Examples of Target Cash Reserve Amount in a sentence

Pre-enforcement Interest Priority of Payments 3, Target Cash Reserve Amount 4.
On each Payment Date prior to the service of a Trigger Notice, up to (but excluding) the Payment Date on which the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes are redeemed in full or cancelled, subject to the availability of Interest Available Funds, the Cash Reserve will be replenished up to the Target Cash Reserve Amount out of the Interest Available Funds and in accordance with the Pre-Trigger Notice Interest Priority of Payments.
If enrollment falls below a certain threshold, the school may be merged with another one.
As at the Issue Date, the amount credited to the Cash Reserve Account will equal the Target Cash Reserve Amount.
Principal TransactionThereafter, on each Payment Date prior to the delivery of a Trigger Notice to (but excluding) the Payment Date on which the Senior Notes are redeemed in full, the Issuer will, in accordance with the Pre-Trigger Notice Priority of Payments, pay into the Cash Reserve Account an amount to bring the balance of such account equal to the Target Cash Reserve Amount.

More Definitions of Target Cash Reserve Amount

Target Cash Reserve Amount means € 122,500,000 (being an amount equal to 3.5 per cent. of the aggregate Principal Amount Outstanding of the Notes as at the Issue Date) save that on the Calculation Date immediately preceding the Interest Payment Date on which the Class A Notes will be redeemed in full, the Target Cash Reserve Amount will be reduced to zero.On each Calculation Date, the Cash Reserve (or part of it) will be utilised to augment the Interest Available Funds to the extent necessary to make the payments falling due on the immediately following Interest Payment Date under items (i) to (viii) of the Pre-Enforcement Interest Priority of Payments.The Cash Reserve may be invested by the Issuer (through the Custodian in accordance with the Agency and Accounts Agreement) or the Investment Manager (if appointed) on behalf and in the name of the Issuer in Eligible Investments.The Principal Deficiency Ledger AmountOn each Interest Payment Date, subject to the availability of Interest Available Funds, provisions will be made by the Issuer against any Principal Deficiency Amount in accordance with the Pre-Enforcement Interest Priority of Payments. Such provisions (being the Principal Deficiency Ledger Amount, as defined below) will be used, on the same Interest Payment Date, to augment the Principal Available Funds and will therefore be applied to make payments or provisions due on the same date in accordance with the Pre-Enforcement Principal Priority of Payments including, without limitation, payments due in respect of interest on the Class A Notes to the extent not paid under the Pre-Enforcement Interest Priority of Payments due to the insufficiency of Interest Available Funds.

Target Cash Reserve Amount means €10,438,000 (being an amount equal to 2.10 per cent. of the aggregate Principal Amount Outstanding of the Notes as at the Issue Date) save that:

Target Cash Reserve Amount means € 119,714,220 (being an amount equal to three per cent. of the aggregate Principal Amount Outstanding of the Notes as at the Issue Date) save that the Target Cash Reserve Amountwill be reduced to zero in respect of the Interest Payment Date on which the Class A Notes are redeemed in full.Swap Agreement The Issuer has entered into the Swap Agreement with the SwapCounterparty in order to hedge against the potential interest rate exposure of the Issuer in relation to its floating and fixed rate interest obligations under the Class A Notes.Letter of Undertaking Pursuant to a letter of undertaking in relation to the Issuer (the “Letter ofUndertaking”) dated the Signing Date between the Issuer, the Representative of the Noteholders, BP Crema, BP Cremona, BPL, BPN, BPV, Creberg and CR Lupili (in such capacity, the “Financing Banks”), the Financing Banks have undertaken to provide the Issuer with all necessary monies (in any form of financing deemed appropriate by the Representative of the Noteholders, for example by way of a subordinated loan, the repayment of which is effected in compliance with item (xii)(C) of the Pre-Enforcement Priority of Payments or, as the case may be, item (x)(C) of the Post-Enforcement Priority of Payments) in order for the Issuer to pay any losses, costs, expenses or liabilities in respect of certain exceptional liabilities set out in the Letter of Undertaking.First Demand Guarantee Pursuant to the First Demand Guarantee, Banco Popolare, in its capacityas First Demand Guarantor, will unconditionally and irrevocably guarantee to the Issuer:

Target Cash Reserve Amount means, on each Payment Date, an amount equal to 4.5% of the Principal Amount Outstanding of Class A Notes as of the Business Day following the immediately preceding Payment Date (or, in respect of the First Payment Date, on the Issue Date), provided that the Target Cash Reserve Amount will be equal to 0 (zero) on the earlier of (i) the Payment Date on which the Class A Notes can be redeemed in full, (ii) the Final Maturity Date, and (iii) the Final Redemption Date (and on each Payment Date thereafter).

Target Cash Reserve Amount means, in respect of each Interest Payment Date,

Target Cash Reserve Amount means €15,000,000, save that:

Target Cash Reserve Amount means on the Issue Date and each Payment Date thereafter, an amount equal to Euro 4,509,000.As at the Issue Date, the amounts credited to the Cash Reserve Account will be equal to the Target Cash Reserve Amount. Each of the Originators will retain for the life of the Transaction an aggregate material net economic interest of not less than 5 per cent. in the securitisation (calculated for each Originator with respect to the Receivables comprised in the relevant Portfolio transferred by it to the Issuer) as required by article 6(1) of the Securitisation Regulation in accordance with article 6(3)(d) of the Securitisation Regulation (which does not take into account any corresponding national measures) or any permitted alternative method thereafter. As at the Issue Date, each of the Originators will meet this obligation by retaining together the entire first loss tranche (being the Junior Notes) as required by the text of article 6(3)(d) of the Securitisation Regulation. See the section entitled "Regulatory Capital Requirements" for more information. Pursuant to the U.S. credit risk retention regulations (the “U.S. Risk Retention Rules”) promulgated pursuant to Section 15G of the U.S. Securities Exchange Act of 1934 (the “1934 Act”), Banca del Fucino, in its capacity as retaining sponsor, will retain an economic interest in the form of an “eligible horizontal residual interest” equal to at least 5% of the fair value of the Notes issued by the Issuer, subject to the limitations described under “U.S. Credit Risk Retention” herein. Banca del Fucino, as retaining sponsor, has undertaken to hold such interest in the form of Junior Notes. Igea Banca, as Originator, has agreed to retain a portion of such “eligible horizontal residual interest” in an amount proportionate to the Receivables originated by it, subject to the same restrictions and limitations applicable to Banca del Fucino as retaining sponsor.Documents The Notes Subscription Agreement will be governed by English law. The Transfer Agreements, the Warranty and Indemnity Agreement, the Servicing Agreement, the Back-up Servicing Agreement, the Corporate Services Agreement, the Administrative Services Agreement, the Quotaholders' Agreement, the Intercreditor Agreement, the Cash Allocation, Management and Payments Agreement, the Subordinated Loan Agreement, the Master Definitions Agreement and the Mandate Agreement will be governed by Italian law.THE RECEIVABLES

Target Cash Reserve Amount definition

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