Senior Expenses Cap means, in respect of each Due Period, €200,000 plus 0.07 per cent. per annum (calculated semi-annually on the basis of a 360-day year and the actual number of days elapsed in such Due Period) of the Aggregate Collateral Balance as at the Determination Date immediately preceding the Payment Date in respect of such Due Period.
Senior Expenses Cap means in respect of each Due Period, €150,000 plus an amount equal to 0.025 per cent of the Aggregate Collateral Balance on the first day of such Due Period.
Examples of Senior Expenses Cap in a sentence
Any such payments shall be paid to the Account Bank from Interest Proceeds, without regard to the Priorities of Payment and shall not be subject to the Senior Expenses Cap and may, accordingly, have a negative impact on the amounts available to the Issuer to apply as payments on the Notes.
Whether or not internal energy can be converted into kinetic energy in this way is not established, even less whether the internal energy would be converted with the same efficiency as the energy input from orbital decay.
In each case, any such payment of Refinancing Costs shall be made in accordance with and subject to the Conditions (including the Senior Expenses Cap).
Should the payment amount of such sanction exceed the Senior Expenses Cap in any period, payment in full will be subject to the Issuer making such payment in accordance with the priority of payments and after all amounts due on the Rated Notes have been paid.
Should the amount of the sanction or penalty exceed the Senior Expenses Cap in any period, payment in full will be subject to the Issuer making such payment in accordance with the priority of payments and after all amounts due on the Rated Notes have been paid.
More Definitions of Senior Expenses Cap
Senior Expenses Cap means, for each Cap Annual Period, £150,000 per annum as at the Note Calculation Date immediately preceding the applicable Annual Anniversary Date or, in the case of the first Cap Annual Period, the Issue Date; and
Senior Expenses Cap means, in respect of each Due Period, £400,000 or such higher amount as determined by the Investment Managers, acting reasonably, is necessary in order to reflect increased expenses.
Senior Expenses Cap means, in respect of each Due Period, €215,000 plus 0.0610 per cent. per annum of the Aggregate Collateral Balance as at the Determination Date immediately preceding the Payment Date in respect of such Due Period.
Senior Expenses Cap means, in respect of each Payment Date, the sum of (i) 2.5bps per annum (pro-rated for the Due Period for the first Payment Date on the basis of a 360-day year and the actual number of days elapsed in such Due Period and thereafter on the basis of a 360-day year comprised of twelve 30-day months with each anniversary of the first Payment Date being the start of such 360-day year) multiplied by the Collateral Principal Amount; and (ii) US$250,000 per annum (pro-rated for the Due Period for the first Payment Date on the basis of a 360-day year and the actual number of days elapsed in such Due Period and thereafter on the basis of a 360-day year comprised of twelve 30-day months with each anniversary of the first Payment Date being the start of such 360-day year).
Senior Expenses Cap means, in respect of each Due Period, €200,000 plus 0.07 per cent. per annum (calculated quarterly on the basis of a 360 day year and the actual number of days elapsed in such Due Period) of the Aggregate Collateral Balance as at the Determination Date immediately preceding the Payment Date in respect of such Due Period, provided that if further or additional Notes are issued (pursuant to Condition 17 (Additional Issuances) or otherwise) during a Due Period, the Senior Expenses Cap shall be determined by reference to an amount equal to the sum of (i) the Aggregate Collateral Balance on the first day of such Due Period multiplied by a fraction equal to (a) the number of days from and including the first day of such Due Period to but excluding the day on which such further or additional Notes were issued divided by (b) the total number of days in such Due Period and (ii) the Aggregate Collateral Balance as at the date on which such further or additional Notes were issued multiplied by a fraction equal to (a) the number of days from and including the date on which such further or additional Notes were issued to but excluding the last day of such Due Period divided by (b) the total number of days in such Due Period (such calculation to be expanded accordingly to reflect more than a single issuance of further or additional Notes during a Due Period).
Senior Expenses Cap means (i) €125,000 in respect of the first Due Period and (ii) thereafter €62,500 in respect of each Due Period plus in each case the sum of (a) 0.02 per cent. per annum (calculated on each Determination Date on the basis of a 360-day year and the actual number of days elapsed in such Due Period) of the Aggregate Collateral Balance (where for such purpose the Aggregate Collateral Balance shall be determined with respect to the EOS Portfolio only (including all receipts and Distributions received by the Issuer, attributable to the EOS Portfolio and standing to the credit of any Account) as at each relevant Determination Date), as at the Determination Date immediately preceding the Payment Date in respect of such Due Period and (b) any amount by which the Trustee Fee Cap exceeds the Trustee Fees and Expenses due and payable in such Due Period, if at all, provided that this cap shall not apply to any Administrative Expenses which are upfront expenses of the Issuer incurred in relation to the issuance of the Notes to be paid out of the amount of approximately€3,750,000 deposited in the Expense Reserve Account pursuant to Condition 3(l)(iii) (Expense Reserve Account) paragraph (A).
Senior Expenses Cap means, with respect to any Payment Date, U.S.$50,000 plus 0.0025 per cent. of the Aggregate Collateral Balance as at the Determination Date immediately preceding such Payment Date in respect of the relevant Due Period, minus the sum of all Trustee Fees and Expenses and Administrative Expenses previously paid by the Issuer during such Due Period out of the Expense Account.