Accelerated Principal Payment definition
Accelerated Principal Payment. With respect to any Payment Date a payment received as a payment of principal by the Noteholders, for the purpose of increasing the related Overcollateralization Amount, and to be paid from the Excess Cashflow, and equal to for any Payment Date the lesser of (x) the amount of the Excess Cashflow and (y) the Overcollateralization Deficiency Amount.
Accelerated Principal Payment. As to any Remittance Date, an amount equal to the lesser of (x) the amount, if any, by which (i) the Required Overcollateralization Amount exceeds (ii) the actual Overcollateralization Amount on such Remittance Date and (y) the sum of (i) the Group II Monthly Excess Spread, if any, and (ii) any portion of the Group I Monthly Excess Spread, if any, remaining after the distribution on such Remittance Date of the amounts specified in clauses A(i) through (xi) or clauses B(i) through (xi), as applicable, of Section 6.01(a). ACQUIRED CONTRACTS: 6,359 Contracts having an aggregate principal balance as of the Cut-off Date of approximately $222,799,304.87, which Vanderbilt purchased from the sellers listed on Exhibit J, all of which Contracts were originated by the Originators listed in Exhibit J hereto.
Accelerated Principal Payment. With respect to any Payment Date and each Pool, a payment received as a payment of principal by the Noteholders of the related Class of Notes, for the purpose of increasing the related Overcollateralization Amount, and to be paid from the Excess Cashflow with respect to the related Pool, and equal to (i) for any Payment Date through and including the Spread Holiday Termination Date, the lesser of (x) __% of the related Excess Cashflow and (y) the Overcollateralization Deficiency Amount for the related Pool and (ii) on each succeeding Payment Date, the lesser of (x) the amount of the related Excess Cashflow and (y) the Overcollateralization Deficiency Amount for the related Pool.
More Definitions of Accelerated Principal Payment
Accelerated Principal Payment. With respect to any Late Due Date Trust Mortgage Loan, for any Distribution Date, any payment or other collection of principal received on such Trust Mortgage Loan at any time after the related Determination Date but on or prior to the related P&I Advance Date, exclusive of any portion of such payment or other collection of principal that represents a late payment for which there was an outstanding P&I Advance or that the applicable Master Servicer was unable to deposit in the Distribution Account as of the close of business on the related P&I Advance Date.
Accelerated Principal Payment. With respect to any Payment Date and each Pool, a payment received as a payment of principal by the Securityholders of the related Class of Securities, for the purpose of increasing the related Overcollateralization Amount, and to be paid from the Excess Cashflow with respect to the related Pool, and equal to (A) on each Payment Date from the related Parity Date through the related Spread Holiday Termination Date, the lesser of (i) 33.33% of the related Excess Cashflow and (ii) the Overcollateralization Deficiency Amount for the related Pool and (B) on each Payment Date after the related Spread Holiday Termination Date, the lesser of (i) 100% of the related Excess Cashflow and (ii) the Overcollateralization Deficiency Amount for the related Pool.
Accelerated Principal Payment. As to any Remittance Date, an amount ----------------------------- equal to the lesser of (x) the amount, if any, by which (i) the Required Overcollateralization Amount exceeds (ii) the actual Overcollateralization Amount on such Remittance Date and (y) the sum of (i) the Group II Monthly Excess Spread, if any, and (ii) any portion of the Group I Monthly Excess Spread, if any, remaining after the distribution on such Remittance Date of the amounts specified in clauses A(i) through (ix) or clauses B(i) through (ix), as applicable, of Section 6.01(a).
Accelerated Principal Payment. As to any Remittance Date, an amount ----------------------------- equal to the lesser of (x) the amount, if any, by which (i) the Required Overcollateralization Amount exceeds (ii) the actual Overcollateralization Amount on such Remittance Date and (y) the sum of (i) the Group II Monthly Excess Spread, if any, and (ii) any portion of the Group I Monthly Excess Spread, if any, remaining after the distribution on such Remittance Date of the amounts specified in clauses A(i) through (ix) or clauses B(i) through (ix), as applicable, of Section 6.01(a). ACQUIRED CONTRACTS: 1,878 Contracts having an aggregate principal ------------------ balance as of the Cut-off Date of approximately $51,316,889.86, respectively, which Vanderbilt purchased from the sellers listed on Exhibit J, all of which Contracts were originated by the Originators listed in Exhibit J hereto.