MINIMUM TRANSFEROR INTEREST PERCENTAGE Sample Clauses

MINIMUM TRANSFEROR INTEREST PERCENTAGE. The Minimum Transferor Interest Percentage applicable to the Series 1997-2 Certificates shall be 0%; provided, however, that (a) the Transferor may, at its option and in its sole discretion, designate a higher percentage as the Minimum Transferor Interest Percentage so long as, after giving effect to such designation and any repurchase of Investor Certificates or designation of Additional Accounts, the Transferor Amount shall equal or exceed the Minimum Transferor Amount and (b) if on any Distribution Date during the Revolving Period (after giving effect to all distributions and adjustments to be made on such Distribution Date), the portion of the Class D Investor Amount owned by the Transferor is less than 2% of the Investor Amount and the Minimum Transferor Interest Percentage is less than 2%, the Transferor shall, on or before the last day of the second Monthly Period following the Monthly Period in which such Distribution Date occurred (unless the portion of the Class D Investor Amount owned by the Transferor shall then equal or exceed 2% of the Investor Amount), (i) repurchase or otherwise repay Investor Certificates (to the extent permitted by any Supplement) or designate Additional Accounts to the extent necessary to permit the designation of a Minimum Transferor Interest Percentage of 2% without causing the Transferor Amount to be less than the Minimum Transferor Amount and (ii) upon compliance with clause (i), designate 2% as the Minimum Transferor Interest Percentage. In the event that the Transferor shall have designated a Minimum Transferor Interest Percentage in excess of 0%, the Transferor may, during the Revolving Period, designate a lower percentage (but not less than 0%) if the portion of the Class D Investor Amount owned by the Transferor as a percentage of the Investor Amount averaged over the three Distribution Dates preceding such designation (after giving effect to all distributions and adjustments made on each such Distribution Date) shall equal or exceed 4%; provided, however, that such lower percentage may not be less than 2% if the portion of the Class D Investor Amount owned by the Transferor as a percentage of the Investor Amount on the Distribution Date preceding such designation (after giving effect to all distributions and adjustments made on such Distribution Date) shall not equal or exceed 2%.