Principal Collections definition

Principal Collections means Collections of Principal Receivables.

Principal Collections. Any and all amounts received in respect of any principal due and payable from or on behalf of Obligors that are deposited into the Principal Collections Account, or received by or on behalf of the Seller by the Servicer or Originator in respect of Assets, in the form of cash, checks, wire transfers, electronic transfers or any other form of cash payment.

Principal Collections means Collections other than Finance Charge Collections.

Examples of Principal Collections in a sentence

• Finance Charge Collections, Principal Collections and Defaulted Receivables allocated to Series 2024-A pursuant to Article VIII of the Indenture shall be allocated and distributed as set forth in this Article.

• The amounts to be so utilised (being an amount equal to the amount notified to the Receivables Trustee by the Servicer on such Transfer Date pursuant to Clause 22 of the Security Trust Deed) shall be transferred from the undivided Principal Collections Ledger and distributed to the Investor Beneficiary (Term) by crediting such amount to the Funding 1 Principal Ledger to be applied pursuant to Clause 24 of the Security Trust Deed.

• On each Transfer Date, the Servicer shall apply, or shall instruct the Indenture Trustee in writing to apply, Reallocated Principal Collections with respect to that Transfer Date, to fund any deficiency pursuant to and in the priority set forth in subsections 4.4(a)(i), (ii), (iii) and (iv).

• On each Transfer Date, the Collateral Amount shall be reduced (but not below zero) by the amount of Reallocated Principal Collections for such Transfer Date.

• The Loan Note Issuer No.1 in its capacity as the Investor Beneficiary (Term) authorises the Receivables Trustee, to the extent required, to make the necessary transfers for the purposes of Clause 5 (Payments of Amounts Representing Available Retained Principal Collections) of Part 4 (Operation of the Delamare Cards Receivables Trust) of Schedule 1 (Supplement to the Receivables Trust Deed and Servicing Agreement and the Delamare Cards Receivables Trust).

More Definitions of Principal Collections

Principal Collections. All amounts received by the Borrower or the Collateral Custodian in respect of the Loans, Permitted Investments and Equity Securities that are not Interest Collections to the extent received in cash by or on behalf of the Borrower or the Collateral Custodian.

Principal Collections for the Mortgage Loans in any Loan Group and any Payment Date means the sum of all payments effected by the mortgagors and any other amounts constituting principal collected by the Master Servicer under the Mortgage Loans in that Loan Group during the related Collection Period. These amounts include any net liquidation proceeds and net proceeds from any insurer pursuant to any insurance policy covering a Mortgage Loan allocable to principal of the applicable Mortgage Loan and Transfer Deposit Amounts (as defined in the Sale and Servicing Agreement), but exclude foreclosure profits. The terms of the related Credit Line Agreement shall determine the portion of each payment on a Mortgage Loan that constitutes principal or interest. Net liquidation proceeds are liquidation proceeds net of out-of-pocket expenses (exclusive of overhead) that are incurred by the Master Servicer in connection with the liquidation of any Mortgage Loan. Foreclosure profits on a liquidated Mortgage Loan are the excess of its net liquidation proceeds over the Asset Balance of the Mortgage Loan before the final recovery on it (plus accrued and unpaid interest thereon at the applicable Loan Rate from the date interest was last paid to the end of the Collection Period during which the Mortgage Loan became a liquidated Mortgage Loan).

Principal Collections means any and all amounts of collections received with respect to the Collateral other than Interest Collections and Excluded Amounts, including (but not limited to) (i) all collections attributable to principal on such Collateral, (ii) the earnings on Principal Collections in the Collection Account that are invested in Permitted Investments, (iii) all payments received by the Borrower pursuant to any Hedging Agreement that is an interest rate swap or index rate swap transaction and (iv) all Repurchase Amounts, in each case other than Retained Interests.

Principal Collections. With respect to any Payment Date and any Home Equity Loan in a Loan Group, the aggregate of the following amounts:

Principal Collections means any and all amounts received in respect of any principal due and payable under any Transferred Loan from or on behalf of Obligors that are deposited into the Collection Account, or received by the Borrower or on behalf of the Borrower by the Servicer or Originator in respect of the Transferred Loans, including, without limitation, proceeds of sales and any hedge termination payments, in the form of cash, checks, wire transfers, electronic transfers or any other form of cash payment.

Principal Collections means Collections of principal under the Receivables.

Principal Collections has the meaning specified in the Transfer and Servicing Agreement.