Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.

Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificate Quarterly Principal Distributable Amount for such Distribution Date and any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Distribution Date on which the principal amount of the Class A-4 Notes has been reduced to zero, any Accelerated Principal Distributable Amounts remaining after such reduction shall be included in the Certificate Principal Distributable Amount, and on each Distribution Date thereafter, to and including the Distribution Date on which the Certificate Balance is reduced to zero, the Accelerated Principal Distributable Amount, if any, will be included in the Certificate Principal Distributable Amount. Further, on the Certificate Final Distribution Date, the amount required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.

Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Certificate Percentage of the Regular Principal Distributable Amount for such Distribution Date and (ii) any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. Notwithstanding the foregoing, the Certificate Principal Distributable Amount on the Certificate Final Scheduled Distribution Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Certificates to zero.

Examples of Certificate Principal Distributable Amount in a sentence

The Accelerated Principal Distributable Amount shall only be included in the Note Principal Distributable Amount until all of the Notes have been paid in full, and shall not be included in the Certificate Principal Distributable Amount at any time.
The "CERTIFICATE PRINCIPAL CARRYOVER SHORTFALL" means, as of the close of any Distribution Date, the excess of the Certificate Principal Distributable Amount over the amount in respect of principal that is actually deposited in the Certificate Distribution Account on such Distribution Date.
Notwithstanding the foregoing, the Certificate Principal Distributable Amount on the Final Scheduled Distribution Date for the Certificates shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Certificates to zero.
On the Distribution Date that the Notes are paid in full, and on each succeeding Distribution Date, the Trust will make payments of principal on the Certificates in an amount equal to the Certificate Principal Distributable Amount for such Distribution Date.
On such Distribution Date and each Distribution Date thereafter, principal of the Certificates will be payable in an amount equal to the Certificate Principal Distributable Amount (as defined herein) for such Distribution Date.

More Definitions of Certificate Principal Distributable Amount

Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Certificate Percentage of the Regular Principal Distributable Amount for such Distribution Date and (ii) any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. Notwithstanding the foregoing, the Certificate Principal Distributable Amount on the Final Scheduled Distribution Date for the Certificates shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Certificates to zero.

Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificate Monthly Principal Distributable Amount with respect to such Distribution Date and the Certificate Principal Carryover Shortfall; PROVIDED, HOWEVER, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Certificate Final Scheduled Distribution Date, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.

Certificate Principal Distributable Amount means, with respect to (i) any ------------------------------------------ Distribution Date prior to which the Note Balance has been reduced to zero, zero and (ii) any Distribution Date on or after which the Note Balance has been reduced to zero, the lesser of (a) the Certificate Balance as of the immediately preceding Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date) and (b) the excess of the Certificate Balance as of the immediately preceding Distribution Date over the Pool Balance as of the last day of the related Collection Period less the Yield Supplement Overcollaterization Amount for such Distribution Date; provided, however, that the Certificate Principal Distributable Amount payable to the Certificateholders on the Certificate Final Distribution Date will equal the greater of the amount described above and the amount that is necessary, after giving effect to all payments of principal to the Certificateholders on such Distribution Date, to reduce the Certificate Balance to zero.

Certificate Principal Distributable Amount means, with respect to any Payment Date, (i) the component of the Available Amount attributable to the Principal Distributable Amount less (ii) the sum of (a) the Note Principal Distributable Amount, (b) any amount that has been deposited into the Reserve Fund as described in clause (vi) of Section 4.06(c) and (c) the Certificate Interest Distributable Amount.

Certificate Principal Distributable Amount. With respect to (i) any Distribution Date prior to the Final Scheduled Distribution Date, the sum of (a) the Certificate Percentage of the Principal Distributable Amount, (b) amounts transferred from the Pre-Funding Account to the Certificate Account on such Distribution Date, if any, pursuant to Section 3.14(b) less any undistributed income or gain from investments on deposit in the Pre-Funding Account so transferred, and (c) the Certificate Principal Carryover Shortfall with respect to such Distribution Date, and (ii) the Final Scheduled Distribution Date, the Certificate Balance (before giving effect to any distribution on the Certificates on such Final Scheduled Distribution Date). Certificate Rate: 6.36% per annum, any regular monthly computation of interest at such rate being based upon annual interest at such rate on the applicable amount divided by twelve; provided that if a Registration Statement on Form S-3 with respect to the Certificates is not declared effective within 120 days of the Closing Date, the Certificate Rate shall be 6.61% per annum from the Distribution Date next succeeding expiration of such 120 day period.