Reserve Account Required Amount definition

Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date).

Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date); provided, further that, if pursuant to Section 9.01 of the Sale and Servicing Agreement, all amounts on deposit in the Reserve Account on such Payment Date are transferred from the Reserve Account to the Collection Account and applied to make payments pursuant to Section 5.05(b) of the Sale and Servicing Agreement, the Reserve Account Required Amount shall be $0 for such Payment Date.

Examples of Reserve Account Required Amount in a sentence

• This risk is mitigated by (i) the requirement to credit to the Reserve Account an amount equal to the Reserve Account Required Amount, (ii) the Excess Margin and (ii) the revenues of the Mortgage Receivables that have been purchased with the (partial) proceeds of the Subordinated Loan.

• The proceeds of the Subordinated Loan will be used to (i) pay part of the Initial Purchase Price and (ii) credit the Reserve Account up to the Reserve Account Required Amount.

• To the extent that the balance standing to the credit of the Reserve Account on any Monthly Calculation Date exceeds the Reserve Account Required Amount, such excess shall be drawn from the Reserve Account on the immediately succeeding Monthly Payment Date and shall form part of the Notes Interest Available Amount on that Monthly Payment Date.

• Reserve Account: The CBC shall maintain with the CBC Account Bank the Reserve Account towhich the higher of (i) the Reserve Account Required Amount and (ii) the Liquidity Reserve Required Amount will be credited.

• The Issuer will enter into a subordinated loan agreement (the “ Subordinated Loan Agreement”) with KBC Bank NV (as the “Subordinated Loan Provider”on or before the Closing Date, pursuant to which the Subordinated Loan Provider will agree to make available to the Issuer a subordinated loan (the “Subordinated Loan”), the proceeds of which will be used to (i) pay part of the Initial Purchase Price, and (ii) credit the Reserve Account up to the Reserve Account Required Amount.

More Definitions of Reserve Account Required Amount

Reserve Account Required Amount means (a) on the Closing Date, the Reserve Account Initial Deposit and (b) with respect to any Payment Date, an amount equal to the lesser of $3,205,129.83 and the aggregate Outstanding Amount of the Notes.

Reserve Account Required Amount means, on any date of determination, the product of (a) the Required Cash Reserve Percentage and (b) the Eligible Pool Balance.

Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) $[ ] (i.e., [ ]% of the Cutoff Date Pool Balance) and (ii) the Note Balance.

Reserve Account Required Amount. “Senior Interest” or “Subordinate Interest”.

Reserve Account Required Amount. The lesser of $7,711,088.72 and the Outstanding Amount of the Notes.

Reserve Account Required Amount means, as of each Distribution Date occurring prior to the Amended and Restated Closing Date, the amount necessary to pay projected Expenses and Debt Service for the following twelve (12) month period, as determined by the Administrative Agent in its reasonable discretion.

Reserve Account Required Amount or “RPA Deferred Purchase Price” or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or