Maximum Negative Carry Amount definition
Maximum Negative Carry Amount means, if there is a Funding Period, with respect to the Closing Date and any Payment Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes, as of such date over (b) [RESERVED]% multiplied by (ii) the amount on deposit in the Pre-Funding Account on such date multiplied by (iii) the fraction of a year represented by the number of days from such date until, but excluding, the Payment Date immediately following the calendar month in which the last day of the Funding Period occurs (calculated on the basis of a 360-day year of twelve 30-day months).
Maximum Negative Carry Amount means, for any Payment Date, the product of:
Maximum Negative Carry Amount means the product of: (i) the difference between: (a) the weighted average of the interest rates on the A-1 Notes, the A-2 Notes, the A-3 Notes, the A-4 Notes and the Class B Notes, minus (b) 2.5%, multiplied by (ii) the Note Percentage of the amount on deposit in the Pre-Funding Account multiplied by (iii) the fraction of a year represented by the number of days until the expected end of the Funding Period (calculated on the basis of a 360-day year of twelve 30-day months).
Examples of Maximum Negative Carry Amount in a sentence
The Purchaser, as set forth in the Sale and Servicing Agreement, shall deposit, from funds it receives from the sale of the Notes and Certificates, the (i) Reserve Fund Initial Deposit into the Reserve Fund, (ii) Yield Supplement Account Initial Deposit into the Yield Supplement Account, (iii) Pre-Funding Account Initial Deposit into the Pre-Funding Account and (iv) the Maximum Negative Carry Amount into the Negative Carry Account, each of which amounts shall be an asset of the Issuer.
On the Closing Date, the Depositor shall deposit the Yield Supplement Account Initial Deposit into the Yield Supplement Account, the Pre-Funding Account Initial Deposit into the Pre-Funding Account and the Maximum Negative Carry Amount into the Negative Carry Account from the net proceeds of the sale of the Notes.
Disposition of Assets, Merger, Character of Business, etc 6165 Section 5.03.
More Definitions of Maximum Negative Carry Amount
Maximum Negative Carry Amount means, as of any Payment Date, the product of (i) (1) the Weighted Average Rate as of such Payment Date multiplied by (2) the Note Percentage as of such Payment Date, minus (3) 1.25%, multiplied by (ii) the product of (x) the Remaining Pre-Funded Amount on that Payment Date and (y) the percentage equivalent of a fraction, the numerator of which is the actual number of days until the last day of the Pre-Funding Period and the denominator of which is 360. The Maximum Negative Carry Amount as of any Payment Date shall be calculated in the manner described in the preceding sentence as an approximation of the maximum aggregate amount of the Negative Carry Amounts for all subsequent Payment Dates.
Maximum Negative Carry Amount. With respect to the Closing Date and any Distribution Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes, as of such date over (b) 0.75%, multiplied by (ii) the amount on deposit in the Pre-Funding Account on such date multiplied by (iii) the fraction of a year represented by the number of days from such date until the end of the Funding Period (calculated on the basis of a 360-day year of twelve 30-day months).
Maximum Negative Carry Amount means, as of any Payment Date, an amount equal to the product of (a) the Weighted Average Rate as of such Payment Date minus 2.5%, multiplied by (b) the product of the Note Percentage as of such Payment Date and the Pre-Funded Amount as of such Payment Date after giving effect to any withdrawals from the Pre-Funding Account on such Payment Date, multiplied by (c) the percentage equivalent of a fraction, the numerator of which is the actual number of days until the expected end of the Pre-Funding Period and the denominator of which is 360. The Maximum Negative Carry Amount as of any Payment Date shall be calculated in the manner described in the preceding sentence as an approximation of the maximum aggregate amount of the Negative Carry Amounts for all subsequent Payment Dates.
Maximum Negative Carry Amount the weighted average of the Interest Rate on each class of Notes (assuming LIBOR is equal to the Stated Fixed Interest Rate Swap Rate for each class of Floating Rates Notes) minus 1.25%; multiplied by
Maximum Negative Carry Amount means with respect to the Closing Date and any Payment Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes, as of such date over (b) 1.75% multiplied by (ii) the amount on deposit in the Pre-Funding Account on such date multiplied by (iii) the fraction equal to the aggregate principal balance of the Notes over the aggregate principal balance of the Receivables plus the amounts on deposit in the Pre-Funding Account multiplied by (iv) the fraction of a year represented by the number of days from such date until, but excluding, the Payment Date immediately following the calendar month in which the last day of the Funding Period occurs (calculated on the basis of a 360-day year of twelve 30-day months).
Maximum Negative Carry Amount means an amount deposited into the Negative Carry Account on the Closing Date equal to $_______________.
Maximum Negative Carry Amount means, if there is a Funding Period, with respect to the Closing Date and any Payment Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes (using a rate of 5.189% per annum for the Class A-4 Notes), as of such date over (b) 1.75% multiplied by (ii) the amount on deposit in the Pre-Funding Account on such date multiplied by (iii) the fraction equal to the aggregate principal balance of the Notes over the aggregate principal balance of the Receivables plus the amounts on deposit in the Pre-Funding Account multiplied by (iv) the fraction of a year represented by the number of days from such date until, but excluding, the Payment Date immediately following the calendar month in which the last day of the Funding Period occurs (calculated on the basis of a 360-day year of twelve 30-day months).