Excess Spread Trigger definition

Excess Spread Trigger. As such term is defined in the Insurance and Indemnity Agreement.
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Excess Spread Trigger. For any Distribution Date and with respect to the Class A-2 Certificates, an Excess Spread Trigger will have occurred if the Class A-2 Excess Cash for such Distribution Date is less than one-twelfth of 3.50% of the Class A-2 Certificate Principal Balance for such Distribution Date.
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Excess Spread Trigger. With respect to any Distribution Date on or after the thirteenth Distribution Date and the Adjustable Rate Group Certificates, the related Monthly Excess Cashflow Amount is less than one-twelfth of [ ]% of the sum of the Class A-1A Certificate Principal Balance and the Class A-2A Certificate Principal Balance as of the close of business on such Distribution Date (without giving effect to any Overcollateralization Release Amount on such Distribution Date).
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Examples of Excess Spread Trigger in a sentence

  • Net Excess Spread Trigger Event Occurrence----No Invested Amount----549,450,550.00 Current One Month Excess Spread (%)----10.53% Current Three Month Average Excess Spread (%)----12.29% Required Spread Account Deposit (%)----0.00% Spread Account Maximum ($)----0 Spread Account Balance ($)----0____________________________________________________________________________________________ HSBC FINANCE CORPORATION ("HSBC FINANCE") METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------632,970,000.00 Current One Month Excess Spread (%)--------10.25% Current Three Month Average Excess Spread (%)--------11.15% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0HSBC FINANCE CORPORATION ("HSBC FINANCE")METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence----N/A Invested Amount----227,272,728.00 Current One Month Excess Spread (%)----6.53% Current Three Month Average Excess Spread (%)----5.26% Required Spread Account Deposit (%)----6.75% Spread Account Maximum ($)----15,340,909 Spread Account Balance ($)15,340,909HSBC FINANCE CORPORATION ("HSBC FINANCE") METRI S RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------589,970,000.00 Current One Month Excess Spread (%)--------10.35% Current Three Month Average Excess Spread (%)--------10.16% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0* The excess collateral was reduced by $16.1 million.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------589,970,000.00 Current One Month Excess Spread (%)--------10.86% Current Three Month Average Excess Spread (%)--------12.64% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0* The excess collateral was reduced by $16.1 million.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------632,970,000.00 Current One Month Excess Spread (%)--------14.02% Current Three Month Average Excess Spread (%)--------7.78% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0__________________________________________________________________________________________ HSBC FINANCE CORPORATION ("HSBC FINANCE")METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence----No Invested Amount----662,983,425.00 Current One Month Excess Spread (%)----10.65% Current Three Month Average Excess Spread (%)----12.42% Required Spread Account Deposit (%)----0.00% Spread Account Maximum ($)----0 Spread Account Balance ($)----0_________________________________________________________________________________________HSBC FINANCE CORPORATION ("HSBC FINANCE") METRIS RECEIVABLES,INC.

  • Net Excess Spread Trigger Event Occurrence----Yes Invested Amount----549,450,550.00 Current One Month Excess Spread (%)----6.29% Current Three Month Average Excess Spread (%)----5.02% Required Spread Account Deposit (%)----1.00% Spread Account Maximum ($)----5,494,506 Spread Account Balance ($)----5,494,506HSBC FINANCE CORPORATION ("HSBC FINANCE") METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------606,070,000.00 Current One Month Excess Spread (%)--------14.25% Current Three Month Average Excess Spread (%)--------8.00% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0__________________________________________________________________________________________ HSBC FINANCE CORPORATION ("HSBC FINANCE")METRIS RECEIVABLES, INC.

  • Net Excess Spread Trigger Event Occurrence--------No Invested Amount--------754,716,000.00 Current One Month Excess Spread (%)--------2.82% Current Three Month Average Excess Spread (%)--------5.57% Note Reserve (%)--------0.00% Note Reserve Maximum ($)--------0 Note Reserve Balance ($)--------0 Class D Note Reserve Requirement ($)--------10,562,640 Class D Note Reserve Balance ($)--------10,562,640* Effective January 26, 2005, Class D Securities were issued out of the Excess Collateral of 2004-2.


More Definitions of Excess Spread Trigger

Excess Spread Trigger. For any Distribution Date following the 6th Distribution Date, an Excess Spread Trigger will have occurred if the weighted average Excess Spread Rate is less than 300 basis points.
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Excess Spread Trigger means that, as of any Settlement Date beginning with August 17, 2020, the Three-Month Average Excess Spread shall be less than 0.00%.
Sample 1
Excess Spread Trigger. For any Payment Date, an Excess Spread Trigger will have occurred if the Excess Cash for such Payment Date is less than 1/12 of 3.50% of the Bond Balance for such Payment Date.
Sample 1
Excess Spread Trigger means, with respect to any Determination Date, the Excess Spread with respect to such Determination Date is less than 1.50% per annum.
Sample 1
Excess Spread Trigger means that, as of any Settlement Date beginning with August 17, 2020, the Three-Month Average Excess Spread shall be less than 0.00%. “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. “Excluded Affiliate” means any Affiliates of the Administrative Agent that are engaged as principals primarily in private equity, mezzanine financing or venture capital. “Excluded Taxes” means any of the following Taxes imposed on or with respect to an Affected Party or required to be withheld or deducted from a payment to an Affected Party, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Affected Party being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.10) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.08, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Affected Party’s failure to comply with Sections 2.08(f) and 2.08(g) and (d) any withholding Taxes imposed under FATCA. “Exclusivity Period” has the meaning set forth in Section 7.03(a).
Sample 1
Excess Spread Trigger. For any Distribution Date following the 6th Distribution Date, an Excess Spread Trigger will have occurred if the weighted average Excess Spread Rate for the Mortgage Loans in Groups II and III is less than 300 basis points.
Sample 1

Related to Excess Spread Trigger

  • Excess Spread means, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.

  • Excess Spread Percentage for any Distribution Date means a fraction, the numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related Due Period.

  • Net Excess Spread With respect to any Distribution Date, (A) the fraction, expressed as a percentage, the numerator of which is equal to the product of (i) the amount, if any, by which (a) the aggregate of the Interest Remittance Amounts for each Mortgage Pool for such Distribution Date (as reduced by the Credit Risk Manager’s Fee) exceeds (b) the Current Interest payable with respect to the Certificates for such date and (ii) twelve, and the denominator of which is the Aggregate Pool Balance for such Distribution Date, multiplied by (B) a fraction, the numerator of which is thirty and the denominator of which is the greater of thirty and the actual number of days in the immediately preceding calendar month.

  • Remaining Excess Spread With respect to any Distribution Date, the Excess Spread less any Extra Principal Distribution Amount, in each case for such Distribution Date.

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Quarterly Excess Spread Percentage means, with respect to the August 2008 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Class Prepayment Distribution Trigger For a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balance of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Early Amortization Event means the occurrence of any of the following:

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Principal Remittance Amount With respect to any Distribution Date, the sum of the Group I Principal Remittance Amount and the Group II Principal Remittance Amount.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Amortization Period means the period beginning on the Termination Date and ending on the Maturity Date.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2009-VFN Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification.