Available Funds Shortfall definition

Available Funds Shortfall means, for any Payment Date and the related Collection Period, the positive difference, if any, of (i) the amount necessary to make all distributions required to be made pursuant to clauses (i) through (iv) of Section 2.08 over (ii) Collections on deposit in the Collection Account, to the extent received during or in respect of such Collection Period.

Available Funds Shortfall. As defined in Section 3.03(b)(ii)(A).

Available Funds Shortfall. Any of the Group I Available Funds Shortfall or the Group II Available Funds Shortfall.

Examples of Available Funds Shortfall in a sentence

• The Notice shall constitute a claim for an Insured Payment pursuant to the Policy for an amount equal to the Available Funds Shortfall.

• Assuming α=0.05, exponential population change (i.e., constant percentage change each year), a 2-tailed test, use of the t-statistic, and CV1 proportional to 1/√A, the probability (power) to detect a 5% decline per year after 10 years is 34%.

• If a Corporate Trust Officer of the ILFT Indenture Trustee at any time has actual knowledge that an ILFT Available Funds Shortfall will exist on the applicable Payment Date, the ILFT Indenture Trustee shall immediately notify the ILFT Series Enhancer and its Fiscal Agent (as defined in the ILFT Policy), or its designee, by telephone (promptly confirmed in writing by overnight mail or facsimile transmission), of the amount of such deficiency.

• On each Determination Date, the ILFT Indenture Trustee shall determine, with respect to the immediately following Payment Date, based solely on the information contained in the Servicer Report, whether there exists an ILFT Available Funds Shortfall.

• Cash Reserve Target Amounts Class X Notes Reserved AmountOn each Payment Date during the Revolving Period and the Amortisation Period, the Cash Reserve Released Amount will form part of the Interest Available Funds, provided that this amount shall only be available for covering any Interest Available Funds Shortfall.

More Definitions of Available Funds Shortfall

Available Funds Shortfall. With respect to any Class of Notes and any Payment Date, the sum of (a) the excess, if any, of (i) the amount that would have been the Current Interest for such Class had the Interest Rate for such Class been determined without regard to the Available Funds Rate over (ii) the actual amount of Current Interest for such Class, plus (b) any excess described in clause (a) above and interest described in clause (c) below for any prior Payment Date that remains unpaid, plus (c) interest accrued during the Accrual Period related to such Payment Date on the amount described in clause (b) above at the Interest Rate applicable to such Class, determined without regard to the Available Funds Rate.

Available Funds Shortfall. As defined in Section 7.03(b)(ii)(A).

Available Funds Shortfall. For the Class B-2 Notes and any Payment Date, the sum of:

Available Funds Shortfall. A Fixed Rate Group Available Funds Shortfall or Adjustable Rate Group Available Funds Shortfall, as the case may be.

Available Funds Shortfall. With respect to any Distribution Date, an amount equal to the excess of the Insured Distribution Amount for such Distribution Date over the Available Funds for such Distribution Date available for distribution in respect of such Insured Distribution Amount.

Available Funds Shortfall. As to any Remittance Date, the amount, if any, by which the Available Distribution Amount is less than the amount required to be distributed on the Certificates on such Remittance Date pursuant to clauses A(i) through (x) or clauses B(i) through (x), as applicable, of Section 6.01(a).

Available Funds Shortfall shall have the meaning specified in Section 4.6(b).