Examples of Maximum Yield Supplement Amount in a sentence
On each Payment Date for any Receivable that has either defaulted or prepaid, the Servicer will instruct the Indenture Trustee to withdraw from the Yield Supplement Account and deposit into the Collection Account an amount equal to the Maximum Yield Supplement Amount for such Receivable, as calculated immediately prior to such default or prepayment.
Prior to each Payment Date, the Servicer will calculate an amount (the "Available Yield Supplement Amount") equal to the Maximum Yield Supplement Amount for all Receivables that were liquidated or prepaid during the related collection period, as calculated for each such Receivable immediately prior to such liquidation or prepayment.
The "Maximum Yield Supplement Amount" for each Receivable is equal to the difference (if positive) between (A) the present value of the scheduled and unpaid payments on the Receivable discounted monthly at an annual rate equal to the Initial Cutoff Date APR or the Subsequent Cutoff Date APR, as applicable, minus (B) the present value of the scheduled and unpaid payments on the Receivable discounted monthly at an annual rate equal to its individual APR.
On each Subsequent Transfer Date, cash or eligible investments having a value equal to the Maximum Yield Supplement Amount of the Subsequent Receivables conveyed to the trust on such Subsequent Transfer Date will be withdrawn from the Pre-Funding Account and deposited in the Yield Supplement Account.
The amount initially deposited in the Yield Supplement Account by the Seller together with the aggregate amount transferred from the Pre-Funding Account to the Yield Supplement Account on each Subsequent Transfer Date is referred to as the "Yield Supplement Account Initial Deposit." The "Required Yield Supplement Amount" for a Receivable shall be equal to 8.0% of the Maximum Yield Supplement Amount for such Receivable.
If the amount on deposit in the Yield Supplement Account on any Payment Date (after giving effect to any deposit thereto and the withdrawal therefrom of the Maximum Yield Supplement Amount for such Payment Date) is greater than the Required Yield Supplement Account Balance, the excess will be released to the Seller.