Commingling Reserve Required Amount definition

Commingling Reserve Required Amount means,

Commingling Reserve Required Amount means: (a) before the occurrence of a Commingling Event, zero; and (b) after the occurrence of a Commingling Event, the amount of €17,000,000.00.Release of Reserve Amounts recorded inthe Set-off Reserve Ledger: If prior to the delivery of an Enforcement Notice following a Set-offEvent, a Borrower exercises its Set-off Right, an amount equal to the amount in respect of which the Set-off Right has been exercised will form part of the Available Principal Distribution Amount and be available to be applied in accordance with the Payment Priorities.Upon delivery of an Enforcement Notice or upon the Final Legal Maturity Date or upon redemption in full of the Instruments, any amounts standing to the credit of the Reserve Account recorded in the Set-off Reserve Ledger will form part of the Available Principal Distribution Amount and be available to the Issuer to make payments in accordance with the Payment Priorities.

Commingling Reserve Required Amount means, following the occurrence of a Servicer's Owner Downgrade 1, an amount to be determined by the Servicer as of each Cut-Off Date and set out in the Monthly Report on the next following Reporting Date as the greater of (a) the actual amount of Collections for the

Examples of Commingling Reserve Required Amount in a sentence

• Any excess of realisation proceeds or enforcement proceeds over the relevant Commingling Reserve Required Amount will be released to the Seller on the following Payment Date outside the Priority of Payments.

• In case the Value of Eligible Securities on deposit in the Eligible Securities Account or in the Servicer's securities account pledged to the Issuer exceeds the Commingling Reserve Required Amount, on request of the Servicer the Issuer shall release Eligible Securities such that, however, the Value of the Eligible Securities does not fall below the Commingling Reserve Required Amount.

• For the avoidance of doubt, any interest accrued on the Commingling Reserve Required Amount shall not constitute part of the Available Distribution Amount.

• Any excess of the amount standing to the credit of the Commingling Reserve Ledger over the Commingling Reserve Required Amount as calculated on each Calculation Date will be paid on each following Payment Date directly by the Issuer to the Servicer outside the Priority of Payments.

• Under the Servicing Agreement, the Servicer undertakes to remit to the Issuer, within 14 calendar days following the occurrence and thereafter on any Payment Date during the continuance of a Commingling Reserve Trigger Event, the Commingling Reserve Required Amount, by way of deposit (Kaution) as collateral for its actual or contingent obligations under the Servicing Agreement to transfer Collections to the Issuer on the following Payment Date.

More Definitions of Commingling Reserve Required Amount

Commingling Reserve Required Amount means, with respect to any Payment Date, an amount (as calculated by the Transaction Manager on the preceding Calculation Date) equal to the 1.5% of:

Commingling Reserve Required Amount means at any Calculation Date, 5.03% of the Notes Principal Amount Outstanding of the Senior Notes as determined at such Calculation Date (also taking into account the principal payments made out of the Issuer Available Funds on the Payment Date immediately preceding such Calculation Date).

Commingling Reserve Required Amount means as of any Payment Date upon the occurrence and the continuance of a Commingling Reserve Trigger Event an amount equal to the amount of instalments scheduled to be received by the Servicer on the Entrusted Loan Receivables during the next Collection Period and otherwise zero.

Commingling Reserve Required Amount means, following the occurrence of a Servicer's Owner Downgrade 1, an amount to be determined by the Servicer as of each Cut-Off Date and set out in the Monthly Report on the next following Reporting Date as the greater of (a) the actual amount of Collections for the Collection Period ending on that Cut-Off Date and (b) the amount estimated by the Servicer in good faith as the highest amount of Collections expected to be received in any future Collection Period (provided that, for the purposes of making such estimation, the estimated future prepayment rate will not be lower than the average of the last three monthly prepayment rates); provided that if such Servicer's Owner Downgrade 1 is subsequently cured, the Commingling Reserve Required Amount shall be zero;

Commingling Reserve Required Amount means, in relation to each Monthly Calculation Date, the higher of:

Commingling Reserve Required Amount means, following the occurrence of a Servicer's Owner Downgrade 1:

Commingling Reserve Required Amount means on the Closing Date and on any Payment Date an amount equal to the larger of zero and the sum of A and B minus C where: A is the amount of the Collections scheduled for the period from the beginning of the relevant Collection Period immediately following the Cut-Off Date immediately preceding the Closing Date or relevant Payment Date (as applicable); B is 0.25 per cent. of the Aggregate Outstanding Portfolio Principal Amount, as of the relevant Cut-Off Date immediately preceding the Closing Date or the relevant Payment Date; and C is the Commingling Reserve Reduction Amount. "Commingling Reserve Reduction Amount" means: