Required Amounts Clause Samples
The "Required Amounts" clause defines the specific quantities, values, or thresholds that must be maintained or provided under an agreement. In practice, this clause might set minimum insurance coverage levels, required financial reserves, or inventory amounts that a party must uphold throughout the contract term. Its core function is to ensure that certain critical standards are consistently met, thereby reducing risk and providing clear benchmarks for compliance.
Required Amounts. (a) On each Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which (x) the sum of (i) Class A Monthly Interest for the following 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 the following Distribution Date and any Class A Additional Interest previously due but not paid to Class A Certificateholders on a prior Distribution Date, (iv) the Class A Allocable Amount, if any, for such Distribution Date and (v) if Prof▇▇▇▇'▇, ▇▇c. is no longer the Servicer, the ClassA Servicing Fee for the related Distribution Date and the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date exceeds (y) the ClassA Available Funds with respect to the preceding Monthly Period. In the event that the Class A Required Amount for such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount on the date of computation and all or a portion of the Excess Spread and the Shared Excess Finance Charge Collections allocable to Series 1997-2 pursuant to Section 4.1(i) with respect to the related Monthly Period in an amount equal to the Class A Required Amount for such Distribution Date shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.8(a). In the event that the Class A Required Amount for such Distribution Date exceeds the amount of the Excess Spread and the Shared Excess Finance Charge Collections allocable to Series 1997-2 with respect to the related Monthly Period, all or a portion of the Available Cash Collateral Amount with respect to such Distribution Date in an amount equal to such excess shall be applied to fund the Class A Required Amount. In the event that the Class A Required Amount for such Distribution Date exceeds the amount of the Excess Spread, the Shared Excess Finance Charge Collections allocable to Series 1997-2 with respect to the related Monthly Period and the Available Cash Collateral Amount with respect to such Distribution Date, all or a portion of the Reallocated Principal Collections with respect to such Monthly Period in an amount equal to such excess shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.9(a).
(b) On each Determination Date, the S...
Required Amounts. Section 4.6 Application of Class A Available Funds, Class B Available Funds, CTO Available Funds, Class D Available Funds and Collections of Principal Receivables........................................................................
Required Amounts. 5.06 Roll-over Group.....................................