Loss Allocation Amount definition

Loss Allocation Amount. With respect to any Payment Date, the amount payable by each of the Class B Grantor Trust Certificateholder and the Master Servicer for losses resulting from any investment of funds in the Master Servicer Collection Account required to be paid pursuant to the Servicing Agreement and the Grantor Trust Agreement on such Payment Date, which shall be the product of (i) the aggregate amount of any such losses and (ii) a fraction, the numerator of which is the number of days of investment income the Class B Grantor Trust Certificateholder or the Master Servicer, as applicable, are entitled to and the denominator of which is the total number of days of investment income for such Payment Date.

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Loss Allocation Amount. With respect to any Payment Date, the amount payable by each of the Seller and the Master Servicer for losses resulting from any investment of funds in the Master Servicer Collection Account required to be paid pursuant to the Servicing Agreement on such Payment Date, which shall be the product of (i) the aggregate amount of any such losses and (ii) a fraction, the numerator of which is the number of days of investment income the Seller or the Master Servicer, as applicable, are entitled to and the denominator of which is the total number of days of investment income for such Payment Date.

Loss Allocation Amount means, with respect to any Loss Allocation Partner, the maximum amount that such Partner agrees to contribute to the Partnership.

Examples of Loss Allocation Amount in a sentence

As among any Class, such Realized Loss Allocation Amount shall be applied, pro rata, among all Certificates of such class in proportion to their respective Certificate Principal Balances with no preference or priority of any kind.
On each Distribution Date, the Realized Loss Allocation Amount for each Exchange and Exchangeable Class shall be applied to such Class in reduction of the balances thereof.
Notwithstanding the foregoing, on any Distribution Date in which the Class 1-A-1 Loss Amount exceeds the Class Certificate Balance of the Class 1-A-2 Certificates prior to any reduction for the Class 1-A-2 Loss Allocation Amount, such excess will be distributed in reduction of the Class Certificate Balance of the Class 1-A-1 Certificates.
After the Senior Credit Support Depletion Date, on any Distribution Date on which the Class 3-A-2 Loss Allocation Amount is greater than zero, the Class Certificate Balance of the Class 3-A-2 Certificates will be reduced by the Class 3-A-2 Loss Allocation Amount and, notwithstanding Section 5.03(b), the Class Certificate Balance of the Class 3-A-1 Certificates will not be reduced by the Class 3-A-2 Loss Allocation Amount.
Notwithstanding the foregoing, on any Distribution Date in which the Class 2-A-1 Loss Amount exceeds the Class Certificate Balance of the Class 2-A-2 Certificates prior to any reduction for the Class 2-A-2 Loss Allocation Amount, such excess will be distributed in reduction of the Class Certificate Balance of the Class 2-A-1 Certificates.
Notwithstanding the foregoing, on any Distribution Date in which the Class 3-A-1 Loss Amount exceeds the Class Certificate Balance of the Class 3-A-2 Certificates prior to any reduction for the Class 3-A-2 Loss Allocation Amount, such excess will be distributed in reduction of the Class Certificate Balance of the Class 3-A-1 Certificates.
After the Senior Credit Support Depletion Date, on any Distribution Date on which the Class 4-A-2 Loss Allocation Amount is greater than zero, the Class Certificate Balance of the Class 4-A-2 Certificates will be reduced by the Class 4-A-2 Loss Allocation Amount and, notwithstanding Section 5.03(b), the Class Certificate Balance of the Class 4-A-1 Certificates will not be reduced by the Class 4-A-2 Loss Allocation Amount.
On each Distribution Date, the Realized Loss Allocation Amount for each Exchange Class shall be applied to such Class.
On each Distribution Date, the Realized Loss Allocation Amount for each Class shall be applied to such Class.
Notwithstanding the foregoing, on any Distribution Date in which the Class 4-A-1 Loss Amount exceeds the Class Certificate Balance of the Class 4-A-2 Certificates prior to any reduction for the Class 4-A-2 Loss Allocation Amount, such excess will be distributed in reduction of the Class Certificate Balance of the Class 4-A-1 Certificates.

More Definitions of Loss Allocation Amount

Loss Allocation Amount. The term "Loss Allocation Amount" shall mean (i) in the case of a Member that has a positive balance in its Adjusted Capital Account, an amount equal to the sum of (x) the positive balance in such Member's Adjusted Capital Account, (y) such Member's share of Minimum Gain on Nonrecourse Liability, and (z) such Member's share of Minimum Gain on Member Nonrecourse Debt, or (ii) in the case of a Member that has a negative balance in its Adjusted Capital Account that does not exceed the sum of such Member's share of Minimum Gain on Nonrecourse Liability and such Member's share of Minimum Gain on Member Nonrecourse Debt, an amount equal to the excess of (x) the sum of such Member's share of Minimum Gain on Nonrecourse Liability and such Member's share of Minimum Gain on Member Nonrecourse Debt, over (y) the balance of such Member's Adjusted Capital Account (treated as a positive number).

Loss Allocation Amount means (i) in the case of a Partner who has a positive balance in its, his or her Adjusted Capital Account, an amount equal to the sum of (x) the positive balance in the Partner's Adjusted Capital Account, (y) the Partner's share of Minimum Gain on Nonrecourse Liability, and (z) the Partner's share of Minimum Gain on Partner Nonrecourse Debt, or (ii) in the case of a Partner who has a negative balance in its, his or her Adjusted Capital Account which does not exceed the sum of the Partner's share of Minimum Gain on Nonrecourse Liability and the Partner's share of Minimum Gain on Partner Nonrecourse Debt, an amount equal to the excess of (x) the sum of the Partner's share of Minimum Gain on Nonrecourse Liability and the Partner's share of Minimum Gain on Partner Nonrecourse Debt, over (y) the balance of the Partner's Adjusted Capital Account (treated as a positive number).

Loss Allocation Amount. With respect to any Distribution Date after the Senior Credit Support Depletion Date for Group 1, the lesser of (a) the Class Certificate Balance of the Class 1-A-11 Certificates with respect to such Distribution Date prior to any reduction for the Class 1-A-11 Loss Allocation Amount and (b) the Class 1-A Loss Amount with respect to such Distribution Date.