Spread Account Requirement definition

Spread Account Requirement means, with respect to the Closing Date and for any Distribution Date, a dollar amount equal to: the Spread Account Initial Deposit or, if a Spread Cap Event (as such term is defined in the Insurance Agreement) has occurred and is continuing, 3.00% of the Original Pool Balance.
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Spread Account Requirement means, with respect to the Closing Date, the Spread Account Initial Deposit and with respect to any Distribution Date thereafter, an amount equal to the greater of (x) 3.00% of the Aggregate Principal Balance at the end of the prior Collection Period and (y) 2.00% of the Original Pool Balance or, if a Spread Cap Event (as such term is defined in the Insurance Agreement) has occurred and is continuing, the greater of (a) 6.00% of the Aggregate Principal Balance at the end of the prior Collection Period and (b) 3.00% of the Original Pool Balance.
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Spread Account Requirement. As such amount may be reduced in accordance with the provisions hereof: (a) with respect to any Payment Date occurring during the period commencing on the Startup Day and ending on the last day of the Due Period with respect to the Payment Date occurring in September 2002, 2.0% of the Original Pool Balance; and (b) with respect to each Payment Date commencing on the later of September 2002 and the date on which the aggregate outstanding principal balance is less than 50% of the Original Pool Balance, the Spread Account Requirement will equal the amount that is the greatest of (i) 4.0% of the outstanding Pool Balance of the Mortgage Loans as of the last day of the most recently ended Due Period and (ii) 2.0% of the Original Pool Balance less the amount that is the product of (x) the amount (if any) by which 2.0% of the Original Pool Balance exceeds 4.0% of the outstanding Pool Balance of the Mortgage Loans as of the last day of the most recently ended Due Period and (y) a fraction, not to exceed 100%, the numerator of which is a whole number equal to the number of consecutive Payment Dates, commencing on or after September 2002, on which a Delinquency Trigger Event or a Loss Trigger Event did not occur, and the denominator of which is 3; provided, however, that upon the occurrence and continuance of a Capture Delinquency Trigger Event or a Capture Loss Trigger Event, on any Payment Date the Spread Account Requirement shall equal the Spread Account Requirement on the previous Payment Date plus the Monthly Excess Spread Amount for such Payment Date; provided further, however, that the Spread Account Requirement shall not exceed the then outstanding Pool Balance. Notwithstanding the foregoing, the minimum Spread Account Requirement shall not be less than the greater of (a) 0.50% of the Original Pool Balance and (b) the sum of the outstanding Principal Balances of the three largest Mortgage Loans.
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Examples of Spread Account Requirement in a sentence

  • The rights of the Class R Certificateholders to receive distributions in respect of the Class R Certificates shall be subject and subordinate to the preferential rights of the Class A Certificateholders to receive distributions in respect of the Class A Certificates, to the extent set forth herein, and distributions on the Class R Certificates are subject and subordinate to the maintenance of the Specified Spread Account Requirement as specified herein.

  • On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(ix) until the amount on deposit therein is equal to the Spread Account Requirement.

  • In addition, it will inform, in an appropriate format, all users of their services, and their parents or carers, that Ambitious about Autism/Ambitious about Autism Schools Trust has a duty to contact the local authorityChildren’s Social Care Department if there are concerns that a child may be being abused or neglected.

  • The rights of the Class X Certificateholders to receive distributions in respect of the Class X Certificates shall be subject and subordinate to the preferential rights of the Class A Certificateholders to receive distributions in respect of the Class A Certificates, to the extent set forth herein, and distributions on the Class X Certificates are subject and subordinate to the maintenance of the Specified Spread Account Requirement as specified herein.

  • Spread Acct.) 8,823,535.71 3 Spread Account Requirement per Loan Agreement 3,498,299.64 4 Finance Charge Shortfall 1,898,438.59 5 Available for Other Excess Allocation Series 0.00 K.

  • Stormwater Management 70 44.01 Drainage Improvements 70 Section 45.

  • Spread Acct.) 8,230,541.24 3 Spread Account Requirement per Loan Agreement 7,560,000.00 4 Finance Charge Shortfall 4,998,790.79 5 Available for Other Excess Allocation Series 0.00 K.

  • Spread Acct.) 8,801,610.16 3 Spread Account Requirement per Loan Agreement 3,498,299.02 4 Finance Charge Shortfall 1,898,437.97 5 Available for Other Excess Allocation Series 0.00 K.

  • Spread Acct.) 9,774,336.91 3 Spread Account Requirement per Loan Agreement -37,256.55 4 Finance Charge Shortfall 0.00 5 Available for Other Excess Allocation Series 1,151,272.17 K.

  • Spread Acct.) 8,254,032.91 3 Spread Account Requirement per Loan Agreement 7,560,000.00 4 Finance Charge Shortfall 4,998,790.79 5 Available for Other Excess Allocation Series 0.00 K.


More Definitions of Spread Account Requirement

Spread Account Requirement means, with respect to the Closing Date, the Spread Account Initial Deposit and with respect to any Distribution Date thereafter, an amount equal to the greater of (x) ___% of the Aggregate Principal Balance at the end of the prior Collection Period and (y) ___% of the Original Pool Balance or, if a Spread Cap Event [(as such term is defined in the Insurance Agreement)] has occurred and is continuing, the greater of (a) ___% of the Aggregate Principal Balance at the end of the prior Collection Period and (b) ___% of the Original Pool Balance.
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Spread Account Requirement. As defined in the Insurance Agreement.
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Related to Spread Account Requirement

  • Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Spread Account means the Spread Account established and maintained pursuant to the Spread Account Agreement.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Spread Account Agreement means the Spread Account Agreement dated as of December 1, 1994, as amended and restated as of May 11, 1998 among the Insurer, the Seller and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Spread Account Percentage means, (i) 0% if the Quarterly Excess Spread Percentage on such Payment Date is greater than or equal to 5.00%, (ii) 2.00% if the Quarterly Excess Spread Percentage on such Payment Date is less than 5.00% and greater than or equal to 4.50%, (iii) 2.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 4.50% and greater than or equal to 4.00%, (iv) 3.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 4.00% and greater than or equal to 3.50%, (v) 4.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 3.50% and greater than or equal to 3.00%, (vi) 5.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 3.00% and greater than or equal to 2.50%, (vii) 6.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 2.50% and greater than or equal to 1.50%, (viii) 7.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 1.50% and greater than or equal to 0.50% and (ix) 8.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 0.50%.

  • Payment Requirement means the amount specified as being applicable to the Reference Entity in the Standard or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, USD 1,000,000 or its equivalent in the relevant Obligation Currency) in either case as of the occurrence of the relevant Failure to Pay or Potential Failure to Pay, as applicable.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Controlled Deposit Amount means, with respect to any Transfer Date, the sum of (a) the Controlled Accumulation Amount for such Transfer Date and (b) any existing Accumulation Shortfall.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.