Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to (x) the Pool Balance as of the end of the prior calendar month minus (y) the excess of (i) 14.75% of the Pool Balance as of the end of the prior calendar month over (ii) the Specified Reserve Balance.
Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to the product of (x) the difference between (i) 100% and (ii) the “Overcollateralization Amount” (as defined in the Spread Account Agreement), as the same may step down over time in accordance with the terms of the Spread Account Agreement (which difference will initially equal 83.5%) and (y) the Pool Balance as of the end of the prior calendar month.
Required Pro Forma Note Balance means, with respect to any Payment Date, a dollar amount equal to the difference of (i) the Aggregate Securitization Value as of the end of the related Collection Period, minus (ii) 10.75% of the Aggregate Securitization Value as of the Cutoff Date.
Examples of Required Pro Forma Note Balance in a sentence
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Required Pro Forma Note Balance 1,149,985,393 ---------------- C.
Required Pro Forma Note Balance 800,354,897 --------------------- C.
More Definitions of Required Pro Forma Note Balance
Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to the product of (x) 91% and (y) the Pool Balance as of the end of the prior calendar month.
Required Pro Forma Note Balance means, for any Payment Date, (1) on or prior to the payment in full of the Class A-2 Notes, a dollar amount equal to the difference of (i) the Aggregate Securitization Value at the close of business on the last day of the related Collection Period minus (ii) 10.50% of the initial Aggregate Securitization Value, and (2) after the Payment Date on which the Class A-2 Notes have been paid in full, a dollar amount equal to the difference of (i) the Aggregate Securitization Value at the close of business on the last day of the related Collection Period minus (ii) 9.50% of the initial Aggregate Securitization Value; provided, that, if the resulting value is less than $0, the “Required Pro Forma Note Balance” will be deemed to equal $0.
Required Pro Forma Note Balance means, with respect to any Payment Date, (i) on or prior to the payment in full of the Class A-2 Notes, a dollar amount equal to the difference of (a) the Aggregate Securitization Value as of the end of the related Collection Period, minus (b) 11.00% of the Aggregate Securitization Value as of the Cutoff Date, and (ii) after the payment date on which the Class A-2 Notes have been paid in full, a dollar amount equal to the difference of (x) the Aggregate Securitization Value as of the end of the related Collection Period, minus (y) 10.00% of the Aggregate Securitization Value as of the Cutoff Date provided that, if no Class A-2-B Notes are issued, the “Required Pro Forma Note Balance” will mean, for any payment date, a dollar amount equal to the difference of (i) the Aggregate Securitization Value at the close of business on the last day of the related collection period minus (ii) 10.00% of the initial Aggregate Securitization Value.
Required Pro Forma Note Balance means, with respect to any Payment Date, (i) on or prior to the payment in full of the Class A-2 Notes, a dollar amount equal to the difference of (a) the Aggregate Securitization Value as of the end of the related Collection Period, minus (b) 11.00% of the Aggregate Securitization Value as of the Cutoff Date, and (ii) after the payment date on which the Class A-2 Notes have been paid in full, a dollar amount equal to the difference of (x) the Aggregate Securitization Value as of the end of the related Collection Period, minus (y) 10.00% of the Aggregate Securitization Value as of the Cutoff Date; provided, that, if the resulting value is less than $0, the “Required Pro Forma Note Balance” will be deemed to equal $0.
Required Pro Forma Note Balance has the meaning set forth in the Fee Letter.
Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to the lesser of (A) at any time before a repurchase of Receivables pursuant to Section 10.2 hereof, the product of (x) the Required Pro Forma Note Balance Percentage times (y) the Pool Balance (less the Aggregate Principal Balance of Receivables with respect to which part or all of the contractual payments is 90 days or more past due as of the related Determination Date) as of the end of the prior Collection Period (B) at all times after a repurchase of Receivables pursuant to Section 10.2 hereof, (x) the product of (I) the Required Pro Forma Note Balance Percentage times (II) the Pool Balance (less the Aggregate Principal Balance of Receivables with respect to which part or all of the contractual payments is 90 days or more past due as of the related Determination Date) as of the end of the prior Collection Period minus (y) $4,013,334, and (C) (x) the Pool Balance (less the aggregate Principal Balance of Receivables with respect to which part or all of the contractual payments is 90 days or more past due as of the related Determination Date) as of the related Determination Date minus (y) the Overcollateralization Floor.
Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to the lesser of (A) the product of (x) the Required Pro Forma Note Balance Percentage times (y) the Pool Balance (less the Aggregate Principal Balance of Receivables with respect to which part or all of the contractual payments is 90 days or more past due as of the related Determination Date) as of the end of the prior Collection Period and (B) (x) the Pool Balance (less the aggregate Principal Balance of Receivables with respect to which part or all of the contractual payments is 90 days or more past due as of the related Determination Date) as of the related Determination Date minus (y) the Overcollateralization Floor.