Required Reserve Amount definition
Required Reserve Amount means, with respect to any Payment Date, 0.25% (or such other higher percentage as may be determined by the Depositor, in its sole discretion, on or prior to the Closing Date) of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the Cutoff Date of all Receivables transferred to the Trust.
Required Reserve Amount means, with respect to any Payment Date (i) during the Revolving Period, an amount equal to $10,899,182.56 (which is approximately 1.00% of the Series Invested Amount as of the Closing Date) and (ii) during the Amortization Period, an amount equal to the amount on deposit in the Reserve Account as of the immediately preceding Payment Date, after giving effect to all deposits into and withdrawals from the Reserve Account on such immediately preceding Payment Date.
Required Reserve Amount means, (i) $__________ (i.e., ___% of the 201[__]-[__] Cutoff Date Aggregate Securitization Value) or (ii) on any Payment Date occurring on or after the date on which the Outstanding Amount of the Notes has been reduced to zero, zero; provided that the Required Reserve Amount may not be greater than the Note Balance of the Notes.
Examples of Required Reserve Amount in a sentence
As of each Closing, the Company shall have reserved from its duly authorized capital stock not less than the Required Reserve Amount (as defined below).
More Definitions of Required Reserve Amount
Required Reserve Amount the Reserve Percentage multiplied by the unpaid balance of Purchased Accounts.
Required Reserve Amount means, $5,630,794.98, which is 0.50% of the Initial Pool Balance.
Required Reserve Amount means, $3,121,143.04, which is 0.25% of the Initial Pool Balance.
Required Reserve Amount means $17,877,097.75, or approximately 1% of the Adjusted Pool Balance as of the Initial Cutoff Date.
Required Reserve Amount means the Reserve Percentage multiplied by the unpaid balance of all Purchased Accounts and as such amount may change in accordance herewith.
Required Reserve Amount has the meaning set forth in Section 6(a).
Required Reserve Amount shall have the meaning set forth in Section 9(a).