Spread Account Draw Amount definition
Spread Account Draw Amount means, for any Determination Date, the amount, after taking into account the application on the Distribution Date of Available Funds for the related Collection Period, equal to any shortfall in the payment of amounts described in clauses (i) through (vii) of Section 5.7(a).
Spread Account Draw Amount shall have the meaning specified in -------------------------- Section 4.12(c).
Spread Account Draw Amount. With respect to each Distribution Date, the -------------------------- lesser of (a) all amounts on deposit in the Spread Account immediately prior to such Distribution Date and (b) the amount, if any, by which the aggregate amount distributable pursuant to paragraphs (a)(i), (ii) and (iii) of Section 5.02 exceeds the sum of (i) the Available Distribution Amount for such Distribution Date and (ii) the Class A-3 Holdover Amount for such Distribution Date.
Examples of Spread Account Draw Amount in a sentence
In the event that the difference between (x) the Class A Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is greater than zero (the "Spread Account Draw Amount"), the Servicer shall give written notice to the Trustee of such positive Class A Required Amount on the date of computation.
More Definitions of Spread Account Draw Amount
Spread Account Draw Amount shall have the meaning specified in Section 4.04.
Spread Account Draw Amount means, for any Determination Date, the amount, after taking into account the application on the Distribution Date of Available Funds for the related Collection Period, equal to any shortfall in the payment of amounts described in clauses (i) through (vi) of Section 5.7(a). "Spread Account Initial Deposit" means $19,688,327.89.
Spread Account Draw Amount. As defined in Section 5.3.