Class B Principal means the principal distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.7(b).
Class B Principal means the principal distributable in respect of the Class B Securities as specified in subsection 4.7(b) of the Agreement.
Class B Principal. The Class B Certificates will receive (1) all Excess Spread remaining after payment of Senior Principal and Interest and certain other amounts and (2) all Overcollateralization Reduction Amounts until the bond is retired in full (essentially all cashflow not required by the Senior Certificates). As the Subordination is reduced by application of Excess Spread, the protection provided by the accelerated amount of the Class B Certificates to the Senior Certificates will be replaced by Overcollateralization.
Examples of Class B Principal in a sentence
The amount of Reallocated CIA and Class B Principal Collections applied in respect of Interest Shortfalls, Investor Default Amounts or Investor Charge-Offs for the prior month.
The amount of Reallocated CIA and Class B Principal Collections applied in respect of Interest Shortfalls, Investor Default Amounts or Investor Charge-Offs for the prior month Class B $0.00 CIA Inv.
The amount of Reallocated Excess Collateral and Class B Principal Collections applied in respect of Interest Shortfalls, Investor Default Amounts or Investor Charge-Offs for the prior month Class B $0.00 Excess Collateral Amt.
The amount of Reallocated Collateral and Class B Principal Collections applied in respect of Interest Shortfalls, Investor Default Amounts or Investor Charge-Offs for the prior month.
On or After Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds for such prior Due Period $ 0.00 c.
More Definitions of Class B Principal
Class B Principal means, with respect to the Class B Expected Final Payment Date, the unpaid principal amount of the Class B Certificates immediately prior to such Distribution Date.
Class B Principal. On the Transfer Date preceding the Class B Principal Payment Commencement Date and each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account or, following the occurrence of a Defeasance, the Defeasance Funding Account and deposit in the Distribution Account, to the extent of funds available, an amount equal to the Class B Principal for the related Distribution Date. On and after the Class B Principal Payment Commencement Date, on each Distribution Date until the Class B Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class B Securityholders from the Distribution Account such amounts deposited with respect to Class B Principal into the Distribution Account on the related Transfer Date.
Class B Principal. Balance shall be:
Class B Principal. On the Transfer Date preceding the Class B Principal Payment Commencement Date and each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account or, following the occurrence of a Defeasance, the Defeasance Funding Account and deposit in the Distribution Account, to the extent of funds available, an amount equal to the Class B Principal for the related Distribution Date. On and after the Class B Principal Payment Commencement Date, on each Distribution Date until the Class B Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class B Securityholders from the Distribution Account such amounts deposited with respect to Class B Principal into the Distribution Account on the related Transfer Date. CTO Principal. On the Transfer Date preceding the CTO Principal Payment Commencement Date and each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account or, following the occurrence of a Defeasance, the Defeasance Funding Account and deposit in the Distribution Account, to the extent of funds available, an amount equal to the CTO Principal for the related Distribution Date. On and after the CTO Principal Payment Commencement Date, on each Distribution Date until the CTO Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the CTO Securityholders from the Distribution Account such amounts deposited with respect to CTO Principal into the Distribution Account on the related Transfer Date.
Class B Principal. Balance: Seller Class B Purchaser Class B Principal Balance Prior to Sale: $ Class B Principal Balance Sold: $ Class B Principal Balance Retained: $ [Purchasing Class B Purchaser] A. Type of Purchaser: CP Conduit: Yes/No Committed Purchaser: Yes/No
Class B Principal means, with respect to any Distribution Date, the sum of the Class B Percentage of: (i) the principal portion of all Scheduled Payments due on the Receivables during the preceding Collection Period; (ii) the Principal Balance of each Receivable that became a Prepaid Receivable during the preceding Collection Period (without duplication of amounts included in clause (i) above or clause (iv) below); (iii) the Principal Balance of each Receivable that became a Purchased Receivable under an obligation that arose during the preceding Collection Period (without duplication of amounts included in clause (i)); and (iv) the Principal Balance of each Receivable that became a Defaulted Receivable during the preceding Collection Period (without duplication of amounts referred to in clause (i) or (ii) above). In addition, on the Final Scheduled Distribution Date the "Class B Principal" will include the lesser of (x) the Class B Percentage of any payments of principal due and remaining unpaid on each Receivable in the Trust as of the Final Scheduled Maturity Date (except to the extent previously Advanced) and (y) the portion of such amount that is necessary (after giving effect to the other amounts to be distributed to the Class B Certificateholder on such Distribution Date and allocable to principal) to reduce the Class B Principal Balance to zero, and, in the case of clauses (x) and (y) above, remaining after any required distribution of the amount described in clause (x) or (y) of the definition of "Class A Principal".
Class B Principal shall consist of the Class B Percentage, respectively, of (a) the principal portion of all scheduled payments due on Receivables during the preceding Collection Period; (b) the Principal Balance of each Receivable that became a Prepaid Receivable during the preceding Collection Period except to the extent included in (a) or (d); (c) the Principal Balance of each Receivable that was purchased by the Servicer or repurchased by the Seller, in each case, under an obligation that arose during the preceding Collection Period, except to the extent included in (a); and (d) the principal balance of each Receivable liquidated during the preceding Collection Period, except to the extent included in (a) or (b). A "Collection Period" with respect to a Distribution Date will be the calendar month preceding the month in which such Distribution Date occurs. The "Class B Interest Carryover Shortfall" as of the close of any Distribution Date means the excess, if any, of the Class B Interest for such Distribution Date plus any outstanding Class B Interest Carryover Shortfall from the preceding