Yield Reserve definition

Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

Yield Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.50, times (ii) the Alternative Base Rate as of the immediately preceding Cut-Off Date, times (iii) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

Yield Reserve. “Servicing Reserve,” “Servicing Fee Rate,” “Required Reserve” or “Required Reserve Factor Floor” or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or

Examples of Yield Reserve in a sentence

• At any time other than during an Exception Funding Period, the sum of (i) the Net Pool Balance on such date of calculation multiplied by the greater of (a) the sum of the Loss Reserve Ratio on such date of calculation and the Dilution Reserve Ratio on such date of calculation; and (b) the Minimum Reserve Ratio on such date of calculation; (ii) the Yield Reserve on such date of calculation; and (iii) the Servicing Fee Reserve on such date of calculation (such sum, the “Standard Reserves”).

• The Administrative Agent shall calculate the Purchasers’ Investment with respect to a Purchased Interest as an amount which, when added to the related Yield Reserve, is as close as reasonably practicable to (but not in excess of) the aggregate outstanding principal balances of the related Eligible Receivables set forth in the related Purchase Notice.

• The rights of the Issuer with respect to the Loans, Related Securities, Approved Mortgages, the Collection Account, the Yield Reserve, the Loss Reserve, under any Lender’s Mortgage Insurance Contracts that relate to those Loans and the rights of the Issuer under the Transaction Documents constitute the primary Series Assets.

• If the Manager determines on any Determination Date that the Yield Reserve Draw described in the previous paragraph is less than the Payment Shortfall in respect of a Collection Period, the Manager must direct the Trustee to apply from the Total Available Principal (to the extent available for such a purpose under the Series Notice) an amount (the Principal Draw) equal to the remaining Payment Shortfall.

• Yield Reserve Notwithstanding any references to the Yield Reserve in this Information Memorandum, it is not intended that the Yield Reserve will be funded for the Series and therefore no liquidity support will be offered by the Yield Reserve.

More Definitions of Yield Reserve

Yield Reserve for any Receivable Interest at any time means the sum of (a) the then accrued and unpaid Yield for such Receivable Interest and (b) an amount equal to the product of (i) a stress factor of 2.25, (ii) the Capital of such Receivable Interest on such date, (iii) the Alternate Base Rate for such Receivable Interest for a 30-day Fixed Period deemed to commence on such date and (iv) a fraction having Days Sales Outstanding as its numerator and 360 as its denominator.

Yield Reserve for any Calculation Period means an amount equal to the product of (a) the Net Investment as of the most recent Month End Date, (b) 1.5, (c) the Base Rate and (d) the quotient, expressed as a percentage, of (i) 2.00 multiplied by the Days Sales Outstanding divided by (ii) 360. SCHEDULE III (Settlement Procedures) Sections 2.12 through 2.15 of the Agreement shall be read in their entirety as follows:

Yield Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

Yield Reserve. At any time, an amount equal to (a) the product of (i) 2.5 multiplied by the Days Sales Outstanding as of such day and (ii) the Default Rate in effect as of such day, divided by (b) 360, as applicable, multiplied by the Net Pool Balance.

Yield Reserve means, at any time the sum of (a) all accrued and unpaid Discount at such time, plus (b) the following amount: {(BR + SFR) x 1.5(DSO) x Aggregate Capital} 360 where: BR = the Base Rate in effect at such time, DSO = the Days’ Sales Outstanding, and SFR = Servicing Fee Rate.

Yield Reserve means for any Calculation Period, the product (expressed as a percentage) of (i) the sum of (a) 1.0% plus (b) the product of 1.5 times the Base Rate (determined pursuant to clause (a) of the definition thereof) as of the immediately preceding Cut-Off Date times (ii) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. EXHIBIT II FORM OF PURCHASE NOTICE [Date] PNC Bank, National Association, as Agent [ ] Attention: [ ] Re: PURCHASE NOTICE Ladies and Gentlemen: Reference is hereby made to the Amended and Restated Receivables Purchase Agreement dated as of May 31, 2011 among Ferro Finance Corporation (“Seller”), Ferro Corporation, as initial Collection Agent, Market Street Funding LLC and the other Purchasers from time to time party thereto and PNC Bank, National Association, as LC Bank and as Agent (the “Receivables Purchase Agreement”). Capitalized terms used herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement. The Agent, the LC Bank and the Purchasers are hereby notified of the following Incremental Purchase: Purchase Price: $ Market Street’s - Percentage of Purchase (___%) $ Price: ----------------- [Other Purchaser’s (___%) $ Percentage of the Purchase Price:] ----------------- Date of Purchase: Please credit the Purchase Price in immediately available funds to the Facility Account (Account No. 657205449 at PNC Bank, National Association, 0000 Xxxx Xxxxx Xx., Xxxxxxxxx, Xxxx 00000, ABA #000000000). In connection with the Incremental Purchase to be made on the above listed “Date of Purchase” (the “Purchase Date”), the Seller hereby certifies that the following statements are true on the date hereof, and will be true on the Purchase Date (before and after giving effect to the proposed Incremental Purchase and the issuance of any Letter(s) of Credit requested by the Seller on such Purchase Date):

Yield Reserve means, on any date of determination, the product of (a) the highest Day Sales Outstanding Ratio during the 12 fiscal months ending on the most recent Calculation Date, (b) the Stress Factor, (c) the Prime Rate as in effect on such Calculation Date and (d) 1