Required Reserve Amount definition

Required Reserve Amount means, with respect to any Payment Date, 0.25% (or such other higher percentage as may be determined by the Depositor, in its sole discretion, on or prior to the Closing Date) of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the Cutoff Date of all Receivables transferred to the Trust.

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Required Reserve Amount means, with respect to any Payment Date (i) during the Revolving Period, an amount equal to $10,899,182.56 (which is approximately 1.00% of the Series Invested Amount as of the Closing Date) and (ii) during the Amortization Period, an amount equal to the amount on deposit in the Reserve Account as of the immediately preceding Payment Date, after giving effect to all deposits into and withdrawals from the Reserve Account on such immediately preceding Payment Date.

Required Reserve Amount means, (i) $__________ (i.e., ___% of the 201[__]-[__] Cutoff Date Aggregate Securitization Value) or (ii) on any Payment Date occurring on or after the date on which the Outstanding Amount of the Notes has been reduced to zero, zero; provided that the Required Reserve Amount may not be greater than the Note Balance of the Notes.

Examples of Required Reserve Amount in a sentence

• The amounts set forth in the definition of Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Notes and Warrants based on the number of shares of Common Stock issuable pursuant to the Notes or Warrants held by each holder thereof on the date of issuance of the Notes and Warrants (without regards to any beneficial ownership limitations) (collectively, the “Authorized Share Allocation”).

• As of each Closing Date, the Company shall have reserved solely for issuance of Underlying Shares from its duly authorized capital stock not less than a number of shares of authorized but unissued Common Stock equal to the Required Reserve Amount (as defined herein).

• As of the date hereof, the Company shall have reserved from its duly authorized capital stock not less than the Required Reserve Amount (as defined below) for issuances of Conversion Shares pursuant to the Certificate of Designations.

• If at any time the number of shares of Common Stock authorized and reserved for issuance by the Company is not sufficient to meet the Required Reserve Amount, the Company shall promptly take all action necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for the Exchanged Preferred Shares then outstanding.

More Definitions of Required Reserve Amount

Required Reserve Amount the Reserve Percentage multiplied by the unpaid balance of Purchased Accounts.

Required Reserve Amount means, $3,121,143.04, which is 0.25% of the Initial Pool Balance.

Required Reserve Amount means $17,877,097.75, or approximately 1% of the Adjusted Pool Balance as of the Initial Cutoff Date.

Required Reserve Amount means the Reserve Percentage multiplied by the unpaid balance of all Purchased Accounts and as such amount may change in accordance herewith.

Required Reserve Amount has the meaning set forth in Section 6(a).

Required Reserve Amount means, for the Reserve Account, $5,630,686.46, or 0.50% of the Initial Pool Balance.

Required Reserve Amount shall have the meaning set forth in Section 9(a).