Trustee Cap definition
Trustee Cap has the meaning specified in Section 3(f) of this Supplement.
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.
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 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 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.