Reserve Account Floor Amount definition

Reserve Account Floor Amount means, for any Payment Date, an amount equal to the lesser of (i) 0.25% of the aggregate Initial Note Balance of each Class of Notes and (ii) 50% of the Aggregate Outstanding Note Balance on such Payment Date prior to taking into account any distributions of principal on such Payment Date.
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Reserve Account Floor Amount means the product of [***]% and the Aggregate Outstanding Note Balance as of the Closing Date.
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Reserve Account Floor Amount means the lesser of (i) 0.25% of the Initial Principal Amount of the Notes and (ii) 50% of the Principal Amount of the Notes on such Payment Date before taking into account any distributions of principal to Noteholders on such Payment Date.
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Examples of Reserve Account Floor Amount in a sentence

  • As described in the Priority of Payments, to the extent of Available Funds, the Indenture Trustee shall, on each Payment Date, deposit Available Funds into the Liquidity Reserve Account until the amount on deposit therein shall equal the Liquidity Reserve Account Floor Amount.

  • Based on the Quarterly Transaction Report, if the amount on deposit in the Liquidity Reserve Account exceeds the Liquidity Reserve Account Floor Amount on any Payment Date during an Early Amortization Period or Sequential Interest Amortization Period, the amount of such excess will be transferred to the Collection Account and will be part of the Available Funds distributed pursuant to the Priority of Payments.

  • On the Closing Date, the Issuer shall deposit or cause to be deposited an amount equal to the Liquidity Reserve Account Floor Amount into the Liquidity Reserve Account.


More Definitions of Reserve Account Floor Amount

Reserve Account Floor Amount means $_____________. "RESERVE ACCOUNT INCREASE PERCENTAGE" means ___%.
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Reserve Account Floor Amount means the product of [***]% and the initial aggregate outstanding balance of the outstanding ABS Notes.
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Reserve Account Floor Amount. $250,000.00.
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Reserve Account Floor Amount means the product of 0.10% and the Aggregate Outstanding Note Balance as of the Closing Date.
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Reserve Account Floor Amount means $__________. ---------------------------- "Reserve Account Increase Percentage" means ___%. -----------------------------------
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Related to Reserve Account Floor Amount

  • 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.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • 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.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.