Yield Supplement Overcollateralization Amount definition

Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

Yield Supplement Overcollateralization Amount means with respect to any Payment Date, the dollar amount set forth next to such Payment Date on Schedule B to the Sale and Servicing Agreement. The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. Unless otherwise inconsistent with the terms of this Agreement, all accounting terms used herein shall be interpreted, and all accounting determinations hereunder shall be made, in accordance with GAAP. Amounts to be calculated hereunder shall be continuously recalculated at the time any information relevant to such calculation changes. XXXXXXXX X XXXXXXXXXX XX REPRESENTATIONS, WARRANTIES AND COVENANTS PART I

Yield Supplement Overcollateralization Amount means, for the Closing Date and each Payment Date, the amount specified on the Yield Supplement Overcollateralization Schedule for such date. The Yield Supplement Overcollateralization Amount has been calculated for the Closing Date and each Payment Date as the sum for each Receivable of the amount (not less than zero) equal to:

Examples of Yield Supplement Overcollateralization Amount in a sentence

• The "Adjusted Pool Balance" as of any date is equal to the Pool Balance less the Yield Supplement Overcollateralization Amount as of such date.

• YSOA = For each payment date, the amount set forth in the table under "Yield Supplement Overcollateralization Amount".

• The "Yield Supplement Overcollateralization Amount" for each Receivable for each Collection Period is the excess, if any, of the present value of the scheduled payments due on such Receivable for each future Collection Period discounted at the APR of the Receivable over the present value of such scheduled payments discounted at 9.00%, assuming that future scheduled payments on the Receivables are made on their scheduled due dates without any delays, defaults or prepayments.

• The "Yield Supplement Overcollateralization Amount" for each Receivable for each Collection Period is the excess, if any, of the present value of the payments on such Receivable for each future Collection Period discounted at the APR of the Receivable over the present value of such payments discounted at a fixed rate, assuming that future payments on the Receivables are made without any delays, defaults or prepayments.

• The "Yield Supplement Overcollateralization Amount" for each Receivable for each Collection Period is the excess, if any, of the present value of the scheduled payments due on such Receivable for each future Collection Period discounted at the APR of the Receivable over the present value of such scheduled payments discounted at 10.00%, assuming that future scheduled payments on the Receivables are made on their scheduled due dates without any delays, defaults or prepayments.

More Definitions of Yield Supplement Overcollateralization Amount

Yield Supplement Overcollateralization Amount means, for the Closing Date and each Payment Date, the amount stated on the Yield Supplement Overcollateralization Schedule for that date, calculated as the sum for each Receivable of the amount (not less than zero) equal to:

Yield Supplement Overcollateralization Amount means with respect to any Payment Date, the dollar amount set forth next to such Payment Date on Schedule B hereto.

Yield Supplement Overcollateralization Amount means, with respect to any Distribution Date, the amount specified on the Yield Supplement Overcollateralization Schedule with respect to such Distribution Date.

Yield Supplement Overcollateralization Amount means, with respect to any Payment Date and any Receivable (other than a Purchased Receivable or a Defaulted Receivable), an amount equal to the excess of (i) the present value of the remaining Scheduled Payments due under such Receivable as of the later to occur of (x) the last day of the preceding Collection Period and (y) the first date on which interest accrues on such Receivable as set forth in the related Contract, discounted at a rate equal to the APR of such Receivable, over (ii) the present value of the remaining Scheduled Payments due under such Receivable as set forth in clause (i) above, discounted at a rate equal to the greater of the APR of the Receivable and 6.25%. For the purposes of the foregoing calculation, the Payahead Balance with respect to any Actuarial Receivable shall be applied to reduce the amount of any Scheduled Payment on the related Actuarial Receivable in the order in which such Scheduled Payments were due.

Yield Supplement Overcollateralization Amount means, with respect to any payment date, the amount specified below with respect to such payment date:

Yield Supplement Overcollateralization Amount means, (a) with respect to the Closing Date, the aggregate amount by which (1) the Principal Balance, as of the Cutoff Date, of each Receivable (other than any Liquidated Receivables and, if applicable, any FDIC Receivables) with an APR of less than the Required Rate exceeds (2) the present value (calculated using a discount rate equal to the Required Rate) of the sum of the Scheduled Payments due on each such Receivable, assuming that (x) all such Scheduled Payments are made on the last day of each month and (y) each month has 30 days, or (b) with respect to each Payment Date, the aggregate amount by which (i) the Principal Balance, as of the last day of the related Collection Period, of each Receivable (other than any Liquidated Receivables and, if applicable, any FDIC Receivables) with an APR of less than the Required Rate exceeds (ii) the present value (calculated using a discount rate equal to the Required Rate) of the sum of the Scheduled Payments due on each such Receivable, assuming that (x) all such Scheduled Payments are made on the last day of each month and (y) each month has 30 days.

Yield Supplement Overcollateralization Amount means, for the Closing Date and each Acquisition Date, an amount calculated as the sum of the Yield Amounts for all Receivables with an APR as stated in the related device payment plan agreement of less than [__]%. Exhibit A Custodian’s Security Requirements (To Be Inserted For Each Transaction) Exhibit B FORM OF ANNUAL CERTIFICATION Re: The Transfer and Servicing Agreement, dated as of [______], 20[__] (the “Agreement”), among Verizon Owner Trust 20[__]-[__] (the “Issuer”), Verizon ABS LLC (the “Depositor”), and Cellco Partnership d/b/a Verizon Wireless (“Cellco”), as servicer (in such capacity, the “Servicer”), as marketing agent and as custodian. I, ________________________________, the _____________of __________ [NAME OF COMPANY] (the “Company”), certify to the Issuer, the Administrator and the Depositor, and their officers, with the knowledge and intent that they will rely upon this certification, that: