Daily Calculations and Series Allocations Clause Samples

Daily Calculations and Series Allocations. On each Business Day, Servicer shall calculate the Series Collection Allocation Percentage for Series 1996-1 (and, if necessary for that calculation, the Required Receivables), the Carrying Cost Cash Required Amount and, during the Revolving Period and the Amortization Period, the Base Amount. On each Business Day during the Revolving Period or the Amortization Period, Servicer shall also determine whether the Net Invested Amount is greater than, equal to or less than the Base Amount. Pursuant to Section 4.3 of the Pooling Agreement, Servicer shall allocate the Series Collection Allocation Percentage of available funds received in the Master Collection Account since the preceding Business Day's allocation to Series 1996-1. The portion of funds so allocated, together with any funds released from the Equalization Account in accordance with Section 4.5 on that Business Day, are called the "Daily Series Collections."
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Daily Calculations and Series Allocations. On each Business Day, Servicer shall calculate the Carrying Cost Cash Reserve Amount and the Base Amount. On each Business Day which is not in an Early Amortization Period, Servicer shall also determine whether the Net Invested Amount is greater than, equal to or less than the Base Amount. On each Business Day, Servicer shall allocate to Series 1998-1 all Tricon Collections received in the Master Collection Account since the preceding Business Day. The funds allocated to Series 1998-1 in accordance with the preceding sentence, together with any funds released from the Equalization Account in accordance with Section 4.5 on that Business Day, are called the "Daily Series Collections".
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Daily Calculations and Series Allocations. (a) On each Test Date, the Servicer shall prepare and deliver to the Trustee and the Agent a Daily Report substantially in the form of Exhibit B (or such other form as may be satisfactory to the Servicer, the Trustee and the Agent). The Servicer shall also deliver a Daily Report in such form to the Trustee and the Agent on any other day for which the Agent has requested a Daily Report. The Agent shall not so request a Daily Report unless an Early Amortization Event has occurred or the Agent reasonably questions whether there has been a material change in the Base Amount since the most recent Test Date. (b) On each Business Day, the Servicer shall prepare and deliver to the Trustee and the Agent a Cash Flow Report substantially in the form of Exhibit C (or such other form as may be satisfactory to Servicer, Trustee and the Agent). (c) No other Series or Purchased Interest shall be issued so long as the Series 1996-1 Certificates are outstanding. As a consequence, the Series Collection Allocation Percentage Series 1996-1 shall be 100%, and all funds received in the Master Collection Account shall be allocated to Series 1996-1. All such funds received in the Master Collection Account on any Business Day, and any funds transferred on such day to the Master Collection Account from the Equalization Account, are herein called the "Daily Series Collections" for such day. (d) On each Business Day, Trustee shall allocate Daily Series Collections pursuant to Section 4.3 or 4.4 (as applicable) on the basis of the most recently delivered Daily Report, as supplemented by the Cash Flow Report (if any) for such day. Without limiting the foregoing, the parties shall assume that the Base Amount on any day shall not be less than the Base Amount shown in the most recent Daily Report. Notwithstanding such assumption, if on any Business Day (as a result of the delivery of a subsequent Daily Report or otherwise) the Agent determines that the Net Invested Amount exceeded the Base Amount on any day when the Trustee remitted funds to the Transferor, then Transferor shall immediately pay to Trustee, for deposit to the Equalization Account, an amount equal to such excess. Amounts not paid when due pursuant to the foregoing sentence shall bear interest at a rate of interest equal to 2% per annum above the Corporate Base Rate to the extent permitted by law. (e) The requirements of Section 3.2(f)(i) and Section 3.5(c) of the Pooling Agreement shall be waived on each date on which a Dail...
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Related to Daily Calculations and Series Allocations

  • Allocations The profits and losses of the Company shall be allocated to the Members in accordance with their Percentage Interests from time to time.

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.

  • Interest Rates Payments and Calculations (a) Interest Rates. From the Effective Date, all Obligations charged to the Loan Account with respect to the Loans shall, subject to Section 2.5(c)(ii), bear interest payable in cash on the Outstanding Amount at a rate per annum equal to ABR plus the Applicable Margin and shall be payable in accordance with Section 2.5(c).

  • Interest Calculations Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”).

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.