Common use of Payment of Principal on Class C Regular Interests Clause in Contracts

Payment of Principal on Class C Regular Interests. On each Payment Date, beginning with the Payment Date in the Monthly Period following the Monthly Period in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period, begins, the principal amount of each Class C Regular Interest related to a Class C Note shall be reduced by such Class C Note’s pro rata share of an amount equal to the least of (i) the Available Principal Collections on deposit in the Principal Account with respect to such Payment Date, (ii) for each Payment Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Payment Date, (iii) the Collateral Amount (after taking into account any adjustments to be made on such Payment Date pursuant to Sections 4.6 and 4.7) prior to any deposit into the Principal Accumulation Account on such Payment Date, and (iv) the Note Principal Balance, minus any amount already on deposit in the Principal Accumulation Account on such Payment Date.

Payment of Principal on Class C Regular Interests. On each Payment Date, beginning with the Payment Date in the Monthly Period month following the Monthly Period month in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period, begins, the principal amount of each Class C Regular Interest related to a Class C Note shall be reduced by such Class C Note’s pro rata share of an amount equal to the least of (i) the Available Principal Collections on deposit in the Principal Account with respect to such Payment Date, (ii) for each Payment Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Payment Date, (iii) the Collateral Amount (after taking into account any adjustments to be made on such Payment Date pursuant to Sections 4.6 and 4.7) prior to any deposit into the Principal Accumulation Account on such Payment Date, and (iv) the Note Principal Balance, minus any amount already on deposit in the Principal Accumulation Account on such Payment Date.