Reserve Account Draw Amount definition

Reserve Account Draw Amount means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to (i) the lesser of (a) the Available Funds Shortfall Amount, if any, or (b) the amount on deposit in the Reserve Account or (ii) after the occurrence of an Indenture Default that results in the acceleration of any Notes, unless and until the date on which such acceleration has been rescinded, the entire amount on deposit in the Reserve Account. In addition, except in the circumstances described in clause (ii) of this definition, the sum of the amounts in the Reserve Account and the remaining Available Funds after the payments under clauses (ii) and (iii) of Section 8.04(a) of the Indenture would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Notes, then the Reserve Account Draw Amount will, if so specified by the Servicer in the Payment Date Certificate, include such additional amounts as may be necessary to pay all Outstanding Notes in full.
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 Draw Amount means, for a Payment Date, the lesser of:

Examples of Reserve Account Draw Amount in a sentence

  • Investor Finance Charge Collections Excess Finance Charge Collections allocable to Series 2018-1 Principal Accumulation Account Investment Proceeds Investment earnings in the Reserve Account Reserve Account Draw Amount Net Swap Receipts 16,250,018.89 0.00 0.00 0.00 0.00 0.00 N/A vii.

  • Investor Finance Charge Collections Excess Finance Charge Collections allocable to Series 2012-1 Principal Accumulation Account Investment Proceeds Investment earnings in the Reserve Account Reserve Account Draw Amount Net Swap Receipts 20,669,284.10 0.00 0.00 0.00 0.00 0.00 N/A vii.

  • Investor Finance Charge Collections Excess Finance Charge Collections allocable to Series 2018-1 Principal Accumulation Account Investment Proceeds Investment earnings in the Reserve Account Reserve Account Draw Amount Net Swap Receipts 14,600,451.32 0.00 0.00 0.00 0.00 0.00 N/A vii.

  • On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate.


More Definitions of Reserve Account Draw Amount

Reserve Account Draw Amount means 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 Draw Amount shall have the meaning specified in Section 4.6(b) of the Sale and Servicing Agreement.
Reserve Account Draw Amount shall have the meaning specified in Section 4.6(b).
Reserve Account Draw Amount means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to the lesser of (a) the Available Funds Shortfall Amount, if any, and (b) the amount on deposit in the Reserve Account on such Payment Date.
Reserve Account Draw Amount. For any Distribution Date, prior to the acceleration of the Notes due to an Event of Default, the lesser of (A) the amount, if any, by which the Required Payment Amount for such Distribution Date exceeds the Available Funds for such Distribution Date and (B) the Reserve Account Amount for such Distribution Date (before giving effect to any deposits to or withdrawals from the Reserve Account on such Distribution Date). For any Distribution Date immediately after the acceleration of the Notes due to an Event of Default, the Reserve Account Amount for such Distribution Date (before giving effect to any withdrawals from the Reserve Account on such Distribution Date).
Reserve Account Draw Amount means, for each Payment Date, the lesser of:
Reserve Account Draw Amount means, for (i) any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, and (b) the Reserve Account Amount and (ii) any Applicable Payment Date, the amount withdrawn from the Reserve Account pursuant to Section 12.05 of the Indenture; provided, however, that the Reserve Account Draw Amount shall equal the Reserve Account Amount if (1) an Event of Default has occurred which has resulted in the acceleration of the Notes pursuant to Section 5.02 of the Indenture, (2) on such Payment Date the sum of Available Collections and the amount on deposit in the Reserve Account equals or exceeds the Note Balance, accrued and unpaid interest thereon and all amounts required to be paid to the Servicer, the Trustees and any Backup Servicer on such Payment Date, (3) on such Payment Date the Optional Purchase will be exercised or (4) on the last day of the related Collection Period the Pool Balance is zero.