Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant...
Specified Spread Account Balance means 2.25% of the Pool Balance as of the Cutoff Date. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means, with respect to any Calculation Day or Distribution Date, ____% of the Aggregate Scheduled Balance on such date of calculation, except that if on any date of calculation (i) the Charge-Off Percentage for the three calendar month period ending on such date of calculation exceeds ____% or (ii) the Delinquency Percentage for the three calendar month period ending on such date of calculation exceeds ____%, then the Specified Spread Account Balance shall equal _____% of the Aggregate Scheduled Balance on such date of calculation (but only for so long as such Charge-Off Percentage or Delinquency Percentage thresholds continue to be exceeded on any subsequent date of calculation). Notwithstanding the foregoing, in no event shall the Specified Spread Account Balance be greater than $__________ or less than $_________; provided, however, the Specified Spread Account Balance shall not be greater than the Outstanding Amount of the Securities if such amount is less than $_________.
Examples of Specified Spread Account Balance in a sentence
You will have to pay for the cost of this, and the hotel costs; but we will reimburse you up to £50 per person per night for accommodation.
The Specified Spread Account Balance may be increased, reduced or the definition thereof otherwise modified without the consent of the noteholders provided that the Rating Agency Condition is satisfied with respect to any reduction of the Specified Spread Account Balance.
A cable management system such as Panduit shall be utilized in each control panel.
The Specified Spread Account Balance with respect to such Distribution Date and the Spread Account Balance on the Distribution Date set forth above, after giving effect to distributions made on such Distribution Date Specified Spread Account Balance$21,032,623.78Spread Account Balance$19,075,191.57 (b)The change in the spread account on the Distribution Date set forth above ($247,937.85)5Policy.
In addition, the Specified Spread Account Balance may also be reduced or modified without the consent of the noteholders if the Rating Agency Condition is satisfied.If the amount on deposit in the spread account on any payment date (after giving effect to all deposits or withdrawals therefrom on that payment date) is greater than the Specified Spread Account Balance for that payment date, the excess will be distributed to the certificateholders.
More Definitions of Specified Spread Account Balance
Specified Spread Account Balance means, with respect to any Payment Date, the lesser of (a) 2.00% of the Initial Pool Balance and (b) the Note Balance.
Specified Spread Account Balance means on the Closing Date, 2.25% of the sum of the Pool Balance as of the Cutoff Date and on any Payment Date thereafter the lesser of, (a) 2.25% of the Pool Balance as of the Cutoff Date and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in March 2018 or any Payment Date thereafter, the percentage in clause (a) will be reduced to 2.00% on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B),(C) or (D); (B) the Specified Spread Account Reduction Trigger is met on the Payment Date in September 2018 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.75% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in March 2018 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clauses (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in March 2019 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.50% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in March 2018 or any Payment Date thereafter or September 2018 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in September 2019 or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to 1.15% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in March 2018 or any Payment Date thereafter, September 2018 or any Payment Date thereafter or March 2019 or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of ...
Specified Spread Account Balance means 2.25% of the Pool Balance as of the cutoff date. The “Specified Spread Account Balance” definition may be amended without noteholder consent in a manner that results in an increase in the amounts required to be on deposit in the spread account pursuant to such definition; provided that such amendment is not prohibited by Regulation RR. In addition, the Specified Spread Account Balance may also be reduced or modified without the consent of the noteholders if the Rating Agency Condition is satisfied; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means 2.00% of the Pool Balance as of the Cutoff Date. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification; provided that such reduction or modification is not prohibited by Regulation RR.
Specified Spread Account Balance means for each Distribution Date, the Credit Enhancement Target Amount for such Distribution Date minus the Letter of Credit Available Amount for such Distribution Date.
Specified Spread Account Balance means, with respect to any Calculation Day or Distribution Date, 4.0% of the Aggregate Principal Balance on such Calculation Day, except that if on any Calculation Day (i) the Net Charge-Off Percentage for the related Calculation Day exceeds the Net Charge-Off Percentage Trigger or (ii) the Delinquency Percentage for the three calendar month period ending on such Calculation Day exceeds 2.5%, then the Specified Spread Account Balance shall equal 9.0% of the Aggregate Principal Balance on such Calculation Day (but only for so long as such Net Charge-Off Percentage or Delinquency Percentage thresholds continue to be exceeded on any subsequent Calculation Day). Notwithstanding the foregoing, in no event shall the Specified Spread Account Balance be greater than $157,500,000 or less than $31,500,000; provided, however, the Specified Spread Account Balance shall not be greater than the Outstanding Amount of the Securities if such amount is less $31,500,000.
Specified Spread Account Balance means on the Closing Date, 1.25% of the sum of the Pool Balance as of the Initial Cutoff Date and on any Payment Date thereafter the lesser of, (a) 1.50% of the sum of (i) the Pool Balance as of the Initial Cutoff Date plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in September 2008, the percentage in clause (a) will be reduced to 1.25% on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date in March 2009 as provided in the following clause (B); and/or (B) the Specified Spread Account Reduction Trigger on the Payment Date in March 2009 is met, the percentage in clause (a) will be reduced to 1.15% on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in September 2008) and will remain at such percentage for each Payment Date thereafter. The Specified Spread Account Balance may be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification.