Available Principal Funds definition

Available Principal Funds. As to any Distribution Date, the aggregate of all previously undistributed amounts received by the Trustee on or prior to such Distribution Date as distributions of principal on the Deposited Underlying Certificates, reduced by the sum of expenses and liabilities reimbursable to the Depositor pursuant to Section 6.03 hereof and any taxes imposed on the Trust Fund to be paid from amounts otherwise distributable to Certificateholders pursuant to Section 5.12 hereof (in each case, that have not been previously paid by a reduction of Available Principal Funds).

Available Principal Funds means all amounts received from the Underlying Securities Issuer or the Underlying Securities Guarantor with respect to principal of the Underlying Securities on the Final Scheduled Distribution Date or any other date.

Available Principal Funds means on any Notes Calculation Date the sum of the following amounts as being received during (or in respect of) the Notes Calculation Period preceding such Notes Calculation Date:

Examples of Available Principal Funds in a sentence

• Until the date on which the Principal Amount Outstanding of all Class A Notes is reduced to zero, the holders of the Class B Notes will not be entitled to any repayment of principal from Available Principal Funds under the Redemption Priority of Payments in respect of the Class B Notes.

• Until the date on which the Principal Amount Outstanding of all Class C Notes is reduced to zero, the holders of the Class D Notes will not be entitled to any repayment of principal from Available Principal Funds under the Redemption Priority of Payments in respect of the Class D Notes.

• Until the date on which the Principal Amount Outstanding of all Class D Notes is reduced to zero, the holders of the Class E Notes will not be entitled to any repayment of principal from Available Principal Funds under the Redemption Priority of Payments in respect of the Class E Notes.

• Provided that no Enforcement Notice has been served in accordance with Condition 10, on each Notes Payment Date, the Issuer shall be obliged to apply the Class C Available Principal Funds (as defined below) to redeem (or partially redeem) the Class C Notes at their Principal Amount Outstanding on a pro rata basis until fully redeemed.

• Until the date on which the Principal Amount Outstanding of all Class E Notes is reduced to zero, the holders of the Class F Notes will not be entitled to any repayment of principal from Available Principal Funds under the Redemption Priority of Payments in respect of the Class F Notes.

More Definitions of Available Principal Funds

Available Principal Funds means, prior to the delivery of an Enforcement Notice by the Security Trustee, the sum of the following amounts, calculated on any Notes Calculation Date, as being received during the immediately preceding Notes Calculation Period or on the immediately succeeding Notes Payment Date;

Available Principal Funds means on any Notes Payment Date, the aggregate amount as being received or held during the immediately preceding Notes Calculation Period:

Available Principal Funds means on a Calculation Date an amount equal to the aggregate of (without double counting):

Available Principal Funds shall have the meaning specified in the first paragraph of Section 4.9 of the Agreement, as amended hereby by Section 9.

Available Principal Funds means the sum of the following amounts calculated on any Notes Calculation Date as being received during (or in respect of) the second preceding Mortgage Calculation Period prior to such Notes Calculation Date (or such other date as set out below):

Available Principal Funds means, prior to the delivery of an Enforcement Notice, the sum of the following amounts, calculated on each Monthly Calculation Date, received or to be received or to be held by the Issuer in respect of the immediately preceding Monthly Calculation Period (or such other time as stated below):

Available Principal Funds means an amount equal to the Floating Rate Available PrincipalFunds and the Fixed Rate Available Principal Funds, less any Excess Available Principal Funds.