Common use of Coverage of Required Amount Clause in Contracts

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.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Mbna America Bank National Association), Supplement to Pooling and Servicing Agreement (Mbna America Bank National Association)