Minimum Purchase Amount means an amount that would be sufficient to (i) reduce the Outstanding Amount of each class of Notes on such Distribution Date to zero and (ii) pay to the respective Noteholders the Class A Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Interest Distribution Amount payable on such Distribution Date.
Minimum Purchase Amount means an amount that would be sufficient to (i) reduce the Outstanding Amount of each class of Notes on such Distribution Date to zero, and (ii) pay to the respective Noteholders the Class A Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Interest Distribution Amount payable on such Distribution Date.
Minimum Purchase Amount means the minimum number of Certificates that may be sold to an investor as specified in the applicable Issue Terms, subject to a minimum of EUR100,000 (or, if the Certificates are denominated in a currency other than euro, the equivalent amount in such currency, determined using the market exchange rate as at the Issue Date). 1.4 Transfers of Certificates All transactions (including permitted transfers of Certificates) in the open market or otherwise must be effected through an account at Clearstream, Luxembourg, Euroclear, in the case of Certificates represented by a Global Registered Certificate held through Clearstream, Luxembourg, Euroclear, subject to and in accordance with the rules and procedures for the time being of Clearstream, Luxembourg or Euroclear, as the case may be. Title will pass upon registration of the transfer in the books of either Clearstream, Luxembourg or Euroclear, as the case may be. Transfers of Certificates may not be effected after the exercise or termination of such Certificates pursuant to Condition 4.1. Any reference herein to Euroclear or Clearstream, Luxembourg shall, whenever the context so permits, be deemed to include a reference to any additional or alternative clearing system specified in the applicable Issue Terms or as may otherwise be approved by the Issuer and the Principal Certificate Agent from time to time and notified to Certificateholders in accordance with Condition 9. Subject as stated above, transfers or exchanges of Certificates may only be made in accordance with the following provisions:
Examples of Minimum Purchase Amount in a sentence
If at least two bids are not received or the highest bid after the resolicitation process is completed is not equal to or in excess of the higher of the Minimum Purchase Amount and the fair market value of the Trust Student Loans, the Indenture Trustee shall not consummate such sale.
The Indenture Trustee shall accept the highest of such remaining bids if it is equal to or in excess of both the Minimum Purchase Amount and the fair market value of such Trust Student Loans as of the end of the Collection Period immediately preceding the Trust Auction Date.
If at least two bids are not received or the highest bid after the resolicitation process is completed is not equal to or in excess of the higher of (i) the Minimum Purchase Amount (plus any amounts owed to the Servicer for any Carryover Servicing Fees of which the Servicer has advised the Indenture Trustee in writing) and (ii) the fair market value of the Trust Student Loans, the Indenture Trustee shall not consummate such sale.
The Indenture Trustee shall accept the highest remaining bid if it is equal to or in excess of both (i) the Minimum Purchase Amount (plus any amounts owed to the Servicer for any Carryover Servicing Fees of which the Servicer has advised the Indenture Trustee in writing) and (ii) the fair market value of such Trust Student Loans as of the end of the Collection Period immediately preceding the Trust Auction Date.
However, we can waive the Minimum Purchase Amount in our sole discretion.
More Definitions of Minimum Purchase Amount
Minimum Purchase Amount means the greatest of (i) the Auction Purchase Amount, (ii) the fair market value of the Financed Student Loans as of the end of the Collection Period immediately preceding such Distribution Date, and (iii) the aggregate unpaid principal amount of the Notes and unpaid principal balance of the Certificates plus, in each case, accrued and unpaid interest thereon on the related Distribution Date and any amount to be paid pursuant to Section 5.04(b) FIRST and SECOND of the Indenture.
Minimum Purchase Amount shall have the meaning set forth in Section 4(a).
Minimum Purchase Amount means the minimum number of Certificates that may be sold to an investor as specified in the applicable Issue Terms, subject to a minimum of EUR100,000 (or, if the Certificates are denominated in a currency other than euro, the equivalent amount in such currency, determined using the market exchange rate as at the Issue Date).
Minimum Purchase Amount means FORTY MILLION DOLLARS ($40,000,000).
Minimum Purchase Amount means, with respect to any Distribution Date, an amount equal to the aggregate Principal Balance of the Trust Student Loans plus accrued and unpaid interest thereon; provided, however, that such amount must equal or exceed the amount that would be sufficient to (i) reduce the Outstanding Amount of each class of Notes on such Distribution Date to zero and (ii) pay to the respective Noteholders the Class A Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Interest Distribution Amount payable on such Distribution Date, and (iii) all amounts due to the Master Servicer, the Eligible Lender Trustee, the Indenture Trustee, the Administrator and the Paying Agent on such Distribution Date.
Minimum Purchase Amount means, with respect to any Quarterly Payment Date, an amount equal to the sum of the aggregate principal balance of the Trust Student Loans plus accrued and unpaid interest thereon; provided, however, that such amount must equal or exceed the amount that would be sufficient to (i) pay to the respective Noteholders the Class A Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Interest Distribution Amount payable on such Quarterly Payment Date, (ii) reduce the Outstanding Amount of each class of Notes on such Quarterly Payment Date to zero, and (iii) pay all amounts due to the Master Servicer and the Administrator on such Quarterly Payment Date, including, without limitation, any unreimbursed fees or expenses (including expenses incurred in connection with any auction held pursuant to Section 4.4 of the Indenture) incurred prior to such Quarterly Payment Date.
Minimum Purchase Amount means the greatest of (i) the Auction Purchase Amount, (ii) the fair market value of the Financed Student Loans as of the end of the Collection Period immediately preceding such Distribution Date, and (iii) the sum of (a) the aggregate unpaid principal amount of the Notes plus, accrued and unpaid interest thereon on the related Distribution Date, (b) any amounts to be paid pursuant to Section 5.04(b) FIRST and SECOND of the Indenture, (c) all amounts due and owing to the Securities Insurer under the Insurance Agreement and accrued interest thereon, (d) any unpaid Noteholders' Interest Index Carryover, (e) all amounts owed by the Trust to the Swap Counterparty under the Interest Rate Swap (including any unreimbursed Termination Payments), and (f) all amounts owed by the Trust to the Cap Provider under the Cap Agreement for unreimbursed Class A-1 Cap Payments and Class A-2 Cap Payments.