Required Subordination Draw Amount definition

Required Subordination Draw Amount shall have the meaning specified in Section 4.05.
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Required Subordination Draw Amount shall be the lesser of (x) the Deficiency Amount and (y) the Available Subordinated Amount on the related Determination Date.
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Required Subordination Draw Amount shall be the lesser of (x) the Deficiency Amount and (y) either the Available Subordinated Amount or, in the event of an Early Amortization Event (other than an Early Amortization Event which has resulted in an Early Amortization Period which has ended as described in clause (c) of the definition thereof), the Aggregate Available Subordinated Amount on the related Determination Date. Following an Early Amortization Event, any Required Subordination Draw Amount shall reduce the Swap Available Subordinated Amount in its entirety before any reduction to the Available Subordinated Amount.
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Examples of Required Subordination Draw Amount in a sentence

  • The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount".

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 2000-A as described in Section 4.05(a)(vi).

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 2000-B as described in Section 4.05(a)(vi).

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 2001-A as described in Section 4.05(a)(vi).

  • If for such Distribution Date the sum of the Required Subordination Draw Amount and the aggregate of the required subordination draw amounts for all other Series outstanding exceeds the Available Seller's Collections on deposit in the Collection Account on such Distribution Date, then such Available Seller's Collections shall be allocated to such Series (including Series 1999-1) pro rata on the basis of such required subordination draw amounts (including the Required Subordination Draw Amount).

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 1999-2 as described in Section 4.05(a)(vi).

  • The lesser of the Deficiency Amount and the Series 2000-1 Available Subordinated Amount shall be the "Required Subordination Draw Amount".

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 1999-3 as described in Section 4.05(a)(vi).

  • With respect to a Payment Date and the preceding Determination Date, the lesser of the Deficiency Amount as determined by the Servicer on such Determination Date and the Series 200 _ - _ Available Subordinated Amount for such Determination Date shall be the "Required Subordination Draw Amount".

  • If the Required Subordination Draw Amount exceeds Available Seller's Collections for such Distribution Date, the Available Subordinated Amount shall be further reduced by the amount of such excess, but not by more than the sum of (x) the Investor Default Amount and (y) the amount of unpaid Adjustment Payments allocated to Series 2000-C as described in Section 4.05(a)(vi).


More Definitions of Required Subordination Draw Amount

Required Subordination Draw Amount shall have the meaning specified ---------------------------------- in Section 4.05 hereof.
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Required Subordination Draw Amount means, for a Distribution Date, the lesser of (x) the Deficiency Amount and (y) the Available Subordinated Amount for the related Determination Date.
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Required Subordination Draw Amount. [Include other sources of funds and applications of the Required Subordination Draw Amount, as appropriate.] SECTION 4.06. Application of Investor Non- Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, Investor Non-Principal Collections, Investment Proceeds[, Series [199_-_] Excess Interest Collections] and Available Investor Principal Collections [other amounts] to make the following distributions:
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Related to Required Subordination Draw Amount

  • Required Subordinated Amount means, as of a date, the sum of:

  • Subordination Reduction Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the Excess Subordinated Amount and (b) the Net Monthly Excess Cash Flow.

  • Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes for any date of determination, an amount equal to the sum of

  • Unencumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Required Subordinated Amount of Class C Notes means, for the Class B ( - ) Notes for any date of determination, an amount equal to the sum of

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Required Subordinated Amount of Class B Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Required Subordinated Percentage of Class D Notes means, for the Class A(2022-1) Notes, 10.75949368%, subject to adjustment in accordance with Section 2.02.

  • Required Subordinated Percentage of Class C Notes means, for the Class A(2022-1) Notes, 8.86075950%, subject to adjustment in accordance with Section 2.02.

  • Required Subordinated Percentage of Class B Notes means, for the Class A(2022-1) Notes, 6.96202532%, subject to adjustment in accordance with Section 2.02.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Excess Subordinated Amount With respect to any Distribution Date, the excess, if any, of (a) the Subordinated Amount on such Distribution Date over (b) the Specified Subordinated Amount for such Distribution Date.

  • Subordination Depletion Date The Distribution Date preceding the first Distribution Date on which the Class A Percentage (determined pursuant to clause (ii) of the definition thereof) equals or exceeds 100%.

  • Available Subordinated Amount if there is a Subordinate Class with respect to Class A, shall mean, on a Distribution Date, the sum of

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • 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 Amount 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 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 (ii) 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 LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Class Subordination Percentage With respect to any Distribution Date and each Class of Subordinated Certificates, the quotient (expressed as a percentage) of (a) the Class Certificate Balance of such Class of Certificates immediately prior to such Distribution Date divided by (b) the aggregate of the Class Certificate Balances immediately prior to such Distribution Date of all Classes of Certificates.

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Required Amount means, with respect to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount.

  • Excess Subordinate Principal Amount With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to Section 4.02(b)(i)(E). With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).