Class A Noteholders’ Principal Distribution Amount definition
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes. In addition, on the Maturity Date for any of the Class A Notes, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes (less all amounts, other than Investment Earnings, on deposit in any related Accumulation Account). In addition, on the Maturity Date for any of the Class A Notes, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means (a) as of any Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, the lesser of (i) 100% of the excess, if any, of (x) the Class Note Balance (after taking into account distributions of principal on the immediately preceding Distribution Date or as of the Closing Date in the case of the first Distribution Date) over (y) the excess, if any, of (1) the Asset Balance for such Distribution Date over (2) the Specified Overcollateralization Amount and (ii) the Class A Note Balance immediately before such Distribution Date and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect for such Distribution Date, the excess, if any, of (x) the Class A Note Balance immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 85.0% and (ii) the Asset Balance as of such Distribution Date and (B) the excess, if any, of the Asset Balance for such Distribution Date over the Specified Overcollateralization Amount. Notwithstanding the foregoing, on or after the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date or the Class A-5 Maturity Date, as applicable, the Class A Noteholders’ Principal Distribution Amount shall not be less than the amount that is necessary to reduce the Class A-1 Note Balance, Class A-2 Note Balance, Class A-3 Note Balance, Class A-4 Note Balance or Class A-5 Note Balance, as applicable, to zero.
Examples of Class A Noteholders’ Principal Distribution Amount in a sentence
On any Distribution Date, the principal on the Class A Notes will be paid up to the applicable Class A Noteholders’ Principal Distribution Amount.
On any Distribution Date, the principal on the Class A Notes will be paid to the Class A Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount.
On any Distribution Date, interest on the Class A-6 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class A-5 Notes will be prior in order of principal payment to the Class A-6 Notes, and the Class A-6 Notes will be prior in order of principal payment, up to the applicable Class A Noteholders’ Principal Distribution Amount, to the Class B Notes.
On any Distribution Date, interest on the Class A-[__] Notes will be paid pari passu with the other Class A Notes, and the [Class A-[__] Notes will be prior in order of principal payment to the Class A-[_] Notes, Class A-[_] Notes and Class A-[_] Notes], up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.
On any Distribution Date, interest on the Class A-6 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class A-5 Notes will be prior in order of principal payment to the Class A-6 Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.
More Definitions of Class A Noteholders’ Principal Distribution Amount
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes. In addition, on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date or the Class A-5 Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders' Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes (less all amounts, other than Investment Earnings, on deposit in the Accumulation Account). In addition, on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date, the Class A-5 Maturity Date or the Class A-6 Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Quarterly Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Quarterly Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Quarterly Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the Class A Notes. In addition, on the Note Final Maturity Date for any class of Class A Notes, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the LIBOR-Based Class A Notes plus the amount payable to the Currency Swap Counterparty for principal in the case of the EURIBOR-Based Class A Notes. In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding balance of that class to zero (in the case of the LIBOR-Based Class A Notes) or the U.S. Dollar Notional Principal Balance of that class to zero (in the case of the EURIBOR-Based Class A Notes).
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes (less all amounts, other than Investment Earnings, on deposit in the Accumulation Account). In addition, on the Class A-[·] Maturity Date, the Class A-[·] Maturity Date, or the Class A-[·] Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes. In addition, on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date, the Class A-5 Maturity Date or the Class A-6 Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount times the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders' Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes (less all amounts, other than Investment Earnings, on deposit in any related Accumulation Account). In addition, on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date, the Class A-5 Maturity Date, the Class A-6A Maturity Date or the Class A-6B Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.