Alternative Principal Payment for each Payment Date and each Class of Notes means the excess of the Principal Collections for the related Loan Group for the Payment Date over the aggregate of Additional Balances for the related Loan Group created during the related Collection Period, but not less than zero.
Alternative Principal Payment for any Payment Date means the excess of the Principal Collections for the Payment Date over the aggregate of Additional Balances created during the related Collection Period.
Alternative Principal Payment. As to any Distribution Date, the ----------------------------- amount (but not less than zero) equal to the aggregate amount of Trust Principal Collections received during the related Collection Period minus the total Additional Balances created during such Collection Period.
Examples of Alternative Principal Payment in a sentence
The "Alternative Principal Payment" is equal to the amount (not less than zero) of principal collections for such Distribution Date less the aggregate of additional draws on existing Trust HELOCs created during such Distribution Date.
During the Managed Amortization Period, the Class A-l Noteholders will receive the lesser of (a) the Maximum Principal Payment (as defined herein) and (b) the Alternative Principal Payment (as defined herein).
More Definitions of Alternative Principal Payment
Alternative Principal Payment. As to any Distribution Date, the greater of ----------------------------- (x) 1% of the Investor Certificate Principal Balance immediately prior to such Distribution Date and (y) the amount (but not less than zero) equal to the aggregate amount of Principal Collections received during the related Collection Period less the aggregate amount of Draws made during the related Collection Period.
Alternative Principal Payment for a Payment Date and Loan Group means the Investor Fixed Allocation Percentage of the excess of the Principal Collections for the related Loan Group for the Payment Date over the aggregate of Additional Balances for the related Loan Group created during the related Collection Period.
Alternative Principal Payment. As to any Distribution Date and Class of Investor Certificates, the amount (but not less than zero) equal to Principal Collections for the related Loan Group for such Distribution Date less the aggregate of Additional Balances for such Loan Group created during the related Collection Period.
Alternative Principal Payment. As to any Payment Date, the greater of (x) ___% of the Class A Certificate Principal Balance immediately prior to the Payment Date or (y) the amount (but not less than zero) equal to Principal Collections for such Payment Date less the aggregate of Draws under the Credit Line Agreements during the related Collection Period.
Alternative Principal Payment means, as to any Distribution Date, ----------------------------- the amount (but not less than zero) equal to Principal Collections for such Distribution Date less the aggregate of Draws under the Credit Line Agreements during the related Collection Period.
Alternative Principal Payment. As to any Distribution Date, the greater of (x) __% of the Investor Certificate Principal Balance immediately prior to such Distribution Date and (y) the amount (but not less than zero) equal to the aggregate amount of Principal Collections received during the related Collection Period less the aggregate amount of Draws made during the related Collection Period; provided, however, that if the Overcollateralization Amount exceeds the Required Overcollateralization Amount on such Distribution Date, an amount equal to the Overcollateralization Adjustment Amount shall be deducted from the amount calculated in clause (y) of this definition.
Alternative Principal Payment. As to any Payment Date, the amount (but not less than zero) equal to Net Principal Collections for such Payment Date.