Required Reserves definition

Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the Net Pool Balance multiplied by the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

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Required Reserves is defined in Schedule II.

Required Reserves means, on any day, an amount determined as follows: where: RRP = the Required Reserve Percentage on such day; NPB = the Net Pool Balance on such day; YR = the Yield Reserve on such day; and SFR = the Servicing Fee Reserve on such day.

Examples of Required Reserves in a sentence

• At no time prior to the Amortization Date shall Seller permit the Net Portfolio Balance to be less than an amount equal to the sum of (i) the Aggregate Capital plus (ii) the Required Reserves, in each case, at such time.

• Seller has determined that, immediately after giving effect to each Purchase hereunder (including the initial Purchase on the date hereof), the Net Portfolio Balance equals or exceeds the sum of (i) the Aggregate Capital, plus (ii) the Required Reserves, in each case, at such time.

• Notwithstanding anything to the contrary in this Agreement, Seller shall ensure that the Net Portfolio Balance shall at no time be less than the sum of (i) the Aggregate Capital at such time, plus (ii) the Required Reserves at such time.

• In the case of the SPV, the sum of the Net Investment plus the Required Reserves does not exceed the Net Pool Balance.

• The sum of the Net Investment, plus the Required Reserves does not exceed the Net Pool Balance.

More Definitions of Required Reserves

Required Reserves means, for any day, an amount equal to the sum of (a) the Required Receivable Reserves plus (b) the Required Loan Reserves.

Required Reserves. “Net Portfolio Balance” “Servicing Fee Rate” or “RPA Deferred Purchase Price” or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or

Required Reserves at any time means the product of (x) the Net Pool Balance and (y) the greater of (I) 13.00% and (II) the sum of (a) the Yield Reserve Ratio, plus (b) the Servicing Fee Reserve Ratio, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

Required Reserves means lands required by the State as reserves for Uralla Creek, the 17 Mile Dam and associated works and the levee referred to in Clause 7 all as shown on the said Plan “A” and thereon coloured green red ▇▇▇▇▇ and blue; “Rights in Water and Irrigation Act” means the Rights in Water and Irrigation ▇▇▇ ▇▇▇▇;

Required Reserves means, on any day, an amount determined as follows:

Required Reserves means, at any time, the product of (i) the Net Receivables Balance at such time times (ii) the sum of (a) the Yield and Servicing Fee Reserve Percentage as of such time and (b) the Combined Reserve Percentage as of such time.

Required Reserves means the sum of (i) the Loss Reserve, (ii) the Interest and Fee Reserve, and (iii) the Conditional Service Guaranty Reserve. At any time during any calendar month prior to applying Collections in accordance with Section 3.01(d) on the Settlement Date in such calendar month, the Required Reserves shall be calculated as of the most recent Cut-off Date without giving effect to any Transfers occurring after such Cut-off Date. At any time during any calendar month after applying Collections in accordance with Section 3.01(d) on the Settlement Date in such calendar month, the Required Reserves shall be calculated based upon (x) the combined Receivable Pool that includes any Receivables that were added to the Receivable Pool as a result of any Transfers that occurred after such Cut-off Date, based on Financed Unpaid Balances as of such Cut-off Date and (y) data with respect to all applicable Receivables as of such Cut-off Date.