Subordination Factor means, for the Series 2019-2 Notes, (a) for a Determination Date not stated in clause (b), 12.50% or (b) for a Determination Date during a Subordination Step-up Period, unless the Depositors have elected to increase the Series 2019-2 Reserve Account Required Percentage according to Section 4.7(b) of the Indenture Supplement, 16.50%.
Subordination Factor means, for the Series 20 - Notes, (a) for a Determination Date not stated in clause (b), % or (b) for a Determination Date during a Subordination Step-up Period, unless the Depositors have elected to increase the Series 20 - Reserve Account Required Percentage according to Section 4.7(b) of the Indenture Supplement, %.
Subordination Factor means 10%; provided, however, that the Subordination Factor will be 11% in the event that the rating of the long-term unsecured debt of CFC is lowered below BBB- by Standard & Poor's or withdrawn by Standard & Poor's, unless, in either such case, the Seller receives written confirmation from Standard & Poor's that the failure to so increase the Subordination Factor would not result in the downgrade or withdrawal of Standard & Poor's rating of the Series 2000-B Certificates.
Examples of Subordination Factor in a sentence
Notwithstanding the foregoing, the Depositor shall not be permitted to increase the Subordination Factor in its discretion without satisfaction of the Series 2012-5 Rating Agency Condition in connection therewith if such increase would result in the aggregate amount of all such increases together with discretionary increases in the Class E Invested Amount and the Reserve Fund exceeding 5.0% of the outstanding principal balance of the Series 2012-5 notes as of the date of such increase.
Notwithstanding the foregoing, the depositor shall not be permitted to increase the Class E Invested Amount without satisfaction of the Series 2012-5 Rating Agency Condition in connection therewith if such increase would result in the aggregate amount of all such increase together with all amounts resulting from a discretionary increase in the Series 2012-5 Subordination Factor and the Reserve Fund exceeding 5.0% of the Note Principal Balance as of the date of such increase.
More Definitions of Subordination Factor
Subordination Factor means 10%; provided, however, that the Subordination Factor will be 11% in the event that the rating of the long-term unsecured debt of CFC is lowered below BBB- by Standard & Poor's or withdrawn by Standard & Poor's, unless, in either such case, the Seller receives written confirmation from Standard & Poor's that the failure to so increase the Subordination Factor would not result in the downgrade or withdrawal of Standard & Poor's rating of the Series 2000-A Certificates.
Subordination Factor. As of any date, [ ]%[; provided, however, that if on any Distribution Date, the Three Month Average Payment Rate is (i) less than [ ]% but greater than or equal to [ ]%, (ii) less than [ ]% but greater than or equal to [ ]%, or (iii) less than [ ]%, then on the next Distribution Date, the Subordination Factor shall be equal to (i) [ ]%, (ii) [ ]%, or (iii) [ ]%, respectively; provided, however, that if after any such increase in the Subordination Factor, on any Distribution Date the Three Month Average Payment Rate as of Distribution Date is, and the Three Month Average Payment Date with respect to each of the two prior Distribution Dates was, (i) greater than or equal [ ]% but less than [ ]%, (ii) greater than or equal to [ ]% but less than [ ]% or (iii) greater than or equal to [ ]%, then on the next Distribution Date, the Subordination Factor shall be (i) [ ]%, (ii) [ ]% or [ ]%, respectively; provided, further, that the Depositor may, by delivering an Officer’s Certificate to the Indenture Trustee and the Rating Agencies prior to the date such increase was to become effective, elect to increase the Reserve Fund Required Percentage in an amount in percentage points equal to the amount the Subordination Factor would otherwise have been required to have been increased rather than increasing the Subordination Factor. In addition, the Depositor may (a) in its discretion increase the Subordination Factor, increasing the Subordination Percentage and thereby increasing the Class E Invested Amount and the Class E Principal Amount by an amount equal to the product of (i) the increase in the Subordination Percentage and (ii) the excess, if any, of (A) the Net Invested Amount over (B) the Series 20[ ]-[ ] Excess Funding Amount on such date (after giving effect to any changes in such amount on such date); provided such increase shall not cause the Required Nonoverconcentration Pool Balance to exceed the Nonoverconcentration Pool Balance or cause the Nonoverconcentration Certificate Amount to be less than the Required Nonoverconcentration Certificate Amount or (b) upon satisfaction of the Series 20[ ]-[ ] Rating Agency Condition with respect to each Class of Series 20[ ]-[ ] Notes in connection therewith, decrease the Subordination Factor, with corresponding decreases in the Subordination Percentage, the Class E Invested Amount and the Class E Principal Amount. Notwithstanding the foregoing, the Depositor shall not be permitted to increase the Subordination Factor i...
Subordination Factor means 8.0%.
Subordination Factor means, for the Series __ Notes, __%.["Swap Counterparty" means ____________, or its permitted successors and assigns, or any other swap counterparty under an Interest Rate Swap.]
Subordination Factor means 7.5%.
Subordination Factor means, initially, 8.75%, except that if at -------------------- any time the rating of VWAG's long-term unsecured debt is lowered below BBB- by Standard & Poor's or withdrawn by Standard & Poor's, the Subordination Factor will thereafter be increased to 9.75%, unless the Trust receives written confirmation from Standard & Poor's that the failure to increase the Subordination Factor will not result in Standard & Poor's lowering or withdrawing its rating on the Series 2000-1 Notes.
Subordination Factor means, for the Series 2006-3 Notes, 10.50%.