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, at any time of determination, an amount equal to the product of (i) the sum of the Aggregate Capital plus the LC Participation Amount on such date, multiplied by (ii) (x) the Yield Reserve Percentage on such date, divided by (y) 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.

Examples of Yield Reserve in a sentence

• 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 and the Principal Draw are less than the Payment Shortfall for the relevant Collection Period, the Trustee must (at the direction of the Manager) on that date request, to the extent available, a Liquidity Draw under the Liquidity Facility Agreement equal to the difference between the Payment Shortfall and the sum of the Yield Reserve Draw and the Principal Draw.

• 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.

• 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. “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

Yield Reserve means, on any date, an amount equal to: (a) the Aggregate Investment 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) 1.5 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 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. 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.