Aggregate Undivided Interest definition

Aggregate Undivided Interest means, at any time, the sum of all of the Undivided Interests owned by Purchaser at such time.
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Aggregate Undivided Interest means, as of any date, an undivided floating fractional ownership interest (owned ratably by the Purchasers) in the Receivables comprising the Receivables Pool, which shall be equal to a fraction, the numerator of which is the sum of (i) Aggregate Net Investment and (ii) 25% of the Aggregate Net Investment and the denominator of which is the Net Pool Balance and which can, in no event, exceed 100%.
Sample 1

Examples of Aggregate Undivided Interest in a sentence

  • The Aggregate Undivided Interest (expressed as a percentage) would exceed 100% (the "Aggregate Undivided Interest Limit").

  • The Seller shall pay to the Master Servicer out of Collected Interest a fee (the "Servicing Fee") for each day until the first Business Day after the Commitment Termination Date on which the Aggregate Undivided Interest shall be reduced to zero and all obligations shall have been fully paid and performed.

  • Memorandum from Deputy Secretary of Defense Paul Wolfowitz, to the Secretary of the Navy (July 7, 2004) (on file with the Department of Defense) available at www.defenselink.mil/news/Jul2004/d20040707review.pdf.

  • The accrued Servicing Fee shall be paid in arrears on each Settlement Date and on the first Business Day after the Commitment Termination Date on which the Aggregate Undivided Interest shall be reduced to zero and all obligations shall have been fully paid and performed.

  • When Purchaser makes a Purchase it shall acquire and shall continue to maintain (at all times when the Aggregate Undivided Interest is not zero) a valid and perfected first priority undivided fractional interest to the extent of its Undivided Interest in each Receivable and Collections with respect thereto, free and clear of any Adverse Claim (other than any Adverse Claim arising solely as the result of any action taken by Purchaser or by the Agent).

Related to Aggregate Undivided Interest

  • Undivided Interest means the undivided interest in the Trust evidenced by an Investor Certificate.

  • Fractional Undivided Interest means the fractional undivided interest in a Trust that is represented by a Certificate relating to such Trust.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Note B Percentage Interest means a fraction, expressed as a percentage, the numerator of which is the Note B Principal Balance and the denominator of which is the sum of the Note A Principal Balance and the Note B Principal Balance.

  • Class A Percentage Interest means, as of any date, the percentage determined by dividing the number of Class A Units then held by a holder of Class A Units by the total number of Class A Units then outstanding.

  • Aggregate Noteholders’ Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Aggregate Class A Interest Distributable Amount as of such Distribution Date, (ii) the Aggregate Class B Interest Distributable Amount as of such Distribution Date, (iii) the Aggregate Class C Interest Distributable Amount as of such Distribution Date and (iv) the Aggregate Class D Interest Distributable Amount as of such Distribution Date.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Aggregate Class B Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class B Notes as of such Distribution Date and (ii) the Class B Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Aggregate Class C Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class C Notes as of such Distribution Date and (ii) the Class C Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Percentage Interest As to any Certificate, the percentage interest evidenced thereby in distributions required to be made on the related Class, such percentage interest being set forth on the face thereof or equal to the percentage obtained by dividing the Denomination of such Certificate by the aggregate of the Denominations of all Certificates of the same Class.

  • Aggregate Class A Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Note Class Interest Distributable Amount for each class of the Class A Notes as of such Distribution Date and (ii) the Class A Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Aggregate Subordinate Percentage As to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates and the denominator of which is the Pool Balance for such Distribution Date.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class B Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Aggregate Principal Balance means, with respect to any date of determination, the sum of the Principal Balances for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as of the date of determination.