Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant...
Specified Spread Account Balance means 2.25% of the Pool Balance as of the Cutoff Date. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means, with respect to any Calculation Day or Distribution Date, ____% of the Aggregate Scheduled Balance on such date of calculation, except that if on any date of calculation (i) the Charge-Off Percentage for the three calendar month period ending on such date of calculation exceeds ____% or (ii) the Delinquency Percentage for the three calendar month period ending on such date of calculation exceeds ____%, then the Specified Spread Account Balance shall equal _____% of the Aggregate Scheduled Balance on such date of calculation (but only for so long as such Charge-Off Percentage or Delinquency Percentage thresholds continue to be exceeded on any subsequent date of calculation). Notwithstanding the foregoing, in no event shall the Specified Spread Account Balance be greater than $__________ or less than $_________; provided, however, the Specified Spread Account Balance shall not be greater than the Outstanding Amount of the Securities if such amount is less than $_________.
Examples of Specified Spread Account Balance in a sentence
The Specified Spread Account Balance may be reduced or the definition thereof otherwise modified without the consent of any of the Noteholders or the Certificateholders if the Rating Agency Condition is satisfied.
On each payment date, the servicer will transfer additional amounts into the spread account to the extent that the balance in that account would otherwise be less than the Specified Spread Account Balance, and funds are available for that purpose after other higher priority distributions.
The Specified Spread Account Balance may be increased, reduced or the definition thereof otherwise modified without the consent of the noteholders provided that the Rating Agency Condition is satisfied with respect to any reduction of the Specified Spread Account Balance.
A cable management system such as Panduit shall be utilized in each control panel.
The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance$21,032,623.78Spread Account Balance$19,075,191.57 (b)The change in the spread account on the Distribution Date set forth above ($247,937.85)5Policy.
More Definitions of Specified Spread Account Balance
Specified Spread Account Balance means, with respect to any Payment Date, the lesser of (a) 2.00% of the Initial Pool Balance and (b) the Note Balance.
Specified Spread Account Balance means on the Closing Date, 2.25% of the sum of the Pool Balance as of the Cutoff Date and on any Payment Date thereafter the lesser of, (a) 2.25% of the Pool Balance as of the Cutoff Date and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in November 2017 or any Payment Date thereafter, the percentage in clause (a) will be reduced to 2.00% on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B),(C) or (D); (B) the Specified Spread Account Reduction Trigger is met on the Payment Date in May 2018 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.75% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in November 2017 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clauses (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in November 2018 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.50% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in November 2017 or any Payment Date thereafter or May 2018 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in May 2019 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.15% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in November 2017 or any Payment Date thereafter, May 2018 or any Payment Date thereafter or November 2018 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the No...
Specified Spread Account Balance means 2.25% of the Pool Balance as of the cutoff date. The “Specified Spread Account Balance” definition may be amended without noteholder consent in a manner that results in an increase in the amounts required to be on deposit in the spread account pursuant to such definition; provided that such amendment is not prohibited by Regulation RR. In addition, the Specified Spread Account Balance may also be reduced or modified without the consent of the noteholders if the Rating Agency Condition is satisfied; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means, with respect to any Calculation Day or Distribution Date, 7% of the Aggregate Scheduled Balance on such date of calculation, except that if on any date of calculation (i) the Charge-Off Percentage for the three calendar month period ending on such date of calculation exceeds 4% or (ii) the Delinquency Percentage for the three calendar month period ending on such date of calculation exceeds 2%, then the Specified Spread Account Balance shall equal 10% of the Aggregate Scheduled Balance on such date of calculation (but only for so long as such Charge-Off Percentage or Delinquency Percentage thresholds continue to be exceeded on any subsequent date of calculation). Notwithstanding the foregoing, in no event shall the Specified Spread Account Balance be greater than $______ or less than $______; provided, however, the Specified Spread Account Balance shall not be greater than the Outstanding Amount of the Securities if such amount is less than $______.
Specified Spread Account Balance means for each Distribution Date, the Credit Enhancement Target Amount for such Distribution Date minus the Letter of Credit Available Amount for such Distribution Date.
Specified Spread Account Balance means 2.00% of the Pool Balance as of the Cutoff Date. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means on the Closing Date, 2.25% of the sum of the Pool Balance as of the Cutoff Date and on any Payment Date thereafter the lesser of, (a) 2.25%