Series Reserve Required Amount definition

Series Reserve Required Amount. For each Series, the amount calculated as described in the related Indenture Supplement.
Series Reserve Required Amount means, with respect to any Funding Date, an amount equal to: (a) if there are not Non-FIFO Receivables in the Trust Estate: four (4) months’ interest calculated at the applicable Note Interest Rate on the Note Balance of each Class of Series 2016-T2 Notes (in each case, calculated using a 30/360 basis) as of such Funding Date and (b) if there are Non-FIFO Receivables in the Trust Estate: five (5) months’ interest calculated at the applicable Note Interest Rate on the Note Balance of each Class of Series 2016-T2 Notes (in each case, calculated using a 30/360 basis) as of such Funding Date.
Series Reserve Required Amount means with respect to any Payment Date or Interim Payment Date, as the case may be, for the Series 2013-VF3 Notes, an amount equal to on any Payment Date or Interim Payment Date four months’ interest calculated at the applicable Note Interest Rate on the Note Balance of the Series 2013-VF3 Notes as of such Payment Date or Interim Payment Date, as the case may be.

Examples of Series Reserve Required Amount in a sentence

  • All Collections received in the Collection and Funding Account shall be deposited into the related Series Reserve Accounts until the amount on deposit in each Series Reserve Account equals the related Series Reserve Required Amount, as described in Section 4.5 and the related Indenture Supplement.

  • On any Payment Date after payment of principal on the Notes and when no Facility Early Amortization Event has occurred, the Indenture Trustee shall withdraw from each Series Reserve Account the amount by which the balance of the Series Reserve Account exceeds the related Series Reserve Required Amount and pay such amount to the Depositor as holder of the Owner Trust Certificate.

  • On any Payment Date after payment of principal on the Notes and when no Event of Default has occurred, the Indenture Trustee shall withdraw from each Series Reserve Account the amount by which the balance of the Series Reserve Account exceeds the related Series Reserve Required Amount and pay such amount to the Depositor as holder of the Owner Trust Certificate.

  • On any Payment Date after payment of principal on the Notes and when no Event of Default has occurred and has not be waived in accordance with the terms hereof, the Indenture Trustee shall withdraw from each Series Reserve Account the amount by which the balance of the Series Reserve Account exceeds the related Series Reserve Required Amount and pay such amount to the Depositor as holder of the Owner Trust Certificate.

  • All Collections received in the Collection and Funding Account shall be deposited into the related Series Reserve Accounts until the amount on deposit in each Series Reserve Account equals the related Series Reserve Required Amount, if applicable, as described in Section 4.5 and the related Indenture Supplement.


More Definitions of Series Reserve Required Amount

Series Reserve Required Amount means with respect to any Payment Date or Interim Payment Date, as the case may be, for the Series 2020-VF1 Notes, an amount equal to on any Payment Date or Interim Payment Date four (4) month’s interest, which shall be calculated as follows: [***] times the amount equal to (i) the applicable Senior Rate, multiplied by (ii) the Note Balance of each Class of Series 2020-VF1 Notes as of such Payment Date or Interim Payment Date, as the case may be, divided by (iii) 12.
Series Reserve Required Amount means the General Reserve Required Amount with respect to the Series 2012-VF3 Notes.
Series Reserve Required Amount means, as of any Payment Date, an amount equal to on any Payment Date or any Interim Payment Date four months’ interest calculated at the applicable Note Interest Rate on the Note Balance of each Class of Series 2015-T2 Notes as of such Payment Date or Interim Payment Date, as the case may be.
Series Reserve Required Amount means with respect to any Payment Date or Interim Payment Date, as the case may be, for the Series 2013-VF2 Notes, an amount equal to on any Payment Date or Interim Payment Date four month’s interest calculated at the applicable Senior Rate on the Note Balance of each Class of Series 2013-VF2 Notes as of such Payment Date or Interim Payment Date, as the case may be.
Series Reserve Required Amount means, the Stop-Loss Cap Required Amount.
Series Reserve Required Amount means with respect to any Payment Date or Interim Payment Date, as the case may be, for the General Reserve Account applicable to the Series 2012-VF3 Notes, an amount equal to: (i) on any Payment Date or Interim Payment Date prior to the end of the related Revolving Period, four (4) months’ interest calculated on the Note Balance of each Class of Series 2012-VF3 Notes as of such Payment Date or Interim Payment Date, as the case may be; and (ii) as of any Payment Date or Interim Payment Date following the last day of the related Revolving Period, the greater of (A) two month’s interest calculated on the Note Balance of each Class of Series 2012-VF3 Notes immediately preceding the last day of the related Revolving Period, and (B) four (4) months’ interest calculated on the Note Balance as of the close of business on such Payment Date or Interim Payment Date, as the case may be. For the avoidance of doubt, reference toSeries Reserve Account” shall mean the General Reserve Account with respect to the Series 2012-VF3 Notes and “Series Reserve Required Amount” shall mean the General Reserve Required Amount with respect to the Series 2012-VF3 Notes.
Series Reserve Required Amount means with respect to any Funding Date, an amount equal to four months’ interest calculated at the applicable Note Interest Rate on the Note Balance of each Class of Series 2014-VF2 Notes (in each case, calculated using a 30/360 basis) as of such Funding Date.