Class A Principal Payment Amount means: (1) with respect to any Payment Date on or prior to the Payment Date on which the Principal Amount of the Class A-1 Notes has been reduced to zero, the greater of (i) the excess of (x) the Principal Amount of the Class A-1 Notes over (y) the Class A-1 Scheduled Principal Balance and (ii) the excess of (x) the sum of the Principal Amount of the Class A-1, Class A-2, Class A-3 and Class A-4 Notes over (y) the Class A Target Principal Amount; and (2) with respect to any Payment Date thereafter, the excess of (x) the sum of the Principal Amount of the Class A-2, Class A-3 and Class A-4 Notes over (y) the Class A Target Principal Amount; provided, however, that in no event shall the Class A Principal Payment Amount exceed the Principal Amount of the Class A Notes.
Class A Principal Payment Amount. With respect to each Payment Date, (a) prior to the Stepdown Date or if a Rapid Amortization Event has occurred, the Principal Payment Amount and (b) on or after the Stepdown Date and if a Rapid Amortization Event has not occurred, the lesser of (A) the excess of (i) the Note Principal Amount of the Class A Notes immediately prior to the applicable Payment Date over (ii) the Class A Target Amount and (B) the Principal Payment Amount for such Payment Date.
Class A Principal Payment Amount. With respect to any Payment Date on or after the Stepdown Date, as long as a Trigger Event has not occurred with respect to such Payment Date, an amount equal to the excess of (x) the aggregate Class Principal Amount of the Class A-1 and Class A-2 Notes immediately prior to such Payment Date over (y) the lesser of (A) the product of (i) 85.50% and (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans as of the last day of the related Collection Period and (B) the aggregate Scheduled Principal Balance of the Mortgage Loans as of the last day of the related Collection Period minus the Overcollateralization Floor.
Examples of Class A Principal Payment Amount in a sentence
The Class A Principal Payment Amount is the amount necessary to reduce the outstanding principal amount of the Class A Notes to the Class A Targeted Note Balance.
Rules of repayment of the Class A NotesThe repayment of the Class A Notes will be carried out on a pro rata basis among the Notes of such Class, by means of the reduction of their nominal value until redeemed in full, and will take place on each Payment Date, in the amount necessary to reduce on such Payment Date the Outstanding Nominal Balance of the Class A Notes to an amount equal to the Class A Targeted Note Balance (the "Class A Principal Payment Amount").
Prior to a Foreclosure Event, payments to the Class A Noteholders of principal will be effected only after the payment to the Class B Noteholders of interest and any other amounts ranking senior to the Class A Principal Payment Amount on the respective Payment Date in accordance with the Order of Priority.
The Class A Principal Payment Amount is the amount necessary to reduce the aggregate Principal Outstanding of the Class A Notes to the Class A Targeted Note Balance.
Advice and information should be made available in forms which are accessible by people of allethnic groups and of all abilities.(37) Local authorities should plan the delivery of a sufficient supply, range and location of temporary and supported accommodation.
More Definitions of Class A Principal Payment Amount
Class A Principal Payment Amount means, with respect to a Payment Date, the amount necessary to reduce the Outstanding Aggregate Principal Amount of the Class A-1 Notes, the Class A-2 Notes, Class A-3 Notes, and Class A-4 Notes to the Class A Target Investor Principal Amount.
Class A Principal Payment Amount means, with respect to any Payment Date until the Aggregate Outstanding Principal Balance of the Class A Notes is reduced to zero, the lesser of (1) the sum of (a) Principal Collections for the related Collection Period and (b) the amount of the Class A Principal Payment Amount payable on the prior Payment Date and not paid, if any, and (2) the amount necessary to reduce the Aggregate Outstanding Principal Balance of the Class A Notes to an amount equal to the sum of (x) 90.00% of the Aggregate Receivable Balance as of the end of the related Collection Period and (y) the product of the Class A Initial Note Percentage and the amount on deposit in the Pre-Funding Account, if any; provided, however, that (1) on the Class A-1 Final Scheduled Payment Date, the Class A Principal Payment Amount shall be at least equal to the Aggregate Outstanding Principal Balance of the Class A-1 Notes, (2) on the Class A-2 Final Scheduled Payment Date, the Class A Principal Payment Amount shall be at least equal to the Aggregate Outstanding Principal Balance of the Class A-2 Notes, (3) on the Class A-3-A Final Scheduled Payment Date and the Class A-3-B Final Scheduled Payment Date, the Class A Principal Payment Amount shall be at least equal to the Aggregate Outstanding Principal Balance of the Class A-3-A Notes and the Class A-3-B Notes, respectively, and (4) on the Class A-4-A Final Scheduled Payment Date and the Class A-4-B Final Scheduled Payment Date, the Class A Principal Payment Amount shall be at least equal to the Aggregate Outstanding Principal Balance of the Class A-4-A Notes and the Class A-4-B Notes, respectively.
Class A Principal Payment Amount means, with respect to any Payment Date, an amount equal to the greater of (a) the Outstanding Amount of the Class A-1 Notes immediately prior to such Payment Date and (b) an amount equal to (i) the Outstanding Amount of the Class A Notes immediately prior to such Payment Date minus (ii) the lesser of (A) 90.20% of the Pool Balance for such Payment Date and (B) an amount equal to (1) the Pool Balance for such Payment Date minus (2) the Target Overcollateralization Level for such Payment Date; provided, however, that, on the Final Scheduled Payment Date of any Class of Class A Notes, the Class A Principal Payment Amount shall not be less than the amount that is necessary to pay that class of Class A Notes in full; and provided, further, that the Class A Principal Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class A Notes on that Payment Date.
Class A Principal Payment Amount. (a) For any Payment Date other than the Final Stated Maturity Date for the Class A-4 Notes will equal the lesser of (i) the Required Principal Payment Amount for such Payment Date and (ii) the aggregate Note Balance of the Class A Notes as of the day immediately preceding such Payment Date less the Class A Target Balance for such Payment Date and (b) for the Final Stated Maturity Date for the Class A-4 Notes will equal the aggregate Note Balance of the Class A Notes.
Class A Principal Payment Amount means, with respect to any payment date, an amount equal to the greater of (a) the outstanding principal amount of the Class A-1 notes immediately prior to that payment date and (b) an amount equal to (i) the outstanding principal amount of the Class A notes immediately prior to that payment date MINUS (ii) the lesser of (A) 88.0% of the aggregate principal balance of the receivables as of the last day of the related collection period and (B) an amount equal to (1) the aggregate principal balance of the receivables as of the last day of the related collection period MINUS (2) the Target Overcollateralization Level for that payment date; PROVIDED, HOWEVER, that, unless the Class A notes have been paid in full, for any payment date as of which the Three-Month Annualized Net Loss Ratio is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on that payment date, the Class A Principal Payment Amount will be 100% of the Regular Allocation of Principal for that payment date; PROVIDED, FURTHER, that on the final scheduled payment date of any class of Class A notes, the Class A Principal Payment Amount will not be less than the amount that is necessary to pay that class of Class A notes in full; and PROVIDED, FURTHER, that the Class A Principal Payment Amount on any payment date will not exceed the outstanding amount of the Class A notes on that payment date.
Class A Principal Payment Amount means, with respect to a Distribution Date, (i) while all or any portion of the Class A-1 Notes remain outstanding after giving effect to payments on such Distribution Date, the Monthly Principal Amount; (ii) if such Distribution Date is the Class A-1 Maturity Date, the Principal Amount of the Class A-1 Notes; (iii) if the Principal Amount of the Class A-1 Notes is being reduced to zero on such Distribution Date, the sum of the amount necessary to reduce the Principal Amount of the Class A-1 Notes to zero and the amount necessary to reduce the aggregate Principal Amount of the Class A-2 Notes, Class A-3 Notes, and Class A-4 Notes to the Class A Target Investor Principal Amount; (iv) if the Principal Amount of the Class A-1 Notes is zero, the amount necessary to reduce the aggregate Principal Amount of the Class A-2 Notes, Class A-3 Notes and Class A-4 Notes to the Class A Target Investor Principal Amount; (v) if the Principal Amount of the Class A-1 Notes and Class A-2 Notes is zero, the amount necessary to reduce the aggregate Principal Amount of the Class A-3 Notes and Class A-4 Notes to the Class A Target Investor Principal Amount; and (vi) if the Principal Amount of the Class A-1 Notes, Class A-2 Notes and Class A-3 Notes is zero, the amount necessary to reduce the Principal Amount of the Class A-4 Notes to the Class A Target Investor Principal Amount.
Class A Principal Payment Amount means, with respect to any Payment Date, an amount equal to the greater of (a) the Outstanding Amount of the Class A-1 Notes immediately prior to such Payment Date and (b) an amount equal to (i) the Outstanding Amount of the Class A Notes immediately prior to such Payment Date minus (ii) the lesser of (A) 90.20% of the Pool Balance for such Payment Date and (B) an amount equal to (1) the Pool Balance for such Payment Date minus (2) the Target Overcollateralization Level for such Payment Date; provided, however, that, on the Final Scheduled Payment Date of any Class of Class A Notes, the Class A Principal Payment Amount shall not be less than the amount that is necessary to pay that Class of Class A Notes in full; and provided, further, that the Class A Principal Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class A Notes on that Payment Date.