General Reserve Fund Required Amount definition

General Reserve Fund Required Amount has the meaning given to it in the Administration Agreement.
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General Reserve Fund Required Amount means (a) on the Closing Date an amount equal to £5,250,000 (being an amount equal to 1.50 per cent. of the Principal Amount Outstanding of the Class A Notes as at the Closing Date), (b) on each Calculation Date, an amount equal to 1.50 per cent. of the Principal Amount Outstanding of the Class A Notes on such date prior to deducting any repayments to be made on the related Interest Payment Date and (c) zero on any date on or after the Class A Notes are fully repaid;
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General Reserve Fund Required Amount means an amount equal to:
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Examples of General Reserve Fund Required Amount in a sentence

  • PML as Administrator (on behalf of the Issuer) will fund the General Reserve Fund from part of the proceeds of the Noteholders' subscription for the Class S Notes in an amount equal to the General Reserve Fund Required Amount as at the Closing Date.

  • Any amount representing the General Reserve Fund Required Amount on the Closing Date will be paid into the Transaction Account (with a corresponding credit recorded to the General Reserve Fund Ledger).

  • General Reserve Fund The General Reserve Fund will, on the Issue Date, be funded by the proceeds from the Notes up to the General Reserve Fund Required Amount.

  • Key Structural Features: The general credit and liquidity structure of the transaction includes, broadly, the following elements: • availability of the General Reserve Fund, initially funded by the proceeds of the Class Z2 Notes on the Closing Date up to the "General Reserve Fund Required Amount" (being (i) prior to the earlier of (a) the first Interest Payment Date and(b) the redemption of the Rated Notes (other than the Class X1 Notes) in full, an amount equal to 2.5 per cent.

  • General Reserve Fund The General Reserve Fund will, on the Issue Date be funded by partof the proceeds of the X Notes and the proceeds from the Z Notes in an amount equal to the General Reserve Fund Required Amount.

  • The entire proceeds of the Z Notes and a proportion of the proceeds from the X Notes will be used to fund the General Reserve Fund up to the General Reserve Fund Required Amount.

  • The proceeds of the Z Notes and part of the proceeds of the X Notes will be used to fund the General Reserve Fund in an amount equal to the General Reserve Fund Required Amount.

  • The General Reserve Fund will be initially funded by the proceeds from the Notes in an amount equal to the General Reserve Fund Required Amount.

  • The General Reserve Fund will be funded on the Issue Date by the Available Revenue Receipts standing to the credit of the Transaction Account on the Issue Date up to the General Reserve Fund Required Amount.

  • After the Closing Date, the General Reserve Fund will be replenished up to the General Reserve Fund Required Amount on each Interest Payment Date up to and including the Final Redemption Date from Available Revenue Receipts in accordance with the Pre-Enforcement Revenue Priority of Payments.


More Definitions of General Reserve Fund Required Amount

General Reserve Fund Required Amount means the Funding 1 General Reserve Fund Required Amount;
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General Reserve Fund Required Amount means, in respect of each Interest Payment Date will be (i) for as long as any Class A Notes remain outstanding, an amount equal to 2 per cent. of the aggregate of the Principal Amount Outstanding of the Class A Notes on the Closing Date and (ii) following redemption of the Class A Notes in full, zero;
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General Reserve Fund Required Amount means, in respect of the Issue Date and each Interest Payment Date (as determined on the immediately preceding Determination Date):
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Related to General Reserve Fund Required Amount

  • Debt Service Reserve Fund Requirement means, with respect to the 2022 Series A Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2022 Series A Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.

  • Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date).

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Required Amount means, with respect to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • 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.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.