Common use of Calculation of Notional Principal Amount Clause in Contracts

Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly Interest, the Certificate Balance will be divided into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." The PAC Component shall initially equal the Original Notional Principal Amount. (b) On each Distribution Date, solely for the purposes of calculating the Notional Principal Amount, the Monthly Principal will be allocated (i) first, to the PAC Component up to the amount necessary to reduce the PAC Component to its Planned Notional Principal Amount for such Distribution Date, (ii) second, to the Companion Component until the balance thereof is reduced to zero, and (iii) third, to the PAC Component without regard to the Planned Notional Principal Amount for such Distribution Date.

Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly InterestNote Interest Distributable Amount for each Distribution Date, the Certificate Pool Balance will be divided separated into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." ". The PAC Component shall initially equal the Original Notional Principal Amount. (b) On each Distribution Date, solely for the purposes of calculating the Notional Principal Amount, the Monthly Regular Principal Distributable Amount will be allocated (i) first, to the PAC Component up to the amount necessary to reduce the PAC Component to its Planned Notional Principal Amount for such Distribution Date, (ii) second, to the Companion Component until the balance thereof is reduced to zero, and (iii) third, to the PAC Component without regard to the Planned Notional Principal Amount for such Distribution Date.. ARTICLE V THE SELLER