Commingling Amount definition
Commingling Amount means an amount calculated quarterly by the Issuer (or the Master Servicer, as the case may be) equal to the expected aggregate amount of principal monthly collections and recoveries calculated in respect of the next following 1 month and considering a 5% constant prepayment ratio per annum, or any other higher amount designated as such by the Issuer (or the Master Servicer, as the case may be) and notified to the Rating Agency.
Commingling Amount means (a) if no Issuer Downgrading Event has occurred or is outstanding an amount equal to 0 (zero) or (b) if an Issuer Downgrading Event has occurred and is outstanding, an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Collection Account on the following 3 (three) calendar months and considering a 10 per cent cumulative prepayment ratio.
Commingling Amount means an amount equal to 0 (zero) or any higher amount as may be determined by the Issuer (or the Servicer, as the case may be) and notified to the Representative of the Covered Bondholders, the Servicer, the Calculation Agent and the Asset Monitor not later than 5 Business Days before each Calculation Date.
More Definitions of Commingling Amount
Commingling Amount means an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Italian Collection Account on any of the following 12 (twelve) calendar months and considering a 15 per cent. cumulative prepayment ratio."
Commingling Amount means (a) if no Issuer Downgrading Event, calculated as long as UBI Banca is the Master Servicer, taking into account the higher of (i) the long term unsecured, unsubordinated and unguaranteed rating by the Issuer and (ii) the DBRS Covered Bonds Attachment Point of UBI Banca, has occurred or is outstanding an amount equal to 0 (zero) or (b) if an Issuer Downgrading Event has occurred and is outstanding, an amount calculated by the Issuer on a monthly basis equal to the maximum of the total amount of Collections and Recoveries expected to be credited to the Italian Collection Account on any of the following 12 (twelve) calendar months and considering a cumulative prepayment ratio equal to the trailing average of the previous 12 months with a minimum of 5.00 per cent.”