Examples of Interest Requirement in a sentence
All income or other gain (net of losses and investment expenses) from investments of moneys deposited in the Owner Trust Spread Account shall be applied, as directed by the Administrator by an Issuer Order, (a) to the extent available, to pay the Class C Note Interest Requirement and (b) to the extent of any remaining investment proceeds, to increase the amount on deposit on the Owner Trust Spread Account.
On or before the Payment Date until the Payment Date on or immediately following the Prefunding Termination Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw, to the extent available, from the Capitalized Interest Account for deposit into the Collection Account, an amount equal to the Capitalized Interest Requirement.
On each Transfer Date, the Indenture Trustee or the Paying Agent, acting at the Administrator's request, shall transfer Investment Earnings from the Owner Trust Spread Account to the Note Distribution Account to the extent required to pay the Class C Note Interest Requirement on the related Payment Date pursuant to subsection 2.7(a)(iii).
On the Business Day preceding any Distribution Date occurring during the Prefunding Period, the Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Securities Administrator by the Master Servicer no later than such Business Day) for deposit into the Certificate Account for distribution to Certificateholders in accordance with Article V on such Distribution Date.
Special Interest Requirement – A requirement that warrants a higher level of approval due to factors such as: higher complexity or uncertainty, likely to provoke unusual public interest, or potential impact of any adverse contract performance.