Required Expense Reserve definition

Required Expense Reserve means the sum of the amounts described in clauses (ii) and (iii) in the definition of “Required Expense Amount.”
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Required Expense Reserve. An amount that, following any Funding Date, shall remain on deposit in the Collection and Funding Account, which amount shall equal (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into each Series Reserve Account on the next Payment Date, plus (iv) the aggregate of all Target Amortization Amounts payable on the next Payment Date, except with respect to any Classes of Notes for which the related Indenture Supplement provides that Target Amortization Amounts shall not be reserved as part of the Required Expense Reserve, plus (v) all accrued and unpaid Default Supplemental Fees and ERD Supplemental Fees and related shortfall amounts, if any, due on the Notes on the next Payment Date following such Funding Date, minus (vi) the amounts then on deposit in the Accumulation Accounts.
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Required Expense Reserve. An amount that, following any Funding Date, shall remain on deposit in the Collection and Funding Account, which amount shall equal (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into each Series Reserve Account on the next Payment Date, plus (iv) the aggregate of all Target Amortization Amounts payable on the next Payment Date, except with respect to any Classes of Notes for which the related Indenture Supplement provides that Target Amortization Amounts shall not be reserved as part of the Required Expense Reserve minus (v) the amounts then on deposit in the Accumulation Accounts.
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Examples of Required Expense Reserve in a sentence

  • All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Required Expense Reserve Account will be withdrawn prior to 10:00 a.m. (New York City time) on each Quarterly Payment Date for deposit to the Collection Account for application as Collections in accordance with Section 5.7 on such Quarterly Payment Date.

  • If the Required Expense Reserve Amount is decreased by the Control Party on any date of determination, any resulting excess funds on deposit in the Required Expense Reserve Account above the Required Expense Reserve Amount on such date shall be withdrawn by the Trustee at the direction of the Manager (acting on behalf of the Issuers) and deposited in the Collection Account for subsequent application through the Priority of Payments.

  • Various efforts have been made by the scientific community to prepare phosphorylated derivatives of renewable phenolics.

  • SPRT16.5 entitled “Deutsche Bank Trust Company Americas f/b/o Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC and Sprint Spectrum Co III LLC, Required Expense Reserve Account” in the name of the Master Issuer for the benefit of the Issuers and under the control of the Trustee for the benefit of the Secured Parties as pledgees, for the deposit of the Required Expense Reserve Amount (the “Required Expense Reserve Account”).

  • The Required Expense Reserve Account shall be an Eligible Account.

  • On the Series 2016-1 Closing Date, $176,400,000 of the net proceeds from the initial sale of the Series 2016-1 Class A Notes will be deposited into the Class A Notes Interest Reserve Account, $49,971,659 of the net proceeds from the initial sale of the Series 2016-1 Class A Notes will be deposited to the Required Expense Reserve Account and the remainder of the net proceeds from the sale of the Series 2016-1 Class A Notes will be distributed or otherwise transferred to, or at the direction of, the Issuers.

  • On or after each Distribution Date, the Trustee shall withdraw from the collection Account to the extent amounts shall be available after the prior withdrawal therefrom of the Aggregate Regular Certificate Distribution Amount, and after allowance for any amounts withdrawable pursuant to the first paragraph of this Section 5.04, any Required Expense Reserve Account Deposit Amount.

  • On or after each Distribution Date, the Securities Administrator shall withdraw from the collection Account to the extent amounts shall be available after the prior withdrawal therefrom of the Aggregate Regular Certificate Distribution Amount, and after allowance for any amounts withdrawable pursuant to the first paragraph of this Section 5.04, any Required Expense Reserve Account Deposit Amount.

  • On the Series 2018-1 Closing Date, $0 of the net proceeds from the initial sale of the Series 2018-1 Class A Notes will be deposited into the Class A Notes Interest Reserve Account, $3,306,330 of the net proceeds from the initial sale of the Series 2018-1 Class A Notes will be deposited to the Required Expense Reserve Account and the remainder of the net proceeds will be distributed or otherwise transferred to, or at the direction of, the Issuers.

  • If the Collateral Requirement is satisfied, then the Trustee shall withdraw from the Collection Account, and shall remit to the Issuer, cash in an amount equal to the lesser of (1) the amount of the Transferor Interest and (2) the amount by which (x) funds on deposit in the Collection Account exceed (y) the amount of the Required Expense Reserve for the next upcoming Payment Date.


More Definitions of Required Expense Reserve

Required Expense Reserve. An amount that, following any Funding Date, shall remain on deposit in the Collection and Funding Account, which amount shall comprise and be equal to with respect to the Receivables, Collections in an amount equal to the aggregate of (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into the General Reserve Account on the next Payment Date, plus (iv) the aggregate amount, if any, required to be paid in respect of a Principal Payment Condition on the next Payment Date or Interim Payment Date.
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Required Expense Reserve. With respect to any Funding Date, an amount that, following such Funding Date, shall remain on deposit in the Trust Accounts, which amount shall comprise and be equal to with respect to the Receivables, Collections in an amount equal to the aggregate of (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into each General Reserve Account on the next Payment Date, plus (iv) the aggregate of all Target Amortization Amounts payable on the next Payment Date, except with respect to any Classes of Notes for which the related Indenture Supplement provides that Target Amortization Amounts shall not be reserved as part of the Required Expense Reserve.
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Required Expense Reserve. With respect to any Funding Date, an amount that, following such Funding Date, shall remain on deposit in the Trust Accounts, which amount shall comprise and be equal to with respect to the Receivables, Collections in an amount equal to the aggregate of (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into each General Reserve Account on the next Payment Date, plus (iv) the aggregate of all Target Amortization Amounts payable on the next Payment Date, except with respect to any Classes of Notes for which the related Indenture Supplement provides that Target Amortization Amounts shall not be reserved as part of the Required Expense Reserve plus (v) all accrued and unpaid Default Supplemental Fees and related shortfall amounts, if any, due on the Notes on the next Payment Date following such Funding Date minus (vi) the amounts then on deposit in the Accumulation Accounts. ResCap: Residential Capital, LLC.
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Required Expense Reserve means, with respect to any Payment Date, an amount equal to the Expenses payable during the three succeeding Interest Accrual Periods beginning on such Payment Date or reasonably anticipated by the Issuer to become due and payable during such period, the accrual of which would be prudent in light of the size and timing of such Expenses.
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Required Expense Reserve. An amount that, following any Funding Date (other than a Funding Date that is a Payment Date), shall remain on deposit in the Collection and Funding Account, which amount shall equal (i) the amounts payable in respect of Fees and invoiced or regularly occurring expenses payable from Available Funds on the next Payment Date, plus (ii) all accrued and unpaid interest due on the Notes on the next Payment Date following such Funding Date, plus (iii) all amounts required to be deposited into each General Reserve Fund on the next Payment Date, plus (iv) the aggregate of all Target Amortization Amounts payable on the next Payment Date, except with respect to any Classes of Notes for which the related Indenture Supplement provides that Target Amortization Amounts shall not be reserved as part of the Required Expense Reserve.
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Required Expense Reserve has the meaning set forth in Section 5.4 of the Base Indenture.
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Related to Required Expense Reserve

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Covered Expense means expense incurred only for the following:

  • Professional Fee Reserve Amount means the total amount of Professional Fee Claims estimated in accordance with Article II.A.2(c) of the Plan.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Capital Expenditure Reserve means, on an annual basis, an amount equal to $0.15 per square foot for each property owned by a Borrower or the Parent (or a Subsidiary thereof).

  • Planned Expenditures shall have the meaning provided in the definition of the term Excess Cash Flow.

  • Excluded Expenses means an amount a claimant pays for insurance offered under a health benefit plan for a taxable year if:

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • Administrative Expense Cap An amount equal on any Payment Date (when taken together with any Administrative Expenses paid during the period since the preceding Payment Date or in the case of the first Payment Date, the period since the Closing Date), to the sum of (a) 0.025% per annum (prorated for the related Interest Accrual Period on the basis of a 360-day year and the actual number of days elapsed) of the Fee Basis Amount on the related Determination Date and (b) U.S.$250,000 per annum (prorated for the related Interest Accrual Period on the basis of a 360-day year consisting of twelve (12) 30-day months); provided that (1) in respect of any Payment Date after the third Payment Date following the Closing Date, if the aggregate amount of Administrative Expenses paid pursuant to Section 11.1(a)(i)(A), Section 11.1(a)(ii)(A) and Section 11.1(a)(iii)(A) (including any excess applied in accordance with this proviso) on the three immediately preceding Payment Dates and during the related Collection Periods is less than the stated Administrative Expense Cap (without regard to any excess applied in accordance with this proviso) in the aggregate for such three preceding Payment Dates, then the excess may be applied to the Administrative Expense Cap with respect to the then-current Payment Date; and (2) in respect of the third Payment Date following the Closing Date, such excess amount shall be calculated based on the Payment Dates preceding such Payment Date.

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • Excluded Expenditure means any expenditure: (a) for goods or services supplied under a contract which any national or international financing institution or agency other than the Association or the Bank has financed or agreed to finance, or which the Association or the Bank has financed or agreed to finance under another credit, grant or loan; (b) for goods included in the following groups or sub-groups of the Standard International Trade Classification, Revision 3 (SITC, Rev.3), published by the United Nations in Statistical Papers, Series M, No. 34/Rev.3 (1986) (the SITC), or any successor groups or subgroups under future revisions to the SITC, as designated by the Association by notice to the Recipient: Group Sub-group Description of Item 112 Alcoholic beverages 121 Tobacco, un-manufactured, tobacco refuse 122 Tobacco, manufactured (whether or not containing tobacco substitutes) 525 Radioactive and associated materials 667 Pearls, precious and semiprecious stones, unworked or worked 718 718.7 Nuclear reactors, and parts thereof; fuel elements (cartridges), non-irradiated, for nuclear reactors 728 728.43 Tobacco processing machinery 897 897.3 Jewelry of gold, silver or platinum group metals (except watches and watch cases) and goldsmiths’ or silversmiths’ wares (including set gems) 971 Gold, non-monetary (excluding gold ores and concentrates) (c) for goods intended for a military or paramilitary purpose or for luxury consumption; (d) for environmentally hazardous goods, the manufacture, use or import of which is prohibited under the laws of the Recipient or international agreements to which the Recipient is a party; (e) on account of any payment prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations; and (f) with respect to which the Association determines that corrupt, fraudulent, collusive or coercive practices were engaged in by representatives of the Recipient or other recipient of the Financing proceeds, without the Recipient (or other such recipient) having taken timely and appropriate action satisfactory to the Association to address such practices when they occur.

  • Uncovered expenditures means the costs to the health maintenance organization for health care services that are the obligation of the health maintenance organization, for which an enrollee may also be liable in the event of the health maintenance organization's insolvency and for which no alternative arrangements have been made that are acceptable to the commissioner.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Independent expenditure means an expenditure by a person:

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Permitted Expenses shall include, without limitation, the expenses set forth in Sections 5.10 and 9.2 hereof.

  • Financing Costs Adjustment Date means each of the following days:

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Management Expenses means expenses, costs and charges necessarily and reasonably incurred in the management of the Development provided in this Deed which, except for the purpose of Clause 4.3 of Section IV of this Deed, shall include the Manager’s Remuneration;

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.