Principal Shortfall Clause Samples
Principal Shortfall. The "Principal Shortfall" for Series 1998-1 shall be equal to (a) for any Distribution Date with respect to the Revolving Period, zero or such higher amount designated by the Servicer in an Officer's Certificate, (b) for any Distribution Date with respect to the Accumulation Period (on or prior to the CTO Expected Final Distribution Date), 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), (c) for any Distribution Date with respect to the Early Amortization Period, unless and until the Class A Adjusted Invested Amount, the Class B Adjusted Invested Amount and the CTO Adjusted Invested Amount shall have been paid in full, the excess, if any, of the Invested Amount as of the end of the preceding Collection Period over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections) and (d) for each Distribution Date after the Class A Adjusted Invested Amount, the Class B Adjusted Invested Amount and the CTO Adjusted Invested Amount have been paid in full, the excess, if any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date, or such lesser amount as may be designated by the Servicer. On each Distribution Date during the Early Amortization Period, there shall be withdrawn from the Excess Funding Account an amount equal to the product of (i) the amount on deposit in the Excess Funding Account, if any, and (ii) a fraction, the numerator of which is the Principal Shortfall with respect to Series 1998-1 and the denominator of which is equal to the aggregate Principal Shortfalls of all Series then outstanding. Such amount shall be deposited in the Collection Account and be considered as part of Available Principal Collections with respect to Series 1998-1.
Principal Shortfall. 50 Section 4.11 Finance Charge Shortfall ......................................................................51 Section 4.12 Cash Collateral Account .......................................................................51 Section 4.13 Principal Funding Account .....................................................................53 Section 4.14
Principal Shortfall. The "Principal Shortfall" for Series 1997-2 shall be equal to (a) for any Distribution Date with respect to the Revolving Period zero, or such higher amount designated by the Servicer in an Officer's Certificate, (b) for any Distribution Date with respect to the Accumulation Period (on or prior to the Class B Expected Payment Date), 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), (c) for each Distribution Date with respect to a Rapid Amortization Period, unless and until the Collateral Indebtedness Amount has been paid in full, the excess, if any, of the sum of the Class A Investor Amount, the Class B Investor Amount and the Collateral Indebtedness Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections) and (d) for each Distribution Date after the Class A Investor Amount and the Class B Investor Amount have been paid in full, the excess, if any, of the Investor Amount over the amount of Available Principal Collections for such Distribution Date, or such lesser amount designated by the Servicer.
Principal Shortfall i. Tranche A-1 ii. Tranche A-2 iii. Tranche A-3 iv. Tranche A-4 v. Total:
Principal Shortfall i. Class A-1 Bond
ii. TOTAL QUARTERLY PRINCIPAL SHORTFALL:
Principal Shortfall. The "Principal Shortfall" for Series ------------------- ------------------- 1999-1 shall be equal to (a) for any Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Accumulation Period (on or prior to the Expected Payment Date), 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 each Distribution Date with respect to a Rapid Amortization Period, unless and until the Class D Investor Amount has been paid in full, the excess, if any, of the Investor Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections).
Principal Shortfall. 48 Section 4.11 Finance Charge Shortfall . . . . . . . . . . . . . . 48 Section 4.12 Cash Collateral Account . . . . . . . . . . . . . . . 49 Section 4.13 Principal Funding Account . . . . . . . . . . . . . . 50 Section 4.14 Reserve Account . . . . . . . . . . . . . . . . . . . 52 Section 4.15 Postponement of Accumulation Period . . . . . . . . . 54 Section 4.16 Additional Issuances of Class D Certificates . . . . . . . . . . . . . . . . . . . . 54 SECTION 9. Article V of the Agreement . . . . . . . . . . . . . . 55 ARTICLE V
Principal Shortfall. The "Principal Shortfall" for Series 1998-2 shall be equal to (a) for any Distribution Date with respect to the Revolving Period zero, or such higher amount designated by the Servicer in an Officer's Certificate, (b) for any Distribution Date with respect to the Accumulation Period (on or prior to the Class B Expected Payment Date), 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), (c) for each Distribution Date with respect to a Rapid Amortization Period, unless and until the Collateral Indebtedness Amount has been paid in full, the excess, if any, of the sum of the Class A Investor Amount, the Class B Investor Amount and the