Excess Collateral definition

Excess Collateral has the meaning set forth in Section 5.7.

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Excess Collateral means an undivided interest in the Trust ----------------- which shall consist of the right to receive from the Trust an amount equal to (i) to the extent necessary to make the required payments to the Excess Collateral Holders under this Series Supplement, the portion of Collections allocable thereto under the Agreement and this Series Supplement, and funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Series Supplement, and (ii) amounts available pursuant to subsection 4.13(k) of the Agreement.

Excess Collateral has the meaning assigned thereto in Section 4.6(c).

Examples of Excess Collateral in a sentence

• The SSO Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral.

• If the SSO Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the SSO Supplier agrees in writing to extend such period for returning the Excess Collateral.

• After payment in full of the Class A Invested Amount and the Class B Invested Amount, amounts in the Principal Funding Account will be paid to the Excess Collateral Holders on the Excess Collateral Scheduled Payment Date.

• During the Accumulation Period, the portion of Available Investor Principal Collections not applied to Class A Monthly Principal, Class B Monthly Principal or Excess Collateral Monthly Principal on a Transfer Date will generally be treated as Excess Principal Collections.

• Upon completion of such Collateral Disposition Offer, the amount of Excess Collateral Proceeds shall be reset at zero.

More Definitions of Excess Collateral

Excess Collateral means a fractional undivided interest in the Trust which shall consist of the right to receive to the extent necessary to make the required payments to the Excess Collateral Holder under this Series Supplement, the portion of Collections allocable thereto under the Agreement and this Series Supplement, funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Series Supplement, and funds on deposit in any other Series Account (and any investment earnings thereon, net of investment expenses and losses, if and to the extent specifically provided herein) allocable thereto pursuant to the Agreement and this Series Supplement.

Excess Collateral means any Intermediated Securities and/or cash which is transferred by the Member to X-CLEAR in excess of its requirement for the provision of Permissible Collateral as determined and called for by X-CLEAR and forms a portion of the Permissible Collateral;

Excess Collateral means any Securities and/or Cash transferred by the Member to SIX x-clear as Permissible Collateral in excess of the Collateral determined and required by SIX x-clear (the "Collateral Requirement").

Excess Collateral has the meaning specified in Section 4.04(f).

Excess Collateral has the meaning set forth in the Security Agreement.

Excess Collateral has the meaning assigned thereto in Section 4.6(d).

Excess Collateral has the meaning set forth in the definition of “Second Tier Collateral.”