Examples of Trust Calculation Date in a sentence
On each Trust Calculation Date during the Trust Period, the Trustee of the First Trust will conduct a calculation of the Trust Assets of the First Trust and calculate the Available Distribution Amount and transfer such Available Distribution Amount from the Trust Collection Ledger to the Expenses Distribution Ledger (or, solely in the case of (g) below, to the Cash Collateral Ledger) in accordance with the following provisions and order.
If the Cumulative Gross Loss Ratio exceeds one point six percent (1.6%) as of any Trust Calculation Date, a Level 2 Credit Enhancement Increase Condition will be deemed to be in effect.
The principal amount of any Additional Subordinated Beneficial Interest will be equal to the aggregate Discounted Principal Balance of such Additional Auto Loan Receivables as of the Additional Cut- off Date minus the amount of the relevant Additional Senior Beneficial Interest, plus any amount, if any, on the Trust Calculation Date, which is the same date of the relevant Additional Entrustment Date credited to the Cash Collateral Ledger and carried over on the immediately preceding Trust Calculation Date.
On each Trust Calculation Date and on each Interim Trust Calculation Date, the Seller Share Percentage will be recalculated as the amount calculated to the accuracy of five decimal places equal to 100% minus the aggregate of the Funding 1 Share Percentage and each Further Funding Company Share Percentage, each as calculated on the relevant Trust Calculation Date or, as the case may be, the relevant Interim Trust Calculation Date.
On any Trust Calculation Date in respect of which a Sale Date or a Further Contribution Date has occurred during the immediately preceding Trust Calculation Period, the Cash Manager will calculate (for the sole purpose of making the distributions to be made on the immediately succeeding Distribution Date) the weighted average of the Funding 1 Share Percentage in respect of each Interim Trust Calculation Period occurring in that immediately preceding Trust Calculation Period.
On any Trust Calculation Date in respect of which a Sale Date or a Further Contribution Date has occurred during the immediately preceding Trust Calculation Period, the Cash Manager will calculate (for the sole purpose of making the distributions to be made on the immediately succeeding Distribution Date) the weighted average of the Seller Share Percentages that were calculated previously in respect of each Interim Trust Calculation Period occurring in that immediately preceding Trust Calculation Period.
If the Cumulative Gross Loss Ratio exceeds 1.6% as of any Trust Calculation Date, a Level 2 Credit Enhancement Increase Condition will be deemed to be in effect.
The amount of the Minimum Seller Share will be recalculated by the Cash Manager on each Trust Calculation Date and each Closing Date (in each case, after any sale of Loans to the Mortgages Trustee on that date) and will be an amount equal to the greater of: (i) the greater of (a) 5 per cent.
The principal amount of any Additional Subordinated Beneficial Interest will be equal to the aggregate Discounted Principal Balance of such Additional Auto Loan Receivables as of the Additional Cut-off Date minus the amount of the relevant Additional Senior Beneficial Interest, plus any amount, if any, on the Trust Calculation Date, which is the same date of the relevant Additional Entrustment Date credited to the Cash Collateral Ledger and carried over on the immediately preceding Trust Calculation Date.
When the Cash Manager recalculates the Funding Share Percentage and the Seller Share Percentage on a Trust Calculation Date, that recalculation will (subject to the following sentence) apply for the then current Trust Calculation Period (commencing on the first day of the calendar month in which such Trust Calculation Date occurs).