Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of Class A Monthly Principal for such Distribution Date and, in the case of any Distribution Date other than the initial Distribution Date, the Class A Principal Carryover Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Principal Distributable Amount shall not exceed the Class A Certificate Balance prior to such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount shall include, to the extent not included under the preceding sentence, the amount that is necessary (after giving effect to the other amounts to be deposited in the Class A Distribution Account on such Distribution Date and allocable to principal) to reduce the Class A Certificate Balance to zero.
Class A Principal Distributable Amount means, with respect to any Payment Date, an amount equal to the greater of the Outstanding Amount of the Class A-1 Notes and the following:
Examples of Class A Principal Distributable Amount in a sentence
To evidence such subrogation, the Note Registrar shall note such Insurer's rights as subrogee upon the Class A Note Register upon receipt from such Insurer of proof of payment by the Insurer of any Class A Interest Distributable Amount or Class A Principal Distributable Amount.
In addition, on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount will equal the Class A Certificate Balance as of the Final Scheduled Distribution Date.
Principal of the Class A Notes will be payable on each Distribution Date in an amount equal to the Class A Principal Distributable Amount for such Distribution Date as follows: 100% to the Class A- 1 Notes until the CLass A-1 Notes are paid in full; thereafter, 100% to the Class A-2 Notes until the Class A-2 Notes are paid in full; thereafter, 100% to the Class A-3 Notes until the Class A-3 Notes are paid in full; and thereafter, 100% to the Class A-4 Notes until the Class A-4 Notes are paid in full.
Principal payments from amounts on deposit in the Principal Distribution Account on each Distribution Date will be allocated among the various classes of Notes in the following order of priority: (1) to the Class A Notes, the Class A Principal Distributable Amount; (2) to the Class B Notes, the Class B Principal Distributable Amount; (3) to the Class C Notes, the Class C Principal Distributable Amount; and (4) to the Class D Notes, the Class D Principal Distributable Amount.
In addition, on the Final Scheduled -5- Distribution Date, the Class A Principal Distributable Amount will equal the Class A Certificate Balance as of the Final Scheduled Distribution Date.
More Definitions of Class A Principal Distributable Amount
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Class A Percentage of the following amounts (but not exceeding the Class A Certificate Balance as of such Distribution Date): (i) in the case of Precomputed Receivables, the principal portion of all Scheduled Payments due during the related Collection Period, computed in accordance with the actuarial method, (ii) in the case of Simple Interest Receivables, the principal portion of all Scheduled Payments actually received during the related Collection Period, (iii) the principal portion of all Prepayments received during such Collection Period (to the extent such amounts are not included in clauses (i) and (ii) above), and (iv) the Principal Balance of each Receivable that became an Administrative Receivable, a Warranty Receivable or a Defaulted Receivable during such Collection Period (to the extent such amounts are not included in clauses (i), (ii) and (iii) above). In addition, with respect to the Final Scheduled Distribution Date or the Distribution Date upon which all remaining Receivables are to be purchased pursuant to Section 10.02, the Class A Principal Distributable Amount will include the portion of such amount necessary (after giving effect to the other amounts to be distributed to the Class A Certificateholders on such Final Scheduled Distribution Date or Distribution Date and allocable to principal) to reduce the Class A Certificate Balance to zero.
Class A Principal Distributable Amount means, for any Distribution Date (A) during the Revolving Period, $0; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (vi) of Section 5.08(a) hereto; and (ii) the Class A Note Balance; provided, however, on the Stated Final Maturity, the Class A Principal Distributable Amount will equal the Class A Note Balance.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the amount distributable in respect of principal on the Class A Notes on such Distribution Date which amount shall equal the greater of (i) the outstanding principal amount of the Class A-1 Notes on that Distribution Date (before giving effect to any payments made to Holders of the Class A Notes on that Distribution Date) or (ii) the excess of the principal amount of the Class A Notes immediately prior to that Distribution Date over the lesser of (a) the Class A Principal Percentage of the Aggregate Principal Balance as of the last day of the related Collection Period or (b) the excess of such Aggregate Principal Balance over the Overcollateralization Floor Amount; provided, however, that on any Distribution Date that the Net Chargeoff Percentage exceeds the Sequential Payment Trigger, the Class A Principal Distributable Amount shall equal the lesser of (i) the Aggregate Principal Distributable Amount or (ii) the outstanding principal amount of the Class A Notes; provided, further, that on any Distribution Date on and after the Final Scheduled Distribution Date of any class of Class A Notes, the Class A Principal Distributable Amount will not be less than the amount that is necessary to pay the outstanding principal amount of that class of Class A Notes.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the Class A Percentage of the Principal Distributable Amount.
Class A Principal Distributable Amount means, for any Distribution Date, the amount distributable in respect of principal of the Class A-2 Notes, the Class A-3 Notes or the Class A-4 Notes, as applicable, on such Distribution Date, which amount shall equal the excess of (i) the principal amount of the Class A Notes as of the day preceding such Distribution Date over (ii) an amount equal to 93.50% of the amount by which the Pool Balance as of the last day of the preceding Collection Period exceeds the Overcollateralization Target Amount for that Distribution Date; provided, however, that (a) on any Distribution Date that the Cumulative Net Loss Percentage exceeds the related Sequential Payment Trigger, the Class A Principal Distributable Amount shall equal the lesser of (1) the Aggregate Principal Distributable Amount and (2) the Note Balance of the Class A Notes and (b) on the Final Scheduled Distribution Date of any one or more of the Class A-2 Notes, the Class A-3 Notes or the Class A-4 Notes, as applicable, the Class A Principal Distributable Amount for such Distribution Date (and any subsequent Distribution Date until the principal amount of each such Class of Class A Notes has been paid in full) will not be less than the amount that is necessary to pay the outstanding principal amount of each such Class of Class A Notes (which amount shall be applied first to each such Class of Class A Notes sequentially in order of numerical designation until the principal amount of such Classes of Class A Notes have been paid in full).
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of: (i) the Class A Monthly Principal Distributable Amount for such Distribution Date, (ii) the Additional Class A Principal Distributable Amount, if any, for such Distribution Date and (iii) the Class A Principal Carryover Shortfall for such Distribution Date; provided, however, that (x) the sum of clauses (i), (ii) and (iii) shall not exceed the outstanding principal amount of the Class A Notes, and (y) on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount will include the amount, to the extent of the remaining Available Funds, necessary (after giving effect to other amounts having a higher payment priority on such Distribution Date) to reduce the outstanding principal amount of the Class A Notes to zero.
Class A Principal Distributable Amount means, for any Distribution Date, the sum of Class A Monthly Principal for such Distribution Date and, in the case of any Distribution Date other than the initial Distribution Date, the Class A Principal Carryover Shortfall for such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount shall include any additional amount required to reduce the outstanding aggregate principal balance of the Class A Certificates to zero.