Spread Account Claim Amount definition
Spread Account Claim Amount has the meaning set forth in Section 1.1 of the Sale and Servicing Agreement.
Spread Account Claim Amount means with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount equal to any shortfall in the payment of the full amounts described in clauses (i) through (v) of Section 5.7(b) herein.
Spread Account Claim Amount means with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount equal to the sum of, without duplication, (i) any shortfall in the payment of the full amounts described in clauses (i) through (iv) of Section 5.7(b) herein, (ii) the Noteholders’ Parity Deficit Amount, if any, for such Distribution Date and (iii) if the related Distribution Date is the Final Scheduled Distribution Date of any Class, any remaining outstanding principal balance of such Class, to the extent that such amount is available on the related Distribution Date in accordance with the terms of the Spread Account Agreement; provided, however, that following an acceleration of the Notes pursuant to Section 5.2 of the Indenture, the Spread Account Claim Amount shall equal the excess, if any, of (i) the amounts payable pursuant to priorities First through Fourth of Section 5.6(a) of the Indenture on the Distribution Date minus (ii) the Available Funds for such Distribution Date, to the extent that such amounts are available on the related Distribution Date in accordance with the terms of the Spread Account Agreement.
Examples of Spread Account Claim Amount in a sentence
Such Deficiency Notice shall direct the Collateral Agent to remit such Spread Account Claim Amount (to the extent of the funds available to be distributed pursuant to the Spread Account Agreement) to the Trust Collateral Agent for deposit in the Collection Account on the related Distribution Date.
On such Distribution Date, the Collateral Agent shall deliver a certificate to the Trust Collateral Agent and the Insurer with respect to any Deficiency Notice, stating the amount, if any, to be distributed to the Trust Collateral Agent on that Distribution Date in respect of such Spread Account Claim Amount.
On such Distribution Date, the Collateral Agent shall deliver a certificate to the Trust Collateral Agent and the Insurer with respect to any Deficiency Notice and any Accelerated Payment Shortfall Notice, stating the amount, if any, to be distributed to the Trust Collateral Agent on that Distribution Date in respect of such Accelerated Payment Shortfall Amount and in respect of such Spread Account Claim Amount.
More Definitions of Spread Account Claim Amount
Spread Account Claim Amount means with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount equal to the sum of, without duplication, (i) any shortfall in the payment of the full amounts described in clauses (i) through (v) of Section 5.7(a) herein, (ii) the Noteholders’ Parity Deficit Amount, if any, for such Distribution Date and (iii) if the related Distribution Date is the Final Scheduled Distribution Date of any Class, any remaining outstanding principal balance of such Class, to the extent that such amount is available on the related Distribution Date in accordance with the terms of the Spread Account Agreement, provided, however, that following an acceleration of the Notes pursuant to Section 5.2 of the Indenture, the Spread Account Claim Amount shall equal the excess, if any, of (A) the sum of the amounts payable pursuant to priorities (i) through (vi) and (x) of Section 5.7(a) of the Sale and Servicing Agreement on the Distribution Date, over (B) Available Funds for the related Distribution Date, to the extent such amounts are available on such Distribution Date in accordance with the provisions of the Spread Account Agreement.
Spread Account Claim Amount means with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount equal to the sum of, without duplication, (i) any shortfall in the payment of the full amounts described in clauses (i) through (iv) of Section 5.7(a)[(b)] herein, (ii) the Noteholders’ Parity Deficit Amount, if any, for such Distribution Date and (iii) if the related Distribution Date is the Final Scheduled Distribution Date of any Class, any remaining outstanding principal balance of such Class, to the extent that such amount is available on the related Distribution Date in accordance with the terms of the Spread Account Agreement; provided, however, that following an acceleration of the Notes pursuant to Section 5.2 of the Indenture, the Spread Account Claim Amount shall equal the excess, if any, of (i) the amounts payable pursuant to priorities First through Fourth of Section 5.6(a) of the Indenture on the Distribution Date minus (ii) the Available Funds for such Distribution Date, to the extent that such amounts are available on the related Distribution Date in accordance with the terms of the Spread Account Agreement.
Spread Account Claim Amount means for any distribution date, the positive excess, if any, of (i) the amounts described in clauses (i) through (vii) of Section 5.7(a) hereof (excluding the Noteholders' Principal Distributable Amount on each class on each distribution date other than the final scheduled distribution date for that class), minus (ii) Available Funds for such distribution date, to the extent that such amounts are available on the related distribution date according to the provisions governing the Spread Account.