Class B Required Reserve Account Amount definition

Class B Required Reserve Account Amount means, with respect to any date of determination, an amount equal to the greater of (a) the excess, if any, of the Class B Required Liquidity Amount over the Class B Letter of Credit Liquidity Amount, in each case, as of such date, excluding from the calculation thereof the amount available to be drawn under any Class B Letter of Credit if at the time of such calculation (A) such Class B Letter of Credit shall not be in full force and effect, (B) an Event of Bankruptcy shall have occurred with respect to the Class B Letter of Credit Provider of such Class B Letter of Credit, (C) such Class B Letter of Credit Provider shall have repudiated such Class B Letter of Credit or failed to honor a draw thereon made in accordance with the terms thereof or (D) a Class B Downgrade Event shall have occurred and be continuing for at least 30 days with respect to the Series 2005-2 Letter of Credit Provider of such Class B Letter of Credit, and (b) the excess, if any, of the Class B Required Enhancement Amount over the Class B Adjusted Enhancement Amount (excluding therefrom the Class B Available Reserve Account Amount), in each case, as of such date.
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Class B Required Reserve Account Amount means, with respect to any Distribution Date prior to the Class B Reserve Account Funding Date, $0, and on or after the Class B Reserve Account Funding Date, 0.25% of the Class B Invested Amount as of such Distribution Date (after giving effect to all changes therein on such date).
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Class B Required Reserve Account Amount. For each Payment Date prior to the Senior Liability Termination Date, $201,654, and for each Payment Date thereafter, zero.
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Examples of Class B Required Reserve Account Amount in a sentence

  • On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Class B Reserve Account shall be retained in the Class B Reserve Account (to the extent that the Class B Available Reserve Account Amount is less than the Class B Required Reserve Account Amount) and the balance, if any, shall be distributed on the related Distribution Date to or at the direction of the Seller.

  • On the Closing Date, the Issuer will cause to be deposited from the proceeds of the sale of the Notes, an amount equal to the Class B Required Reserve Account Amount into the Class B Reserve Account.

Related to Class B Required Reserve Account Amount

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Available Reserve Account Amount means, for any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.4(a)(ix) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.