Current Amount of Guarantee definition

Current Amount of Guarantee means, for any Contract Period, the sum of:
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Current Amount of Guarantee means the maximum aggregate amount of compensation payable by MIGA under this Contract for a Contract Period, irrespective of the number of Losses, which is (a) the sum of (i) the amount specified in Clause 10A of the Special Conditions, and (ii) the aggregate amounts validly transferred from the Standby Option in accordance with Section 13.4, less (b) the reductions specified in Sections 13.2 and 13.3.
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Examples of Current Amount of Guarantee in a sentence

  • The Current Amount of Guarantee as of the date hereof is [Amount in Guarantee Currency].

  • Where the Guaranteed Loan is disbursed over a period of time, the Standby Option Amount shall be reduced for the remainder of the Guarantee Period by any amounts transferred from the Standby Option Amount to the Current Amount of Guarantee pursuant to Section 12.3 below.

  • If there is any termination of or cessation of liability under this Contract during the first three years of the Guarantee Period, the Guarantee Holder shall pay to MIGA 50 percent of the Total Amount Due, based on the Current Amount of Guarantee and Standby Option Amount, that the Guarantee Holder would otherwise have paid during the remaining Contract Periods falling within the first three years of this Contract, had it not been for such termination or cessation of liability.

  • If there is an increase in the amount of the loan under the Loan Agreement in excess of the Guaranteed Loan as of the Effective Date and such amounts are not guaranteed by MIGA as of the Date of Loss, the Guarantee Holder shall only be entitled to recover compensation hereunder for the portion of any missed payment corresponding to the proportion which the Current Amount of Guarantee bears to the Percentage of Cover of the outstanding amount of such loan as of the Date of Loss.

  • So long as no Scheduled Payment default has occurred, the Guarantee Holder may, by delivery to MIGA not less than 30 days before the first day of any Contract Period of a notice in the form of Annex 5B, irrevocably elect to increase the Current Amount of Guarantee for such Contract Period and each successive Contract Period during the Guarantee Period by transferring amounts from the Standby Option Amount to the Current Amount of Guarantee.

  • If there is any termination of this Contract during the first three years of the Guarantee Period, the Guarantee Holder shall pay to MIGA 50 percent of the total Premium and Standby Option Fee, based on the Current Amount of Guarantee and Standby Option Amount, that the Guarantee Holder would otherwise have paid during the remaining Contract Periods falling within the first three years of this Contract, had it not been for such termination.

  • If there is an increase in the outstanding principal amount of the loan under the Loan Agreement in excess of the Guaranteed Loan as of the Effective Date and such amounts are not guaranteed by MIGA as of the Date of Loss, the Guarantee Holder shall only be entitled to recover compensation hereunder for the portion of any missed payment corresponding to the proportion which the Current Amount of Guarantee bears to the Percentage of Cover of the outstanding amount of such loan as of the Date of Loss.

  • The Standby Option Amount shall be reduced for the remainder of the Guarantee Period by any amounts transferred from the Standby Option Amount to the Current Amount of Guarantee pursuant to Section 15.3 below.

  • If there is any termination of this Contract during the first three years of the Guarantee Period, the Guarantee Holder shall pay to MIGA 50 percent of the total Premium and Standby Option Fee based on the Current Amount of Guarantee and Standby Option Amount, that the Guarantee Holder would otherwise have paid during the remaining Contract Periods falling within the first three years of this Contract, had it not been for such termination.

  • Annex 6A – Form of Notice of Reduction in Current Amount of Guarantee and Maximum Aggregate Liability Must be dated and received by MIGA not less than 30 days before the first day of applicable Contract Period.

Related to Current Amount of Guarantee

  • Required Daily Deposit Target Principal Amount means, for any day in a Due Period, (i) if such Due Period is in [the Accumulation Period for the Class A( - ) Notes, the Accumulation Amount], (ii) if such day is on or after the occurrence and during the continuance of a Class A( - ) Adverse Event, the Nominal Liquidation Amount of the Class A( - ) Notes, and (iii) in all other circumstances, zero.

  • Current Principal Amount With respect to any Certificate (other than an Interest Only Certificate) as of any Distribution Date, the initial principal amount of such Certificate, and reduced by (i) all amounts distributed on previous Distribution Dates on such Certificate with respect to principal, (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such Certificate, taking account of the Loss Allocation Limitation and (iii) in the case of a Subordinate Certificate, such Certificate's pro rata share, if any, of the applicable Subordinate Certificate Writedown Amount for previous Distribution Dates. With respect to any Class of Certificates (other than an Interest Only Certificate), the Current Principal Amount thereof will equal the sum of the Current Principal Amounts of all Certificates in such Class. Notwithstanding the foregoing, solely for purposes of giving consents, directions, waivers, approvals, requests and notices, the Class R-I, Class R-II and Class R-III Certificates after the Distribution Date on which they each receive the distribution of the last dollar of their respective original principal amount shall be deemed to have Current Principal Amounts equal to their respective Current Principal Amounts on the day immediately preceding such Distribution Date.

  • Maximum Principal Amount the meaning set forth in Section 2.1(a).

  • Required Subordinated Amount of Class C Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Required Subordinated Amount of Class D Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Class B-1 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Required Subordinated Amount of Class B Notes means, for the Class A(2022-1) Notes for any date of determination, an amount equal to the product of

  • Unencumbered Required Subordinated Amount of Class D Notes means, for the Class B(2020-2) Notes, an amount equal to the product of

  • Class B-2 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Class B-5 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C(2020-5) Notes, the product of

  • Funded Amount means, with respect to any Revolving Obligation (excluding a Synthetic Security) or Delayed Drawdown Collateral Obligation at any time, the aggregate principal amount of advances or other extensions of credit to the extent funded thereunder by the Issuer that are outstanding at such time.

  • Class A-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum as to each Outstanding Mortgage Loan, of the product of (x) the PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Subordinated Optimal Principal Amount With respect to each Mortgage Pool and each Distribution Date, an amount equal to the sum of the following (but in no event greater than the aggregate Class Certificate Balances of the Subordinated Certificates immediately prior to such Distribution Date):

  • Class B-3 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-6 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Outstanding Principal Amount means, in respect of a Covered Bond, its principal amount less, in respect of any Instalment Covered Bond, any principal amount on which interest shall have ceased to accrue in accordance with Condition 5.06 or otherwise as indicated in the Final Terms.

  • Cumulative Outstanding Principal Amount means the aggregate principal amount of each series of Bonds issued and Outstanding from time to time in accordance with the provisions of this Ordinance, as reflected in the records maintained by the Registrar as provided in this Ordinance.

  • Applicable Principal Amount means the aggregate principal amount of the Senior Notes that are components of Corporate Units.

  • PO Formula Principal Amount As to any Distribution Date, the sum of the applicable PO Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each Mortgage Loan on the related Due Date, (b) the Stated Principal Balance of each Mortgage Loan that was repurchased by the Seller or the Master Servicer pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan received with respect to such Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the month preceding the calendar month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received during the month preceding the month of such Distribution Date with respect to such Mortgage Loan and (f) all Principal Prepayments received during the related Prepayment Period.

  • Original Principal Amount means $225,000,000 for the Class A-1 Notes, $272,500,000 for the Class A-2a Notes, $75,000,000 for the Class A-2b Notes, $347,500,000 for the Class A-3 Notes and $80,000,000 for the Class A-4 Notes.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Repayment Amount means the amount to be paid by the Recipient to the OPWC on each payment date of each year during the Term pursuant to the terms and conditions of the Note.

  • Substitution Principal Amount With respect to any Mortgage Loan substituted in accordance with Section 2.02 or pursuant to Section 2.03, the excess of (x) the unpaid principal balance of the Mortgage Loan which is substituted for over (y) the unpaid principal balance of the Substitute Mortgage Loan, each balance being determined as of the date of substitution.

  • Class Principal Amount With respect to each Class of Certificates other than any Class of Notional Certificates, the aggregate of the Certificate Principal Amounts of all Certificates of such Class at the date of determination. With respect to each Class of Notional Certificates, zero.