Series Default Amount

Series Default Amount. Shall mean, (i) with respect to any Allocation Day during a Collection Period, an amount equal to the product of (a) the Default Amount recognized by the Servicer on such Allocation Day and (b) the Series 1999-1 Allocation Percentage applicable to the allocation of Default Amounts on such Allocation Day, and (ii) with respect to any Distribution Date or Collection Period, an amount equal to the aggregate amount ... allocated as Series Default Amounts on each day during the related (or, as applicable, such) Collection Period. View More