Allocated Note Amount definition
Allocated Note Amount means, as of any date of determination, an amount equal to the greater of (x) zero and (y) with respect to any Contributed Asset in existence on the Closing Date, the pro rata portion of $1,300,000,000 allocated to such asset on the Closing Date based on such asset’s expected contribution to Retained Collections as estimated by the calculation of Transaction-adjusted Securitized Net Cash Flow (as such term is used in the Offering Memorandum dated June 28, 2019 for the Notes issued on the Closing Date) and (ii) any Securitized Asset arising or entered into after the Closing Date that is contributed by a Non-Securitization Entity, the Outstanding Principal Amount of the Notes allocated to such asset, on the date such asset was included in the Securitized Assets, based on such asset’s contribution to Retained Collections during the then-most recently ended four Quarterly Collection Periods (or in the case of the first four Quarterly Collection Periods, the estimated Retained Collections). With respect to any Securitized Asset that does not have a four Quarterly Collection Period operating period as of the date such asset was included in the Securitized Assets, such asset’s contribution to Retained Collections will equal, as applicable, either (a) in the case of any Franchise Document, the average of all payments or fees collected under the related agreements during the four Quarterly Collection Periods ending as of the date such agreement was included in the Securitized Assets, (b) in the case of any Franchisee Note, the aggregate scheduled payments due thereunder during the twelve-month period after such inclusion, (c) in the case of any Securitized Lease, the aggregate scheduled lease payments due to the applicable Securitization Entity in respect thereof during the twelve-month period after such inclusion (if applicable, net of the aggregate scheduled lease payments payable by such Securitization Entity in respect thereof during such period) or (d) in the case of a Securitized Company Restaurant, the average of the sum of (A) the Four-Week Fiscal Period Securitized Company Restaurant Accrual Profits Amount plus (B) the Company Restaurant IP License Fees plus (C) any Company Synthetic Lease Payments, in each case, with respect to such Securitized Company Restaurant during the twelve-month period after such inclusion.
Allocated Note Amount means, as of any date of determination, an amount determined by the Manager, in its reasonable discretion, and agreed to by the Control Party.
Allocated Note Amount for (x) any Tower Site will be equal to the sum of (i) $10,000 for each Tower Site plus (ii) the product of (A) a percentage determined as of the Closing Date with respect to such Tower Site based on the positive Annualized Run Rate Net Cash Flow generated by such Tower Site as of April 30, 2010, divided by the total Annualized Run Rate Net Cash Flow generated by all Tower Sites having a positive Annualized Run Rate Net Cash Flow as of April 30, 2010 and (B) the Outstanding principal balance of the Series 2010-1 Notes, the Series 2010-2 Notes, the Series 2010-3 Notes, the Series 2010-4 Notes, the Series 2010-5 Notes and the Series 2010-6 Notes as of the respective Closing Dates applicable thereto minus the aggregate amount allocated pursuant to clause (i) above and (y) for any Tower Site which is a replacement Tower Site in connection with a property substitution, the aggregate Allocated Note Amount of all Tower Sites replaced by such Tower Site. Schedule I sets forth the Allocated Note Amount for each Tower Site.
Examples of Allocated Note Amount in a sentence
The Allocated Note Amount determined by the Manager in such manner shall be (i) recorded in the books and records of the Manager and (ii) reported to the Servicer.
The Manager will recalculate the Allocated Note Amount attributable to each Franchise Asset and Real Estate Asset as of each date on which the Manager or other applicable Non-Securitization Entity is required to reacquire such assets in accordance with the Contribution Agreement or this Agreement.
Any price shall be deemed to constitute a fair price if it is an amount that is not less than the Allocated Note Amount for the Tenant Site Asset or Tenant Site Assets that constitute such Specially Serviced Tenant Site Asset or Specially Serviced Tenant Site Assets.
The Manager shall recalculate the Allocated Note Amount attributable to each Contributed Asset and any Securitized Asset arising or entered into after the Closing Date that is contributed by a Non-Securitization Entity as of each date on which the Manager or other applicable Non‑Securitization Entity is required to reacquire such assets in accordance with the Contribution Agreement or this Agreement.
Any price shall be deemed to constitute a fair price if it is an amount that is not less than the Allocated Note Amount for the Tower Site or Tower Sites that constitute such Specially Serviced Tower Site or Specially Serviced Tower Sites.
More Definitions of Allocated Note Amount
Allocated Note Amount means, as of any date of determination, an amount equal to the greater of (x) zero and (y) with respect to (i) any Contributed Asset in existence on the Original Closing Date, the pro rata portion of the amount of Notes issued on the Original Closing Date allocated to such asset on the Original Closing Date based on such asset’s contribution to Retained Collections during the four Quarterly Fiscal Periods ending as of the second Quarterly Fiscal Period of 2016 and (ii) any New Asset arising after the Original Closing Date, the Outstanding Principal Amount of the Notes allocated to such New Asset, on the date such asset was included in the Securitization Assets, based on such asset’s contribution to Retained Collections during the then-most recently ended four Quarterly Fiscal Periods. With respect to any such asset that does not have a four Quarterly Fiscal Period operating period as of the date such asset was included in the Securitization Assets, such asset’s deemed contribution to Retained Collections will equal the average amount per Securitization Asset of Retained Collections contributed by other Securitization Assets of the same type for the relevant period, as determined by the Manager in accordance with the Managing Standard, calculated as of the date such asset was included in the Securitization Assets.
Allocated Note Amount means, with respect to any Fiber Network Assets being replaced or otherwise disposed of, the product of (a) the percentage equivalent of a fraction, (i) the numerator of which is the excess, if any, of (x) the Aggregate Annualized Run Rate Revenue for the Determination Date immediately prior to giving effect to such replacement or other disposition over (y) the pro forma Aggregate Annualized Run Rate Revenue for such date after giving effect to such replacement or other disposition and (ii) the denominator of which is the Aggregate Annualized Run Rate Revenue for the Determination Date immediately prior to giving effect to such replacement or other disposition and (b) the aggregate outstanding principal amount of the Notes on such date of such disposition.
Allocated Note Amount shall have the meaning ascribed to it in the applicable Indenture Supplement.
Allocated Note Amount means the sum of:
Allocated Note Amount means, with respect to any Fiber Network Assets or Customer Agreement being replaced or otherwise disposed of, the product of (a) the percentage equivalent of a fraction, (i) the numerator of which is the excess, if any, of (x) the Aggregate Annualized Net Cash Flow as of the Determination Date immediately prior to giving effect to such replacement or other disposition over (y) the pro forma Aggregate Annualized Net Cash Flow for such date after giving effect to such replacement or other disposition and (ii) the denominator of which is the Aggregate Annualized Net Cash Flow as of the Determination Date immediately prior to giving effect to such replacement or other disposition and (b) the aggregate outstanding principal amount of the Notes on such date of such disposition.
Allocated Note Amount means, as of any date of determination, an amount equal to the greater of (x) zero and (y) with respect to (i) any Franchise Asset or Real Estate Asset in existence on the Closing Date, the pro rata portion of $1,400,000,000 allocated to such asset on the Closing Date based on such asset’s contribution to Retained Collections during the four Quarterly Fiscal Periods ending as of the second Quarterly Fiscal Period of 2014 and (ii) any Franchise Asset or Real Estate Asset arising after the Closing Date, the Outstanding Principal Amount of the Notes allocated to such asset, on the date such asset was included in the Collateral, based on such asset’s contribution to Retained Collections during the then-most recently ended four Quarterly Fiscal Periods. With respect to any Franchise Asset or Real Estate Asset that does not have a four Quarterly Fiscal Period operating period as of the date such asset was included in the Collateral, such asset’s contribution to Retained Collections will equal (a) in the case of a New Franchise Agreement, the average of all collected Franchisee Payments under Franchise Agreements during the four Quarterly Fiscal Periods ending as of the date such Franchise Agreement was included in the Collateral, (b) in the case of a New Franchisee Note or Equipment Lease, the aggregate scheduled payments due thereunder during the twelve-month period after such inclusion and (c) in the case of any Real Estate Asset, the aggregate scheduled lease payments due to the applicable Franchise Entity in respect thereof during the twelve-month period after such inclusion (if applicable, net of the aggregate scheduled lease payments payable by such Franchise Entity in respect thereof during such period).
Allocated Note Amount means for (x) any Tower Site as of any date of determination $10,000 per Tower Site with the balance of the aggregate principal balance of the Notes Outstanding on the Initial Closing Date allocated to Tower Sites having a positive Annualized Run Rate Net Cash Flow as of January 2007, based on each such Tower Site’s share of the positive Annualized Run Rate Net Cash Flow as of such date for all Tower Sites having a positive Annualized Run Rate Net Cash Flow as of such date, and (y) for any Tower Site which is a replacement Site in connection with a property substitution, the aggregate Allocated Note Amount of all Tower Sites replaced by such Tower Site. In connection with the issuance of Additional Notes or in connection with the addition of Additional Tower Sites, the Allocated Note Amount for each Tower Site will be recalculated by the Manager using similar methodology to that described in the preceding sentence.