Reserve Draw Amount definition

Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

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Reserve Draw Amount means, with respect to each Transfer Date relating to the Controlled Accumulation Period or the first Transfer Date relating to the Early Amortization Period, the amount, if any, by which the Principal Accumulation Investment Proceeds for such Payment Date are less than the Covered Amount determined as of such Transfer Date.

Reserve Draw Amount means, with respect to each Transfer Date relating to the Controlled Accumulation Period or the first Transfer Date relating to the Early Amortization Period, the amount, if any, by which the Principal Accumulation Investment Proceeds for such Distribution Date are less than the Covered Amount determined as of such Transfer Date.

Examples of Reserve Draw Amount in a sentence

• On or prior to each Distribution Date the Issuer will calculate the Reserve Draw Amount (if any).

• On or before each Payment Date for the Controlled Accumulation Period, the Servicer will calculate the Series 20 - Accumulation Period Reserve Draw Amount and direct the Indenture Trustee to withdraw the amount from the Series 20 - Accumulation Period Reserve Account on that Payment Date and deposit the amount in the Collection Account for application as Available Investor Interest Collections.

• If for any Distribution Date, the Accumulation Period Reserve Draw Amount is greater than zero, the Accumulation Period Reserve Draw Amount, up to the Available Accumulation Period Reserve Account Amount, shall be withdrawn from the Accumulation Period Reserve Account on such Distribution Date by the Indenture Trustee (acting in accordance with the written instructions of the Servicer) and deposited into the Collection Account for application as Available Series Interest Collections.

• If for any Distribution Date, the Accumulation Period Reserve Draw Amount is greater than zero, the Accumulation Period Reserve Draw Amount, up to the Available Accumulation Period Reserve Account Amount, will be withdrawn from the Accumulation Period Reserve Account on such Distribution Date by the Indenture Trustee (acting in accordance with the written instructions of the Servicer) and deposited into the Collection Account for application as Available Investor Interest Collections.

• On or before each Payment Date for the Controlled Accumulation Period, the Servicer will calculate the Series 20__-__ Accumulation Period Reserve Draw Amount and direct the Indenture Trustee to withdraw the amount from the Series 20__-__ Accumulation Period Reserve Account on that Payment Date and deposit the amount in the Collection Account for application as Available Investor Interest Collections.

More Definitions of Reserve Draw Amount

Reserve Draw Amount shall have the meaning specified in subsection ------------------- 4.17(c) of the Agreement.

Reserve Draw Amount means, with respect to each Transfer Date relating to the Accumulation Period or the first Transfer Date relating to the Rapid Amortization Period, the amount, if any, by which the Principal Accumulation Investment Earnings for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

Reserve Draw Amount means, with respect to each Distribution Date relating to the Controlled Accumulation Period or the first Distribution Date relating to the Early Amortization Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Distribution Date are less than the Covered Amount determined as of such Distribution Date.

Reserve Draw Amount means, with respect to each

Reserve Draw Amount shall have the meaning specified in Clause 5.22(c);

Reserve Draw Amount means, with respect to each Distribution Date following any Monthly Period during which amounts targeted to be deposited into the Principal Funding Account pursuant to Section 3.08 for any prior Monthly Period remain on deposit in the Principal Funding Account or the first Distribution Date after an Early Redemption Event or an Event of Default and acceleration occurs, the amount, if any, by which the Principal Funding Investment Proceeds for such Distribution Date are less than the Covered Amount determined as of such Distribution Date.

Reserve Draw Amount shall have the meaning specified in Section 4.11(c).