Reset Percentage definition

Reset Percentage shall have the meaning specified in the Servicer Letter of Credit, if any.
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Reset Percentage has the meaning set forth in Section 6.2(f)(iv).
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Examples of Reset Percentage in a sentence

  • Except as otherwise provided in the Servicer Letter of Credit, the Servicer Letter of Credit Amount shall equal the lesser of (x) the product of the Initial Servicer Letter of Credit Amount and the Reset Percentage, or (y) the Pool Balance as of the related Record Date.

  • Except as otherwise provided in the Servicer Letter of Credit, the Servicer Letter of Credit Amount shall equal the lesser of (A) the product of the Initial Servicer Letter of Credit Amount and the Reset Percentage, or (B) the Pool Balance as of the last day of the related Collection Period.

  • The Reset Percentage shall be utilized in the calculation of the monthly payment for the applicable period.

  • Except as otherwise provided in the Servicer Letter of Credit, the Servicer Letter of Credit Amount shall equal the lesser of (A) the product of the Initial Servicer Letter of Credit Amount and the Reset Percentage or (B) the Pool Balance as of the related Record Date.

  • For purposes of this Servicer Letter of Credit, the Reset Percentage on any Reset Date shall be equal to a fraction the numerator of which is the number of Receivables in the Trust at the close of business on the last day of the calendar month preceding the calendar month in which such Reset Date occurs (as evidenced by the Servicer's Certificate for such calendar month) and the denominator of which is the original number of Receivables in the Trust as of _______________.