Retained Collections Contributions Sample Clauses
The "Retained Collections Contributions" clause defines how certain collected funds or assets are to be kept and managed by a party, rather than being immediately distributed or transferred. In practice, this clause specifies which contributions—such as payments, royalties, or other receivables—are to be retained, under what conditions, and for how long. For example, a service provider might retain a portion of collected fees to cover future expenses or as security against potential claims. The core function of this clause is to ensure that necessary resources remain available to meet ongoing obligations or contingencies, thereby protecting the interests of the retaining party and providing financial stability within the agreement.
Retained Collections Contributions. Between the Closing Date and the Final Series Legal Final Maturity Date, the Issuer may designate Retained Collections Contributions to be included in Net Cash Flow, but not more than (x) for all Retained Collections Contributions made in any single Quarterly Fiscal Period, the greater of (A) 5% of Net Cash Flow over the four (4) Quarterly Fiscal Periods immediately preceding the relevant date of determination and (B) $7 million, (y) for all Retained Collections Contributions made during any period of four (4) consecutive Quarterly Fiscal Periods, the greater of (A) 15% of Net Cash Flow over the four (4) Quarterly Fiscal Periods immediately preceding the relevant date of determination and (B) $15 million and (z) for all Retained Collections Contributions made from the Closing Date to the Final Series Legal Final Maturity Date, the greater of (A) 25% of Net Cash Flow during the four (4) Quarterly Fiscal Periods immediately preceding the relevant date of determination and (B) $30 million; provided that any Retained Collections Contributions made to the Issuer following a Quarterly Fiscal Period, but on or before the related Quarterly Calculation Date, may, at the Issuer’s discretion as designated in the related Weekly Manager’s Certificate or Quarterly Noteholders’ Report, as applicable, be included in Net Cash Flow for such Quarterly Fiscal Period; provided that any Retained Collections Contribution made shall be excluded from Net Cash Flow for purposes of calculations undertaken in the following circumstances: (i) calculating the Additional Notes DSCR in connection with the issuance of any Additional Notes pursuant to Section 2.2 and (ii) satisfaction of the Series 2020-1 Class A-2 Non-Amortization Test. The Issuer may not designate equity contributions as Retained Collections Contributions to the extent such equity contributions were funded by the proceeds of a draw under any Class A-1 Notes. If any Retained Collections Contribution is included in Net Cash Flow for the purpose of calculating the DSCR, such Retained Collections Contribution shall be retained in the Collection Account until the Weekly Allocation Date on which either (i) the DSCR for the period of four (4) Quarterly Fiscal Periods ended immediately prior to such Weekly Allocation Date is at least 1.50x without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under pr...
Retained Collections Contributions. During the period commencing on the Series 2015-1 Closing Date and ending on the Final Series 2018-1 Legal Final Maturity Date, the IssuerCo-Issuers may (but isare not required to) designate Retained Collections Contributions to be included in Net Cash Flow, but not more than $2,000,000 in any Quarterly Fiscal Period or more than $4,000,000 during any period of four (4) consecutive Quarterly Fiscal Periods or more than $10,000,000 from the Series 2015-1 Closing Date to the Final Series 2018-1 Legal Final Maturity Date; provided that any Retained Collections Contributions shall be excluded from the amount of Net Cash Flow for purposes of calculating the New Series Pro Forma DSCR in connection with the issuance of any new Series. The amount of any Retained Collections Contribution included in Net Cash Flow for the purpose of calculating the DSCR shall be retained in the Collection Account until the Weekly Allocation Date on which either (i) the DSCR for the period of four Quarterly Fiscal Periods ended immediately prior to such Weekly Allocation Date is at least 1.50:1.00 without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under priorities (ii) through (xxvxxviii) of the Priority of Payments, to the extent of any shortfall on such Weekly Allocation Date. The IssuerCo-Issuers may not designate equity contributions as Retained Collections Contributions to the extent such equity contributions were funded by the proceeds of a draw under any Class A-1 Notes. For the avoidance of doubt, Series 2015-1 Class A-2 Optional Scheduled Principal Payments, Series 2016-1 Class A-2 Optional Scheduled Principal Payments and, Series 2018-1 Class A-2 Optional Scheduled Principal Payments, Series 2019-1 Class A-2 Optional Scheduled Principal Payments, Series 2019-2 Class A-2 Optional Scheduled Principal Payments, and Series 2020-1 Class A-2 Optional Scheduled Principal Payments shall not constitute Retained Collections Contributions.
Retained Collections Contributions. Any Obligor may designate (x) cash capital contributions made to such Obligor at any time by the Manager or an affiliate of the Manager or (y) any amount allocated under clause (xix) of the Priority of Payments on any Payment Date that is retained by the Issuer and, in each case, deposited into the Liquidity Reserve Account, as a “Retained Collections Contribution”; provided that a cash capital contribution shall not be deemed to be a Retained Collections Contribution if, as of the related deposit date into the Liquidity Reserve Account, such amount exceeds the limits set forth in the Series Supplement for any Series of Notes outstanding. Any Retained Collections Contribution made following a Collection Period, but on or before the related Payment Date may, at the Issuer’s discretion as designated in the applicable Manager Report, be included in Aggregate Annualized Run Rate Revenue as of the related Determination Date. Any Retained Collections Contributions will be part of Aggregate Annualized Run Rate Revenue for one year from the related deposit date. Any Retained Collections Contribution will be required to be retained in the Liquidity Reserve Account until the earlier of (i) one year after its related deposit date, and (ii) such Retained Collections Contribution being required to be used to satisfy any Liquidity Reserve Draw Amount. Upon the satisfaction of the preceding clause (i), the Obligors (or the Manager on their behalf) may direct the Indenture Trustee in writing to release the related Retained Collections Contributions from the Liquidity Reserve Account and deposit such amount to the Collection Account on the following Payment Date for application in accordance with the Priority of Payments on such Payment Date pursuant to the related Manager Report. For the avoidance of doubt, Retained Collections Contributions will not be annualized.
Retained Collections Contributions. At any time after the Closing Date, the Master Issuer may (but is not required to) designate Retained Collections Contributions to be included in Net Cash Flow, but not more than $15,000,000 in any Quarterly Collection Period or more than $30,000,000 during any period of four (4) consecutive Quarterly Collection Periods or more than $60,000,000 from the Closing Date to the Quarterly Payment Date occurring in June 2045; provided that any Retained Collections Contributions shall be excluded from the amount of Net Cash Flow for purposes of calculations undertaken in the following circumstances: (a) to determine compliance with any Series Non-Amortization Test and (b) to determine the New Series Pro Forma DSCR. The amount of any Retained Collections Contribution included in Net Cash Flow for the purpose of calculating the DSCR shall be retained in the Collection Account until the Weekly Allocation Date on which either (i) the DSCR for the period of four (4) Quarterly Collection Periods ended immediately prior to such Weekly Allocation Date is at least 1.75x without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under priorities (ii) through (xxviii) of the Priority of Payments, to the extent of any shortfall on such Weekly Allocation Date.
Retained Collections Contributions. At any time after the Closing Date, the Co-Issuers may (but are not required to) designate Retained Collections Contributions to be included in Net Cash Flow, but not more than $10,000,000 in any Quarterly Collection Period or more than $20,000,000 during any period of four (4) consecutive Quarterly Collection Periods or more than $40,000,000 from the Closing Date to the Series Legal Final Maturity Date; provided, that any Retained Collections Contributions shall be excluded from the amount of Net Cash Flow for purposes of calculations undertaken in the following circumstances: (a) to determine the New Series Pro Forma DSCR, (b) to determine satisfaction of any Series Non-Amortization Test and (c) to determine whether the Co-Issuers may extend any Class A-1 Notes Renewal Date. The amount of any Retained Collections Contribution included in Net Cash Flow for the purpose of calculating the DSCR shall be retained in the Collection Account until the Weekly Allocation Date on which either (i) the DSCR for the period of four Quarterly Collection Periods ended immediately prior to such Weekly Allocation Date is at least 1.50x without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under priorities (ii) through (xxvi) of the Priority of Payments, to the extent of any shortfall on such Weekly Allocation Date. The Co-Issuers may not designate equity contributions as Retained Collections Contributions to the extent such equity contributions were funded by the proceeds of a draw under any Class A-1 Notes.
Retained Collections Contributions. Section 4.01 Retained Collections Contributions For purposes of the Series 2023- 1 Notes, a cash capital contribution made to an Obligor at any time by the Manager or an affiliate of the Manager shall not be deemed to be a Retained Collections Contribution if, as of the related deposit date into the Liquidity Reserve Account in accordance with Section 2.12(b) of the Base Indenture, (x) the aggregate Retained Collection Contributions during the immediately preceding twelve month period would exceed the greater of (A) 15% of Annualized Run Rate Revenue as of the last day of the immediately preceding calendar month and (B) $37 million or (y) the aggregate Retained Collection Contributions since the Closing Date would exceed the greater of (A) 25% of Annualized Run Rate Revenue as of the last day of the immediately preceding calendar month and (B) $62 million.
Retained Collections Contributions. For purposes of the Series 2025-1 Notes, any Retained Collections Contribution made to the Issuer pursuant to Section 2.12(e) of the Base Indenture may be designated by the Issuer, acting at the direction of the Manager, as part of Aggregate Annualized Run Rate Net Cash Flow, for up to one (1) year, in an amount not to exceed (x) the greater of (A) 15% of Annualized Run Rate Net Cash Flow as of the last day of the immediately preceding calendar month and (B) $6,000,000 over any period of four (4) consecutive calendar quarters and not to exceed (y) the greater of (A) 25% of Annualized Run Rate Net Cash Flow and (B) $9,000,000 from the Series 2025-1 Closing Date to the Series 2025-1 Term Note Anticipated Repayment Date.
Retained Collections Contributions. At any time after the Closing Date, the Master Issuer may designate Retained Collections Contributions to be included in Net Cash Flow for purposes of calculating the DSCR, but not more than $2,000,000 in any Monthly Collection Period or more than $5,000,000 during any period of 12 Monthly Collection Periods or more than $10,000,000 from the Closing Date to the Final Series Legal Final Maturity Date. Any Retained Collections Contribution that is included in Net Cash Flow for the purpose of calculating the DSCR will be retained in the Collection Account until the Interim Allocation Date on which either (i) the DSCR for the period of twelve Monthly Collection Periods ended immediately prior to such Interim Allocation Date is at least 1.50x without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under clauses (i) through (xxxi) of the Priority of Payments, to the extent of any shortfall. Any equity contribution made to the Master Issuer after the Closing Date will not be included for purposes of calculating the DSCR in order to determine if the conditions to the issuance of additional Series of Notes have been satisfied. The Master Issuer may not designate equity contributions as Retained Collections Contributions to the extent such equity contributions were funded by the proceeds of a draw under any Class A-1 Senior Notes.
Retained Collections Contributions. The definition of “Retained Collections Contribution” in the Base Indenture Definitions List is hereby amended by inserting the double underlined text in the following paragraph:
Retained Collections Contributions. At any time after the Closing Date, the Master Issuer may (but is not required to) designate Retained Collections Contributions to be included in Net Cash Flow, but not more than $25,000,000 in any Quarterly Collection Period or more than $50,000,000 during any period of four (4) consecutive Quarterly Collection Periods or more than $80,000,000 from the Closing Date to the Series 2015-1 Notes Series Legal Final Maturity Date; provided, that any Retained Collections Contributions shall be excluded from the amount of Net Cash Flow for purposes of calculations undertaken in the following circumstances: (a) to determine whether the Master Issuer may extend the Series 2015-1 Class A-1 Notes Renewal Date, (b) to determine compliance with any Series Non-Amortization Test and (c) to determine the New Series Pro Forma DSCR. The amount of any Retained Collections Contribution included in Net Cash Flow for the purpose of calculating the DSCR shall be retained in the Collection Account until the Weekly Allocation Date on which either (i) the DSCR for the period of four (4) Quarterly Collection Periods ended immediately prior to such Weekly Allocation Date is at least 1.75x without giving effect to the inclusion of such Retained Collections Contribution or (ii) such Retained Collections Contribution is required to pay any shortfall in the amounts payable under priorities (ii) through (xviii) of the Priority of Payments, to the extent of any shortfall on such Weekly Allocation Date.