Maximum Substitution Amount

Maximum Substitution Amount. Means an amount equal to the lesser of (A) seven percent (7%) multiplied by the maximum principal amount of Loans Outstanding under this facility on any date since the Closing Date and (B) the difference between (i) ten percent (10%) multiplied by the maximum principal amount of Loans Outstanding under this facility on any date since the Closing Date and (ii) the cumulative aggregate sum, since the Closing Date, of the aggregate amount of cash paid to the Agent upon the Agent's request therefor... under the LEAF III Guaranty plus the cumulative aggregate Discounted Balance of Eligible Receivables contributed by the Guarantor (in each case determined on the date of such contribution, but in any event, as set forth in the LEAF III Guaranty, not to exceed the cash payment amount requested by the Agent) to the Borrower (for pledge to the Agent as described in the LEAF II Guaranty) in lieu of making the cash payments requested by the Agent (but in each case excluding purchases of Receivables made by the Guarantor in respect of LEAF Purchase Events pursuant to Section 6.01 of the Purchase and Contribution Agreement). View More