Minimum Trust Interest definition

Minimum Trust Interest has the meaning specified in the related Series Supplement.
Sample 1Sample 2
Minimum Trust Interest means for any date of determination an amount equal to (a) the product of 104% (or such lesser percentage that satisfies the Rating Agency Condition) times the aggregate investor interest (or adjusted investor interest if applicable) for all Series outstanding as of such date minus (b) the aggregate investor interest (or adjusted investor interest if applicable) for all Series outstanding as of such date plus (c) the Excess Receivables Amount as of such date plus (d) the portion of the principal balance of the Receivables having a remaining term of more than twelve months that is in excess of 10% of the principal balance of the Receivables.
Sample 1Sample 2
Minimum Trust Interest means for any date of determination an amount equal to (a) the product of 104% times the greater of (x) the maximum Amortization Commencement Aggregate Funded Amount of any Series then outstanding and (y) the Aggregate Investor Interest as of such date minus (b) the Aggregate Investor Interest as of such date plus (c) the Excess Receivables Amount as of such date applied pursuant to Section 5.25.
Sample 1

Examples of Minimum Trust Interest in a sentence

  • In the reasonable belief of the Seller, the removal of the Removed Receivables on the Removal Date shall not: (i) cause a Pay Out Event to occur (provided that the Removed Receivables shall be considered to be removed as of the Removal Date for purposes of this subclause (i)); (ii) cause the Trust Interest to be less than the Minimum Trust Interest on such Removal Date; or (iii) result in the failure to make any payment specified in any Series Supplement.

  • Effect of high temperature treatment on the mechanical properties of birch (Betula papyrifera).


More Definitions of Minimum Trust Interest

Minimum Trust Interest means for any date of determination an amount equal to (a) the product of 104% (or such lesser percentage as each Rating Agency shall confirm will not result in the reduction, qualification or withdrawal of the rating of the Class A Notes and such other Classes of Notes as are held by persons other than the Seller or its affiliates) times the greater of (x) the maximum Amortization Commencement Aggregate Funded Amount of any Series then outstanding and (y) the aggregate investor interest (or adjusted investor interest if applicable) as of such date minus (b) the aggregate investor interest (or adjusted investor interest if applicable)as of such date plus (c) the Excess Receivables Amount as of such date applied pursuant to Section 5.25.
Sample 1

Related to Minimum Trust Interest

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Asset Interest is defined in Section 2.1(b).

  • Pledged Trust Interests means all interests in a Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 4.4(A) under the heading “Pledged Trust Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of such Grantor on the books and records of such trust or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such trust interests.

  • Percentage Interest As to any Certificate, the percentage interest evidenced thereby in distributions required to be made on the related Class, such percentage interest being set forth on the face thereof or equal to the percentage obtained by dividing the Denomination of such Certificate by the aggregate of the Denominations of all Certificates of the same Class.

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Investment interest means investment interest as defined in section 163(d)(3) of the Internal Revenue Code.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Mortgage Interest Rate The annual rate of interest borne on a Mortgage Note.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.