Parity Percentage definition

Parity Percentage shall have the meaning given such term in the Base Indenture.

Parity Percentage means, as of any date of determination, the fraction expressed as a percentage, the numerator of which is the sum of (i) the then Pool Balance and (ii) all amounts on deposit in the Collection Account and the Reserve Account and the denominator of which is the sum of the aggregate Outstanding Amount of the Notes and the Certificates, accrued and unpaid interest thereon plus accrued and unpaid Transaction Fees and Consolidation Loan Fees.

Parity Percentage means, as of any date of determination, the fraction expressed as a percentage, the numerator of which is the sum of (i) the then Pool Balance plus accrued interest thereon due from borrowers, and accrued Interest Subsidy Payments and Special Allowance Payments, if any, as of the end of the preceding Collection Period, and (ii) all amounts on deposit (including any accrued interest thereon) in the Collection Account and the Reserve Account and the denominator of which is the sum of the aggregate Outstanding Amount of the Notes and the Certificates, accrued and unpaid interest thereon plus accrued and unpaid Transaction Fees and Consolidation Loan Fees.

Examples of Parity Percentage in a sentence

• The Series B1 Notes that are otherwise subject to optional or mandatory redemption shall be redeemed only if, as of the date of selection of Series B1 Notes for redemption and after giving effect to such redemption, the Senior Parity Percentage will be equal to at least the Required Senior Parity Percentage, and the Parity Percentage will be equal to at least the Required Parity Percentage.

• Amounts on deposit in the Excess Surplus Account may be withdrawn by the Issuer at any time upon written request of the Issuer to the Indenture Trustee; provided that after such withdrawal the Parity Percentage shall be at least the Parity Percentage Limitation.

• Series B1 Notes shall be redeemed only to the extent that after such payment the Senior Parity Percentage shall not be less than the Required Senior Parity Percentage.

• The Issuer may not exercise its option to redeem any Auction Rate Notes unless after any such redemption the Parity Percentage is no less than ___% and the provisions of Section 5.4 of the Base Indenture regarding the minimum amount of Financed Student Loans bearing interest at a fixed rate held in the Student Loan Portfolio Fund are satisfied.

• Total Liabilities Overall Parity Percentage (III.C.iv / III.C.xii.) Senior Parity Percentage [III.C.iv / (III.C.v + III.C.vi + III.C.xi)] Senior-Subordinate Parity Percentage [III.C.iv / (III.C.v + III.C.vi + III.C.vii + III.C.viii + III.C.xi)] Net Assets (III.C.iv - III.C.xii) $ 91,121,948.01$ 1,689,513.53$ 28,932,810.13$ 121,744,271.67 $ 92,710,000.00519,396.82-----$ 93,229,396.82 130.59% 130.59% 130.59% $ 28,514,874.85 IV.

More Definitions of Parity Percentage

Parity Percentage shall have the meaning assigned to such term in the Insurance Agreement.

Parity Percentage means the ratio expressed as a percentage of (i) the Value of the Trust Estate, to (ii) the sum of the principal amount and accrued interest on all Notes then Outstanding under the Resolution, accrued but unpaid Operating Costs not funded in the Operating Fund on any given date, and any accrued but unpaid Department Reserve Fund Accounts not funded in the Department Reserve Fund on any given date. Because excess cash will not be released from the Trust Estate as described below under “Flow of Funds - No Cash Release,” we expect that the Parity Percentage will increase over time. The Collection Fund The Trustee will establish the Collection Fund as part of the Trust Estate. The Trustee will deposit into the Collection Fund daily all moneys received by or on behalf of the Corporation as assets of, or with respect to, the Trust Estate. Money on deposit in the Collection Fund will be used as described below under “Flow of Funds.” Flow of FundsAs of the 20th day of the month prior to each Distribution Date and performed not later than the 25th day of such month (unless an Authorized Officer of the Corporation directs the Trustee in a certificate to do so more frequently), the Trustee will withdraw from amounts then on deposit in the Collection Fund and, to the extent that there are amounts in the Collection Fund available therefor, make deposits to the credit of the Funds and Accounts, in the amounts and in order of priority as follows:

Parity Percentage means the ratio (expressed as a percentage) of the Value of the Trust Estate, less accrued interest and fees with respect to all Notes, to the principal amount of all Notes then Outstanding.

Parity Percentage means, unless otherwise set forth in a Supplemental Indenture, as of any particular date of calculation, the ratio, expressed as a percentage, of (a) Accrued Assets over (b)

Parity Percentage means, as of any Distribution Date or other date, the fraction expressed as a percentage, the numerator of which is the sum, without duplication, of (i) the Pool Balance plus accrued interest thereon due from borrowers, accrued interest which is expected to be capitalized, and accrued Interest Subsidy Payments and Special Allowance Payments, if any, as of the end of the preceding Collection Period, and (ii) all amounts on deposit (including any accrued interest thereon) in the Acquisition Fund, the Collection Fund and the Reserve Fund, if any, as of the end of such Collection Period (adjusted for payments made on

Parity Percentage means, for any Payment Date or Quarterly Payment Date with respect to a Series, the percentage determined by dividing (i) the applicable Pool Balance as of the end of the preceding Collection Period, plus accrued interest thereon, accrued Interest Subsidy Payments and Special Allowance Payments as of the end of such Collection Period, and all amounts (including any accrued interest thereon) in the Collection Account (or to be deposited therein on account of payments on the Financed Student Loans that have reduced the Pool Balance as of the end of such Collection Period) and the Reserve Account as of the end of such Collection Period (adjusted for payments made on such Payment Date or Quarterly Payment Date), and by (ii) the sum of the aggregate Outstanding Amount of the Notes (after payments thereon on such Payment Date or Quarterly Payment Date), accrued interest thereon and unpaid Transaction Fees and Consolidation Loan Fees.

Parity Percentage means the ratio expressed as a percentage of the Value of the Pledged Assets to the principal amount of and accrued interest on all Notes then Outstanding plus accrued but unpaid Operating Costs.