Trustee Cap definition

Trustee Cap has the meaning specified in Section 3(f) of this Supplement.
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Trustee Cap means with respect to any date of determination, the lesser of (i) $200,000 and (ii) the product of (a) $10 and (b) the number of Contracts in the Contracts Pool on such date.
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Examples of Trustee Cap in a sentence

  • The amount payable with respect to the Recovery Bonds pursuant to Section 8.02(e)(i) shall not exceed $200,000 annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Recovery Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Securitized Utility Tariff Bonds pursuant to Section 8.02(e)(i) shall not exceed $200,000 annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Securitized Utility Tariff Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Series A Storm Recovery Bonds pursuant to Section 8.02(e)(i) of the Indenture shall not exceed $200,000 annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Storm Recovery Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Securitization Bonds pursuant to Section 8.02(e)(i) of the Indenture shall not exceed $250,000 annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Securitization Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Recovery Bonds pursuant to Section 8.02(e)(i) shall not exceed $200,000 annually (the “Trustee Cap”); provided, however, that the Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Recovery Bonds following the occurrence and continuation of an event of default.

  • The amount payable with respect to the Series {__} Storm Recovery Bonds pursuant to Section 8.02(e)(i) of the Indenture shall not exceed $200,000 annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Storm Recovery Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Recovery Bonds pursuant to Section 8.02(e)(i) shall not exceed $ annually (the “Trustee Cap”), provided, however, that the Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Recovery Bonds following the occurrence of an event of default.

  • The amount payable with respect to the Securitization Bonds pursuant to Section 8.02(e)(i) of the Indenture shall not exceed ${________} annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Securitization Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Series {__} Storm Recovery Bonds pursuant to Section 8.02(e)(i) of the Indenture shall not exceed $200,000} annually; provided, however, that the Indenture Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Storm Recovery Bonds following the occurrence of an Event of Default.

  • The amount payable with respect to the Recovery Bonds pursuant to Section 8.02(e)(i) shall not exceed $ annually (the “Trustee Cap”), provided, however, that the Trustee Cap shall be disregarded and inapplicable upon the acceleration of the Recovery Bonds following the occurrence and continuation of an event of default.

Related to Trustee Cap

  • Trustee/Certificate Administrator Fee With respect to each Mortgage Loan and for any Distribution Date, an amount accrued during the related Interest Accrual Period at the Trustee/Certificate Administrator Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the Trustee/Certificate Administrator Fee shall be payable from the Lower-Tier REMIC.

  • Trustee Fee As to any Distribution Date, an amount equal to one-twelfth of the Trustee Fee Rate multiplied by the Pool Stated Principal Balance with respect to such Distribution Date.

  • Owner Trustee Fee means an annual fee equal to $3,000, payable on the Payment Date occurring in August of each year, commencing in August 2024.

  • Indenture Trustee Fee means a fee that is separately agreed to between the Master Servicer and the Indenture Trustee.

  • Trustee Fees The amount or amounts set forth in the Trustee Fee Letter.

  • Trustee/Certificate Administrator Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0055% per annum.

  • NIM Trustee The trustee for the NIM Securities.

  • Trustee Float Period With respect to the Distribution Date and the related amounts in the Distribution Account, the period commencing on the Business Day immediately preceding such Distribution Date and ending on such Distribution Date.

  • Indenture Trustee Fee Rate means the per annum rate at which the Indenture Trustee Fee is calculated.

  • Bond Trustee Fee Agreement means the agreement entered into between the Issuer and the Bond Trustee relating among other things to the fees to be paid by the Issuer to the Bond Trustee for its obligations relating to the Bonds.

  • Class C Trustee Class D Certificate" and "Class D Trust", shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • Trustee means any person, including the founder of a trust, to whom property is bequeathed in order for such property to be administered for the benefit of another person.

  • Bond Trustee means the company designated as such in the preamble to these Bond Terms, or any successor, acting for and on behalf of the Bondholders in accordance with these Bond Terms.

  • Co-Trustee has the meaning set forth in the Basic Servicing Agreement.

  • U.S. Trustee Fees means fees arising under 28 U.S.C. § 1930(a)(6) and, to the extent applicable, accrued interest thereon arising under 31 U.S.C. § 3717.

  • Trustee Representatives has the meaning specified in Section 2.05(b).

  • Class A Trustee means the trustee for the Class A Pass Through Trust.

  • Securities Administrator Fee With respect to any Distribution Date, an amount equal to the product of (a) one-twelfth of the Securities Administrator Fee Rate and (b) the Stated Principal Balance of the Mortgage Loans as of the prior Distribution Date (or as of the Cut-off Date in the case of the first Distribution Date).

  • Trustee Agreement means the trustee agreement entered into on or before the First Issue Date, between the Issuer and the Trustee, or any replacement trustee agreement entered into after the First Issue Date between the Issuer and a trustee, regarding, inter alia, the remuneration payable to the Trustee or a replacement trustee.

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • Eligible Lender Trustee shall also mean each successor Eligible Lender Trustee as of the qualification of such successor as Eligible Lender Trustee under the Trust Agreement.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • indenture trustee or “institutional trustee” means the Trustee.

  • Class B Trustee Class C Certificate", "Class C Certificateholder", "Class C Trust", "Class C Trustee", "Class D Certificate" and "Class D Trust", shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • Interim Eligible Lender Trustee shall also mean each successor Interim Eligible Lender Trustee as of the qualification of such Interim Eligible Lender Trustee under the Interim Trust Agreement.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.