Ownership Income Requirement means, in respect of (i) a Series for a Reporting Period, an amount specified as such to be calculated or otherwise determined pursuant to the related Series PurchaseAgreement, plus (without duplication) the amount of Pool Expenses in respect of the Series for such Reporting Period; and (ii) a Series held by the Trust for a Reporting Period, an amount, which is not less than zero and is equal to the sum of (x) the related Series Interest and Additional Funding Expenses, if any, in respect of the related Reporting Day, and (y) the sum of the related Unpaid Interest Payments and Unpaid Additional Funding Expenses in respect of any previous Reporting Period.
Ownership Income Requirement means, in respect of the Series 2024-1 Ownership Interest for a Reporting Period, the amount determined as such in accordance with Section 5.1;
Ownership Income Requirement means, in respect of a Series for a Reporting Period, an amount specified as such to be calculated or otherwise determined pursuant to the related Series Purchase Agreement, plus (without duplication) the amount of Pool Expenses determined pursuant to Section 3.8(l) in respect of the Series for such Reporting Period.
Examples of Ownership Income Requirement in a sentence
All investment income received by the Series 2024-1 Co-Owner in respect of amounts on deposit in (i) the Accumulations Account, shall be transferred to the Accumulations Account on each Transfer Date and included in the determination of the Ownership Income Requirement of the Series 2024-1 Ownership Interest pursuant to Section 5.1(2), and (ii) the Cash Reserve Account, shall be dealt with in accordance with Section 6.1(6).