Class C Reserve Account Percentage definition

Class C Reserve Account Percentage means, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal to 4.50%, (ii) 1.25%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.50% and greater than or equal to 4.00%, (iii) 2.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Available Funds Percentage is less than 3.50% and greater than or equal to 3.00%, (v) 3.50%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 3.00% and greater than or equal to 2.50%, (vi) 4.50%, if the Quarterly Excess Available Funds Percentage is less than 2.50% and greater than or equal to 2.00%, and (vii) 6.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 2.00%.

Class C Reserve Account Percentage means, for any Monthly Period, (i) 1.50%, if the Quarterly Excess Spread Percentage for such Monthly Period is greater than or equal to 4.50%, (ii) 2.50%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 4.50% and greater than or equal to 4.00%, (iii) 3.00%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 4.00% and greater than or equal to 3.50%, (iv) 4.00%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 3.50% and greater than or equal to 3.00%, (v) 5.50%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 3.00% and greater than or equal to 2.50%, (vi) 6.50%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 2.50% and greater than or equal to 2.00% and (vii) 7.00%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 2.00%.

Class C Reserve Account Percentage means 0.00%.

Examples of Class C Reserve Account Percentage in a sentence

• Notwithstanding the foregoing, if an Early Amortization Event has occurred and is continuing, or an Event of Default with respect to the Series 2018-1 Notes has occurred and is continuing, the Class C Reserve Account Percentage shall no longer be subject to reduction.

• 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 2018-1 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 2019-3 Notes has occurred and is continuing, the Class C Reserve Account Percentage shall no longer be subject to reduction.

• 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 2008-1 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 2007-2 Notes has occurred and is continuing, the Class C Reserve Account Percentage shall no longer be subject to reduction.

More Definitions of Class C Reserve Account Percentage

Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage).

Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is:Class C Reserve Account Percentage:(a) 4.50% or greater0%(b) 4.00% to 4.49%1.25%(c) 3.50% to 3.99%2.00%(d) 3.00% to 3.49%2.75%(e) 2.50% to 2.99%3.50%(f) 2.00% to 2.49%4.50%(g) less than 2.00%, or an Early Redemption Event or Event of Default for the Class C(2014-1) Notes has occurred and is continuing.6.00%

Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: Class C Reserve Account Percentage: The three-month rolling average Excess Spread Percentage is:

Class C Reserve Account Percentage means, (i) zero, if

Class C Reserve Account Percentage means, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal

Class C Reserve Account Percentage for each Tranche of Class C Notes has the meaning set forth in the Terms Document for such Tranche.

Class C Reserve Account Percentage means, with respect to any Transfer Date,