Minimum Specified Reserve Balance definition
Minimum Specified Reserve Balance with respect to any Distribution Date means the lesser of (i) $______ and (ii) the aggregate outstanding Class A Certificate Balance and Class B Certificate Balance (after giving effect to any distributions on the Certificates on such Distribution Date).
Minimum Specified Reserve Balance with respect to any Distribution Date means the lesser of (i) $ 2,200,089.59 and (ii) the aggregate outstanding principal balance of the Notes on such Distribution Date (after giving effect to all payments of principal on the Notes on such Distribution Date).
Minimum Specified Reserve Balance means, with respect to any Distribution Date, $7,825,372.75, except that in the event that on any Distribution Date (i) the annualized average for the preceding three Collection Periods (or such fewer number of Collection Periods as have elapsed since the Cutoff Date) of the ratios of net losses (i.e., the net balances of all Receivables which are determined to be uncollectible in the Collection Period, less any Liquidation Proceeds and any recoveries on Receivables that were written off in prior Collection Periods) to the Pool Balance as of the first day of each such Collection Period exceeds 2.75% or (ii) the average for the preceding three Collection Periods (or such fewer number of Collection Peri-
More Definitions of Minimum Specified Reserve Balance
Minimum Specified Reserve Balance with respect to any Payment Date means the lesser of (i) $__________ and (ii) the aggregate outstanding principal amount of the Notes and the Certificate Balance (after giving effect to any distributions on the Notes and Certificates on such Payment Date).