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:
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.
Examples of Reserve Account Draw Amount in a sentence
The Paying Agent shall, by no later than 11:00 A.M. (New York City time) on each Payment Date, cause, in accordance with the Monthly Remittance Report, the Account Bank to transfer (x) the Available Funds and any other amounts on deposit in the Waterfall Account, (y) any Reserve Account Draw Amount, if applicable, and, (z) solely with respect to clause (C) of this Section 2.05(c)(i), the Reserve Account Amount to the Paying Agent for distribution in the following manner and priority.
Available Funds together with the Reserve Account Draw Amount are not sufficient to pay in full Accrued Interest due on the Notes on any Payment Date.
More Definitions of Reserve Account Draw Amount
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Reserve Account Draw Amount means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to the lesser of (a) the Available Funds Shortfall Amount, if any, or (b) the amount on deposit in the Reserve Account on such Payment Date. In addition, if the sum of the amount in the Reserve Account and the amount of remaining Available Funds after payment of the amounts set forth in clauses first through fifth of Section 4.4(a) of the Sale and Servicing Agreement would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Classes of Notes, then the Reserve Account Draw Amount will, if so specified by the Servicer in the Servicer’s Certificate, include all amounts on deposit in the Reserve Account.
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. 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 any Payment Date, the amount withdrawn from the Reserve Account, equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount on deposit in the Reserve Account on the Business Day prior to such Payment Date. In addition, if the sum of the amounts in the Reserve Account and the remaining Available Funds after the payments under clauses first through ninth and eleventh of Section 8.5(a) of the Indenture would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Classes of Notes, then the Reserve Account Draw Amount will, if so specified in the Servicer’s Report, include such additional amount as may be necessary to pay all Outstanding Notes in full.
Reserve Account Draw Amount shall have the meaning specified in Section 3.02(b)(i) of the Indenture.