Examples of Class C Reserve Account Percentage in a sentence
The amount targeted to be on deposit in the Class C Reserve Account for any Payment Date will be an amount equal to the product of (i) the Class C Reserve Account Percentage for the related Monthly Period and (ii) the Initial Dollar Principal Amount; provided, however, that if an Early Amortization Event or Event of Default occurs with respect to the Series 2022-CRT2 Notes, the amount targeted to be on deposit will be the Outstanding Dollar Principal Amount of the Class C Notes.
Notwithstanding the foregoing, if an Early Amortization Event has occurred and is continuing, or an Event of Default with respect to the Series 2022-CRT2 Notes has occurred and is continuing, the Class C Reserve Account Percentage shall no longer be subject to reduction.