interest Collections has, with respect to Series 2010-5, the meaning specified in Section 4.07.

Excess Interest Collections has, with respect to Series 2006-3, the meaning specified in Section 4.07.

Excess Interest Collections with respect to Series 2006-3 for any Distribution Date will equal the excess, if any, of (a) the Available Investor Interest Collections for such Distribution Date, over (b) the full amount required to be distributed, without duplication, pursuant to clauses (i) through (x) of Section 4.04(a) on such Distribution Date.

Excess Interest Collections means, at any time of determination, the excess of (1) amounts then on deposit in the Controlled Accounts representing Interest Proceeds over (2) the difference of (x) the projected amount required to be paid pursuant to Section 2.04(a) and (b) on the next Payment Date or the Facility Maturity Date, as applicable, minus (y) amounts reasonably expected to be received as Interest Proceeds on the Loan Assets (excluding any Interest Proceeds reasonably expected to be received on Defaulted Loans) prior to the next Determination Date, in each case, as determined by the Borrower in good faith and in a commercially reasonable manner.