Required Interest Reserve Amount definition

Required Interest Reserve Amount means (a) on any Loan Payment Date, an amount equal to the amount of interest that the Collateral Administrator reasonably determines will accrue on the Principal Amount during the three Accrual Periods (or, if fewer Accrual Periods remain prior to and including the Maturity Date, such actual number of remaining Accrual Periods) commencing with the Accrual Period commencing on such date, based on the interest rate applicable to the Loans on such date and taking into account the effect of any Permitted Interest Rate Xxxxxx (i.e., reduced by the amount of any ordinary expected swap receipts or increased by the amount of any ordinary anticipated swap payments other than margin payments) and (b) on any date of determination other than a Loan Payment Date, the amount of interest that the Collateral Administrator reasonably determines will accrue on the Principal Amount during the period beginning from and including the first day of the then-current Accrual Period through the two subsequent Accrual Periods (or, if fewer Accrual Periods remain prior to and including the Maturity Date, such actual number of remaining Accrual Periods) based on the interest rate applicable to the Loans on such date and taking into account the effect of any Permitted Interest Rate Xxxxxx.
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Required Interest Reserve Amount is defined in Section 2.08.
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Required Interest Reserve Amount shall have the meaning specified in subsection 4.19(g).
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Examples of Required Interest Reserve Amount in a sentence

  • On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Interest Reserve Account shall be retained in the Interest Reserve Account to the extent that the Required Interest Reserve Amount exceeds the amount on deposit in the Interest Reserve Account.

  • To the extent that the amount on deposit in the Interest Reserve Account exceeds the Required Interest Reserve Amount (after taking into effect any withdrawals required to be made on such Transfer Date), the amount of such excess shall be withdrawn from the Interest Reserve Account and distributed to the Swap Counterparty on such Transfer Date.

  • If on any Loan Payment Date, the amount on deposit in the Interest Reserve Account exceeds the Required Interest Reserve Amount, the amount of such excess shall be transferred to the Custodial Account for distribution in accordance with the Priority of Payments.

  • If on any Loan Payment Date the amount on deposit in the Interest Reserve Account exceeds the Required Interest Reserve Amount, the amount of such excess shall be available for distribution in accordance with the Priority of Payments.

  • The Borrower shall maintain on deposit in the Interest Reserve Account at all times during the term of the Loans an amount determined by PWRES to be equal to the Required Interest Reserve Amount (as defined below).

  • On each Settlement Date, the Administrative Agent shall withdraw from the Interest Reserve Account funds in an amount equal to all amounts then on deposit in the Interest Reserve Account in excess of the Required Interest Reserve Amount and deposit such funds into the Collection Account for distribution in accordance with the applicable priority of payments set forth in Section 3.03.

  • The Borrower shall deposit into the Interest Reserve Account, from time to time within 7 days following its receipt of notice from PWRES, the amount of any shortfall in the Required Interest Reserve Amount, it being understood that if the amount of any such shortfall is contributed to the Borrower by the constituent partners in the Borrower, the amounts so contributed shall not constitute Capital Contributions as defined in the section hereof entitled "Equity Contribution".

  • On each Payment Date, the Indenture Trustee shall transfer any amounts in the Expense Reserve Account in excess of the Required Interest Reserve Amount to the Collection Account to be included in Available Funds for such Payment Date.

  • If the Maturity Date is extended in compliance with the Note, then, as further provided in the Note, the Required Interest Reserve Amount shall be recalculated based on the adjusted Maturity Date and Interest Rate (as defined in the Note) (such recalculated amount being referred to herein as the “Additional Reserve”), and the Company shall deposit into the Interest Reserve Account, on or prior to the original Maturity Date, the amount of the Additional Reserve in cash.

  • The amount on deposit in the Interest Reserve Account is less than the Required Interest Reserve Amount and such deficit remains uncured for three (3) Business Days.


More Definitions of Required Interest Reserve Amount

Required Interest Reserve Amount. Amounts in the Interest Reserve Account may be invested in Temporary Investments. OPTIONAL PREPAYMENTS Loans may be prepaid at any time in whole or in part at the option of the Borrower with funds available for such purpose as provided under the Priority of Payments or with capital contributions made by the Partners, in a minimum principal amount and in multiples to be agreed upon, without premium or penalty.
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Required Interest Reserve Amount means $100,000.
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Required Interest Reserve Amount means, as of the date of the Initial Advance and as of each Determination Date immediately preceding each Payment Date, an amount equal to:
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Required Interest Reserve Amount means, as of any date of determination, the product of (a) the sum of (i) the Adjusted Eurodollar Rate most recently determined, plus (ii) the Applicable Margin, times (b) the Aggregate Receivables Balance at such time, times (c) 30/360.
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Required Interest Reserve Amount means, as of any Payment Date, an amount equal to the amount of interest on the Notes due and payable on such Payment Date in respect of the related Interest Accrual Period with respect to such Payment Date.
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Required Interest Reserve Amount means, as of any determination date, an amount equal to (i) the Annualized Loan Interest, minus (ii) the Annualized LP Unit Distributions.
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Related to Required Interest Reserve Amount

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • 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.

  • Reserve Amount means, for any Payment Date, the amount of cash or other immediately available funds in the Reserve Account on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • 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.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • 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.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • 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.

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

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

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

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.