Required Subordinated Percentage definition
Required Subordinated Percentage means, as of any date of determination, the greater of (i) 15% and (ii) the Required Reserves Ratio as of such day; provided, however, that, during any period during which the Revolving Credit Lenders (or the administrative agent under the Revolving Credit Agreement on their behalf) have given notice to the Revolving Credit Borrowers that the Revolving Credit Lenders are refusing to lend to such Borrowers under the Revolving Credit Agreement, then the Enhancement Provider may, in its sole discretion, require the Required Subordinated Percentage to equal the sum of (A) the Required Subordinated Percentage computed as described above and (B) 8%.
Required Subordinated Percentage means, as of any date of determination, the greater of (i) the Minimum Subordinated Percentage and (ii) the Required Reserves Ratio as of such day.
Required Subordinated Percentage means, as of any date of determination, the greater of (a) 15% and (b) the Required Reserves Ratio as of such day; provided that, during any period during which the Revolving Credit Lenders (or the administrative agent under the Revolving Credit Agreement on their behalf) have given notice to the Revolving Credit Borrowers that the Revolving Credit Lenders are refusing to lend to such Borrowers under the Revolving Credit Agreement, then the Enhancement Provider may, in its sole discretion, require the Required Subordinated Percentage to equal the sum of (i) the Required Subordinated Percentage computed as described above and (ii) 8%. "Revolving Period" shall mean the period commencing on the Issuance Date and terminating on the earliest to occur of (i) the close of business on the date on which an Early Amortization Event occurs, (ii) the Optional Termination Date and (iii) the Scheduled Termination Date.
Examples of Required Subordinated Percentage in a sentence
Among all Tranches of the Prefunding Class, the “Prefunding Tranche” is, if only one Tranche has the largest Required Subordinated Percentage of the Determinant Class of Notes, such Tranche, and if more than one Tranche shares the largest Required Subordinated Percentage of the Determinant Class of Notes, each such Tranche.
On any date, the Issuer may increase the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case, for the Class B(2002-_) Notes without the consent of any Noteholders or the Rating Agencies.
Adjustments to Required Subordinated Percentage and Amount 10 Section 2.03.