Reserve Account Cap definition

Reserve Account Cap means US$50,000.
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Reserve Account Cap means, on any Payment Date, an amount equal to the Quarterly Senior Payment Amount scheduled or otherwise known to be payable on the next following Payment Date. For this purpose, unscheduled amounts shall be deemed to be known to be payable to the extent that the Trustee has received a certificate from the Servicer to that effect.
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Reserve Account Cap. As to any Distribution Date (after giving effect to ------------------- distributions due thereon) after the Closing Date and until none of the Class X- 0, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-IO, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be $2,499,999 (which is 0.5% of the Cut-off Date Pool Principal Balance) and (ii) as to any Distribution Date (after giving effect to distributions due thereon) after none of the Class X-0, Xxxxx X-0, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-IO, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be the lesser of the then outstanding Class B-2 Certificate Balance and $2,499,999.
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Examples of Reserve Account Cap in a sentence

  • Individual Employee Reserve Account Cap The total in the individual employee reserve account may vary by individual Employee, but the account will hold no more than the amount needed to cover one (1) month of the total EMPLOYER Group Health Insurance Plan premiums at the end of each quarter.


More Definitions of Reserve Account Cap

Reserve Account Cap. As to any Distribution Date (after giving effect to ------------------- distributions due thereon) after the Closing Date and (i) until none of the Class A, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be the greater of $8,954,401 (which is 1.0% of the Cut-Off Date Pool Principal Balance) or, if a Reserve Account Trigger has occurred, $17,908,802 (which is 2.0% of the Cut-Off Date Pool Principal Balance) and (ii) as to any Distribution Date (after giving effect to distributions due thereon) after none of the Class A, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be the lesser of the then outstanding Class B-2 Certificate Balance and the amount calculated pursuant to clause (i).
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Reserve Account Cap shall have the meaning specified in Section 4.1(b).
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Reserve Account Cap means, on any Payment Date, an amount equal to the Quarterly Senior Payment Amount scheduled or otherwise known to be payable on the next following Payment Date; provided that, for any Series of Senior Trust Certificates subject to a floating rate of interest, for the purposes of this definition, such Quarterly Senior Payment Amount shall be calculated as if the interest rate with respect to such Series is the higher of (i) the actual interest rate applicable with respect to such Series during the Quarterly Delivery Period ending on such Payment Date and (ii) 15% per annum. For the purpose of this definition, unscheduled amounts shall be deemed to be known to be payable to the extent that an Authorized Officer of the Trustee has received a certificate from the Servicer to that effect.
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Reserve Account Cap shall have the meaning assigned to such term in Annex A of the Trust Deed.
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Reserve Account Cap. As to any Distribution Date (after giving effect to distributions due thereon) after the Closing Date and until none of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be the greater of $6,859,826 (which is 1.00% of the Cut-Off Date Pool Principal Balance) or, if a Reserve Account Trigger has occurred, $13,719,652 (which is 2.00% of the Cut-Off Date Pool Principal Balance) and (ii) as to any Distribution Date (after giving effect to distributions due thereon) after none of the Class X-0, Xxxxx X-0, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class M and Class B-1 Certificates remain outstanding, the Reserve Account Cap shall be the lesser of the then outstanding Class B-2 Certificate Balance and the amount calculated pursuant to clause (i).
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Related to Reserve Account Cap

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Reserve Account Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the September 2003 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the March 2004 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the "Excess Spread Percentage" for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account Requirement means on any Payment Date, an amount equal to at least $20,357,398.13; provided, however, that on any Payment Date (after taking into account all distributions from the 2016-B SUBI Collection Account on such date) on which the Note Balance is zero, the “Reserve Account Requirement” shall be an amount equal to $0.