Required Remittance Amount definition

Required Remittance Amount means, for any Remittance Date, the sum of (i) all amounts received from Obligors or from any other sources on or in respect of the Contracts during the immediately preceding Collection Period (and during the period since the immediately preceding Remittance Date, in the case of a Special Remittance Date) and (ii) all Investment Earnings with respect to such Remittance Date. For the avoidance of doubt, no amount received in respect of any Contract shall be part of the Required Remittance Amount for any Special Remittance Date if such amount was part of the Required Remittance Amount for the immediately preceding Remittance Date.
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Required Remittance Amount has the meaning specified in Section 5.10(a).
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Examples of Required Remittance Amount in a sentence

  • In such case, Lender shall instruct the Collection Account Bank in writing (no later than 1:00 p.m. New York City time on such Remittance Date) to withdraw from the Collection Account the Required Remittance Amount for such Remittance Date and to apply such Required Remittance Amount in the order of priority set forth in this Section 3.12(c), based solely on information provided by Lender to the Collection Account Bank.

  • In such case, the Agent shall instruct the Collection Account Bank in writing (no later than 1:00 p.m. New York City time on such Remittance Date) to withdraw from the Collection Account the Required Remittance Amount for such Remittance Date and to apply such Required Remittance Amount in the order of priority set forth in this Section 3.12(c), based solely on information provided by the Agent to the Collection Account Bank.