Interest 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.
Interest Reserve means, as of any date of determination, an amount equal to the product of (i) 1.5, (ii) the Base Rate, (iii) the Outstanding Principal Amount and (iv) a fraction, the numerator of which is the higher of (a) 30 and (b) the Receivables Collection Turnover as of the end of the Settlement Period immediately preceding such date multiplied by 2, and the denominator of which is 360.
Interest Reserve has the meaning assigned in Section 3.1(4).
Examples of Interest Reserve in a sentence
Application of Excess Spread, Excess Finance Charge Collections and Available Interest Reserve Account Amount Allocated to Series 2012-A 1.
Funding of Interest Reserve Account on Interest Reserve Account Funding Date (if applicable)1.
Moneys on deposit in the Related subaccount of the Interest Reserve Account shall at all times be deemed to be a part of the Related subaccount of the Debt Service Reserve Fund.
The Senior Notes Interest Reserve Account shall be an Eligible Account.
Interest accrued in respect of non-performing advances should not be debited to borrowal accounts but shown separately under 'Interest Receivable Account' on the 'Property and Assets' side of the balance sheet and corresponding amount shown under 'Overdue Interest Reserve Account' on the 'Capital and Liabilities' side of the balance sheet.
More Definitions of Interest Reserve
Interest Reserve means a reserve of accrued interest in the aggregate amount of U.S. One Million Ninety-Seven Thousand One Hundred Seventy and No/100 Dollars ($1,097,170.00) that (subject to the provisions of Sections 5(b) and 5(c) of this Agreement), may be used by Lender to accrue monthly interest and to defer the Accrued Interest Payment that would otherwise then be due and payable by Borrower pursuant to Sections 5(b) and 5(c)(i) of this Agreement.
Interest Reserve means the amount loaned or committed to be loaned to a Borrower to Fund the Borrower's projected future payments of Regular Interest to the Fund and upon which Regular Interest shall be charged once disbursed.
Interest Reserve. “Servicing Reserve,” “Servicing Fee Rate,” “Required Reserve” or “Required Reserve Factor Floor”, or any defined term utilized in the definitions of such terms, in each case, as required by such rating agency in connection with the issuance of such rating (as so amended or supplemented, the “Revised Documents”), and (iii) take all actions required to ensure that (A) it is in compliance with all material provisions, representation, warranties and covenants of the Revised Documents applicable to it, (B) no Unmatured Amortization Event, Amortization Event, or any event that, with the giving of notice or the lapse of time, or both, would constitute a Unmatured Amortization Event or Amortization Event exists under the Revised Documents and (C) all other requirements under the Revised Documents relating to the funding of the Loan or the ownership of any Receivable have been complied with. The Borrower shall pay in immediately available funds to the Administrative Agent, all costs and expenses in connection with this Section 10.2, including, without limitation, the initial fees payable to such rating agency or agencies in connection with providing such rating and all ongoing fees payable to the rating agency or agencies for their continued monitoring of such rating.
Interest 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
Interest Reserve means, as of any date of determination, an amount equal to (a) the product of (i) 2.0 times (ii) the Days Sales Outstanding as of such date of determination times (iii) the Base Rate as of such date of determination, divided by (b) 365 or 366, as applicable, times the Net Pool Balance as of such date of determination.
Interest Reserve on any date of determination means an amount equal to the interest that would accrue over the next three months on an amount equal to the principal balance of the Loan outstanding on such date of determination.
Interest Reserve shall have the meaning set forth in Section 2.17 below.