YSOC Amount means, (i) as of the Closing Date, $62,999,164.12, and (ii) thereafter, with respect to any Collection Period and the related Distribution Date, the aggregate amount by which the Principal Balance as of the last day of such Collection Period of each Receivable (other than a Receivable that is a non-collectible Receivable, a Defaulted Receivable or a Repurchased Receivable), exceeds the present value of each scheduled payment of each such Receivable assuming the discount rate of such Receivable is the greater of the Required Rate or the Receivable’s contract rate and that such scheduled payments (assumed to be equal monthly payments that amortize the Principal Balance of the Receivable to zero, using its contract rate, over the remaining term of the contract) are made on the last day of each month and each month has 30 days.
YSOC Amount means, with respect to each Payment Date, an amount equal to the dollar amount set forth next to such Payment Date on Exhibit D to the Servicing Agreement.
YSOC Amount means, with respect to any Collection Period and the related Distribution Date, the aggregate amount by which the principal balance as of the last day of such Collection Period of each Receivable (other than a Receivable that is a non-collectible or a Defaulted Receivable, an Administrative Receivable or a Warranty Receivable), exceeds the present value of each scheduled payment of each such Receivable assuming the discount rate of such Receivable is the greater of the Required Rate or the Receivable’s contract rate and that such scheduled payments (assumed to be equal monthly payments that amortize the principal balance of the Receivable to zero, using its contract rate, over the remaining term of the contract) are made on the last day of each month and each month has 30 days.
Examples of YSOC Amount in a sentence
On the Closing Date, the YSOC Amount will be $22,618,552.27, which will be approximately 1.57% of the Pool Balance as of the Cut-off Date.
At any time, the Adjusted Pool Balance shall equal the Pool Balance minus the YSOC Amount.
Pool Information Beginning of Period* End of PeriodWeighted average APR4.64%4.63%Weighted average Remaining Term41 Months40 MonthsNumber of Receivables Outstanding44,63043,566Pool Balance$ 650,550,921.75$ 622,083,755.41Adjusted Pool Balance (Pool Balance ‐ YSOC Amount)$ 636,300,090.75$ 608,515,514.41Pool Factor0.81478460.7791308 VII.
More Definitions of YSOC Amount
YSOC Amount means, with respect to each Payment Date, the product of 1.50% and the Pool Balance as of the last day of the related Collection Period.
YSOC Amount means, with respect to any calendar month and the related payment date, or with respect to the cutoff date, the aggregate amount by which the principal balance as of the last day of such calendar month or the cutoff date of each of the related receivables with an annual percentage rate as stated in the related contract of less than the Required Rate, other than a Defaulted Receivable, exceeds the present value, calculated using a discount rate of the Required Rate, of each scheduled payment of each such receivable assuming such scheduled payment is made on the last day of each month and each month has 30 days.
YSOC Amount means, with respect to each Payment Date, an amount equal to the sum of the amount for each Receivable equal to the excess, if any, of (x) the scheduled payments due on the Receivable for each future Collection Period discounted to present value as of the end of the preceding Collection Period at the APR of that Receivable over (y) the scheduled payments due on the Receivable for each future Collection Period discounted to present value as of the end of the preceding Collection Period at a discount rate equal to the greater of the APR of that Receivable and [ ]%.]
YSOC Amount means, (a) as of the Closing Date, $95,727,428.43, and (b) thereafter, with respect to any Collection Period and the related Distribution Date, the aggregate amount by which the Principal Balance as of the last day of such Collection Period of each Receivable (other than a Receivable that is a Defaulted Receivable), exceeds the present value of each scheduled payment of each such Receivable assuming (i) the discount rate of such Receivable is the greater of the Required Rate and the Receivable’s contract rate, (ii) that such scheduled payments (assumed to be equal monthly payments that amortize the Principal Balance of the Receivable to zero, using its contract rate, over the remaining term of the contract) are made on the last day of each month and (iii) each month has 30 days.
YSOC Amount means, (i) as of the Closing Date, $25,439,844.30, and (ii) thereafter, with respect to any Collection Period and the related Distribution Date, the aggregate amount by which the Principal Balance as of the last day of such Collection Period of each Receivable (other than a Receivable that is a non-collectible or a Defaulted Receivable, an Administrative Receivable or a Warranty Receivable), exceeds the present value of each scheduled payment of each such Receivable assuming the discount rate of such Receivable is the greater of the Required Rate or the Receivable’s contract rate and that such scheduled payments (assumed to be equal monthly payments that amortize the Principal Balance of the Receivable to zero, using its contract rate, over the remaining term of the contract) are made on the last day of each month and each month has 30 days. 22 (Nissan 2013-C Sale and Servicing Agreement)
YSOC Amount means, with respect to any Collection Period and the related Distribution Date, the aggregate amount by which the principal balance as of the last day of such Collection Period of each Receivable (other than a Receivable that is a non-collectible or Defaulted Receivable or a Receivable that has been purchased by the Servicer or repurchased by the Depositor due to certain breaches), exceeds the present value of each scheduled payment of each such Receivable assuming the discount rate of such Receivable is the greater of the Required Rate or the Receivable’s contract rate and that such scheduled payments (assumed to be equal monthly payments that amortize the principal balance of the Receivable to zero, using its contract rate, over the remaining term of the contract) are made on the last day of each month and each month has 30 days.
YSOC Amount means, with respect to any Collection Period and the related Payment Date, the aggregate amount by which the Principal Balance as of the last day of such Collection Period of each Discount Receivable (other than a Discount Receivable that is a Defaulted Receivable), exceeds the present value (calculated at the Required Rate) of each scheduled payment of each Discount Receivable assuming such scheduled payment is made on the last day of each month and each month has 30 days.