Available Income definition

Available Income means the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

Available Income means, on each Distribution Date, an amount calculated for each of the Paired Trusts as all funds on deposit in the applicable trust on that Distribution Date after that trust has (i) set aside an amount equal to the Fee Deduction Amount to pay fees and expenses, (ii) paid or received a payment from the other Paired Trust under the income distribution agreement and (iii) acquired treasuries with an aggregate purchase price equal to the Aggregate Par Amount of its shares as of that Distribution Date. If the Available Income of either Paired Trust for any Calculation Period is a negative number, then the Available Income of that trust on the related Distribution Date will be equal to zero and that trust will not make any payments under the income distribution agreement or any Quarterly Distribution to its shareholders on that Distribution Date unless it was entitled to and received a portion of the other Paired Trust’s Available Income. The administrative agent is required to use commercially reasonable efforts to direct the acquisition of identical assets for each of the Paired Trusts; accordingly, it is unlikely that there would be a significant difference in the income accrued for each of the Paired Trusts during any Calculation Period.

Available Income means when the person has a legal interest in a liquidated sum and has the legal ability to make that sum available for support and maintenance.

Examples of Available Income in a sentence

• If the Up-MACRO Holding Trust has no Up-MACRO Available Income on such Distribution Date, then the Up-MACRO Holding Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts.

• If the Down-MACRO Holding Trust has no Down-MACRO Available Income on such Distribution Date, then the Down-MACRO Holding Trust shall not be required to make any payment under the Income Distribution Agreement on such Distribution Date or on any subsequent date and no interest shall accrue on any such unpaid amounts.

• Available Income, for any Quarterly Collection Period, means the total of the above amounts for the three Monthly Collection Periods that comprise that Quarterly Collection Period.

• If the Tax Account has been opened, on each Determination Date the Manager must direct the Issuer in writing to set aside into the Tax Account on the immediately following Payment Date the required Tax Amount and Tax Shortfall, as determined by the Manager, from Total Available Income in accordance with Section 11.12 (“Application of Total Available Income (prior to an Event of Default and enforcement of the General Security Deed)”).

• On each Distribution Date following the service of a Notice to Pay on the Covered Bond Guarantor (but prior to the service of a Covered Bond Guarantee Acceleration Notice), the Covered Bond Guarantor will apply the Available Income Amount and the Available Principal Amount in accordance with the Guarantee Priority of Payments.

More Definitions of Available Income

Available Income means gross income, less:

Available Income means the Up Available Income or the Down Available Income, as applicable.

Available Income means, all Income other than (a) the Underlying Purchased Loan Reserves, and (b) Qualified Servicing Expenses.

Available Income means, on each Distribution Date, an amount calculated for each of the Paired Holding Trusts as all funds on deposit in the applicable holding trust on that Distribution Date after that trust has (i) set aside an amount equal to the Fee Deduction Amount to pay fees and expenses, (i) paid or received a payment from the other Paired Holding Trust under the income distribution agreement and (iii) acquired treasuries with an aggregate purchase price equal to the aggregate par amount of its shares as of that Distribution Date.

Available Income means with respect to any Calculation Period, the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

Available Income means income that is actually available to the family or the assistance unit, and income in which the family or the assistance unit has a legal interest in a liquidated sum and has the legal ability to make such sum available for support and maintenance. When an assistance unit includes a dependent child who resides with a parent or a minor sibling, the Department shall consider the income of the parent and minor sibling as available income to the assistance unit.

Available Income means the total income, before taxes or other deductions, of each person residing within the same household, except, to the extent allowed by federal law, the earnings of a student under nineteen years of age enrolled in a secondary school or at the equivalent level of vocational or technical training, plus or minus such credits or deductions as may be prescribed by the family support division [of family services] by regulations for the sole purpose of complying with federal laws or regulations relating to this state's eligibility to receive federal funds for aid to families with dependent children payments, and such credits or deductions as may otherwise be prescribed by law;