Available Principal Amount definition

Available Principal Amount. (i) with respect to all series of Notes, means the Available Principal Amount (as defined in the Series 2002-CC Supplement) which is payable to the Series 2002-CC Certificateholder pursuant to Article V of the Pooling and Servicing Agreement as supplemented by the Series 2002-CC Supplement and (ii) with respect to any series of Notes, has the meaning specified in the related Indenture Supplement.

Available Principal Amount means, with respect to each Payment Date, an amount calculated by the Calculation Agent on the Calculation Date immediately preceding such Payment Date as the sum of:

Available Principal Amount means with respect to a class of a Series, on any date of determination, the Commitment Amount of such class of such Series less the principal amount outstanding of such class of such Series on such date.

Examples of Available Principal Amount in a sentence

• On each Distribution Date following the service of a Notice to Pay on the Covered Bond Guarantor (but prior to the service of a Covered Bond Guarantee Acceleration Notice), the Covered Bond Guarantor will apply the Available Income Amount and the Available Principal Amount in accordance with the Guarantee Priority of Payments.

• The Covered Bond Guarantor will be entitled to apply the Available Principal Amount in order to repay earlier maturing Series of Covered Bonds, which may mean that there may be fewer Assets available to support later maturing Series of Covered Bonds.

• The Issuer shall be obligated to purchase and acquire Receivables for purposes of a Replenishment only to the extent that the obligation to pay the purchase price for the Receivables offered to the Issuer by the Seller for purchase on any Purchase Date can be satisfied by the Issuer by applying the Available Principal Amount as of the Cut-Off Date immediately preceding the relevant Purchase Date in accordance with the Pre-Enforcement Principal Priority of Payments.

• The Issuer shall be obligated to purchase and acquire Additional Receivables for purposes of a replenishment only to the extent that the obligation to pay the Principal Component Purchase Price on such Subsequent Purchase Date can be satisfied in whole (but not in part) by the Issuer by applying the Available Principal Amount in accordance with item second of the Pre- Enforcement Principal Priority of Payments.

• On each Distribution Date the Trustee will allocate interest and principal to each Noteholder (including the Class A1-R Noteholders) to the extent of the Available Income Amount and Available Principal Amount on that Distribution Date available to be applied for these purposes.

More Definitions of Available Principal Amount

Available Principal Amount means the difference between (i) $50,000,000 (or such lesser amount that reflects reductions in the aggregate principal amount of the Collateral Bonds pursuant to Section 2.02(c) or Section 2.03(b)) and (ii) the sum of Credit Repurchase Amounts and Hedge Repurchase Amounts previously paid in satisfaction of, respectively, Credit Repurchase Requirements and Hedge Repurchase Requirements.

Available Principal Amount means, with respect to any Distribution Date, the sum of the following amounts, without duplication, with respect to the preceding Collection Period: (i) that portion of all Collections received during such Collection Period (including any such amounts constituting Prepayment Proceeds but excluding the discounted portion of any Discounted Receivable) allocable to principal, (ii) the portion of all Acquisition Amounts received during such Collection Period allocable to principal and (iii) the portion of the Available Interest Amount deposited in the Principal Funding Account pursuant to Section 5.04(b)(i)(E), but excluding in all cases (x) all payments and proceeds of any Acquired Receivables the principal portion of which has been included in the Principal Distribution Amount in a prior Collection Period and (y) any Excluded Amounts.

Available Principal Amount means, on any date of determination:

Available Principal Amount in relation to a Determination Date and the immediately following Monthly Distribution Date means an amount calculated as follows: APA = PC + PCOR + OPA + RBA + SRFA where: APA = the Available Principal Amount as at that Determination Date; PC = the Principal Collections for the Collection Period ending on that Determination Date; PCOR = the Principal Chargeoff Reimbursement as at that Determination Date; OPA = the Other Principal Amounts as at that Determination Date; RBA = the Redraw Bond Amount as at that Determination Date; and SRFA = the Standby Redraw Facility Advance on the immediately following Monthly Distribution Date.

Available Principal Amount. With respect to any Sub-Pool and for a particular Remittance Date, the excess, if any, of the amount described in the definition of Class A Principal Remittance Amount without giving effect to clause (a) thereof over the amount described in the definition of Class A Principal Remittance Amount, after giving effect to clause (a) thereof.

Available Principal Amount means, on any Calculation Date preceding a Payment Date, an amount equal to:

Available Principal Amount with respect to any Series of Notes, has the meaning specified in the related Indenture Supplement.