Coverage of Required Amount Sample Clauses
Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period.
(b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly ...
Coverage of Required Amount. On or before each Transfer Date, the Servicer will determine the amount (the "Required Amount") by which (A) the sum of (i) the Class A Note Interest Requirement, (ii) the Class B Note Interest Requirement and (iii) the Net Class C Note Interest Requirement plus (B) the Net Investor Servicing Fee for the prior Monthly Period plus (C) the Net Investor Servicing Fee, if any, due but not paid on any prior Transfer Date plus, (D) the Investor Default Amount for the prior Monthly Period, if any, exceeds the amount of Available Investor Finance Charge Collections for such Monthly Period. In the event the Required Amount is greater than zero, the Servicer shall give written notice to the Trustee of such positive Required Amount for such Transfer Date and all or a portion of the Shared Excess Finance Charge Collections allocable to Series 2003-6 with respect to such Transfer Date in an amount equal to the Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date in accordance with the priority of payments set forth in subsection 4.9(a).
Coverage of Required Amount. 30 SECTION 4.11
Coverage of Required Amount for the Series 1999-2 Securities.
(a) To the extent that any amounts are on deposit in the Excess Funding Account or Pre-Funding Account on any Business Day, the Servicer shall apply, in the manner specified for application of Available Series 1999-2 Finance Charge Collections in subsections 4.9(a)(i) through (xi) of the Agreement, Transferor Finance Charge Collections in an amount equal to the sum of (i) the excess of (x) the product of (a) the Base Rate, (b) the amounts on deposit in the Excess Funding Account and the Pre-Funding Account and (c) the number of days elapsed since the previous Business Day divided by the actual number of days in such year over (y) the aggregate amount of all earnings since the previous Business Day available from the Cash Equivalents in which funds on deposit in the Excess Funding Account and the Pre-Funding Account are invested (the "Negative Carry Amount") and (ii) the amount of unreimbursed claims on the Policy that have not been deposited in the Interest Funding Account pursuant to subsection 4.9(a)(vii) of the Agreement prior to such Business Day.
(b) To the extent that on any Business Day payments are being made pursuant to any of subsections 4.9(a)(i) through (xi) of the Agreement, respectively, and the full amount to be paid pursuant to any such subsection receiving payments on such Business Day is not paid in full on such Business Day, the Servicer shall apply, in the manner specified for application of Available Series 1999-2 Finance Charge Collections in subsections 4.9(a)(i) through (xi) of the Agreement, all or a portion of the Excess Finance Charge Collections from other Series with respect to such Business Day allocable to the Series 1999-2 Securities in an amount equal to the excess of the full amount to be allocated or paid pursuant to the applicable subsection over the amount applied with respect thereto from Available Series 1999-2 Finance Charge Collections and Transferor Finance Charge Collections on such Business Day (the "Required Amount"). To the extent that on any Business Day on and after the day on which the Invested Amount is paid in full but prior to the Series 1999-2 Termination Date there are unreimbursed claims on the Policy, the Servicer shall apply, in the manner specified for application of Available Series 1999-2 Finance Charge Collections in subsection 4.9(a)(vii) of the Agreement all or a portion of the Excess Finance Charge Collections from other Series with respect to such Business Da...
Coverage of Required Amount. 31 SECTION 4.11 Monthly Payments..................................33 SECTION 4.12 Series Investor Charge-Offs.......................37 SECTION 4.13
Coverage of Required Amount. 29 SECTION 4.9 Monthly Payments . . . . . . . . . . . . . . . . . 30 SECTION 4.10 Investor Charge-Offs . . . . . . . . . . . . . . . 34 SECTION 4.11
Coverage of Required Amount. 65 5.10 Payments Of Amounts Representing Finance Charge Collections..............67 5.11 Payments Of Amounts Representing Available Investor Principal Collections...................................................................70 5.12 Payment Of Investor Finance Amounts......................................74 5.13 Investor Charge-Offs.....................................................75 5.14 Investor Indemnity Amount................................................77
Coverage of Required Amount. 38 SECTION 4.9 Monthly Allocations.......................................... 41 SECTION 4.10 Investor Charge-Offs......................................... 45 SECTION 4.11 Excess Spread and Shared Excess Yield Collections............................ 48 SECTION 4.12 Reallocated Principal Collections............................ 50 SECTION 4.13 Shared Principal Collections................................. 51 SECTION 4.14 Shared Excess Yield Collections.............................. 52 SECTION 4.15 Interest Funding Account..................................... 52 SECTION 4.16 Principal Funding Account.................................... 54 SECTION 4.17
Coverage of Required Amount. On or before each Distribution Date, the Receivables Trustee (acting on the advice of the Servicer) shall determine the amount (the ‘‘Class A Required Amount’’), if any, by which the sum of:
Coverage of Required Amount. On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date exceeds the Class A Available Funds for the related Monthly Period.