Excess Spread

Excess Spread. Means, with respect to the Pool Balance as it relates to Receivables, (i) the product of the Weighted Average Coupon thereof and the Performing Loan Factor minus (ii) the sum of (x) Weighted Average Hedge Strike Price, (y) 2.00% (representing the fees of the Servicer and other transaction fees and expenses) and (z) the Funded Spread. Excess Spread shall be calculated as of the close of business on the Accounting Date for purposes of the... Servicer's Determination Date Certificate and as of the close of the previous Business Day for any Servicer's Receivables Sale Date Certificate. For purposes of the calculation of Excess Spread to be reflected in any Servicer's Receivables Sale Date Certificate, "Receivables constituting the Pool Balance" shall be deemed to include the Receivables to be sold on the related Receivables Sale Date. 2 View More