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.

Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date); provided, further that, if pursuant to Section 9.01 of the Sale and Servicing Agreement, all amounts on deposit in the Reserve Account on such Payment Date are transferred from the Reserve Account to the Collection Account and applied to make payments pursuant to Section 5.05(b) of the Sale and Servicing Agreement, the Reserve Account Required Amount shall be $0 for such Payment Date.

Examples of Reserve Account Required Amount in a sentence

From time to time after the date hereof, the Servicer may notify each Rating Agency that it wishes to apply a formula for determining the Target Overcollateralization Amount or the Reserve Account Required Amount that is different from the formula described in the related definition, or change the manner by which the Reserve Account is funded.
Any funds in the Current Spread Reserve Account in excess of the Current Spread Reserve Account Required Amount shall be released to Seller.
On each Distribution Date upon which a Current Spread Reserve Account Deposit Event has occurred and is continuing, Seller shall be required to transfer funds in the Third Party Controlled Current Spread Custodial Account to the Current Spread Reserve Account in accordance with the Priority of Payments until the amount of funds in the Current Spread Reserve Account is equal to the Current Spread Reserve Account Required Amount.
This risk is mitigated by (i) the requirement to credit to the Reserve Account an amount equal to the Reserve Account Required Amount, (ii) the Excess Margin and (ii) the revenues of the Mortgage Receivables that have been purchased with the (partial) proceeds of the Subordinated Loan.
The proceeds of the Subordinated Loan will be used to (i) pay part of the Initial Purchase Price and (ii) credit the Reserve Account up to the Reserve Account Required Amount.

More Definitions of Reserve Account Required Amount

Reserve Account Required Amount means (a) on the Closing Date, the Reserve Account Initial Deposit and (b) with respect to any Payment Date, an amount equal to the lesser of $3,205,128.21 and the aggregate Outstanding Amount of the Notes.

Reserve Account Required Amount. “Senior Interest” or “Subordinate Interest”.

Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) $[ ] (i.e., [ ]% of the Cutoff Date Pool Balance) and (ii) the Note Balance.

Reserve Account Required Amount. The lesser of $6,034,494.77 and the Outstanding Amount of the Notes.

Reserve Account Required Amount means, with respect to the Closing Date and any Payment Date, an amount equal to $1,685,408.25.

Reserve Account Required Amount means, as of each Distribution Date occurring prior to the Amended and Restated Closing Date, the amount necessary to pay projected Expenses and Debt Service for the following twelve (12) month period, as determined by the Administrative Agent in its reasonable discretion.