Maximum Certificate Balance definition
Maximum Certificate Balance. With respect to any Class of Exchangeable Certificates, as of the Closing Date, the original maximum Certificate Balance of such Class as set forth in the table under the heading “Grantor Trust” in the Preliminary Statement, and as of any date of determination subsequent to the Closing Date, the Certificate Balance of such Class that would be outstanding as of such date of determination assuming the Maximum Certificate Balance of such Class had been issued on the Closing Date and no exchanges in accordance with Section 5.13 subsequently occurred. For purposes of clarification, the Maximum Certificate Balance of any Class of Exchangeable Certificates as of any date of determination is expected to equal the product of (i) the VRR Allocation Percentage, multiplied by (ii) the then Certificate Balance or aggregate Certificate Balance, as applicable, of the Related Regular Certificates.
Maximum Certificate Balance means the initial Certificate Balance plus 14.5% of the Principal Balance of all Subsequent Receivables transferred to the Issuer, calculated as of the final Subsequent Transfer Date.
Maximum Certificate Balance with respect to any Certificate, the amount designated as such on the face of such Certificate.
Examples of Maximum Certificate Balance in a sentence
At all times following the Closing Date until a liquidation of the Trust, the General Partner Certificates shall represent in excess of 1% of the Maximum Certificate Balance.
The acceptance of a Certificate shall obligate the Certificateholder to contribute capital from time to time in immediately available funds in an aggregate amount up to the Maximum Certificate Balance thereof.
More Definitions of Maximum Certificate Balance
Maximum Certificate Balance. $32,272,300.