Required Reserve Fund Deposit. 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 Aggregate 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 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 Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.
Required Reserve Fund Deposit. With respect to the Class C Certificates and any Distribution Date, an amount equal to the lesser of (i) the Net Monthly Excess Cashflow otherwise distributable to the Class C Certificates for such Distribution Date and (ii) the amount required to bring the balance on deposit in the Basis Risk Reserve Fund to an amount equal to the Basis Risk Shortfalls for such Distribution Date with respect to the LIBOR Certificates (after giving effect to distributions pursuant to Section 5.01(k).
Required Reserve Fund Deposit. With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the excess of (i) the greater of (a) $15,000 and (b) product of 0.50% and the Aggregate Collateral Balance over (ii) the amount of funds on deposit in the Reserve Fund prior to deposits thereto on such Distribution Date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the excess of (i) $5,000 over (ii) the amount of funds on deposit in the Reserve Fund prior to deposits thereto on such Distribution Date.
Examples of Required Reserve Fund Deposit in a sentence
Any amounts on deposit in the Basis Risk Reserve Fund in excess of the Required Reserve Fund Deposit on any Distribution Date shall be distributed to the Class C Certificateholder on the following Distribution Date.
On each Distribution Date, the Trustee shall transfer from the Certificate Account to the Reserve Fund pursuant to Section 4.02(b)(iv)(J)., the Required Reserve Fund Deposit.
Any amounts on deposit in the Basis Risk Reserve Fund in excess of the Required Reserve Fund Deposit on any Distribution Date shall be distributed to the Class X Certificateholder on the following Distribution Date.
Funds remaining in the Basis Risk Reserve Fund on any Distribution Date after funding the payment of Basis Risk Shortfalls for such Distribution Date will be allocated to the Class X Certificates, up to the amount of the Required Reserve Fund Deposit for such Distribution Date.
On each Distribution Date, the Trustee shall transfer from the Certificate Account to the Reserve Fund pursuant to Section 4.02(b)(iv)(I)., the Required Reserve Fund Deposit.
More Definitions of Required Reserve Fund Deposit
Required Reserve Fund Deposit. Each of the Class X-1 Required Reserve Fund Deposit, the Class X-2 Required Reserve Fund Deposit and the Class X-B Required Reserve Fund Deposit.
Required Reserve Fund Deposit. For any Distribution Date, an amount equal to the lesser of (i) the Current Interest for the Pool 2 Component for such Distribution Date and (ii) the amount required to bring the balance on deposit in the Class X-A Pool 2 Component Sub Account up to an amount equal to the sum of (a) Net WAC Shortfalls for such Distribution Date with respect to the Class A-2 Certificates and (b) $4,500.
Required Reserve Fund Deposit. With respect to any Distribution Date, the excess, if any, of (i) $1,000 over (ii) the amount of funds on deposit in the Basis Risk Reserve Fund prior to deposits thereto on such Distribution Date.
Required Reserve Fund Deposit. With respect to the IO Component and any Distribution Date, an amount equal to the lesser of (i) the Interest Distributable Amount for the IO Component for such Distribution Date (after giving effect to such Component’s share of any Net Deferred Interest and after any reduction in the Interest Distributable Amount due to Net Interest Shortfalls on such Distribution Date) and (ii) the amount required to bring the balance on deposit in the Basis Risk Reserve Fund up to an amount equal to the greater of (a) the Basis Risk Shortfalls for such Distribution Date with respect to the Class 1-A, Class 2-A2, Class 2-A3, Class 2-A4A, Class 3-A2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates (and with respect to the Class 2-A3, Class 2-A4A, Class 2-A4B and Class 3-A2 Certificates, after distributions of payments made pursuant to the related Yield Maintenance Agreements) and (b) $1,000.
Required Reserve Fund Deposit. With respect to the Class A-X-2 IO Component and any Distribution Date, an amount equal to the lesser of (i) the amount calculated pursuant to clause (i) of the definition of Class Optimal Interest Distribution Amount for the Class A-X-2 IO Component for such Distribution Date (after reductions due to such Component's share of any Net Deferred Interest and after any reduction due to Net Interest Shortfalls on such Distribution Date) and (ii) the amount, if any, required to bring the balance on deposit in the Carryover Shortfall Reserve Fund up to an amount equal to the greater of (a) the aggregate remaining Carryover Shortfall Amount for such Distribution Date with respect to the LIBOR Certificates (after distributing amounts in the Yield Maintenance Reserve Funds to the Class 1-A-1, Class 2-A-1, Class 2-A-2A and Class 2-A-2B Certificates) and (b) $1,000.
Required Reserve Fund Deposit. With respect to the Class A-X-2 IO Component and any Distribution Date, an amount equal to the lesser of (i) the amount calculated pursuant to clause (i) of the definition of Class Optimal Interest Distribution Amount for the Class A-X-2 IO Component for such Distribution Date and (ii) the amount, if any, required to bring the balance on deposit in the Carryover Shortfall Reserve Fund up to an amount equal to the greater of (a) the aggregate remaining Carryover Shortfall Amount for such Distribution Date with respect to the Floating Rate Certificates (after distributing amounts in the Yield Maintenance Reserve Fund to the Class 2-A-1 and Class 2-A-2 Certificates) and (b) $1,000.
Required Reserve Fund Deposit. With respect to the IO Component and any Distribution Date, an amount equal to the lesser of (i) the Interest Distributable Amount for the IO Component for such Distribution Date (after giving effect to such Component’s share of any Deferred Interest and after any reduction in the Interest Distributable Amount due to Net Interest Shortfalls on such Distribution Date) and (ii) the amount required to bring the balance on deposit in the Basis Risk Reserve Fund up to an amount equal to the greater of (a) the Basis Risk Shortfalls for such Distribution Date with respect to the Class A-1A, Class X-0X, Xxxxx X-0X, Xxxxx X-0X, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates and (b) $1,000.