Collateral Required Amount definition
Examples of Collateral Required Amount in a sentence
In the event that the Collateral Required Amount for such Transfer Date is greater than zero, the Collections of Principal Receivables allocable to the Class D Certificates (after application to the Class A Required Amount and the Class B Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Required Amount.
If at any time while any Event of Default is continuing, the Administrative Agent determines that the Cash Collateral Required Amount is greater than zero, the Administrative Agent may make demand on the Borrowers to pay, and the Borrowers will be obligated to, upon such demand without any further notice or act, pay to the Administrative Agent the Cash Collateral Required Amount, which funds shall be deposited to the Cash Collateral Account as security for the LC Outstandings.
If at any time while any Event of Default is continuing, the Administrative Agent determines that the Cash Collateral Required Amount is greater than zero, the Administrative Agent may make demand on the Borrower to pay, and the Borrower will be obligated to, upon such demand without any further notice or act, pay to the Administrative Agent the Cash Collateral Required Amount, which funds shall be deposited to the Cash Collateral Account as security for the LC Outstandings.
In the event that the difference between (x) the Collateral Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to Section 4.7 on such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such excess Collateral Required Amount on the date of computation.
If on any Transfer Date, the Collateral Required Amount for the prior Collection Period exceeds the amounts allocated with respect thereto pursuant to subsection 4.11(f), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Default Amount and the Collateral Invested Amount for such Transfer Date (a "Collateral Investor Charge-Off").
If on any Transfer Date, the Collateral Required Amount for the prior Collection Period exceeds the amounts allocated with respect thereto pursuant to subsections 4.11(f) and 4.18(d), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Investor Default Amount and the Collateral Invested Amount for such Transfer Date (a "COLLATERAL INVESTOR CHARGE-OFF").
In the event that the Collateral Required Amount for any Distribution Date is greater than zero, the Servicer shall give written notice thereof to the Trustee on the date of computation.
On each Determination Date, the Servicer shall calculate the Cash Collateral Required Amount for the Collection Period during which such Determination Date occurs.
If, however, the scheduled payments under any of the Triad Contracts or Inter-Tel Contracts are, as a result of actions taken by the Servicer, increased and, as a result thereof, the amounts then on deposit in the Cash Collateral Account are less than the Cash Collateral Required Amount (after giving effect to such increased payments), the Servicer shall on the immediately following Distribution Date deposit the amount of such insufficiency into the Cash Collateral Account.