General Reserve Account Required Balance means the lesser of (I) (a) if no Cash Accumulation Event has occurred and is continuing, the greater of (x) 3.00% of the Cut-Off Date Aggregate Loan Balance or (y) 7.50% of the Aggregate Loan Balance at such time and (b) if a Cash Accumulation Event has occurred and is continuing, the greater of (x) 5.00% of the Cut-Off Date Aggregate Loan Balance or (y) the product of (i) the Aggregate Loan Balance as of the last day of the immediately preceding Due Period and (ii) 20.00% and (II) the Outstanding Note Balance on such Payment Date after the distributions of principal in respect of the Notes on such Payment Date.
General Reserve Account Required Balance means (a) if no Cash Accumulation Event has occurred, the greater of (i) 3.00% of the sum of the Aggregate Loan Balance and the aggregate Loan Balance of Defaulted Timeshare Loans subject to the lien of the Indenture (as of the end of the related Due Period) and (ii) 1.50% of the Cut-Off Date Aggregate Loan Balance or (b) if a Cash Accumulation Event has occurred, 3.00% of the Cut-Off Date Aggregate Loan Balance.
General Reserve Account Required Balance means, as of any Payment Date, an amount equal to 0.75% of the Aggregate Outstanding Note Balance on such date after taking into account all amounts applied to the Aggregate Outstanding Note Balance on such date.
Examples of General Reserve Account Required Balance in a sentence
Prior to each Payment Date, the Servicer shall determine the General Reserve Account Required Balance applicable to such Payment Date.
More Definitions of General Reserve Account Required Balance
General Reserve Account Required Balance means the greater of (i) $2,600,000 and (ii) the sum of (A) as of any date of determination, the amount of interest payable on the Loan on the next six Monthly Payment Dates and (B) any attributable and owing tax payment on the income of any Obligor certified by the Servicer.
General Reserve Account Required Balance means, as of any Payment Date, an amount equal to 0.75% of the Adjusted Pool Balance on such date after taking into account all amounts applied to the Adjusted Pool Balance on such date.
General Reserve Account Required Balance means with respect to Payment Dates occurring on and after the Payment Date in October 2005:
General Reserve Account Required Balance means the lesser of (I) (a) if no Cash Accumulation Event has occurred and is continuing, the greater of (x) 1.00% of the sum of (i) the aggregate Cut-Off Date Loan Balances of the Initial Timeshare Loans, (ii) the aggregate Cut-Off Date Loan Balances of the Subsequent Timeshare Loans and (iii) the Prefunding Loan Balance or (y) 2.00% of the Aggregate Loan Balance at such time and (b) if a Cash Accumulation Event has occurred and is continuing, the greater of (x) 2.00% of the sum of (i) the aggregate Cut-Off Date Loan Balances of the Initial Timeshare Loans, (ii) the aggregate Cut-Off Date Loan Balances of the Subsequent Timeshare Loans and (iii) the Prefunding Loan Balance or (y) the product of (i) the Aggregate Loan Balance as of the last day of the immediately preceding Due Period and (ii) 5.00% and (II) the Aggregate Outstanding Note Balance immediately prior to such Payment Date.