Required Spread Amount means, on each Payment Date, the Required Cash Floor; provided, that on or after the first Payment Date on which the Excess Yield Requirement (as defined in the Insurance Agreement) has not been met, the Required Spread Amount shall be the greater of (a) the Required Cash Floor then in effect and (b) (i) ________% of the Pool Balance as of the end of the Collection Period related to the current Payment Date less (ii)
Required Spread Amount means on each Distribution Date, 1.25% of the Initial Certificate Balance; provided, that on any Distribution Date on which (or after the first Distribution Date on which) the Excess Yield Requirement is not met, the Required Spread Amount shall be equal to 5% of the Certificate Balance (after giving effect to any payment of Monthly Principal on such Distribution Date); and provided further that upon and during the continuance of an Event of Default or a Trigger Event, the Required Spread Amount shall be equal to the Surety Bond Amount as of such Distribution Date after giving effect to any draws on the Surety Bond, draws on the Spread Account and other distributions pursuant to Section 9.04 on such Distribution Date.
Required Spread Amount means on each Payment Date, the lesser of (x) _____% of the Initial Note Balances and (y) the Note Balances as of the previous Payment Date (after giving effect to any payment of Monthly Principal on such Payment Date); provided, that, upon and during the continuance of an Indenture Default or a Trigger Event, the Required Spread Amount shall be equal to the Policy Amount as of such Payment Date, without giving effect to amounts on deposit in the related Spread Account, after giving effect to any draws on the Policy, draws on the related Spread Account and other distributions pursuant to Section 8.04 on such Payment Date. Once such Indenture Default or Trigger Event has been cured or discontinued, the Required Spread Amount shall be determined as set forth above.
Examples of Required Spread Amount in a sentence
For purposes of determining the availability of funds or the balance in the Spread Account for any reason under this Agreement, investment earnings on such funds shall be deemed to be available or on deposit only to the extent that the aggregate of such amounts, plus the funds on deposit in the Spread Account, do not exceed the Required Spread Amount.
Berry (1992) ensures the existence of an equilibrium in a model of entry by assuming that the value of participating in the market decreases with the number of entrants and that the value of not participating is zero.
Once such Event of Default or Trigger Event has been cured or discontinued, the Required Spread Amount shall be determined as otherwise set forth above.
Notwithstanding the foregoing, upon and during the continuance of an Event of Default or a Trigger Event, the Required Spread Amount shall be equal to the Policy Amount as of such Payment Date, without giving effect to amounts on deposit in the Spread Account, after giving effect to any draws on the Policy, draws on the Spread Account and other distributions pursuant to Section 9.04 on such Payment Date.
For purposes of determining the availability of funds or the balance in any Spread Account for any reason under this Indenture, investment earnings on such funds shall be deemed to be available or on deposit only to the extent that the aggregate of such amounts, plus the funds on deposit in such Spread Account, do not exceed the related Required Spread Amount.
More Definitions of Required Spread Amount
Required Spread Amount means, on each Payment Date, the Required Cash Floor; provided, that on or after the first Payment Date on which the Excess Yield Requirement (as defined in the Insurance Agreement) has not been met, the Required Spread Amount shall be the greater of (a) the Required Cash Floor then in effect and (b) 5.00% of the Note Balances as of the end of the Collection Period related to the current Payment Date. Notwithstanding the foregoing, upon and during the continuance of an Event of Default or a Trigger Event, the Required Spread Amount shall be equal to the Policy Amount as of such Payment Date, without giving effect to amounts on deposit in the Spread Account, after giving effect to any draws on the Policy, draws on the Spread Account and other distributions pursuant to Section 9.04 on such Payment Date. Once such Event of Default or Trigger Event has been cured or discontinued, the Required Spread Amount shall be determined as otherwise set forth above.
Required Spread Amount means on each Distribution Date, the lesser of (x) 1.50% of the Initial Certificate Balance and (y) the Certificate Balance as of the previous Distribution Date (after giving effect to any payment of Monthly Principal on such Distribution Date); provided, that on any Distribution Date on which (or after the first Distribution Date on which) the Excess Yield Requirement is not met, the Required Spread Amount shall be increased, if greater than the amounts provided above, to 4.50% of the Certificate Balance (after giving effect to any payment of Monthly Principal on such Distribution Date). On any Distribution Date following such first Distribution Date on which the Excess Yield Requirement is not met, the Required Spread Amount shall be reduced below 4.50% of the Certificate Balance (if such amount is the applicable Required Spread Amount) beginning on the eighteenth (18th) Distribution Date, as follows:
Required Spread Amount means on each Distribution Date, 1.25% of the Initial Certificate Balance (after giving effect to any payment of Monthly Principal on such Distribution Date); provided, that on any Distribution Date on which (or after the first Distribution Date on which) the Excess Yield Requirement is not met, the Required Spread Amount shall be equal to 5% of the Certificate Balance (after giving effect to any payment of Monthly Principal on such Distribution Date); and provided further that upon and during the continuance of an Event of Default or a Trigger Event, the Required Spread Amount shall be equal to the Surety Bond Amount as of such Distribution Date after giving effect to any draws on the Surety Bonds, draws on the Spread Account and other distributions pursuant to Section 9.04 on such Distribution Date.
Required Spread Amount means on each Distribution Date, 1.25% of the Initial Certificate Balance; provided, that on any Distribution Date on which (or after the first Distribution Date on which) the Excess Yield Requirement is not met, the Required Spread Amount shall be equal to 6.5% of the Certificate Balance (after giving effect to any payment of Monthly Principal on such Distribution Date). On any Distribution Date following such first Distribution Date on which the Excess Yield Requirement is not met, the Required Spread Amount shall be reduced below 6.5% beginning on the twelfth Distribution Date, as follows:
Required Spread Amount means on each Payment Date, the lesser of (x) __% of the Initial Note Balances and (y) the Note Balances as of the previous Distribution Date (after giving effect to any payment of Monthly Principal on such Payment Date); provided, that on any Payment Date on which (or after the first Payment Date on which) the Excess Yield Requirement is not met, the Required Spread Amount shall be increased, if greater than the amounts provided above, to __% of the Note Balances (after giving effect to any payment of Monthly Principal on such Payment Date). On any Payment Date following such first Payment Date on which the Excess Yield Requirement is not met, the Required Spread Amount shall be reduced below __% of the Note Balances (if such amount is the applicable Required Spread Amount) beginning on the [eighteenth (18th)] Payment Date, as follows:
Required Spread Amount means, on each Distribution Date, _____% of the Certificate Principal Balance (after giving effect to any payment of Monthly Principal on such Distribution Date) but not less than $__________; provided, however, that in no event will the Required Spread Amount be greater than the Certificate Principal Balance.
Required Spread Amount. With respect to any Series of Notes and each Distribution Date, an amount equal to the lesser of (i) the applicable Spread Account Amount and (ii) the Outstanding Amount of such Series of Notes; provided, however, upon and during the continuance of an Event of Default with respect to such Series or a Trigger Event with respect to such Series, the Required Spread Amount for such Series shall be equal to the Policy Amount for such Series as of such Distribution Date, without giving effect to amounts on deposit in the Spread Account, after giving effect to any draws on the Policy, draws on the Spread Account with respect to such Series and other distributions for such Series pursuant to Section 3.1 on such Distribution Date. Once such Event of Default with respect to such Series or Trigger Event with respect to such Series has been cured or discontinued, the Required Spread Amount for such Series shall be determined as otherwise set forth above. Responsible Officer: (i) With respect to the Indenture Trustee, any officer within the Indenture Trustee Office of the Indenture Trustee, including any managing director, vice president, assistant vice president, assistant treasurer, assistant secretary, or any other officer of the Indenture Trustee customarily performing functions similar to those performed by any of the above designated officers and (ii) when used with respect to any other Person that is not an individual, the president, any vice president or assistant vice president or the controller of such Person, or any other officer or employee having similar functions.