Class B Floating Allocation Percentage means, with respect to -------------------------------------- any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Class B Adjusted Invested Amount as of the last day of the preceding Monthly Period and the denominator of which is the total amount of Principal Receivables in the Trust as of the last day of such preceding Monthly Period; provided, however, that, with respect to the first Monthly Period, the -------- ------- Class B Floating Allocation Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the total amount of Principal Receivables on the Closing Date; provided further, that with respect to any Monthly Period in which an -------- ------- Addition Date or Removal Date occurs and the Servicer need not make daily deposits of Collections into the Collection Account, the denominator in the definition of the Class B Floating Allocation Percentage shall be the Average Principal Balance; provided further, that with respect to any Monthly Period in -------- ------- which an Addition Date or Removal Date occurs and the Servicer is required to make daily deposits of Collections into the Collection Account, the denominator in the definition of the Class B Floating Allocation Percentage shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date, as applicable, and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date, as applicable, for the period from and including such Addition Date or Removal Date, as applicable, to and including the last day of such Monthly Period.
Class B Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class B Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a) the sum of the Pool Balance and the amount on deposit in the Excess Funding Account as of the end of the preceding Business Day and (b) the sum of the numerators used to calculate the allocation percentages with respect to Principal Collections for all Series.
Class B Floating Allocation Percentage means, for any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction:
Examples of Class B Floating Allocation Percentage in a sentence
Upon the occurrence of any Class B Incremental Funding, the Class B Floating Allocation Percentage, the Class B Investor Interest, the Floating Allocation Percentage, the Class B Funded Amount and the Investor Interest shall increase as provided herein.
The share of the Investor Monthly Servicing Fee allocable to the Class B Investor Interest with respect to any Due Period (the "Class B Servicing Fee") shall be equal to the product of (i) the Investor Monthly Servicing Fee and (ii) the Weighted Average Class B Floating Allocation Percentage for such Due Period.
The share of the Investor Monthly Servicing Fee allocable to the Class B Certificateholders for any Distribution Date (the "Class B Servicing Fee") shall be equal to the product of (a) the Class B Floating Allocation Percentage divided by the Floating Allocation Percentage, in each case for such Distribution Date, and (b) the Investor Monthly Servicing Fee for such Distribution Date; provided, however, that for the first Distribution Date, the Class B Servicing Fee shall be equal to $133,611.11.
The share of the Servicing Fee allocable to the Class A Invested Amount (the "Class A Servicing Fee"), the Class B Invested Amount (the "Class B Servicing Fee") and the Class C Invested Amount (the "Class C Servicing Fee") with respect to any Transfer Date shall equal the Class A Floating Allocation Percentage, Class B Floating Allocation Percentage and Class C Floating Allocation Percentage, respectively, of such Servicing Fee.
More Definitions of Class B Floating Allocation Percentage
Class B Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class B Invested Amount for such Business Day and the denominator of which is the sum of the total amount of Principal Receivables in the Trust and the amount on deposit in the Excess Funding Account as of the end of the preceding Business Day.
Class B Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Class B Invested Amount as of (x) during the Revolving Period or the Accumulation Period with respect to Collections of Finance Charge Receivables and at all times with respect to Defaulted Amounts, the close of business on the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Closing Date) and (y) during an Early Amortization Period with respect to Collections of Finance Charge Receivables, the close of business on the last day of the Monthly Period immediately preceding the occurrence of an Early Amortization Event and the denominator of which is the greater of (a) the total amount of Principal Receivables plus the amount on deposit in the Special Funding Account as of the close of business on such date and (b) when used with respect to Collections of Finance Charge Receivables, the sum of the numerators with respect to all Classes of all Series and Participations then outstanding used to calculate the applicable allocation percentage.
Class B Floating Allocation Percentage means, with respect to any Due Period, the excess (if any) of 100% over the Class A Floating Allocation Percentage for such Due Period.
Class B Floating Allocation Percentage means, with respect to any Collection Period, the percentage equivalent of a fraction, the numerator of which is equal to the Class B Invested Amount as of the last day of the immediately preceding Collection Period (or the Class B Initial Invested Amount, in the case of the first Collection Period applicable to Series 1998-1) and the denominator of which is equal to the greater of (i) the sum of (a) the Aggregate Principal Receivables in the Trust as of the last day of the immediately preceding Collection Period (or the Closing Date, in the case of the first Collection Period applicable to Series 1998-1) plus (b) the Excess Funding Amount at the end of such day and (ii) the sum of the numerators used to calculate the corresponding Invested Percentages with respect to all Classes of all Series outstanding as of the date on which such determination is being made; provided, however, that, with respect to any Collection Period during which Supplemental Accounts are included as Accounts pursuant to Section 2.6(a) or Section 2.6(b), the denominator in clause (i) above shall be increased by the amount of Principal Receivables in such Supplemental Accounts as of the Supplemental Cut-Off Date on and after the Supplemental Closing Date applicable to such Supplemental Accounts.
Class B Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class B Adjusted Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a) the sum of the amount of Principal Receivables in the Trust and the amounts on deposit in the Equalization Account as of the end of the preceding Business Day and (b) with respect to Principal Collections only, the sum of the numerators with respect to all Classes of all Series then outstanding on such Business Day used with respect to Principal Collections to calculate the applicable allocation percentage.
Class B Floating Allocation Percentage means, with respect to -------------------------------------- any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the Class B Initial Invested Amount) and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on the last day of such preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount).
Class B Floating Allocation Percentage means, for any Monthly -------------------------------------- Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction: