Required Excess Collateral Amount definition

Required Excess Collateral Amount means, at any time, 16.75% of the Collateral Amount; provided, that:

Required Excess Collateral Amount means, at any time, 5.00% of the Collateral Amount; provided, that:

Required Excess Collateral Amount means, at any time, 15.50% of the Collateral Amount; provided, that:

Examples of Required Excess Collateral Amount in a sentence

• As of any Payment Date during the Controlled Accumulation Period or Early Amortization Period on which Available Principal Collections are treated as Shared Principal Collections, the Collateral Amount shall be reduced by an amount equal to the lesser of (x) the amount of Available Principal Collections applied as Shared Principal Collections and (y) the excess, if any, of the Excess Collateral Amount over the Required Excess Collateral Amount.

• Automatically upon the making of any Class A Incremental Funding, the Collateral Amount shall increase by the aggregate amount of the Class A Incremental Fundings, plus such additional amount (an “Additional Enhancement Amount”) as may be necessary so that, after giving effect to each such Class A Incremental Funding, the Excess Collateral Amount would not be less than the Required Excess Collateral Amount.

• Automatically upon the funding to the Issuer of the aggregate Advance Amounts, the Collateral Amount shall increase by the amount of the Advance Amount, plus such additional amount (an “Additional Enhancement Amount”) as may be necessary so that, after giving effect to the Advance, the Excess Collateral Amount would not be less than the Required Excess Collateral Amount.

• Automatically upon the payment of any Optional Amortization Amount, the Collateral Amount shall decrease by an amount equal to the sum of (i) the related Optional Amortization Amount, and (ii) an additional amount specified in the Optional Amortization Notice (an “Enhancement Reduction Amount”) so long as, after giving effect to such reduction, the Excess Collateral Amount would not be less than the Required Excess Collateral Amount.

• Without the prior written consent of each Managing Agent, the Borrower shall not terminate, amend, waive, supplement or otherwise modify the Indenture or the Indenture Supplement so as to (x) reduce the Class B Pro Rata Percentage, the Required Excess Collateral Amount or the Minimum Free Equity Percentage, (y) delay the Controlled Amortization Date or (z) change the definition of “Eligible Receivable” or “Eligible Account” as such terms are defined in the Transfer Agreement.

More Definitions of Required Excess Collateral Amount

Required Excess Collateral Amount means, at any time, the product of (i) [ ]% times (ii) the quotient of (x) the Note Principal Balance divided by (y) [ ]%; provided that:

Required Excess Collateral Amount is defined in the Insurance Agreement. ---------------------------------

Required Excess Collateral Amount means on any Distribution Date 12.5% of the Collateral Amount (excluding any Supplemental Enhancement); provided that, (A) except as provided in (C) below, the Required Excess Collateral Amount will never be less than 3% of the Initial Collateral Amount (excluding any Supplemental Enhancement); (B) except as provided in (C) below, the Required Excess Collateral Amount will not decrease during a Rapid Amortization Period, and (C) the Required Excess Collateral Amount will never be greater than the Note Principal Balance minus the Principal Accumulation Account Balance; and provided further that, upon delivery by the Insurer of a Spread Account Partial Collateral Substitution Notice to the other parties to the Insurance Agreement, the percentage "12.5%" in the preceding clause (i) shall be deemed to be changed to "14.0%" with effect from the date of such delivery.

Required Excess Collateral Amount means, at any time, 10.46% of the Collateral Amount; provided that:

Required Excess Collateral Amount except as provided in clause (c), the Required Excess Collateral ---------- Amount shall never be less than 3% of the Initial Collateral Amount;

Required Excess Collateral Amount means, at any time, 16.75% of the Collateral Amount; provided , that:

Required Excess Collateral Amount means, as of any date of determination, --------------------------------- an amount that if equal to the Excess Collateral Amount on such date of determination would cause the Excess Collateral Amount Allocation Percentage to be equal to the Required Excess Collateral Amount Percentage on such date of determination.