Payment of Principal Collections Sample Clauses

Payment of Principal Collections. Except on the Payment Date in the month specified in the Adoption Annex, on each Payment Date, the Indenture Trustee shall distribute out of the Collection Account to the Holders of the Notes the Principal Collections up to the Scheduled Principal Collections Payment Amount but not in excess of the Note Principal Balance. On the Payment Date in the month specified in the Adoption Annex, the Indenture Trustee shall distribute to the Holders of the Notes the Principal Collections up to the Note Principal Balance.
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Payment of Principal Collections. Except on the Scheduled Maturity Date, on each Payment Date, the Indenture Trustee shall distribute out of the Payment Account to the Holders of the Principal Amount Notes the Investor Principal Collections to the extent required to meet the Required Transferor Subordinated Amount. On each Payment Date on or after the occurrence of a Rapid Amortization Event the Indenture Trustee shall distribute out of the Payment Account to the Holders of the Principal Amount Notes the Investor Principal Collections until the Note Principal Balance is reduced to zero. On the Scheduled Maturity Date the Indenture Trustee shall distribute to the Holders of the Principal Amount Notes all Principal Collections up to the Note Principal Balance. In addition to Investor Principal Collections, on the Payment Date after the end of the Funding Period, any amount deposited in the Additional Loan Account not used during the first Collection Period to purchase Additional Home Equity Loans will be distributed to the Holders of the Principal Amount Notes in reduction of the Note Principal Balance.
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Payment of Principal Collections. Except on the Payment Date in the month specified in the Adoption Annex, on each Payment Date, the Indenture Trustee shall distribute out of the Payment Account to the Holders of each Class of Principal Amount Notes the Investor Principal Collections for the related Loan Group to the extent required to meet its related Required Transferor Subordinated Amount and, if after allocation of unrelated Investor Principal Collections for the unrelated Loan Group the unrelated Required Transferor Subordinated Amount is not met, to the unrelated Class of Principal Amount Notes until its Required Transferor Subordinated Amount is met. On each Payment Date after the occurrence of a Rapid Amortization Event the Indenture Trustee shall distribute out of the Payment Account to the Holders of each Class of Principal Amount Notes the Investor Principal Collections for the related Loan Group until its Note Principal Balance is reduced to zero and, if after allocation of unrelated Investor Principal Collections for the unrelated Loan Group the Note Principal Balance of the unrelated Class of Principal Amount Notes is greater than zero, to the unrelated Class of Principal Amount Notes until its Note Principal Balance is reduced to zero. On the Payment Date in the month specified in the Adoption Annex, the Indenture Trustee shall distribute to the Holders of each Class of Principal Amount Notes all Principal Collections from the related Loan Group up to the related Note Principal Balance and then, if not paid in full, from the unrelated Loan Group up to the related Note Principal Balance. In addition to Investor Principal Collections, on the Payment Date after the end of the Funding Period, any amount deposited in an Additional Loan Account not used during the first Collection Period to purchase Additional Home Equity Loans will be distributed to the holders of the related class of Principal Amount Notes as a prepayment of principal.
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Payment of Principal Collections. On each Payment Date, the Indenture Trustee shall pay Investor Principal Collections out of the Payment Account to the Holders of each Class of Principal Amount Notes as follows: (i) for each Payment Date before the Stepdown Date or on which a Trigger Event is in effect, (A) to the Class A Notes, until their Note Principal Balance is reduced to zero, (B) sequentially, to the Class M-[1], Class M-[2], Class M-[3], Class M-[4], Class M-[5], Class M-[6], and Class B Notes, in each case until their Note Principal Balance is reduced to zero, (C) any remainder as part of the Excess Cashflow to be allocated as described in Section 8.03(c), and (ii) for each Payment Date on or after the Stepdown Date and so long as a Trigger Event is not in effect, (A) to the Class A Notes, the Class A Principal Distribution Target Amount until its Note Principal Balance is reduced to zero; (B) sequentially, to the Class M-[1], Class M-[2], Class M-[3], Class M-[4], Class M-[5], Class M-[6], and Class B Notes, the Principal Payment Amount for that class, in each case until their Note Principal Balance is reduced to zero, and (C) any remainder as part of the Excess Cashflow to be allocated as described in Section 8.03(c).
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Payment of Principal Collections. With respect to each Series, unless otherwise specified in the related Supplement: (a) Commencing on the Determination Date for the Payment Date relating to the Settlement Period in which the Amortization Period with respect to such Series of Investor Certificates begins, and on each Determination Date with respect to such Series thereafter until the end of such Amortization Period, the Servicer shall instruct the Trustee in writing to withdraw, and on each related Transfer Date the Trustee shall in accordance with such instructions withdraw, from the Collection Account the amount allocated to such Series pursuant to Section 4.03(b)(ii)(B) in respect of the preceding Settlement Period and on the related Transfer Date the Trustee shall pay such amounts to the Paying Agent. On each Payment Date, the Paying Agent shall distribute such amount to the Certificateholders of such Series (referred to herein as "Amortization"). (b) Payments of Principal Collections with respect to the Variable Funding Certificate shall be made in the manner set forth in the Variable Funding Supplement.
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Payment of Principal Collections. Section 4.05 is modified to add the following at the end thereof: PAYMENT AND DEPOSIT OF PRINCIPAL COLLECTIONS WITH RESPECT TO THE SERIES 1997-1 INVESTOR CERTIFICATES. DAILY PAYMENTS AND DEPOSITS
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Payment of Principal Collections. Except on the Payment Date in the month specified in the Adoption Annex, on each Payment Date, the Indenture Trustee shall distribute out of the Payment Account to the Holders of each Group of Notes the Investor Principal Collections for the related Loan Group (in the case of the Class 2-A Notes, pro rata between the Class 2-A-1A and Class 2-A-1B Notes) to the extent required to meet its related Required Transferor Subordinated Amount but not in excess of the related aggregate Note Principal Balance and, if after allocation of unrelated Investor Principal Collections for the unrelated Loan Group the unrelated Required Transferor Subordinated Amount is not met, to the unrelated Group of Notes until its Required Transferor Subordinated Amount is met. On the Payment Date in the month specified in the Adoption Annex, the Indenture Trustee shall distribute to the Holders of each Group of Notes all Principal Collections from the related Loan Group (in the case of the Class 2-A Notes, pro rata between the Class 2-A-1A and Class 2-A-1B Notes) up to the related aggregate Note Principal Balance and then, if not paid in full, from the unrelated Loan Group up to the related aggregate Note Principal Balance. In addition to Investor Principal Collections, on the Payment Date after the end of the Funding Period, any amount deposited in an Additional Loan Account not used during the first Collection Period to purchase Additional Home Equity Loans will be distributed to the Holders of the related Group of Notes (in the case of the Class 2-A Notes, pro rata between the Class 2-A-1A and Class 2-A-1B Notes) as a prepayment of principal.
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Related to Payment of Principal Collections

  • Allocations of Principal Collections The Servicer shall allocate to the Series 1997-1 Certificateholders the following amounts as set forth below:

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • Distributions of Principal On each Payment Date, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) pay any amounts allocated to principal under Section 8.2(c) in the following order of priority, in each case, applied pro rata according to the Note Balance of the Notes of that Class: (i) first, to the Noteholders of Class A-1 Notes in payment of principal until the Note Balance of the Class A-1 Notes has been reduced to zero; (ii) second, to the Noteholders of Class A-2a and Class A-2b Notes, pro rata based on the respective Note Balances, in payment of principal until the Note Balance of the Class A-2a and Class A-2b Notes has been reduced to zero; (iii) third, to the Noteholders of Class A-3 Notes, in payment of principal until the Note Balance of the Class A-3 Notes has been reduced to zero; (iv) fourth, to the Noteholders of Class A-4 Notes, in payment of principal until the Note Balance of the Class A-4 Notes has been reduced to zero; (v) fifth, to the Noteholders of Class B Notes in payment of principal until the Note Balance of the Class B Notes has been reduced to zero; (vi) sixth, to the Noteholders of Class C Notes in payment of principal until the Note Balance of the Class C Notes has been reduced to zero; and (vii) seventh, to the holder of the Residual Interest), any remaining amounts.

  • Allocation of Principal Rights 1. Unless the Performer shall have notified DARPA, in accordance with subparagraph B.2 below, that the Performer does not intend to retain title, the Performer shall retain the entire right, title, and interest throughout the world to each subject invention consistent with the provisions of this Article. 2. With respect to any subject invention in which the Performer retains title, DARPA shall have a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced on behalf of the United States the subject invention throughout the world.

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Principal Premium, if any, and Interest; ---------------------------------------------------- Interest on Overdue Principal and Premium, if any; Principal, Premium and ------------------------------------------------------------------------- Interest Rights Preserved. (a) The Notes shall accrue interest as provided in -------------------------- the form of the Note attached to the related Series Supplement which shall be substantially in the form of a Note set forth in Exhibit B hereto, at the applicable Note Interest Rate specified therein, and such interest shall be payable on each Payment Date as specified therein. Any installment of interest, principal or premium, if any, payable on any Note which is punctually paid or duly provided for by the Note Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date for such Payment Date, by check mailed first- class, postage prepaid to such Person's address as it appears on the Note Register on such Record Date or in such other manner as may be provided in the related Series Supplement, except that with respect to Notes registered on the Record Date in the name of the Certificate Trustee payments will be made by wire transfer in immediately available funds to the account designated by the Certificate Trustee and except for the final installment of principal and premium, if any, payable with respect to such Note on a Payment Date which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03 hereof. (b) The principal of each Note of each Series (and, if applicable, Class) shall be payable in installments on each Payment Date specified in the form of a Note attached to the related Series Supplement in the form of a Note set forth in Exhibit B hereto. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes of a Series shall be due and payable, if not previously paid, on the date on which an Event of Default shall have occurred and be continuing with respect to such Series, if the Note Trustee or the Holders of the Notes representing not less than a majority of the Outstanding Amount of the Notes of all Series have declared the Notes to be immediately due and payable in the manner provided in Section 5.02. All payments of principal and premium, if any, on the Notes of any Series shall be made pro rata to the Noteholders entitled thereto. The Note Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the Note Issuer expects that the final installment of principal of and premium, if any, and interest on such Note will be paid. Such notice shall be mailed no later than five days prior to such final Payment Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02. (c) If the Note Issuer defaults in a payment of interest on the Notes of any Series when due, the Note Issuer shall pay such defaulted interest (plus interest on such defaulted interest at the applicable Note Interest Rate to the extent lawful). The Note Issuer may pay such defaulted interest (plus interest on such defaulted interest) to the Persons who are Noteholders on a subsequent special record date, which date shall be at least five Business Days prior to the payment date. The Note Issuer shall fix or cause to be fixed any such special record date and payment date, and, at least 20 days before any such special record date, the Note Issuer shall mail to each affected Noteholder a notice that states the special record date, the payment date and the amount of defaulted interest (plus interest on such defaulted interest) to be paid.

  • Shared Principal Collections Subject to Section 4.04 of the Agreement, Shared Principal Collections for any Distribution Date will be allocated to Series 2018-8 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 2018-8 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The “Series 2018-8 Principal Shortfall” will be equal to (a) for any Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections).

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38

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