Available Principal Distribution Amount definition

Available Principal Distribution Amount means, for any Payment Date and the related Collection Period, an amount equal to the excess, if any, of (a) the sum of (i) Available Funds remaining after the Servicer has been paid the Servicer Monthly Payment and (ii) the Reserve Account Draw Amount over (b) accrued interest paid on the Notes on such Payment Date.

Available Principal Distribution Amount means, in respect of any Interest Payment Date, the amount calculated by the Transaction Manager as at the Calculation Date immediately preceding such Interest Payment Date as being equal to:

Available Principal Distribution Amount means, for any Distribution Date, the sum of the following amounts with respect to the preceding Collection Period: (i) that portion of all collections of Scheduled Payments and prepayments in full or in part on Receivables allocable to principal; (ii) Liquidation Proceeds and other Recoveries allocable to the principal amount of Liquidated Receivables and Defaulted Receivables in accordance with the Servicer's customary servicing procedures; (iii) Risk Default Insurance Proceeds to the extent not allocable to interest as determined by the Servicer; (iv) amounts deposited in the Collection Account pursuant to Section 3.02(b) in respect of Receivables that became Substitute Receivables during the related Collection Period; and (v) to the extent attributable to principal, the Purchase Amount of each Receivable that became a Purchased Receivable during the preceding Collection Period; provided, however, that in calculating the Available Principal Distribution Amount the following will be excluded: all payments and proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchase Amount of which has been included in the Principal Distributable Amount with respect to a prior Distribution Date.

Examples of Available Principal Distribution Amount in a sentence

• Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payment Priorities.

• On each Settlement Date, the Cash Administrator shall (on behalf of the Issuer) calculate the Available Principal Distribution Amount for application under this Condition 8 on such Settlement Date or on the immediately following Principal Payment Date.

• The purchase of Additional Auto Loans by the Issuer shall be funded out of the Available Principal Distribution Amount, to the extent available, in accordance with the Pre-Enforcement Principal Payment Priorities.

• Prior to the delivery of an Enforcement Notice, but during the Revolving Period, the Available Principal Distribution Amount determined by the Transaction Manager in respect of the Collection Period immediately preceding each Interest Payment Date will be applied by the Transaction Manager on each Interest Payment Date, in or towards purchasing Additional Mortgage Assets.

• Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payments Priorities.

More Definitions of Available Principal Distribution Amount

Available Principal Distribution Amount means, in respect of any Interest Payment Date, the amount calculated by the Cash Manager on the Calculation Date immediately preceding such Interest Payment Date equal to the sum of:

Available Principal Distribution Amount means, in respect of such Interest Payment Date (“the relevant Interest Payment Date”), the result of:

Available Principal Distribution Amount means, for any Distribution Date, the sum (without duplication) of the following amounts received with respect to the preceding Collection Period: (i) that portion of all collections on Receivables allocable to principal; (ii) Liquidation Proceeds attributable to principal with respect to Receivables that became Liquidated Receivables during the Collection Period in accordance with the Servicer's customary servicing procedures; (iii) proceeds attributable to principal from recoveries with respect to Liquidated Receivables that became Liquidated Receivables during prior Collection Periods; (iv) the amount, if any, to be withdrawn from the Simple Interest Differential Account with respect to such Distribution Date; and (v) to the extent attributable to principal, the Purchase Amount of each Receivable that became a Purchased Receivable during the related Collection Period; provided, however, that, in calculating the Available Principal Distribution Amount, all payments and proceeds (including Liquidation Proceeds) of any Purchased Receivables the principal portion of the Purchase Amount of which has been included in the Available Principal Distribution Amount in a prior Collection Period that are allocable to principal will be excluded.

Available Principal Distribution Amount means, in respect of any Interest Payment Date, the amount calculated by the Transaction Manager, in conjunction with the Servicer (to the extent the Transaction Manager does not possess any of the required information), as at the Calculation Date immediately preceding such Interest Payment Date as being equal to:

Available Principal Distribution Amount means, as calculated by the Cash Administrator (on behalf of the Issuer) on each Settlement Date, an amount equal to the sum of:

Available Principal Distribution Amount means, as calculated on any Determination Date, an amount in euro equal to the sum of:

Available Principal Distribution Amount means, in respect of any Collection Period, the amount of any Unit Principal Distributions and Bond Principal Distributions received by the Issuer on the relevant Fund Distribution Date and, where applicable, amounts standing to the credit of the Issuer Reserve Ledger (as defined below).