Credit Enhancement Draw Amount definition

Credit Enhancement Draw Amount for any Payment Date means an amount equal to the sum of:

Credit Enhancement Draw Amount for each Class of Notes and each Payment Date or other applicable date in accordance with the Policy means an amount equal to the sum of:

Credit Enhancement Draw Amount. As defined in Section 3.32 of the Indenture.

Examples of Credit Enhancement Draw Amount in a sentence

• Any Credit Enhancement Draw Amount that is a Preference Amount will be distributed by the Indenture Trustee to the receiver or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Holder and not to any Holder directly unless the Holder has returned principal or interest paid on the Notes to the receiver or trustee in bankruptcy, in which case such payment shall be distributed by the Indenture Trustee to the Holder.

• The amount of the Preference Amount is $______________.] Please be advised that, accordingly, a Group II Credit Enhancement Draw Amount exists for the Payment Date identified above for the Class II Notes and, pursuant to the Indenture, this statement constitutes a notice for payment of a Group II Credit Enhancement Draw Amount by the Insurer in the amount of $__________.

• Upon receipt of such Credit Enhancement Draw Amount in accordance with the terms of the Credit Enhancement Instrument or Dissolution Draw, the Indenture Trustee shall deposit such Credit Enhancement Draw Amount in the Payment Account for distribution to Noteholders pursuant to Section 3.05 and shall distribute such Dissolution Draw in accordance with Section 5.04.

• This Group II Credit Enhancement Draw Amount is payable by the Insurer under the Surety Bond.

• The Borrower shall reimburse Administrative Agent and each Lender for any reasonable sums spent by it in connection with the exercise of any Right under Section 9.05 hereof.

More Definitions of Credit Enhancement Draw Amount

Credit Enhancement Draw Amount means, with respect to any Payment Date and each Class of Notes, an amount equal to the sum of:

Credit Enhancement Draw Amount for each Class of Principal Amount Notes and each Payment Date or other applicable date in accordance with the Policy means an amount equal to the sum of

Credit Enhancement Draw Amount for each Class of Notes means (a) for each Payment Date, the excess of the related Guaranteed Payment for the Payment Date over the related Available Investor Interest for the Payment Date and (b) for each applicable date in accordance with the Policy, the related Preference Amount for the relevant date.

Credit Enhancement Draw Amount has the meaning given to it in the Adoption Annex.

Credit Enhancement Draw Amount means, with respect to any Payment Date or other applicable date in accordance with this Policy and the Class A Notes, an amount equal to the sum of:

Credit Enhancement Draw Amount. As to any Distribution Date, an amount equal to the sum of (x) the amount by which the amount to be distributed to Investor Certificateholders pursuant to Section 5.01(a)(iii) exceeds the amount of Investor Interest Collections on deposit in the Collection Account on the Business Day preceding such Distribution Date that is available to be applied therefor and the amount if any deposited in the Collection Account in respect of such Distribution Date pursuant to Section 4.05, (y) the Guaranteed Principal Distribution Amount and (z) any Preference Claim for such Distribution Date.

Credit Enhancement Draw Amount. As to any Distribution Date, an amount equal to the sum of (x) the amount by which the amount to be distributed to Investor Certificateholders pursuant to Section 5.01(a)(iii) exceeds the amount of Investor Interest Collections on deposit in the Collection Account on the Business Day preceding such Distribution Date that is available to be applied therefor and the sum of the amount if any deposited in the Collection Account in respect of such Distribution Date pursuant to Section 4.05 and any amount transferred from the Spread Account to the Collection Account pursuant to Section 4.03, (y) the Guaranteed Principal Distribution Amount and (z) any Preference Claim for such Distribution Date.