Collateral Value Exclusions Sample Clauses
Collateral Value Exclusions. For purposes of calculating “Collateral Value” in respect of the Series 2013-VF2 Notes, the Collateral Value shall be zero for any Receivable that:
(i) is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Advance Ratio to be equal to or greater than 100.0%; provided, that this clause (i) shall not apply to any Receivable that is (a) attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement or (b) a Loan-Level Receivable;
(ii) is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Market Value Ratio to exceed 25.0%;
(iii) is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements to exceed 2.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(iv) is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement or a Low Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low Threshold Servicing Agreements to exceed 7.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(v) is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement, a Low Threshold Servicing Agreement, or a Middle Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receiv...
Collateral Value Exclusions. For purposes of calculating “Collateral Value” in respect of the Series 2013-VF1 Notes, the Collateral Value shall be zero for any Receivable that:
(i) is attributable to any Designated Pool to the extent that the related Receivable Balance, when added to the aggregate Receivable Balance already outstanding with respect to such Designated Pool, would cause the related Advance Ratio to be equal to or greater than 100%;
(ii) is not a Facility Eligible Receivable; or
(iii) is attributable to any Designated Pool to the extent that the related Receivable Balance, when added to the aggregate Receivable Balance already outstanding with respect to such Designated Pool, would cause the related Market Value Ratio to exceed 25%.
Collateral Value Exclusions. For purposes of calculating “
Collateral Value Exclusions. For purposes of calculating “Collateral Value” in respect of the Series 2019-VF1 Notes, the Collateral Value shall be zero for any Receivable that:
(i) is attributable to any Designated Pool to the extent that the related Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Pool, would cause the related Advance Ratio to be equal to or greater than 100%;
(ii) is not a Facility Eligible Receivable;
(iii) is attributable to any Designated Pool to the extent that the related Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Pool, would cause the related Market Value Ratio to exceed 25%;
(iv) is attributable to a Low Threshold Designated Pool;
(v) is an Escrow Advance Receivable or Corporate Advance Receivable for which an initial claim for reimbursement has been filed with ▇▇▇▇▇▇ Mae and for which related reimbursement proceeds have not been received by the Servicer from ▇▇▇▇▇▇ ▇▇▇ for more than 180 days following the final date under the ▇▇▇▇▇▇ Mae Guide on which a claim can be made therefor; or
(vi) is a Facility Eligible Receivable (or a portion thereof) to the extent that the Administrative Agent has determined in its sole discretion that a change has occurred in the ▇▇▇▇▇▇ ▇▇▇ Guide since the date hereof that materially and adversely affects the collectability thereof.
Collateral Value Exclusions. 13 SECTION 5. ADMINISTRATIVE AGENT...............................................................14 SECTION 6. SERIES RESERVE ACCOUNT...........................................................15 SECTION 7. PAYMENTS; NOTE BALANCE INCREASES; EARLY MATURITY; ADDITIONAL FUNDING CONDITIONS............................................16 SECTION 8. DETERMINATION OF NOTE INTEREST RATE. 17 SECTION 9. INCREASED COSTS............................................................................17