Bankruptcy Coverage. $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage pursuant to the second paragraph of this definition and (b) Bankruptcy Losses allocated to the Certificates. The Bankruptcy Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.
Bankruptcy Coverage. As of the Cut-Off Date, $100,000, and thereafter, the initial Bankruptcy Coverage amount, less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage pursuant to this definition and (b) Bankruptcy Losses allocated to the Certificates. The Bankruptcy Coverage may be reduced upon written confirmation from each Rating Agency that such reduction will not adversely affect the then current ratings assigned to the Certificates by each Rating Agency.
Bankruptcy Coverage. For any Distribution Date, an amount equal to the greater of (i)(x) $501,358.02, or such lesser amount as may be determined by the Depositor from time to time upon written confirmation from each Rating Agency that the use of such lesser amount will not adversely affect the then current ratings assigned to any Class of Certificates by such Rating Agency, minus (y) the aggregate amount of Bankruptcy Losses allocated to the Certificates prior to such date and (ii) zero.
Examples of Bankruptcy Coverage in a sentence
Special Hazard Losses in excess of the Special Hazard Coverage, Fraud Losses in excess of the Fraud Coverage and Bankruptcy Losses in excess of the Bankruptcy Coverage shall be allocated among the related Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
Special Hazard Losses in excess of the Special Hazard Coverage, Fraud Losses in excess of the Fraud Coverage and Bankruptcy Losses in excess of the Bankruptcy Coverage shall be allocated among the Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
The Bankruptcy Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies (determined in the case of the Insured Certificates, without giving effect to the Certificate Insurance Policy).
As of the Closing Date, the Bankruptcy Bond shall be in the amount of the Bankruptcy Coverage Initial Amount and any time thereafter be in the amount of the Current Bankruptcy Amount.
Special Hazard Losses on the Loans in excess of the Special Hazard Coverage, Fraud Losses on the Loans in excess of the Fraud Coverage and Bankruptcy Losses on the Loans in excess of the Bankruptcy Coverage shall be allocated among the Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
More Definitions of Bankruptcy Coverage
Bankruptcy Coverage. As of the Cut-Off Date, $150,000. Bankruptcy Coverage will be reduced, from time to time, by the amount of Bankruptcy Losses allocated to the Group II Certificates.
Bankruptcy Coverage. With respect to Loan Group I and Loan Group II, $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group I, Group II and Group C-B Certificates. With respect to Loan Group III, $100,000 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group III Certificates. The Bankruptcy Coverage for Loan Group I and Loan Group II and the Bankruptcy Coverage for Loan Group III may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the related Certificates by the Rating Agencies.
Bankruptcy Coverage. With respect to Loan Group I, $199,761 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group I Certificates. With respect to Loan Group II, $141,994 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to the third paragraph of this definition and (b) Bankruptcy Losses allocated to the Group II Certificates. The Bankruptcy Coverage for Loan Group I and the Bankruptcy Coverage for Loan Group II may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the related Certificates by the Rating Agencies.
Bankruptcy Coverage. With respect to Loan Group I and Loan Group II, $256,213 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to this definition and (b) Bankruptcy Losses allocated to the Group I and Group II Certificates. With respect to Loan Group III, Loan Group IV and Loan Group V, $170,178 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to this definition and (b) Bankruptcy Losses allocated to the Group III, Group IV, Group V, Group C-B, Class C-P and Class A-X Certificates. The Bankruptcy Coverage for Loan Group I and Loan Group II and the Bankruptcy Coverage for Loan Group III, Loan Group IV and Loan Group V may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies (determined in the case of each Class of Insured Certificates, without giving effect to the related Certificate Insurance Policy).
Bankruptcy Coverage. With respect to Loan Group I, Loan Group III and Loan Group IV, $178,131 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Groups pursuant to this definition and (b) Bankruptcy Losses allocated to the Group I-L, Group III-L, Group IV-L, Group C-B-L, Class A-P-L and Class A-X-L Regular Interests. With respect to Loan Group II, $111,972 less (a) any scheduled or permissible reduction in the amount of Bankruptcy Coverage for such Loan Group pursuant to this definition and (b) Bankruptcy Losses allocated to the Group II-L Regular Interests. The Bankruptcy Coverage for Loan Group II and the Bankruptcy Coverage for Loan Group I, Loan Group III and Loan Group IV may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.
Bankruptcy Coverage. As of the Cut-Off Date, $[_______]. Bankruptcy Coverage will be reduced, from time to time, by the amount of Bankruptcy Losses allocated to the Certificates.
Bankruptcy Coverage. The Group I Bankruptcy Coverage or the Group ------------------- II Bankruptcy Coverage, as applicable.