Available Subordinated Amount Sample Clauses

Available Subordinated Amount. (a) On each Distribution Date, the Servicer will apply, or cause the Indenture Trustee by written instruction to the Indenture Trustee to withdraw the Available Transferor Collections on deposit in the Collection Account with respect to such Distribution Date and apply, such amounts to the extent necessary on such Distribution Date in accordance with Section 4.04(b)(ii). The amount of any such Available Transferor Collections so applied on any Distribution Date will reduce the Available Subordinated Amount by the amount so applied. The balance of Available Transferor Collections on deposit in the Collection Account on any Distribution Date, after giving effect to any distributions or deposits thereof in accordance with Section 4.04(b)(ii), will be distributed by the Indenture Trustee, at the written direction of the Servicer, to the Owner Trustee for distribution to the holders of the Transferor Interest in accordance with the Trust Agreement, but only to the extent that the Transferor Amount (determined after giving effect to any Principal Receivables or, if applicable, Interests in Other Floorplan Assets transferred to the Issuer on such Distribution Date) exceeds the Required Transferor Amount for the immediately preceding Determination Date. In addition, during an Early Amortization Period, Available Transferor Collections, to the extent of the Available Subordinated Amount, will be available for distribution in accordance with Section 4.04(d)(iii). However, the amount of any such Available Transferor Collections so applied on any Distribution Date will not reduce the Available Subordinated Amount by the amount so applied.
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Available Subordinated Amount. (a) If an Early Amortization Period begins, Servicer shall promptly calculate the Available Subordinated Amount as of the Early Amortization Calculation Date and report such amount in the Daily Report for the first day in the Early Amortization Period. Servicer shall also calculate the Available Subordinated Amount as of each Cut-Off Date falling in the Early Amortization Period, such calculation to be reflected in the related Monthly Report.
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Available Subordinated Amount. (a) If a Group Amortization Period begins, Servicer shall promptly calculate the Deferred Portion as of the Group Amortization Calculation Date and report such amount in the Daily Report for the first day in the Group Amortization Period. The Available Subordinated Amount as of the Group Amortization Calculation Date shall be equal to the Deferred Portion as so calculated by Servicer. Servicer shall also calculate the Available Subordinated Amount as of each Cut-Off Date falling in the Group Amortization Period, such calculation to be reflected in the related Monthly Report.
Sample 1
Available Subordinated Amount. If a Group Amortization Period occurs, Servicer shall calculate the Available Subordinated Amount pursuant to Section 4.6 of the Series 1996-2 Supplement, and the provisions of Sections 4.7 and 4.8 of the Series 1996-2 Supplement shall apply.
Sample 1

Related to Available Subordinated Amount

  • Original Subordinated Percentage The Original Subordinated Percentage is 3.20668095%.

  • Application of Available Finance Charge Collections and Available Principal Collections On or before each Transfer Date, the Servicer shall instruct the Indenture Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw and the Indenture Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or related Distribution Date, as applicable, to the extent of available funds, the amount required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account as follows:

  • Senior Subordinated Notes The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the Borrower and the holders of the Senior Subordinated Notes, and all Obligations are within the definition of "Senior Debt" included in such subordination provisions.

  • Designation, Amount and Par Value The series of preferred stock shall be designated as the Series D 5% Convertible Preferred Stock (the "Preferred Stock"), and the number of shares so designated and authorized shall be Three Thousand (3,000). Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value of $1,000 per share (the "Stated Value").

  • Adjustments to Required Subordinated Percentages and Amount (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2015-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

  • Payments on Subordinated Debt The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

  • No Senior Subordinated Debt The Company will not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt of the Company and senior in any respect in right of payment to the Notes. No Guarantor will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to the Senior Debt of such Guarantor and senior in any respect in right of payment to such Guarantor's Note Guarantee.

  • Date and Denomination of Notes; Payments of Interest and Defaulted Amounts (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

  • Reallocated Investor Finance Charge Collections (a) That portion of Group I Investor Finance Charge Collections for any Transfer Date equal to the amount of Reallocated Investor Finance Charge Collections for such Transfer Date will be allocated to Series 1997-1 and will be distributed as set forth in this Supplement.

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

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