Deficiency Amount. With respect to each Payment Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Payment Date; any Rated Variable Funding Increased Costs Amounts for such Payment Date; (iii) the Noteholders' Monthly Servicing Fee for such Payment Date, unless waived; and (iv) the sum of the Investor Defaulted Amount and the Monthly Dilution Amount for such Payment Date (such sum being the "Required Amount" for that Payment Date), exceeds (b) the sum of (i) the Investor Non-Principal Collections for such Payment Date plus any Investment Proceeds, if any, with respect to such Payment Date; and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.7(a) to cover any portion of the amount, if any, by which the amount of clause (a) exceeds the amount of clause (b)(i).
Appears in 2 contracts
Sources: Indenture (Wodfi LLC), Indenture Supplement (Wodfi LLC)
Deficiency Amount. With respect to each Payment Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which:
(a) the sum of of:
(i) Monthly Interest for such Payment Distribution Date; ,
(ii) any Rated Variable Funding Increased Costs Amounts for such Payment Monthly Interest previously due but not distributed with respect to the Certificates on a prior Distribution Date; ,
(iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due (to the Noteholders' Monthly extent permitted under applicable law) but not distributed on the Certificates on a prior Distribution Date,
(iv) the Net Servicing Fee for such Payment Distribution Date,
(v) the Investor Default Amount, if any, for such Distribution Date, unless waived; and and
(ivvi) the sum Series 2002-1 Investor Allocation Percentage of the Investor Defaulted Amount and amount of any Adjustment Payment required to be deposited in the Monthly Dilution Amount for Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Payment Date (such sum being the "Required Amount" for that Payment Determination Date), exceeds
, (b) the sum of of:
(i) the Investor Non-Principal Collections for such Payment Date plus any Investment Proceeds, if any, Proceeds with respect to such Payment Distribution Date; and , and
(ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.7(a4.07(a) hereof to cover any portion of the amount, if any, by which the amount of clause (a) exceeds the amount of clause (b)(i).
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)
Deficiency Amount. With respect to each Payment Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which:
(a) the sum of of:
(i) Monthly Interest for such Payment Distribution Date; ,
(ii) any Rated Variable Funding Increased Costs Amounts for such Payment Monthly Interest previously due but not distributed with respect to the Certificates on a prior Distribution Date; ,
(iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due (to the Noteholders' Monthly extent permitted under applicable law) but not distributed on the Certificates on a prior Distribution Date,
(iv) the Net Servicing Fee for such Payment Distribution Date,
(v) the Investor Default Amount, if any, for such Distribution Date, unless waived; and and
(ivvi) the sum Series 1997-1 Investor Allocation Percentage of the Investor Defaulted Amount and amount of any Adjustment Payment required to be deposited in the Monthly Dilution Amount for Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Payment Date (such sum being the "Required Amount" for that Payment Determination Date), exceeds
, (b) the sum of of:
(i) the Investor Non-Principal Collections for such Payment Date plus any Investment Proceeds, if any, Proceeds with respect to such Payment Distribution Date; and , and
(ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.7(a4.07(a) hereof to cover any portion of the amount, if any, by which the amount of clause (a) exceeds the amount of clause (b)(i).
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)
Deficiency Amount. With respect to each Payment Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which
(a) the sum of (i) Monthly Interest for such Payment Date; (ii) any Rated Variable Funding Increased Costs Amounts for such Payment Date; (iii) the Noteholders' Monthly Servicing Fee for such Payment Date, unless waived; and (iv) the sum of the Investor Defaulted Amount and the Monthly Dilution Amount for such Payment Date (such sum being the "Required Amount" for that Payment Date), exceeds
(b) the sum of (i) the Investor Non-Principal Collections for such Payment Date plus any Investment Proceeds, if any, with respect to such Payment Date; and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.7(a) to cover any portion of the amount, if any, by which the amount of clause (a) exceeds the amount of clause (b)(i).
Appears in 1 contract
Sources: Indenture (Wodfi LLC)
Deficiency Amount. With respect to each Payment Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which
which (a) the sum of (i) Monthly Interest for such Payment Date; , (ii) any Rated Variable Funding Increased Costs Amounts for such Monthly Interest previously due but not distributed to the Series 200 _ - _ Noteholders on a prior Payment Date; Date (and interest thereon at the applicable rate), (iii) the Noteholders' Noteholders Monthly Servicing Fee for such Payment Date, unless waived; and (iv) the sum of the Investor Defaulted Amount and the Monthly Dilution Amount Series 200 _ - _ Noteholder Default Amount, if any, for such Payment Date (such sum being the "Required Amount" for that Payment Date), exceeds
exceeds (b) the sum of (i) the Investor Noteholder Non-Principal Collections for such Payment Date plus any Investment Proceeds, if any, Proceeds with respect to such Payment Date; Date and (ii) the amount of funds in the Reserve Fund Account which are available pursuant to Section 4.7(a4.08(a) to cover any portion of the amountDeficiency Amount. With respect to a Payment Date and the preceding Determination Date, if any, the lesser of the Deficiency Amount as determined by which the amount of clause (a) exceeds Servicer on such Determination Date and the amount of clause (b)(i)Series 200 _ - _ Available Subordinated Amount for such Determination Date shall be the "Required Subordination Draw Amount".
Appears in 1 contract