Examples of Specified Reserve Balance in a sentence

On the Closing Date, the Depositor will deposit or cause to be deposited the Specified Reserve Balance into the Reserve Account from the net proceeds of the sale of the Notes.
Notwithstanding any other provision of this Agreement, the use of such new formula will be deemed to be approved upon the satisfaction of the Rating Agency Condition with respect to the use of such new formula, and the Specified Reserve Balance will be determined in accordance with such new formula and this Agreement will be amended to reflect such new formula without the consent of any Noteholder.
All interest and other income (net of losses and investment expenses) on funds on deposit in the Reserve Account shall, upon the written direction of the Servicer, be paid to the Seller on any Payment Date to the extent that funds on deposit therein, as certified by the Servicer, exceed the Specified Reserve Balance.
Notwithstanding the foregoing, the Depositor may decrease the Specified Reserve Balance upon satisfaction of the Rating Agency Condition without the consent of any other party hereto or any Noteholder or Certificateholder.
Amount Necessary to Reinstate Reserve Account to Specified Reserve Balance 0.00 9.

More Definitions of Specified Reserve Balance

Specified Reserve Balance means $3,947,285.02, which is at least 0.25% of the Initial Adjusted Pool Balance.

Specified Reserve Balance means, with respect to any Payment Date, the greater of (i) 0.50% of the Initial Pool Balance and (ii) 1.25% of the Pool Balance at the end of the Collection Period preceding such Payment Date; provided, however, the Specified Reserve Balance shall be calculated using a percentage of 0.75% in (i) above and 2.50% in (ii) above, for any Payment Date on which the Average Net Loss Ratio exceeds the Average Net Loss Trigger Percentage or the Average Delinquency Ratio exceeds the Average Delinquency Trigger Percentage; provided, further, however, that such higher percentage shall remain in effect until the Average Net Loss Ratio and the Average Delinquency Ratio are equal to or less than 0.85% for at least six consecutive Collection Periods. Notwithstanding the foregoing, the Specified Reserve Balance may be reduced to a lesser amount as determined by the Seller if the Rating Agency Condition is satisfied.

Specified Reserve Balance means for a Payment Date the lesser of (a) $3,131,045.59 (0.50% of the principal balance of the Receivables as of the Cut-off Date) and (b) the sum of the aggregate principal balance of the Outstanding Notes and the principal balance of the Certificates as of the current Payment Date. However, the Specified Reserve Balance will be calculated using a percentage of 0.75% in (a) above for any Payment Date for which the Average Net Loss Ratio exceeds 1.25% or the Average Delinquency Ratio exceeds 1.25% (the "specified trigger level"). Also, that higher percentage will remain in effect until each of the Average Net Loss Ratio and the Average Delinquency Ratio is equal to or less than 1.25% for at least six consecutive Payment Dates. In no event will the Specified Reserve Balance for any Payment Date exceed the aggregate Outstanding principal balance of the Receivables at the end of the related Collection Period. The Specified Reserve Balance may be reduced to a lesser amount as determined by the Depositor, if each of Moody's and Standard & Poor's shall have confirmed in writing to the Indenture Trustee that such action will not result in a withdrawal or reduction in any of its ratings of the Securities.

Specified Reserve Balance means $16,499,999.32; provided, however, that the Specified Reserve Balance with respect to any Distribution Date shall not exceed the sum of the aggregate outstanding principal amount of all the Notes and the Aggregate Certificate Balance of all the Certificates as of the preceding Distribution Date (after giving effect to any principal payments made on the Securities on such preceding Distribution Date).

Specified Reserve Balance means, with respect to any Payment Date, the lesser of (a) 2.25% of the Adjusted Original Pool Balance and (b) the outstanding principal amount of the Notes as of such Payment Date (after giving effect to any principal payment made on such Payment Date). Notwithstanding the foregoing, if (i) each Rating Agency delivers a letter to the Indenture Trustee that the use of any new formulation requested by the Seller would not cause a downgrade, qualification or withdrawal of the then current rating on any Class of Notes, and (ii) an Opinion of Counsel to the effect that the proposed change will not adversely affect the status of the Notes as debt is delivered to the Indenture Trustee, then the Specified Reserve Balance may be changed in accordance with such letters without an amendment hereto.

Specified Reserve Balance means, $5,421,752.

Specified Reserve Balance means $ , or % of the Initial Pool Balance.