Unfunded Transfer Obligation definition
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to the greater of:
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to (x) the sum of (A) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Loans sold hereunder, plus (B) 10% of the aggregate Collateral Value (as of the related Funding Date) of the initial principal balance of the Advance Note and all Additional Note Balance related thereto purchased by the Issuer, plus (C) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Residual Securities sold hereunder, plus (D) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to Section 5.05(i)(i) hereof prior to such Payment Date, less (y) the sum of (i) the aggregate amount of payments actually made by the Loan Originator in respect of the Transfer Obligation pursuant to Section 5.06, (ii) the amount obtained by multiplying (a) the Unfunded Transfer Obligation Percentage by (b) the aggregate Collateral Value (as of the related date of Disposition) of all Loans and Residual Securities that have been subject to a Disposition and (iii) without duplication, the aggregate amount of the Repurchase Prices paid by the Servicer in respect of any Servicer Puts.
Unfunded Transfer Obligation. With respect to any Series of Notes and any date of determination after an Extension Date, an amount equal to (x) the sum of (A) the Transfer Obligation Carry-Forward Amount, plus (B) 10% of the aggregate Collateral Value of all Loans sold hereunder since such Extension Date plus (C) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to SECTION 5.05(J) hereof since such Extension Date less (y) the sum of the aggregate amount of payments actually made by the Loan Originator in respect of the Transfer Obligation pursuant to Section 2.3(b) of the Loan Purchase Agreement since such Extension Date and the aggregate amount of the Purchase Prices paid by Servicer in respect of any Loan Originator Puts since such Extension Date. With respect to any Series of Notes subsequent to the first Series of Notes, the Postsecuritization Unfunded Transfer Obligation may be modified as set forth in the Indenture Supplement.
Examples of Unfunded Transfer Obligation in a sentence
Upon the occurrence of (i) an Event of Default or Default or (ii) a Rapid Amortization Trigger or (iii) the Unfunded Transfer Obligation Percentage equals 4% or less, the Initial Noteholder may, in any such case, in its sole discretion, terminate the Revolving Period.
More Definitions of Unfunded Transfer Obligation
Unfunded Transfer Obligation. With respect to any Series of Notes and any date of determination on or prior to an Extension Date, an amount equal to (x) the sum of (a) 10% of the aggregate Collateral Value of all Loans sold hereunder since the related Closing Date, plus (B) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to SECTION 5.05(j) hereof since the related Closing Date less (y) the sum of the aggregate amount of payments actually made by the Loan Originator in respect of the Transfer Obligation pursuant to SECTION 2.3(b) of the Loan Purchase Agreement since the related Closing Date and the aggregate amount of the Purchase Prices paid by Servicer in respect of any Loan Originator Puts since the related Closing Date. With respect to any Series of Notes subsequent to the first Series of Notes, the Unfunded Transfer Obligation may be modified as set forth in the Indenture Supplement.
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to (x) the sum of (A) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Loans sold hereunder through and including such date, plus (B) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to Section 5.05(i)(i) hereof prior to such Payment Date, less (y) the sum of (i) the aggregate amount of payments theretofore actually made by the Loan Originator (or paid directly out of the Transfer Obligation Account) in respect of the Transfer Obligation pursuant to Section 5.06, (ii) the amount obtained by multiplying (a) as to each Disposition that has previously occurred, the Unfunded Transfer Obligation Percentage as of the date of such Disposition by (b) the aggregate Collateral Value of all Loans that were the subject of that Disposition and (iii) without duplication, the aggregate amount of the Repurchase Prices paid by the Servicer in respect of all Servicer Puts theretofore effected.
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to (x) the sum of (A) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Loans sold hereunder, plus (B) 10% of the aggregate Collateral Value (as of the related Funding Date) of the initial principal balance of the Advance Note and all Additional Principal Balance related thereto purchased by the Issuer, plus (C) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to Section 5.05(i)(i) hereof prior to such Payment Date, less (y) the sum of (i) the aggregate amount of payments actually made by the Loan Originator in respect of the Transfer Obligation pursuant to Section 5.06, (ii) the amount obtained by multiplying (a) the Unfunded Transfer Obligation Percentage by (b) the aggregate Collateral Value (as of the related date of Disposition) of all Loans that have been subject to a Disposition and (iii) without duplication, the aggregate amount of the Repurchase Prices paid by the Servicer in respect of any Servicer Puts.
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to (x) the sum of (A) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Loans sold hereunder, plus (B) any amounts withdrawn from the Transfer Obligation Account for return to the Transfer Obligors pursuant to Section 5.05(i)(i) hereof prior to such Payment Date, less (y) the sum of (i) the aggregate amount of payments actually made by the Transfer Obligors in respect of the Transfer Obligation pursuant to Section 5.06 and (ii) the aggregate amount of the Purchase Prices paid by the Loan Originators in respect of any Loan Originator Puts.
Unfunded Transfer Obligation. With respect to any date of determination, an amount equal to (x) the sum of (A) 10% of the aggregate Collateral Value (as of the related Transfer Date) of all Loans sold hereunder, plus (B) 10% of the aggregate Collateral Value (as of the related Funding Date) of the initial principal balance of the Advance Note and all Additional Principal Balance related thereto purchased by the Issuer, plus (C) any amounts withdrawn from the Transfer Obligation Account for return to the Loan Originator pursuant to Section 5.05(i)(i) hereof prior to such Payment Date, less (y) the sum of (i) the aggregate amount of payments actually made by the Loan Originator in respect of the Transfer Obligation pursuant to Section 5.06, (ii) the amount obtained by multiplying (a) the Unfunded Transfer Obligation Percentage by (b) the aggregate Collateral Value (as of the related date of Disposition) of all Loans that have been subject to a Disposition and (iii) without duplication, the aggregate amount of the Repurchase Prices paid by the Servicer in respect of any Servicer Puts. Unfunded Transfer Obligation Percentage: As of any date of determination, an amount equal to (x) the Unfunded Transfer Obligation as of such date, divided by (y) 100% of the aggregate Collateral Values as of the related Transfer Date of all Loans in the Loan Pool.