Available Subordinated Amount definition

Available Subordinated Amount means (a) for the first Determination Date after the Closing Date, an amount equal to the Required Subordinated Amount for the first Determination Date and (b) for any later Determination Date, an amount equal to the lesser of (i) the Required Subordinated Amount for that Determination Date and (ii) an amount equal to:

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Available Subordinated Amount if there is a Subordinate Class with respect to Class A, shall mean, on a Distribution Date, the sum of

Available Subordinated Amount means, with respect to any Series at any time of determination, an amount equal to the available subordinated amount specified in the related Supplement at such time.

Examples of Available Subordinated Amount in a sentence

• If there is a Subordinate Class with respect to Class A, the Holders of each Class B Investor Certificate, by their acceptance of such Investor Certificate, hereby subordinate, for the benefit of the Holders of Class A Investor Certificates, to the extent and in the manner set forth in Section 9, all of such Investor Certificateholders' right, title and interest in and to future distributions due on such Holders' Investor Certificates, but only to the extent of the Available Subordinated Amount.

• On each Payment Date, the Reallocated Principal Collections for that Payment Date will be applied in the following order of priority to reduce (a) the Available Subordinated Amount (after giving effect to any reductions of the Available Subordinated Amount under Section 4.2(b)(ii) and Section 4.3), (b) the Class D Invested Amount, (c) the Class C Invested Amount, and (d) the Class B Invested Amount.

• On any Determination Date, the Available Subordinated Amount for the next Payment Date will be less than the Required Subordinated Amount after giving effect to any payments to be made on that Payment Date, and continues unremedied for five Business Days after that Payment Date.

• On each Payment Date, the Reallocated Principal Collections for such Payment Date will be applied in the following order of priority to reduce (a) the Available Subordinated Amount (after giving effect to any reductions of the Available Subordinated Amount pursuant to Section 4.2(b)(ii) and Section 4.3), (b) the Class D Invested Amount, (c) the Class C Invested Amount, and (d) the Class B Invested Amount.

• If there is a Subordinate Class with respect to Class A, the Holders of each Class B Investor Certificate, by their acceptance of such Investor Certificate, hereby subordinate, for the benefit of the Holders of Class A Investor Certificates, to the extent and in the manner set forth in Section 9, all of such Investor Certificateholders’ right, title and interest in and to future distributions due on such Holders’ Investor Certificates, but only to the extent of the Available Subordinated Amount.

More Definitions of Available Subordinated Amount

Available Subordinated Amount for the first Determination Date shall mean an amount equal to the Required Subordinated Amount. The Available Subordinated Amount for any subsequent Determination Date shall mean an amount equal to (a) the lesser of (i) the Available Subordinated Amount for the preceding Determination Date, minus (A) the Required Subordination Draw Amount with respect to the preceding Distribution Date to the extent provided in Section 4.08, minus (B) withdrawals from the Reserve Fund pursuant to Section 4.08 on the preceding Distribution Date to make distributions pursuant to Section 4.06(a)(iv) (but excluding any other withdrawals from the Reserve Fund), plus (C) the portion of Excess Servicing for such preceding Distribution Date distributed to the Seller pursuant to Section 4.10(c), plus (D) the excess, if any, of the Required Subordinated Amount for such Determination Date over the Required Subordinated Amount for the immediately preceding Distribution Date due to an increase in the Subordination Factor and (ii) the product of the fractional equivalent of the Subordinated Percentage and the Invested Amount on such Determination Date, minus (b) in the case of clause (a)(i), the Incremental Subordinated Amount for such preceding Determination Date, plus (c) the Incremental Subordinated Amount for the current Determination Date, plus (d) the Subordinated Percentage of funds to be withdrawn from the Excess Funding Account on the succeeding Distribution Date and paid to the Seller or allocated to one or more Series; provided, however, that the Available Subordinated Amount may be increased on any Determination Date by the Seller, in its sole discretion, by notice to the Trustee on or before such Determination Date, so long as the cumulative amount of such increases does not exceed the lesser of (x) $5,555,555 or (y) 1.11% of the Invested Amount on such date; provided, however, that, once the Accumulation Period or any Early Amortization Period (other than an Early Amortization Period which has ended as described in clause (c) or clause (d) of the definition thereof in this Series Supplement) shall have commenced, the Available Subordinated Amount shall be calculated based on the Invested Amount as of the close of business on the day preceding such Accumulation Period or Early Amortization Period.

Available Subordinated Amount means, for any Tranche of Class A Notes, the Class A Available Subordinated Amount of Class B Notes, the Class A Available Subordinated Amount of Class C Notes or the Class A Available Subordinated Amount of Class D Notes, as applicable, for such Tranche; for any Tranche of Class B Notes, the Class B Available Subordinated Amount of Class C Notes or the Class B Available Subordinated Amount of Class D Notes, as applicable, for such Tranche; and for any Tranche of Class C Notes, the Class C Available Subordinated Amount of Class D Notes for such Tranche.

Available Subordinated Amount means, on any date of determination, with respect to the Series 2010-3 Notes, the Series 2010-3 Available Subordinated Amount, and with respect to each other Group VII Series of Notes, the amount specified with respect to such Series of Notes in the definition of “Available Subordinated Amount” in the applicable Series Supplement.

Available Subordinated Amount means, with respect to any Payment Date and any Group, an amount equal to the product of (i) the Transferor’s Allocation for such Payment Date and (ii) the Available Subordinated Percentage.

Available Subordinated Amount for the first Determination Date shall mean an amount equal to the Required Subordinated Amount. The Available Subordinated Amount for any subsequent Determination Date shall mean an amount equal to the sum of

Available Subordinated Amount for any date of determination during the period from the Closing Date through the first Distribution Date shall mean an amount equal to the Required Subordinated Amount on such date of determination. The Available Subordinated Amount for any subsequent date of determination shall mean an amount equal to the sum of:

Available Subordinated Amount has, for each Series, the meaning specified in the related Indenture Supplement.