Reserve Required Amount means (i) so long as no Amortization Event has occurred, as of any date an amount equal to the sum of (x) 2.0% of the Aggregate Loan Balance on such date and (y) an amount equal to the sum of the Green Loan Reserve Percentage of the Loan Balance for each Pledged Loan which is a Green Loan multiplied by the applicable Advance Rate on such date, and (ii) on and after the first Payment Date following the occurrence of an Amortization Event, the lesser of (x) 0.25% of the Notes Principal Amount as of the date on which the Amortization Event occurred and (y) 50% of the Notes Principal Amount as of such Payment Date before taking into account any distributions of principal on such Payment Date.
Reserve Required Amount means (a) as of the Closing Date, 1.0% of the Aggregate Loan Balance as of the Cut-Off Date, and (b) at any time after the Closing Date, (i) if no Cash Accumulation Event has occurred and is continuing 2.0% of the Aggregate Loan Balance at such time; and (ii) if a Cash Accumulation Event has occurred and is continuing, the product of (A) the Aggregate Loan Balance as of the last day of the immediately preceding Due Period and (B) the greater of (x) 10.0% or (y) 2 times the Delinquency Ratio for such Due Period; provided that in no event will the Reserve Required Amount be less than 0.50% of the Aggregate Loan Balance as of the Cut-Off Date; provided further, that in no event will the Reserve Required Amount be greater than the Aggregate Principal Amount.
Reserve Required Amount means (a) as of the Closing Date, 1.0% of the Aggregate Loan Balance as of the Cut-Off Date, and (b) at any time after the Closing Date, (i) if no Cash Accumulation Event has occurred and is continuing 2.0% of the Aggregate Loan Balance at such time; and (ii) if a Cash Accumulation Event has occurred and is continuing, the product of (A) the Aggregate Loan Balance as of the last day of the immediately preceding Due Period and (B) the greater of (x) 10% or (y) 2 times the Delinquency Ratio for such Due Period; provided that in no event will the Reserve Required Amount be less than 0.50% of the Aggregate Loan Balance as of the Cut-Off Date; provided further, that in no event will the Reserve Required Amount be greater than the Aggregate Principal Amount.
Examples of Reserve Required Amount in a sentence
AFGS will on the Closing Date, deposit into the Extraordinary Expense Reserve an amount equal to the Extraordinary Expense Reserve Required Amount on that day.
The Issuer may from time to time in its discretion allocate any amount of Excess Spread to the Cash Reserve such that the Cash Reserve Required Amount may be exceeded from time to time.
If the Arrears Reserve is not funded at the Arrears Reserve Required Amount for 2 consecutive Interest Payment Dates, the Revolving Period and the Tap Issue Period shall terminate.
If the Cash Reserve is not funded at the Cash Reserve Required Amount for 2 consecutive Interest Payment Dates, the Revolving Period and the Tap Issue Period shall terminate.
If at any time the amount standing to the credit of the Cash Reserve exceeds the Cash Reserve Required Amount, the amount of such excess may be released and debited from the Cash Reserve and credited to the Transaction Account for application in accordance with the Pre-Enforcement Priority of Payments.
More Definitions of Reserve Required Amount
Reserve Required Amount means, for any Payment Date when a Rapid Amortization Period is not in effect, (i) if no Cash Accumulation Event has occurred and is continuing, (a) prior to, and including, the September 2010 Payment Date, 2.50% of the Aggregate Loan Balance as of the last day of the related Due Period or (b) after the September 2010 Payment Date, 1.00% of the Aggregate Loan Balance as of the last day of the related Due Period, and (ii) if a Cash Accumulation Event has occurred and is continuing, the product of (A) the Aggregate Loan Balance as of the last day of the related Due Period and (B) the greater of (x) 10.0% or (y) 2 times the Delinquency Ratio for such Due Period; provided that in no event will the Reserve Required Amount be less than the Reserve Account Floor Amount. For any Payment Date when Rapid Amortization Period is in effect, the Reserve Required Amount shall mean an amount equal to the Reserve Account Floor Amount.
Reserve Required Amount means (i) so long as no Amortization Event has occurred, as of any date an amount equal to the greater of (x) 2.0% of the Aggregate Loan Balance on such date and (y) the most recently reported Estimated Fees, plus, in either case (A) the sum of (1) $150,000 related to any indemnification of the Trustee pursuant to Section 13.5 and (2) $375,000, and (B) an amount equal to the sum of the Green Loan Reserve Percentage of the Loan Balance for each Pledged Loan which is a Green Loan multiplied by the applicable Advance Rate on such date, and (ii) on and after the first Payment Date following the occurrence of an Amortization Event, the lesser of (x) 0.25% of the Notes Principal Amount as of the date on which the Amortization Event occurred and (y) 50% of the Notes Principal Amount as of such Payment Date before taking into account any distributions of principal on such Payment Date.
Reserve Required Amount as of the Closing Date means $8,403,837.12 and (i) thereafter so long as no Amortization Event has occurred, means as of each Payment Date an amount equal to the greater of (x) 2.0% of the Series 0000-0 Xxxxxxxxx Loan Balance as of the end of the prior Due Period or (y) the Estimated Fees, plus, in either case $150,000 related to any indemnification of the Trustee pursuant to Section 11.5 of the Agreement and (ii) from and after the first Payment Date following an Amortization Event, the Reserve Required Amount shall be $0.
Reserve Required Amount means (a) as of the Closing Date, 1.0% of the Aggregate Loan Balance as of the Cut-Off Date, and (b) at any time after the Closing Date,
Reserve Required Amount means (i) so long as no Amortization Event has occurred, as of any date an amount equal to the greater of (x) 2.0% of the Aggregate Loan Balance on such date and (y) the most recently reported Estimated Fees, plus, in either case (A) $150,000 related to any indemnification of the Trustee pursuant to Section 13.5 and (B) an amount equal to the sum of the Green Loan Reserve Percentage of the Loan Balance for each Pledged Loan which is a Green Loan multiplied by the applicable Advance Rate on such date, and (ii) on and after the first Payment Date following the occurrence of an Amortization Event, 1.00% of the Aggregate Loan Balance on such date.
Reserve Required Amount means in aggregate the amount required to be maintained as the Tax Reserve, the Insurance Reserve, the Maintenance Reserve, the HOA Reserve and the Interest Reserve.
Reserve Required Amount. An amount equal to $15,000 for every $10 million in Unpaid Principal Balance; provided, however, the maximum amount required to be on deposit in a Reserve Account shall not exceed $500,000 at any time.