Common use of Required Amount Clause in Contracts

Required Amount. (a) With respect to each Distribution Date, on the related Determination Date the Servicer shall determine the amount (the "CLASS A REQUIRED AMOUNT"), if any, by which (a) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and any Class A Additional Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (iv) the Class A Servicing Fee for such Distribution Date, (v) any Class A Servicing Fee previously due but not paid to the Servicer, and (vi) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (b) the Class A Available Funds. In the event that the Class A Required Amount for

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)

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Required Amount. (a) With respect to each Distribution --------------- Date, on the related Determination Date Date, the Servicer shall determine the amount (the "CLASS Class A REQUIRED AMOUNTRequired Amount"), if any, by which (a) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and any Class A Additional Interest interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iv) the Class A Servicing Fee for such Distribution Date, (v) any Class A Servicing Fee previously due but not paid to the Servicer, and (vi) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (b) the Class A Available Funds. In the event that the [Class A A] Required Amount forfor such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Required Amount on the date of computation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)

Required Amount. (a) With respect to each Distribution Date, on the related Determination Date Date, the Servicer shall determine the amount (the "CLASS Class A REQUIRED AMOUNTRequired Amount"), if any, by which (a) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and any Class A Additional Interest interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iv) the Class A Servicing Fee for such Distribution Date, (v) any Class A Servicing Fee previously due but not paid to the Servicer, and (vi) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (b) the Class A Available Funds. In the event that the [Class A A] Required Amount forfor such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Required Amount on the date of computation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp)

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Required Amount. (a) With respect to each Distribution Date, on the related Determination Date Date, the Servicer shall determine the amount (the "CLASS Class A REQUIRED AMOUNTRequired Amount"), if any, by which (a) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and any Class A Additional Interest previously due but not paid to the Class A Certificateholders [or deposited to the Interest Funding Account] on a prior Distribution Date, (iv) the Class A Servicing Fee for such Distribution Date, (v) any Class A Servicing Fee previously due but not paid to the Servicer, and (vi) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (b) the Class A Available Funds. In the event that the [Class A A] Required Amount forfor such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Required Amount on the date of computation.

Appears in 1 contract

Samples: Asset Backed Securities Corp

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