Average Principal Balance means for any Monthly Period in which a Reset Date occurs, the sum of (i) the Aggregate Principal Receivables determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Reset Date, and the denominator of which is the number of days in such Monthly Period, and (ii) for each such Reset Date, the product of the Aggregate Principal Receivables determined as of the close of business on such Reset Date, multiplied by a fraction, the numerator of which is the number of days from and including such Reset Date, to the earlier of the last day of such Monthly Period (in which case such period shall include such date) or the next succeeding Reset Date (in which case such period shall exclude such date), and the denominator of which is the number of days in such Monthly Period.
Average Principal Balance means, for a Monthly Period in which ------------------------- Additional Accounts are designated for inclusion in or Removed Accounts are designated for removal from the Trust, the weighted average of the Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period and the Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date, as applicable, weighted, respectively, by a fraction, the numerator of which is the number of days from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date, as applicable, and the denominator of which is the number of days in such Monthly Period, and by a fraction, the numerator of which is the number of days from and including the related Addition Date or Removal Date, as applicable, to and including the last day of such Monthly Period, and the denominator of which is the number of days in such Monthly Period.
Average Principal Balance means for any Monthly Period in which a Reset Date occurs, the sum of (i) the Aggregate Principal Receivables determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction, the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Reset Date, and the denominator of which is the number of days in such Monthly Period and (ii) for each such Reset Date, the product of the Aggregate Principal Receivables determined as of the close of business on such Reset Date, multiplied by a fraction, the numerator of which is the number of days from and including such Reset Date, to the earlier of the last day of such Monthly Period (in which case such period shall include such date) or the next succeeding Reset Date (in which case such period shall exclude such date), and the denominator of which is the number of days in such Monthly Period.
Examples of Average Principal Balance in a sentence
Weighted average original term to stated maturity: __ months; Weighted average loan-to-value ratio: ___%; Average Principal Balance : $___; Average Credit Limit: $____; Weighted average Draw Period: ___ months; Weighted average FICO score: ___; Weighted average margin: __.
Except in the case of a certain MX Class in Groups 4 and 5, payments on each Group will be based solely on payments on the Trust Asset Group with the same numerical designation.Assumed Characteristics of the Mortgage Loans Underlying the Group 4, 5 and 8 Trust Assets(1):Weighted Average Principal Balance Group 4 Trust Assets (1) As of August 1, 2022.
Gross Coupon: 9.823% Gross Coupon Range: 3.000% - 18.000% Average Principal Balance: $65,749.77 Principal Balance Range: $275.85 - $864,064.15 Average Original Principal Balance: $72,230.71 Original Principal Balance Range: $8,900.00 - $865,000.00 Wtd.
Payments on each Group will be based solely on payments on the Trust Asset Group with the same numerical designation.Assumed Characteristics of the Mortgage Loans Underlying the Trust Assets(1):Weighted Average Principal Balance Group 1 Trust Assets (1) As of December 1, 2022.(2) The Mortgage Loans underlying the Trust Assets may bear interest at rates ranging from 0.25% to 1.50% per annum above the related Certificate Rate.
Assumed Characteristics of the Mortgage Loans Underlying the Group 5 and 8 Trust Assets(1):Weighted Average Principal Balance Group 5 Trust Assets (1) As of September 1, 2022.(2) The Mortgage Loans underlying the Group 5 and 8 Trust Assets may bear inter- est at rates ranging from 0.25% to 1.50% per annum above the related Certificate Rate.(3) More than 10% of the Mortgage Loans underlying the Group 5 and 8 Trust Assets may be higher balance Mortgage Loans.
More Definitions of Average Principal Balance
Average Principal Balance means, for any Monthly Period in which an Addition Date occurs, the weighted average of the sum of the Principal Receivables in the Trust and the principal amount on deposit in the Excess Funding Account at the end of the day on the last day of the prior Monthly Period and the sum of the Principal Receivables in the Trust and the principal amount on deposit in the Excess Funding Account at the end of the day on the related Addition Date, weighted, respectively, by a fraction, the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Addition Date, and the denominator of which is the number of days in such Monthly Period, and by a fraction, the numerator of which is the number of days from and including the related Addition Date to and including the last day of such Monthly Period, and the denominator of which is the number of days in such Monthly Period.
Average Principal Balance is calculated by summing the Obligor Principal Balances and dividing by the sum of the aggregate number of Obligors;
Average Principal Balance means, for any Monthly Period in which a reset date occurs, the sum of: • the Aggregate Principal Receivables determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction, the numerator of which is the number of days from and including the first day of that Monthly Period, to but excluding the related reset date and the denominator of which is the number of days in that Monthly Period; and • for each reset date during that Monthly Period, the product of the Aggregate Principal Receivables determined as of the close of business on that reset date, multiplied by a fraction, the numerator of which is the number of days from and including that reset date, to the earlier of the last day of that Monthly Period (in which case that period will include the last day of the Monthly Period) or the next reset date (in which case that period will exclude that reset date), and the denominator of which is the number of days in that Monthly Period.
Average Principal Balance means, for any Due Period in which one or more Reset Dates occur, the weighted average of the Principal Receivables on the first day of each Subperiod in such Due Period, it being understood that such average will be weighted according to a fraction, the numerator of which is the number of days during the relevant Subperiod and the denominator of which is the number of days in such Due Period.
Average Principal Balance means, (a) for any Monthly Period in which no Addition Date or Removal Date occurs, the Principal Receivables in the Trust as of the close of business on the last day of the prior Monthly Period and (b) for any Monthly Period in which Additional Accounts are designated for inclusion in or Removed Accounts are designated for removal from the Trust, the sum of (1) the product of (x) the Principal Receivables in the Trust at the close of business on the last day of the prior Monthly Period and (y) a fraction, (i) the numerator of which is the number of days from and including the first day of such Monthly Period to, but excluding, the initial Addition Date or Removal Date, as applicable, in such Monthly Period and (ii) the denominator of which is the number of days in such Monthly Period and (2) for each Addition Date or Removal Date, as applicable, in such Monthly Period, the product of (x) the Principal Receivables in the Trust at the close of business on any such Addition Date or Removal Date, after giving effect to the addition of Accounts or removal of Accounts and (y) a fraction, (i) the numerator of which is the number of days from and including such Addition Date or Removal Date , as applicable, in such Monthly Period to but excluding the next Addition Date or Removal Date, as applicable, in such Monthly Period (or if there is no subsequent Addition Date or Removal Date in such Monthly Period, to and including the last day of such Monthly Period); and (ii) the denominator of which is the number of days in such Monthly Period.
Average Principal Balance means, with respect to any Collection Period, the sum of the Principal Balance of the Receivables as of the close of business on the last day of the immediately preceding Collection Period and the Principal Balance of the Receivables as of the close of business on the last day of such Collection Period, divided by two.
Average Principal Balance means, (i) for any Monthly Period during the Funding Period, the weighted average of the sum of the Principal Receivables in the Trust and the principal amount on deposit in the Excess Funding Account at the end of the day on the last day of the prior Monthly Period and on the end of the day on each Tuesday in such Monthly Period immediately preceding each Wednesday on which the Invested Amount is increased pursuant to Section 4.17 weighted, respectively, by a fraction, the numerator of which is the number of days from and including each such day to but excluding the next such day, or in the case of the last such day, to but excluding the last day of such Monthly Period, and the denominator of which is the number of days in such Monthly Period, and (ii) for any Monthly Period in which an Addition Date occurs, the weighted average of the sum of the Principal Receivables in the Trust and the principal amount on deposit in the Excess Funding Account at the end of the day on the last day of the prior Monthly Period and the sum of the Principal Receivables in the Trust and the principal amount on deposit in the Excess Funding Account at the end of the day on the related Addition Date, weighted, respectively, by a fraction, the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Addition Date, and the denominator of which is the number of days in such Monthly Period, and by a fraction, the numerator of which is the number of days from and including the related Addition Date to and including the last day of such Monthly Period, and the denominator of which is the number of days in such Monthly Period.