Principal Collections. On each Payment Date, so long as no Event of Default has occurred and is continuing, the Collateral Manager shall direct (which direction shall be deemed given upon receipt by the Collateral Custodian of the related Payment Date Report) the Collateral Custodian to pay pursuant to the latest Payment Date Report (and the Collateral Custodian shall make payment from the Principal Collection Account to the extent of Available Funds, in reliance on the information set forth in such Payment Date Report) to the following Persons, the following amounts in the following order of priority:
(1) to the extent not paid pursuant to Section 2.7(a), to the applicable Person, in the order of priority set forth in Section 2.7(a), such amounts payable pursuant to clauses (1) through (8) thereof;
(2) during the Revolving Period, to the Principal Collection Account, to be distributed at the discretion of the Collateral Manager (i) to be used with respect to any Reinvestment of Principal Collections and the acquisition of Loans as permitted by this Agreement or (ii) to repay the Advances Outstanding;
(3) to the extent not paid pursuant to Section 2.7(a), to the applicable Person, in the order of priority set forth in Section 2.7(a), such amounts payable pursuant to clause (9) thereof;
(4) after the Revolving Period End Date, to the Administrative Agent to be distributed pro rata to the Lenders to repay the Advances until paid in full; and
(5) to the extent not paid pursuant to Section 2.7(a), to the applicable Person, in the order of priority set forth in Section 2.7(a), such amounts payable pursuant to clauses (10) through (15) thereof; and
(6) any remaining amounts shall be distributed (i) if (x) a Default has occurred and is continuing or (y) there is a Borrowing Base Deficiency (recalculated as of such date), to the Interest Collection Account, or (ii) otherwise, to the Borrower, which amounts may be used by the Borrower to make Restricted Payments or for any other purpose permitted hereunder.
Principal Collections. All Principal Collections on Purchased Receivables shall be payable to the Purchasers up to the amount of the Outstanding Purchase Price from time to time. On each Settlement Date during the Revolving Period, Principal Collections received during the prior Settlement Period shall be first, applied to the aggregate Purchase Price of Eligible Receivables purchased on such Settlement Date in accordance with the terms and conditions of this Agreement and second, paid to the Purchasers on such Settlement Date and applied in respect of the Outstanding Purchase Price. On each Settlement Date during the Amortization Period, Principal Collections received during the prior Settlement Period shall be paid to the Purchasers on such Settlement Date and applied in respect of the Outstanding Purchase Price. Following an Amortization Event, Principal Collections on account of the Purchase Discount applied to the Purchase Price of Receivables purchased during a Rating Event or a Discount Event may, at the discretion of the Managing Facility Agent, be deemed Finance Charge Collections available to be distributed pursuant to subsections 2.16(b)(ii) and (b)(iii).
Principal Collections. (a) The "Series 2000-1 Excess Principal Collections," with respect to any Distribution Date, shall mean Excess Principal Collections for all Series for such Distribution Date in an amount equal to the lesser of (a) the Series 2000-1 Principal Shortfall, if any, for such Distribution Date and (b) an amount equal to the product of (x) Excess Principal Collections for all Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 2000-1 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all Series for such Distribution Date.
Principal Collections. (a) The "Series 1997-1 Excess Principal Collections," with respect to ------------------------------------------ any Distribution Date, shall mean Excess Principal Collections for such Distribution Date in an amount equal to the lesser of (a) the Series 1997-1 Principal Shortfall, if any, for such Distribution Date and (b) an amount equal to the product of (x) Excess Principal Collections for all Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 1997- 1 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all Series for such Distribution Date.
(b) The "Series 1997-1 Principal Shortfall" for: ---------------------------------
Principal Collections. Class A Principal Allocation Percentage 85.0000% Class A Monthly Principal $66,418,652.59 Class B Principal Allocation Percentage 7.0000% Class B Monthly Principal $5,469,771.39 Collateral Principal Allocation Percentage 8.0000% Collateral Monthly Principal $6,251,167.30 Total Monthly Principal $78,139,591.28 Reallocated Principal Collections $0.00 Shared Principal Collections allocable from other Series $0.00 IX. INVESTOR CHARGE-OFFS CLASS A INVESTOR CHARGE-OFFS Class A Investor Charge-Offs $0.00 Class A Investor Charge-Offs per $1,000 original certificate principal amount $0.00 Total amount reimbursed in respect of Class A Investor Charge-Offs $0.00 Total amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount $0.00 The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Investor Interest after giving effect to all transactions on such Distribution Date. $0.00 CLASS B INVESTOR CHARGE-OFFS Class B Investor Charge-Offs $0.00 Class B Investor Charge-Offs per $1,000 original certificate principal amount $0.00 Total amount reimbursed in respect of Class B Investor Charge-Offs $0.00 Total amount reimbursed in respect of Class B Investor Charge-Offs per $1,000 original certificate principal amount $0.00 The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Investor Interest after giving effect to all transactions on such Distribution Date. $0.00 Collateral INVESTOR CHARGE-OFFS Collateral Investor Charge-Offs $0.00 Collateral Investor Charge-Offs per $1,000 original certificate principal amount $0.00 Total amount reimbursed in respect of Collateral Investor Charge-Offs $0.00 Total amount reimbursed in respect of Collateral Investor Charge-Offs per $1,000 original certificate principal amount $0.00 The amount, if any, by which the outstanding principal balance of the Collateral Certificates exceeds the Collateral Investor Interest after giving effect to all transactions on such Distribution Date. $0.00
Principal Collections. So long as no Event of Default has occurred and is continuing, the Facility Servicer, on behalf of the Borrower, shall (as directed pursuant to the first paragraph of this Section 2.08) instruct the Account Bank to transfer Principal Collections held by the Account Bank in the Collection Account in accordance with the Payment Date Report for such Payment Date, and shall instruct the Administrative Agent to distribute such funds on such Payment Date, to the following Persons in the following amounts, calculated as of the most recent Determination Date, in the following order and priority:
(i) first, to the Administrative Agent for the ratable distribution (A) first, to the Administrative Agent and the Collateral Custodian to pay amounts due under Section 2.08(a)(i) but not paid thereunder and (B) thereafter, to the Facility Servicer to pay amounts due under Section 2.08(a)(i) but not paid thereunder;
(ii) second, to the Borrower to pay amounts permitted under Section 2.08(a)(ii) but not paid thereunder;
(iii) third, to the Administrative Agent for the ratable distribution to the Lenders to pay amounts due under Section 2.08(a)(iii) but not paid thereunder;
(iv) fourth, if a Market Trigger Event has occurred and is continuing at such time, then to the Administrative Agent for the ratable distribution to each Lender to repay such Lender’s Pro Rata Share of the Advances Outstanding in an aggregate amount (A) with respect to a Market Trigger Event specified in clause (a) of the definition thereof, such that such Market Trigger Event is no longer deemed to be continuing after giving pro forma effect to such repayments and (B) with respect to a Market Trigger Event specified in clause (b) of the definition thereof, until the Advances Outstanding are repaid in full; and
(v) fifth, if no Market Trigger Event has occurred and is continuing at such time (or is no longer deemed to be continuing after giving effect to the repayments under clause (a)(iv) above, to the Borrower or as the Borrower may direct (including as a Restricted Junior Payment).
Principal Collections. (a) The aggregate amount of Principal Collections (pound)_________ processed during the related Monthly Period which were allocable in respect of Class A
(b) The aggregate amount of Principal Collections (pound)_________ processed during the related Monthly Period which were allocable in respect of Class B
(c) The aggregate amount of Principal Collections (pound)________ processed during the related Monthly Period which were allocable in respect of Class C
Principal Collections. So long as no Event of Default has occurred and is continuing:
(i) upon the Company’s delivery of (A) a Principal Collections Notice and (B) a Daily Settlement and Servicing Report satisfactory to the Administrative Agent by 1:00 p.m. (New York City time) on any designated Business Day, the Collateral Agent shall instruct the Account Bank to transfer the requested Principal Collections from the Principal Collections Account to the Company Account by 4:00 p.m. (New York City time) on the Business Day designated in the Principal Collections Notice, which amounts shall be solely applied by the Company to purchase new Underlying Receivables under the Receivables Purchase Agreement or to fund any unfunded Required Spread Account Amounts; provided, that funds from the Principal Collections Account may not be applied to purchase new Underlying Receivables if, after giving effect to the withdrawal of such funds from the Principal Collections Account and to such application, there would exist a Borrowing Base Deficiency;
(ii) the Company may request the Collateral Agent to release all or a portion of the Principal Collections in the Principal Collections Account (not otherwise used pursuant to clause (i) above) to pay the outstanding principal balance on the Tranche A Revolving Loans upon two Business Days’ notice, subject to (A) the satisfaction of the requirements in Section 2.10(a)(i) and (B) the Company’s delivery of a Daily Settlement and Servicing Report satisfactory to the Administrative Agent by 1:00 p.m. (New York City time) on the date of such notice, and such amounts shall be applied on such Business Day to repay the outstanding Tranche A Revolving Loans; and
(iii) on each Interest Payment Date, all amounts on deposit in the Principal Collections Account as of 8:30 a.m. New York City time on the last day of the immediately preceding Collection Period shall be applied (A) first, to pay any amounts not otherwise funded pursuant to Section 2.15(b)(i) through (x) on such Interest Payment Date and (B) second, to repay the outstanding Tranche A Revolving Loans; provided that on any Interest Payment Date the Company may retain up to $1,000,000 on deposit in the Principal Collections Account.
Principal Collections. (A) Principal Payments Received $0.00 (B) Liquidation Proceeds 0.00
Principal Collections. (a) The aggregate amount of $ Principal Collections processed during the Related Collection Period allocated to Series 1999-1 (i.e., the product of item D(1)(b) and item C(7)): (b)The aggregate amount of $ Principal Collections processed during the Related Collection Period allocated to Series 1999-1 Investor Certificates (i.e., the product of item D(2)(a) and item C(9), if the related Collection Period commences during the Revolving Period, or the product of item D(2)(a) and item C(10) if such Collection Period commences after the Revolving Period terminates):
