Reserve Account Required Balance definition

Reserve Account Required Balance means for any date of determination, 0.50% of the Aggregate Loan Balance of the Borrowing Base Loans.

Reserve Account Required Balance means, for any Payment Date, (i) occurring during a Rapid Amortization Period, an amount equal to the Reserve Account Floor Amount, or (ii) occurring during a Non-Rapid Amortization Period, (a) if no Cash Accumulation Event has occurred and is continuing, an amount equal to 1.00% of the Aggregate Collateral Balance as of the last day of the related Due Period, or (b) if a Cash Accumulation Event has occurred and is continuing, an amount equal to the product of (x) the Aggregate Collateral Balance as of the last day of the related Due Period and (y) the greater of (1) 15.0% and (2) the product of (A) two and (B) the Delinquency Level for such Due Period; provided, however, that in no event will the Reserve Account Required Balance be less than the Reserve Account Floor Amount.

Reserve Account Required Balance means, for any Payment Date, the greater of (i) [***]% of the Aggregate Solar Loan Balance as of the last day of the related Collection Period and (ii) the Reserve Account Floor Amount. On and after the Payment Date on which the Aggregate Outstanding Note Balance of the Notes has been reduced to zero, the Reserve Account Required Balance will be equal to zero.

Examples of Reserve Account Required Balance in a sentence

• If at any time a Letter of Credit is held by the Paying Agent as an asset of the Liquidity Reserve Account, the stated amount of the Letter of Credit may be reduced from time to time, to the extent of any reduction in the dollar amount of the Liquidity Reserve Account Required Balance.

• If amounts on deposit in the General Reserve Account are greater than the General Reserve Account Required Balance (after giving effect to all other distributions and disbursements on such Payment Date), the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw funds in excess of the General Reserve Account Required Balance from the General Reserve Account and disburse such amounts to the Certificate Distribution Account to be distributed in accordance with the Trust Agreement.

• In connection with the funding of each Advance, the Borrower (or the Agent, on the Borrower’s behalf, out of the proceeds of the initial Advance) shall cause to be deposited into the Liquidity Reserve Account an amount such that the amount on deposit therein is equal to the Liquidity Reserve Account Required Balance.

• The reduction shall be in the amount shown on the Monthly Servicer Report as the Liquidity Reserve Account “reductions” and the remaining stated amount of the Letter of Credit shall be equal to the Liquidity Reserve Account Required Balance “ending required amount” as shown on the Monthly Servicer Report.

• If the amount on deposit in the Reserve Account exceeds the Reserve Account Required Balance on any Payment Date during a Sequential Amortization Period, the amount of such excess will be transferred into the Collection Account and will be part of the Available Funds distributed pursuant to the Priority of Payments for such Payment Date.

More Definitions of Reserve Account Required Balance

Reserve Account Required Balance means, as of any Payment Date, an amount equal to 3.0% of the Aggregate Outstanding Principal Balance of the Notes on such date after taking into account all amounts applied to the Aggregate Outstanding Principal Balance on such date.

Reserve Account Required Balance means, as of any time of determination, an amount equal to 1.0% of the Aggregate Class A Note Principal at such time.

Reserve Account Required Balance shall have the meaning set forth in the Pricing Side Letter.

Reserve Account Required Balance means, for any Payment Date, the greater of (i) [***]% of the Aggregate Solar Loan Balance as of the last day of the related Collection Period and (ii) the Reserve Account Floor Amount. On and after the Payment Date on which the Outstanding Loan Balance has been reduced to zero, the Reserve Account Required Balance will be equal to zero.

Reserve Account Required Balance. As of any Payment Date, an amount equal to the greater of (i) $800,000 and (ii) the product of (a) 3.0% and (b) the principal balance of the Notes Outstanding as of such Payment Date (after any distributions made pursuant to Section 12.02, on such date).

Reserve Account Required Balance has the meaning specified in the related Series Supplement.

Reserve Account Required Balance means, as of any date of determination, the lesser of (i) U.S.$3,000,000 and (ii) the aggregate outstanding principal amount of, and interest on, the Loans as of such date of determination.