Negative Carry definition

Negative Carry means in relation to any Financial Assistance the negative Cost of Carry (if any) incurred by EFSF and allocated by EFSF to the funding of that Financial Assistance.
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Negative Carry means in relation to any Financial Assistance the negative Cost of Carry (if any) incurred by ESM and allocated by ESM to the funding of that Financial Assistance in accordance with the ESM Pricing Policy.
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Negative Carry means, with respect to any Prefunding Date, a percentage equal to (i) for the amount on deposit in the Prefunding Account by the Company, (a) the money market yield of the rate quoted on a discount basis for commercial paper having a thirty (30) day maturity, as made available and subse quently published by the Board of Governors of the Federal Reserve System in H.15(519) under the heading "Commercial Paper", plus (b) 1.40%, minus (c) the Targeted Interest Rate; (ii) for the amount on deposit in the Prefunding Account funded by the Bank Investors, (a) the LIBOR Rate, (b) plus 1.40%, minus (c) the Targeted Interest Rate.
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Examples of Negative Carry in a sentence

  • On each Payment Date, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the Negative Carry Amount for such Collection Period.

  • In addition, on the Payment Date following the calendar month in which the last day of the Funding Period occurs, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account the amount remaining on deposit in the Negative Carry Account (after giving effect to all withdrawals from the Negative Carry Account on that Payment Date) and deposit it into the Collection Account for application as Available Funds for such Payment Date.

  • If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount for such Payment Date) is greater than the Required Negative Carry Account Balance, the excess will be released to the Seller.

  • Release Excess Funds from Negative Carry Account to Seller (MART) 0.00 4.

  • On or before each Payment Date, the Indenture Trustee shall make all withdrawals and deposits to the Collection Account, Note Distribution Account, Reserve Account, the Pre-Funding Account, if any, and the Negative Carry Account, if any, and shall make all distributions to Certificateholders in accordance with Sections 5.06 and 5.07 of the Sale and Servicing Agreement.

  • On the Closing Date, the Depositor shall deposit in the Negative Carry Account $0.00 (the “Negative Carry Account Initial Deposit”) from the net proceeds of the sale of the Notes.

  • Fixed Percentage for Calculating Maximum Negative Carry Amount 1.25% 5.

  • Subject to the proviso set forth in Section 5.1(a)(v), on the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account.

  • Any Certificateholder may, at its option, deposit funds into the Negative Carry Account on any date.

  • On the Payment Date on which the Optional Redemption is to be exercised, the Indenture Trustee shall transfer any amounts on deposit in the Reserve Account, the Acquisition Account and the Negative Carry Account into the Collection Account.


More Definitions of Negative Carry

Negative Carry the meaning specified in the Security Agreement.
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Negative Carry means, with respect to any Distribution Date, the excess if any, of (i) the product of (A) the cost of funds with respect to all Advances accrued during the Accrual Period ending on such Distribution Date, i.e., (x) with respect to Base Rate Advances, the Federal Funds Rate, (y) with respect to Eurodollar Advances, LIBOR and (z) with respect to Commercial Paper Rate Advances, the cost of obtaining funds in the commercial paper market to fund such advances, and (B) the Average Daily Funded Percentage with respect to such Distribution Date over (ii) all Designated Series Investment Earnings with respect to such Distribution Date and with respect to all Designated Series.
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Negative Carry has the meaning given to the term "Negative Carry" in the PSI LM Facility Agreement.
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Negative Carry means, as of any date, with respect to the daily balance on deposit in the Disbursement Account during the period ending on such date an amount equal to the difference between interest calculated at a rate per annum equal to the Note Interest Rate on such balance and interest or other income accrued during such period (but only to the extent that such interest or other income is less than the Note Interest Rate) on Permitted Investments in the Disbursement Account.
Sample 1
Negative Carry means, with respect to any Prefunding Date, a percentage equal to (i) for the amounts in the Prefunding Account deposited by VFCC, (a) the money market yield of the rate quoted on a discount basis for commercial paper having a 30 day maturity, as made available and subsequently published by the Board of Governors of the Federal Reserve System in H.15(519) under the heading "commercial paper," plus (b) 1.425%, minus (c) the Targeted Interest Rate and (ii) for the amounts in the Prefunding Account funded by the Investors, (a) the Adjusted LIBOR Rate, (b) plus 1.425%, minus (c) the Targeted Interest Rate.
Sample 1

Related to Negative Carry

  • Negative Carry Amount shall have the meaning specified in subsection 4.10(a) of the Agreement.

  • Required Collateral Fund Balance As of any date of determination, an amount equal to the aggregate of all amounts previously required to be deposited in the Collateral Fund pursuant to Section 2.02(d) (after adjustment for all withdrawals and deposits pursuant to Section 2.02(e)) and Section 2.03(b) (after adjustment for all withdrawals and deposits pursuant to Section 2.03(c)) and Section 3.02 to be reduced by all withdrawals therefrom pursuant to Section 2.02(g) and Section 2.03(d).

  • Noteholders’ Interest Carryover Amount means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

  • Servicing Base Amount shall have the meaning specified in Section 3.01.

  • Noteholders’ Principal Carryover Amount means, as of any date of determination, all or any portion of the Noteholders’ Principal Distributable Amount from the preceding Distribution Date which remains unpaid as of such date of determination.

  • Class D Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the Class D Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class D Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that was actually paid to Noteholders of Class D Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class D Notes on the preceding Payment Date, to the extent permitted by law, at the Class D Interest Rate for the related Interest Period.

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Net Amount of Eligible Accounts means the gross amount of Eligible Accounts less (a) sales, excise or similar taxes included in the amount thereof and (b) returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto.

  • Class C Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the Class C Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class C Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that was actually paid to Noteholders of Class C Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class C Notes on the preceding Payment Date, to the extent permitted by law, at the Class C Interest Rate for the related Interest Period.

  • Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing.

  • Class B Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class B Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law, at the Class B Interest Rate for the related Interest Period.

  • Noteholders’ Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the sum of the Noteholders’ Monthly Interest Distributable Amount for such Class for the preceding Distribution Date plus any outstanding Noteholders’ Interest Carryover Shortfall for such Class on such preceding Distribution Date, over the amount in respect of interest that is actually paid on the Notes of such Class on such preceding Distribution Date, plus, to the extent permitted by applicable law, interest on the Noteholders’ Interest Carryover Shortfall at the related Interest Rate for the related Interest Period (calculated on the same basis as interest on that Class of Notes for the same period).

  • Net WAC Rate Carryover Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates on such Distribution Date calculated at the related Formula Rate, over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate for such Class of Certificates for such Distribution Date and for such Accrual Period.

  • Net Pool Balance means, as of any date, the aggregate Outstanding Principal Balance of all Receivables (other than Defaulted Receivables) of the Issuer on such date.

  • Class A Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class A Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to holders of the Class A Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by each Class of the Class A Notes for the related Interest Accrual Period.

  • Class B Principal Percentage means, with respect to any Monthly Period, (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class B Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Cut-off Date Pool Principal Balance The aggregate Stated Principal Balances of all Mortgage Loans as of the Cut-off Date.

  • Asset Pool 1 Supplement means the Asset Pool 1 Supplement dated as of October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time.

  • Noteholders' Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Noteholders’ Principal Distributable Amount for the preceding Distribution Date over the amount in respect of principal that is actually paid as principal on the Notes on such previous Distribution Date. Noteholders’ Principal Carryover Shortfall is not used to determine the amount of principal due on the Notes on any Distribution Date, but is used solely for reporting purposes.

  • Diluted Receivable means that portion of any Receivable which is either (a) reduced or canceled as a result of a Dilution Factor or (b) subject to any bona fide specific dispute, offset, counterclaim or defense whatsoever.

  • Reference Cut-Off Date means the eighth Scheduled Trading Day immediately following the Scheduled Reference Date or, if earlier, the Scheduled Trading Day falling on or immediately preceding the second Business Day immediately preceding the due date on which payment of any amount or delivery of any assets may have to be made pursuant to any calculation or determination made on such Reference Date, provided that the Reference Cut-Off Date shall not fall prior to the original date on which such Reference Date was scheduled to fall.

  • Ineligible Account means an Account that at the time of determination is not an Eligible Account.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1.0%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Cut-off Date Pool Balance The aggregate Cut-off Date Principal Balance of all the Original Mortgage Loans.