Minimum Transferor Interest definition

Minimum Transferor Interest means, with respect to any period, --------------------------- 7% of the average of the aggregate amount of Principal Receivables for such period.

Minimum Transferor Interest means, with respect to any Monthly Period, an amount equal to the product of the Minimum Transferor Interest Percentage and the sum of (i) the Average Principal Receivables for such Monthly Period, (ii) the Excess Funding Amount and (iii) any amounts on deposit in any Principal Funding Account and any other Series Account (if so specified in the applicable Supplement).

Minimum Transferor Interest. With respect to any date, an amount equal to the lesser of (a) ___% of the Pool Balance on such date and (b) the Transferor Principal Balance as of the Closing Date.

Examples of Minimum Transferor Interest in a sentence

• Collections allocable to the Transferor Certificates pursuant to this Section 8.03(e) will be distributed to the Issuer only to the extent that the distribution will not reduce the applicable Allocated Transferor Interest as of the related Payment Date below the related Minimum Transferor Interest.

• Amounts not distributed to the Issuer because of this limitation will be retained in the Collection Account until the Transferor Interest exceeds the Minimum Transferor Interest, at which time the excess shall be released to the Issuer.

• Notwithstanding the foregoing and any other provisions of this Supplement, amounts payable to the Transferor shall instead be deposited in the Excess Funding Account to the extent necessary to prevent the Transferor Interest from being less than the Minimum Transferor Interest.

• Collections allocable to the Transferor Certificates will be distributed to the Issuer only to the extent that the distribution will not reduce the Transferor Interest as of the related Payment Date below the Minimum Transferor Interest.

• Amounts not distributed to the Issuer because of this limitation will be retained in the Payment Account until the applicable Allocated Transferor Interest exceeds the related Minimum Transferor Interest, at which time the excess shall be released to the Issuer.

More Definitions of Minimum Transferor Interest

Minimum Transferor Interest means, as of any date of determination, the sum of the product for each Series of (i) the Minimum Transferor Percentage for such Series, times (ii) the Invested Amount for such Series. "Minimum Transferor Percentage" is 4% with respect to the Series 1998-2 Certificates.

Minimum Transferor Interest means 4% (or such other percentage as specified in the related Supplement) of the Average Principal Receivables; provided, however, that the Transferor may reduce the Minimum Transferor Interest upon (w) delivery to the Trustee of a Tax Opinion with respect to such reduction, (x) 30 day’s prior notice to the Trustee, each Rating Agency and any Credit Enhancement Provider entitled to receive such notice pursuant to the relevant Supplement, (y) written confirmation from the Rating Agency that such reduction will not result in the reduction or withdrawal of the respective ratings of each Rating Agency for any Series outstanding and (z) delivery to the Trustee and each such Credit Enhancement Provider of an Officer’s Certificate stating that the Transferor reasonably believes that such reduction will not, based on the facts known to such officer at the time of such certification, then or thereafter cause a Pay Out Event to occur with respect to any Series; provided further that the Minimum Transferor Interest shall not at any time be less than 2%.

Minimum Transferor Interest is an amount equal to the lesser of (a) 1.00% of the Loan Balance at the beginning of the immediately preceding Collection Period and (b) 0.50% of the Loan Balance as of the Cut-off Date.

Minimum Transferor Interest shall have the meaning specified in subsection 2.06(a).

Minimum Transferor Interest for any period means 4% of the average principal receivables for such period. The transferor may reduce the Minimum Transferor Interest to not less than 2% of the average principal receivables for such period upon notification that such reduction will not cause a reduction or withdrawal of the rating of any outstanding investor certificates issued by master trust II that are rated by the rating agencies rating those investor certificates and certain other conditions as set forth in the master trust II agreement.

Minimum Transferor Interest means, as of any date of determination after the Certificate Trust Termination Date, the product of (a) the Aggregate Principal Receivables and (ii) 7% or, if less, the highest of the Required Retained Transferor Percentages specified in the Indenture Supplement for any outstanding Series.

Minimum Transferor Interest means as of any date of determination, an amount equal to 5% of (a) the amount of Principal Receivables as of such date of determination plus (b) the amount on deposit in the Excess Funding Account on the date of determination; provided that the Transferor may increase or reduce the percentage used to determine the Minimum Transferor Interest (but not below 2%) upon (a) 30 day's prior notice to the Trustee, each Rating Agency and any Credit Enhancement Provider, (b) satisfaction of the Rating Agency Condition, and (c) delivery to the Trustee and each such Credit Enhancement Provider of an Officer's Certificate stating that the Transferor reasonably believes that such reduction will not, based on the facts known to such officer at the time of such certification, then or thereafter cause a Pay Out Event to occur with respect to any Series.