Available Class B Credit Enhancement Amount definition

Available Class B Credit Enhancement Amount means, with respect to the first Distribution Date, the Stated Class B Credit Enhancement Amount, and, thereafter, shall mean the amount available to be drawn under the Credit Enhancement with respect to the Available Class B Credit Enhancement Amount from time to time, which on any date of determination shall be equal to the Available Class B Credit Enhancement Amount for the immediately preceding Distribution Date minus the amount of all Credit Enhancement Drawings with respect to the Available Class B Credit Enhancement Amount on or since such immediately preceding Distribution Date, plus the amount of all payments made to the Trustee as administrator of the Credit Enhancement with respect to the Available Class B Credit Enhancement Amount pursuant to Section 9 plus, following an Effective Alternative Credit Support Election, the Additional Credit Support Amount and, plus, following a Supplemental Credit Enhancement Event, the Supplemental Credit Enhancement Amount; provided, however, that from and after the Fully Funded Date, if any, the Available Class B Credit Enhancement Amount shall equal zero.
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Available Class B Credit Enhancement Amount means, with respect to the first Distribution Date, the Stated Class B Credit Enhancement Amount, and, thereafter, shall mean the amount available to be drawn under the Credit Enhancement with respect to the Available Class B Credit Enhancement Amount from time to time, which on any date of determination shall be equal to the Available Class B Credit Enhancement Amount for the immediately preceding Distribution Date minus the amount of all Credit Enhancement Drawings with respect to the Available Class B Credit Enhancement Amount on or since such immediately preceding Distribution Date, plus the amount of all payments made to the Trustee as administrator of the Credit Enhancement with respect to the Available Class B Credit Enhancement Amount pursuant to Section 9 plus, following an Effective Alternative Credit Support Election, the Additional Credit Support Amount and, plus, following a Supplemental Credit Enhancement Event, the Supplemental Credit Enhancement Amount; provided, however, that from and after the Fully Funded Date, if any, the Available Class B Credit Enhancement Amount shall equal zero. "Available Shared Credit Enhancement Amount," if applicable, shall mean, with respect to the first Distribution Date, the Stated Shared Credit Enhancement Amount, and, thereafter, shall mean the amount available to be drawn under the Credit Enhancement with respect to the Available Shared Credit Enhancement Amount from time to time, which on any date of determination shall be equal to the Available Shared Credit Enhancement Amount for the immediately preceding Distribution Date minus the amount of all Credit Enhancement Drawings with respect to the Available Shared Credit Enhancement Amount on or since such immediately preceding Distribution Date, and plus the amounts of all payments made to the Trustee as administrator of the Credit Enhancement with respect to the Available Shared Credit Enhancement Amount pursuant to Section 9. "Available Subordinated Amount, " if there is a Subordinate Class with respect to Class A, shall mean, on a Distribution Date, the sum of
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Available Class B Credit Enhancement Amount means, with respect to the first Distribution Date, the Stated Class B Credit Enhancement Amount, and, thereafter, shall mean
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Examples of Available Class B Credit Enhancement Amount in a sentence

  • In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.

  • In the event that a Supplemental Credit Enhancement Event occurs, Greenwood as Servicer may cause the Supplemental Credit Enhancement Amount to be funded by Series Excess Servicing and other amounts paid to the Trustee as administrator of the Credit Enhancement to fund the Available Class B Credit Enhancement Amount, or may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

  • All sums not paid by the due date shall bear interest from the due date until paid at the rate of 1.5% per month or the highest rate permitted by law, whichever is lower.

  • Additional Credit Support Amount The lesser of (x)(i) $ prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $ following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).

  • In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount, the Available Shared Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.

  • In the event that a Supplemental Credit Enhancement Event occurs, Greenwood as Servicer may cause the Supplemental Credit Enhacement Amount to be funded by Series Excess Servicing and other amounts paid to the Trustee as administrator of the Credit Enhancement to fund the Available Class B Credit Enhancement Amount, or may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

  • Additional Credit Support Amount The lesser of (x) $26,315,800 and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).

  • Additional Credit Support Amount The lesser of (x)(i) $26,315,800 prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $15,789,480 following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).

  • Additional Credit Support Amount The lesser of (x)(i) $57,894,750 prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $52,105,275 following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).

  • Additional Credit Support Amount The lesser of (x) (i) $ prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $ following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).


More Definitions of Available Class B Credit Enhancement Amount

Available Class B Credit Enhancement Amount means, with respect to the first Distribution Date, the Stated Class B Credit Enhancement Amount, and, thereafter, shall mean the amount available to be drawn under the Credit Enhancement with respect to the Available Class B Credit Enhancement Amount from time to time, which on any date of determination shall be equal to the Available Class B Credit Enhancement Amount for the immediately preceding Distribution Date minus the amount of all Credit Enhancement Drawings with respect to the Available Class B Credit Enhancement Amount on or since such immediately preceding Distribution Date, plus the amount of
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Related to Available Class B Credit Enhancement Amount

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Minimum Credit Enhancement Test means, with respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage (solely for purposes of such test, rounded to the sixth decimal place) is greater than or equal to 4.500000%.