Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.
Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount sufficient to reduce the outstanding principal amount of the Certificates to an amount equal to the product of the Certificateholders’ Percentage and the Pool Balance as of the end of the related Collection Period.
Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificateholders' Quarterly Principal Distributable Amount for such Distribution Date and the Certificateholders' Principal Carryover Shortfall as of the close of the preceding Distribution Date; provided, however, that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Final Scheduled Distribution Date, the principal required to be included in the Certificateholders' Principal Distributable Amount will include the lesser of (a)
Examples of Certificateholders' Principal Distributable Amount in a sentence
Principal Distributable Amount" means, with respect to any Payment Date, the sum of the Certificateholders' Monthly Principal Distributable Amount for such Payment Date and the Certificateholders' Principal Carryover Shortfall as of the close of the preceding Payment Date; provided, however, that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance.
Distributable Amount" means, with respect to any Distribution Date, the sum of the Certificateholder's Principal Distributable Amount and the Certificateholders' Interest Distributable Amount.
Distributable Amount" means, with respect to any Payment Date, the sum of the Certificateholders' Principal Distributable Amount and the Certificateholders' Interest Distributable Amount.
The Certificateholders' Principal Distributable Amount generally will be based on the Certificateholders' Percentage of the Principal Distribution Amount, which for any Payment Date will be based upon decreases in the Note Value of the Receivables and/or collections on and losses in respect of the principal of the Receivables during the related Collection Period.
To evidence such subrogation, the Certificate Registrar shall note the Insurer's rights as subrogee upon the register of Certificateholders upon receipt from the Insurer of proof of payment by the Insurer of any Certificateholders' Interest Distributable Amount or Certificateholders' Principal Distributable Amount.
More Definitions of Certificateholders' Principal Distributable Amount
Certificateholders' Principal Distributable Amount means, for any Payment Date, the sum of (i) the Certificateholders' Monthly Principal Distributable Amount for such Payment Date and (ii) the Certificateholders' Principal Carryover Shortfall for such Payment Date; provided that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Certificate Final Scheduled Payment Date, the principal required to be distributed to the Certificateholders will include the lesser of (a) any payments of principal due and remaining unpaid on each Receivable owned by the Issuer as of the last day of the immediately preceding Collection Period and (b) the amount that is necessary (after giving effect to the other amounts to be deposited in the Certificate Distribution Account on such Payment Date and allocable to principal) to reduce the Certificate Balance to zero, in either case after giving effect to any required distribution of the Noteholders' Principal Distributable Amount to the Note Distribution Account.
Certificateholders' Principal Distributable Amount means, for any Distribution Date, the sum of the Certificateholders' Monthly Principal Distributable Amount for such Distribution Date and the Certificateholders' Principal Carryover Shortfall as of the close of the preceding Distribution Date; provided that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Final Scheduled Distribution Date for the Certificates, the Certificateholders Principal Distributable Amount will include, to the extent not included under the preceding sentence, the amount that is necessary (after giving effect to the other amounts to be deposited in the Certificate Distribution Account on such Distribution Date and allocable to principal) to reduce the Certificate Balance to zero.
Certificateholders' Principal Distributable Amount. With respect to any Distribution Date, the sum of the Certificateholders' Monthly Principal Distributable Amount for such Distribution Date and any outstanding Certificateholders' Principal Carryover Shortfall as of the close of the preceding Distribution Date. In addition, on the Final Scheduled Distribution Date, the amount required to be distributed to Certificateholders in respect of the Certificate Balance shall include the lesser of (i) the sum of the principal portion of any Scheduled Payments of principal due and remaining unpaid on each Receivable, in each case in the Trust as of the last day of the related Monthly Period, and (ii) the amount that is necessary (after giving effect to the other amounts to be deposited in the Certificate Distribution Account on the day preceding such Distribution Date and allocable to payments in respect of the Certificate Balance) to reduce the Certificate Balance to zero, in either case after giving effect to any required distribution of the Aggregate Noteholders' Principal Distributable Amount to the Note Distribution Account. In addition, on any Distribution Date on which, after giving effect to all distributions to the Servicer and the Securityholders on such Distribution Date, (i) the outstanding principal balance of the Notes is zero and (ii) the amount on deposit in the Reserve Account is equal to or greater than the Certificate Balance, the Certificateholders' Principal Distributable Amount shall include an amount equal to such Certificate Balance.
Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, the Certificateholders' Percentage of the following items: (a) in the case of Precomputed Receivables, the principal portion of all Scheduled Payments due during the related Collection Period, computed in accordance with the actuarial method, (b) in the case of Simple Interest Receivables, the principal portion of all Scheduled Payments actually received during the related Collection Period, (c) the principal portion of all Prepayments on Simple Interest Receivables and prepayments in full of Precomputed Receivables received during the related Collection Period (to the extent such amounts are not included in clauses (a) and (b) above) and (d) the Principal Balance of each Receivable that the Servicer became obligated to purchase, the Seller became obligated to repurchase or that became a Defaulted Receivable during the related Collection Period (to the extent such amounts are not included in clauses (a), (b) and (c) above).
Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificateholders' Monthly Principal Distributable Amount for such Distribution Date and the Certificateholders' Principal Carryover Shortfall for such Distribution Date; provided, however, that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Final Scheduled Distribution Date, the principal required to be included in the Certificateholders' Principal Distributable Amount will include the amount that is necessary (after giving effect to the other amounts to be deposited in the Certificate Distribution Account on such Distribution Date and allocable to principal) to reduce the Certificate Balance to zero.
Certificateholders' Principal Distributable Amount. With respect to any Distribution Date (other than the Final Scheduled Distribution Date), the sum of the Certificateholders' Monthly Principal Distributable Amount for such Distribution Date and any Certificateholders' Principal Carryover Shortfall as of the close of the preceding Distribution Date; PROVIDED, HOWEVER, that the Certificateholders' Principal Distributable Amount shall not exceed the Certificate Balance. The "Certificateholders' Principal Distributable Amount" on the Final Scheduled Distribution Date will equal the Certificate Balance as of the Final Scheduled Distribution Date.
Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificateholders’ Monthly Principal Distributable Amount for such Distribution Date and the Certificateholders’ Principal Carryover Shortfall as of the close of the preceding Distribution Date; provided, however, that the Certificateholders’ Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Final Scheduled Distribution Date, the principal required to be included in the Certificateholders’ Principal Distributable Amount will include the lesser of (a) (i) any Scheduled Payments of principal due and remaining unpaid on each Precomputed Receivable and (ii) any principal due and remaining unpaid on each Simple Interest Receivable, in each case, in the Trust as of the Final Scheduled Maturity Date or (b) the amount that is necessary (after giving effect to the other amounts to be deposited in the Certificate Distribution Account on such Distribution Date and allocable to principal) to reduce the Certificate Balance to zero.