Spread Account Shortfall means, with respect to any Distribution Date and any Series (other than the Warehousing Series) with respect to which an Insurance Agreement Event of Default has occurred and is continuing, or a Capture Event has occurred and is continuing, the excess, if any, of the Spread Account Maximum Amount for such Series and such Distribution Date and the amount on deposit in such Spread Account as of such Distribution Date after giving effect to distributions made on such Distribution Date pursuant to priority SECOND of Section 3.03(b).

Spread Account Shortfall and "Spread Account Default Level."

Spread Account Shortfall means, (A) with respect to any amounts to be distributed from the collection account of any other Series to the Collection Account for the 2002-A Notes, as of any Determination Date, the excess, if any, of (x) the Requisite Spread Account Amount over (y) the amount on deposit in the Spread Account and (B) with respect to amounts to be distributed from the Collection Account of the Series 2002-A Notes to the collection account of any other Series pursuant to Section 5.7(b)(ix), the excess, if any, of (x) the "Requisite Spread Account Amount" as defined in the applicable supplement to the Spread Account Agreement for such Series over (y) the amount on deposit in the spread account for such Series.

Examples of Spread Account Shortfall in a sentence

Any Spread Account Shortfall Notice shall be delivered by 2:00 p.m. Eastern time, on the Business Day preceding such Distribution Date.
Priority of Distributions * Collections from Spread Account Shortfall ------------------------------- 1a.
The Court should reject this argument.The defendants’ criminal activity involved, in addition to themselves, at least 12 more knowing participants:• At least six bodyguards.
In the event the servicer's certificate with respect to any other Series shall state that there is a Spread Account Shortfall with respect to such Series, the Trust Collateral Agent shall remit such Spread Account Shortfall to deposit in the collection account for such Series on the related Distribution Date as contemplated by Section 5.7(b)(ix).
Policymakers can also use standards as complements to these technology policy instruments (Vollebergh and Van der Werf, 2014).

More Definitions of Spread Account Shortfall

Spread Account Shortfall means, with respect to any Series and any Reporting Date with respect to which (x) a Trigger Event has occurred and has not been Deemed Cured or (y) an Insurance Agreement Event of Default has occurred, the excess, if any, of the amount determined pursuant to the applicable definition of Requisite Amount with respect to such Reporting Date over the amount on deposit in the related Spread Account as of such Reporting Date after making any withdrawals therefrom required by priorities FIRST, SECOND, and THIRD of Section 3.03(b) hereof.

Spread Account Shortfall means, with respect to any Series and any Reporting Date with respect to which the Requisite Amount for such Series is 7% of the Series 1995-1 Balance or unlimited, the excess, if any, of (a) the greater of 7% of the Series 1995-1 Balance and the amount determined by reference to clause (a) of the definition of Requisite Amount with respect to such Distribution Date over (b) the amount on deposit in the related Spread Account after making any withdrawals therefrom required by priority THIRD of Section 3.03(b) hereof.

Spread Account Shortfall. The definition of "Spread Account Shortfall" is hereby amended in the following manner:

Spread Account Shortfall is hereby amended in the following manner:

Spread Account Shortfall means, with respect to any Series (unless specified otherwise in the related Series Supplement) and any Determination Date, an amount equal to the excess of (1) the Requisite Amount with respect to such Distribution Date over (2) the amount on deposit in the Spread Account after making any withdrawals therefrom required by priority THIRD of Section 3.03(b)." 6 (b) Each of the Series 1998-3 Supplement and the Series 1998-4 Supplement, is amended and restated, in each case, by inserting the following definition in Section 1 of each such Series Supplement (substituting, in each case, the applicable Series designation (e.g. "Series 1998-3" with respect to the Series 1998-3 Supplement) for the bracketed text contained in such definition):

Spread Account Shortfall means, with respect to [INSERT APPLICABLE SERIES DESIGNATION] and any Determination Date with respect to which (a) a Trigger Event has occurred and has not been deemed cured or (b) an Insurance Agreement Event of Default has occurred and is continuing, an amount equal to the excess of (1) the Requisite Amount with respect to such Distribution Date over (2) the amount on deposit in the [INSERT APPLICABLE SERIES DESIGNATION] Spread Account after making any withdrawals therefrom required by priority THIRD of Section 3.03(b) of the Spread Account Agreement. Notwithstanding anything contained herein to the contrary, the term "Insurance Agreement Event of Default" as used in this definition shall be deemed to refer to only an Insurance Agreement Event of Default that is not a Waived Insurance Agreement Event of Default."