Definition of Target Amortization Amount


Target Amortization Amount means, for each Class of the Series 2016-T3 Notes, one-twelfth (1/12) of the Note Balance of such Class at the close of business on the last day of its Revolving Period.

Examples of Target Amortization Amount in a sentence

For the avoidance of doubt, the failure pay any Target Amortization Amount when due, as described in the definition thereof, shall constitute an Event of Default.
The Target Amortization Amount allocated to the Series 2013-T2 Notes during the Target Amortization Period shall be applied by the Paying Agent pro rata among the Classes of Series 2013-T2 Notes based on their respective Target Amortization Amounts.
The Target Amortization Amount allocated to the Series 2013-T3 Notes during the Target Amortization Period shall be applied by the Paying Agent pro rata among the Classes of Series 2013-T3 Notes based on their respective Target Amortization Amounts.
Target Amortization Amount: For any Interim Payment Date or any Payment Date, as the case may be, for each Class of Notes then in its Target Amortization Period, the monthly amount specified in, or calculated as described in, the related Indenture Supplement; provided, that such monthly amount must be either a fixed dollar amount or a fixed percentage of the Note Balance of such Class as of the first day of its Target Amortization Period.
The Administrative Agent further confirms that the Series 2013-VF3 Notes issued on the Issuance Date pursuant to this Indenture Supplement shall be issued in the name of Morgan Stanley Bank, N.A., and the Administrative Agent hereby directs the Indenture Trustee to issue the Series 2013-VF3 Notes in the name of Morgan Stanley Bank, N.A. For the avoidance of doubt, the failure pay any Target Amortization Amount when due, as described in the definition thereof, shall constitute an Event of Default.