Principal Shortfall Sample Clauses

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 On each Distribution Date during the Early Amortization Period, there shall be withdrawn from the Excess Funding Account an amount equal to the product of (i) the amount on deposit in the Excess Funding Account, if any, and (ii) a fraction, the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.
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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.
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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
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Principal Shortfall i. Tranche A-1 ii. Tranche A-2 iii. Tranche A-3 iv. Tranche A-4 v. Total:
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Principal Shortfall i. Class A-1 Bond
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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).
Sample 1
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
Sample 1
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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
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Related to Principal Shortfall

  • Collateral Shortfalls In the event that amounts on deposit in the Collateral Fund at any time are insufficient to cover any withdrawals therefrom that the Company is then entitled to make hereunder, the Purchaser shall be obligated to pay such amounts to the Company immediately upon demand. Such obligation shall constitute a general corporate obligation of the Purchaser. The failure to pay such amounts within two Business Days of such demand (except for amounts to cover interest on a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an immediate termination of the Purchaser's right to make any Election to Delay Foreclosure or Election to Foreclose and the Company's obligations under this Agreement with respect to all Mortgage Loans to which such insufficiencies relate, without the necessity of any further notice or demand on the part of the Company.

  • Security shortfall If at any time the Security Value is less than the Minimum Value, the Agent may, and shall, if so directed by the Majority Lenders, by notice to the Borrowers require that such deficiency be remedied. The Borrowers shall then within 30 days of receipt of such notice ensure that the Security Value equals or exceeds the Minimum Value. For this purpose, the Borrowers may:

  • Excess Spread; Excess Finance Charge Collections The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:

  • Excess Finance Charge Collections Series 2018-5 shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be allocated to Series 2018-5 in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2018-5 for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series 2018-5 for any Distribution Date will be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through (j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance Charge Collections for Series 2018-5 for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the Transfer Agreement on such date.

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Application of Available Finance Charge Collections and Available Principal Collections On or before each Transfer Date, the Servicer shall instruct the Indenture Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw and the Indenture Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or related Distribution Date, as applicable, to the extent of available funds, the amount required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account as follows:

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

  • Available Funds $ 4,362,047.84 ---------------

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Shared Principal Collections Subject to Section 4.04 of the Agreement, Shared Principal Collections for any Distribution Date will be allocated to Series 2019-3 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 2019-3 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 2019-3 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).

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