Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.
Required Reserve Amount means, (i) $__________ (i.e., ___% of the 201[__]-[__] Cutoff Date Aggregate Securitization Value) or (ii) on any Payment Date occurring on or after the date on which the Outstanding Amount of the Notes has been reduced to zero, zero; provided that the Required Reserve Amount may not be greater than the Note Balance of the Notes.
Required Reserve Amount means, with respect to any Payment Date (i) during the Revolving Period, an amount equal to $10,899,182.56 (which is approximately 1.00% of the Series Invested Amount as of the Closing Date) and (ii) during the Amortization Period, an amount equal to the amount on deposit in the Reserve Account as of the immediately preceding Payment Date, after giving effect to all deposits into and withdrawals from the Reserve Account on such immediately preceding Payment Date.
Examples of Required Reserve Amount in a sentence
On any Payment Date, to the extent [the sum of] the amount on deposit in the Reserve Account [plus the amount available under [the][any] Letter of Credit] exceeds the Required Reserve Amount on any Payment Date, the amount of such excess may be released from the Reserve Account and paid to [the Class R Interest] on such Payment Date.
On the Closing Date, the Trust will deposit or cause to be deposited the Required Reserve Amount into the Reserve Account [from the net proceeds of the sale of the Notes].
More Definitions of Required Reserve Amount
Required Reserve Amount means, $4,055,816.88, which is 0.25% of the Initial Pool Balance.
Required Reserve Amount the Reserve Percentage multiplied by the unpaid balance of Purchased Accounts.
Required Reserve Amount means $17,877,097.75, or approximately 1% of the Adjusted Pool Balance as of the Initial Cutoff Date.
Required Reserve Amount has the meaning set forth in Section 6(a).
Required Reserve Amount. The Reserve Percentage multiplied by the unpaid balance of all Purchased Accounts, plus all amounts due on Ineligible Accounts, plus all accrued fees and expenses.
Required Reserve Amount means, $3,121,143.04, which is 0.25% of the Initial Pool Balance.
Required Reserve Amount shall have the meaning set forth in Section 9(a).