Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

Specified Reserve Account Balance means, for any distribution date, the greater of:

Specified Reserve Account Balance. For any Distribution Date, the lesser of:

Examples of Specified Reserve Account Balance in a sentence

On each Payment Date prior to the occurrence of an Event of Default that results in the acceleration of the Notes, and as directed in writing by the Servicer, the Indenture Trustee shall release to the Seller any amounts remaining on deposit in the Reserve Account in excess of the Specified Reserve Account Balance.
On any Payment Date on which the amount on deposit in the Reserve Account is less than the Specified Reserve Account Balance, the Indenture Trustee shall, as directed in writing by the Servicer in accordance with Section 5.06(b)(vii), deposit into the Reserve Account Available Collections until the amount on deposit therein equals the Specified Reserve Account Balance.
The Servicer shall determine the Specified Reserve Account Balance for each Payment Date.
As, and to the extent, set forth in Section 5.06(c), the Relevant Trustee will deposit Available Amounts into the Reserve Account on each Distribution Date as provided in the Servicer’s Certificate, until the amount on deposit therein equals the Specified Reserve Account Balance.
Specified Reserve Account Balance$ 2,222,166.00Actual Reserve Account Balance$ 2,222,166.00B.

More Definitions of Specified Reserve Account Balance

Specified Reserve Account Balance means, as of the Closing Date, $2,577,336.39, and for any Payment Date, the lesser of (a) $2,577,336.39 (0.25% of the Adjusted Pool Balance as of the Closing Date) and (b) the aggregate outstanding principal balance of the Notes after giving effect to all payments of principal on such Payment Date.

Specified Reserve Account Balance means, for any Payment Date, the lesser of $[ ] and the aggregate outstanding principal balance of the Notes after giving effect to all payments of principal on such Payment Date; provided, however, if:

Specified Reserve Account Balance means, except as otherwise provided in the following paragraph, with respect to any Payment Date, $10,364,584, which is 1.00% of the initial Note Value. Upon the final distribution on the Certificate, the Specified Reserve Account Balance shall be zero. The Specified Reserve Account Balance may be reduced or the definition otherwise modified without the consent of the Noteholders and the Certificateholder, provided that the Rating Agency Condition is satisfied and provided, further, that the Owner Trustee obtains an Opinion of Counsel confirming that the reduction or modification will not change the tax classification of the Notes as indebtedness, and provided, further, that the reduction of the Specified Reserve Account Balance or other modification to such definition is not prohibited by Regulation RR.

Specified Reserve Account Balance means, with respect to any Distribution Date, an amount equal to the greater of (i) 1.00% of the sum of the Outstanding Amount of the Notes and the Certificate Balance on such Distribution Date, after giving effect to all payments to be made on such date; or (ii) $1,000,000; provided, however, that such balance shall not exceed the sum of the aggregate Outstanding Amount of the Notes and the Certificate Balance.

Specified Reserve Account Balance means, for any Distribution Date, the greater of (a) ___% of the sum of the Class A Certificate Balance plus the Class B Certificate Balance on such Distribution Date (after giving effect to all payments on the Certificates to be made on or prior to such Distribution Date), and (b) the Minimum Specified Reserve Balance as of such Distribution Date.

Specified Reserve Account Balance means [STATE FORMULA].

Specified Reserve Account Balance means, for any payment date, an amount equal to 2.00% of the Pool Balance as of the cut-off date; provided, that on any payment date after the notes are no longer outstanding following payment in full of the principal of and interest on the notes, the “Specified Reserve Account Balance” shall be $0.