Class B Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) the positive difference of (x) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto minus (y) the Class A Principal Distributable Amount and (ii) the Class B Note Balance; provided, however, on the Class B Stated Final Maturity Date, the Class B Principal Distributable Amount will equal the Class B Note Balance.
Class B Principal Distributable Amount means, with respect to any Distribution Date, the sum of Class B Monthly Principal for such Distribution Date and, in the case of any Distribution Date other than the initial Distribution Date, the Class B Principal Carryover Shortfall as of the close of business on the preceding Distribution Date; provided that the Class B Principal Distributable Amount shall not exceed the Class B Certificate Balance prior to such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class B Principal Distributable Amount shall 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 Class B Distribution Account on such Distribution Date and allocable to principal) to reduce the Class B Certificate Balance to zero.
Class B Principal Distributable Amount means, with respect to any Distribution Date, the Class B Percentage of the Monthly Principal Payment (but not exceeding the Class B Certificate Balance as of such Distribution Date).
More Definitions of Class B Principal Distributable Amount
Class B Principal Distributable Amount means, with respect to any Distribution Date, the amount distributable in respect of principal on the Class B Notes on such Distribution Date which amount shall equal the excess of (i) the sum of the outstanding principal amount of (a) the Class A Notes (after taking into account payment of the Class A Principal Distributable Amount for that Distribution Date) and (b) the Class B Notes immediately prior to such Distribution Date over (ii) the lesser of (a) the Class B Principal Percentage of the Aggregate Principal Balance as of the last day of the related Collection Period or (b) the excess of such Aggregate Principal Balance over the Overcollateralization Floor Amount; provided, however, that on any Distribution Date that the Net Chargeoff Percentage exceeds the Sequential Payment Trigger, the Class B Principal Distributable Amount shall equal the lesser of (i) the excess of the Aggregate Principal Distributable Amount over the Class A Principal Distributable Amount or (ii) the outstanding principal amount of the Class B Notes; provided, further, that on any Distribution Date on and after the Class B Final Scheduled Distribution Date, the Class B Principal Distributable Amount will not be less than the amount that is necessary to pay the outstanding principal amount of the Class B Notes.
Class B Principal Distributable Amount means, with respect to -------------------------------------- any Distribution Date, the sum of (a) Class B Monthly Principal for such Distribution Date and (b) the Class B Principal Carryover Shortfall for such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class B Principal Distributable Amount will include any additional amount required to reduce the Class B Certificate Principal Balance to zero.
Class B Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to (a) the sum of (i) the Outstanding Amount of the Class A Notes (after taking into account distribution of the Class A Principal Distributable Amount on such Distribution Date) and (ii) the Outstanding Amount of the Class B Notes immediately prior to such Distribution Date minus (b) the lesser of (i) 92.75% of the Pool Balance for such Distribution Date and (ii) an amount equal to (A) the Pool Balance for such Distribution Date minus (B) the Overcollateralization Target Amount for such Distribution Date; provided, however, that, for (I) any Distribution 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 Distribution Date and (II) each subsequent Distribution Date as of which the Six-Month Annualized Net Loss Ratio is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on that Distribution Date, the Class B Principal Distributable Amount shall be an amount equal to (x) 100% of the Regular Principal Allocation for such Distribution Date minus (y) the Class A Principal Distributable Amount for such Distribution Date; provided further that, on the Class B Final Scheduled Distribution Date, the Class B Principal Distributable Amount shall not be less than the amount that is necessary to pay the Class B Notes in full; and provided further that the Class B Principal Distributable Amount on any Distribution Date shall not exceed the Outstanding Amount of the Class B Notes on that Distribution Date.
Class B Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Class B Percentage of the following amounts (but not exceeding the Class B Certificate Balance as of such Distribution Date): (i) in the case of Precomputed Receivables, the principal portion of all Scheduled Payments due during the related Collection Period, computed in accordance with actuarial method, (ii) in the case of Simple Interest Receivables, the principal portion of all Scheduled Payments actually received during the related Collection Period, (iii) the principal portion of all Prepayments received during such Collection Period (to the extent such amounts are not included in clauses (i) and (ii) above), and (iv) the Principal Balance of each Receivable that became an Administrative Receivable, a Warranty Receivable or a Defaulted Receivable during such Collection Period (to the extent such amounts are not included in clauses (i), (ii) and (iii) above). In addition, with respect to the Final Scheduled Distribution Date or the Distribution Date upon which all remaining Receivables are to be purchased pursuant to Section 10.02, the Class B Principal Distributable Amount will include the portion of such amount necessary (after giving effect to the other amounts to be distributed to the Class B Certificateholders on such Final Scheduled Distribution Date or Distribution Date and allocable to principal) to reduce the Class B Certificate Balance to zero.
Class B Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Class B Monthly Principal Distributable Amount for such Distribution Date and the Class B Principal Carryover Shortfall as of the close of the preceding Distribution Date; provided, however, that the Class B Principal Distributable Amount shall not exceed the Class B Certificate Balance. In addition, on the Final Scheduled Distribution Date, the principal required to be included in the Class B Principal Distributable Amount will include the lesser of (a) the Class B Percentage of (1) any Scheduled Payments of principal due and remaining unpaid on each Precomputed Receivable and (2) 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 Distribution Account on such Distribution Date and allocable to principal) to reduce the Class B Certificate Balance to zero.
Class B Principal Distributable Amount. “ shall mean, for any Distribution Date, the amount distributable in respect of principal of the Class B Notes on such Distribution Date which amount shall equal the excess of (i) the principal amount of the Class B Notes as of the day preceding such Distribution Date over (ii) an amount equal to approximately 3.053435% of the amount by which the Pool Balance as of the last day of the preceding Collection Period exceeds the Overcollateralization Target Amount for such Distribution Date; provided, however, that the Class B Principal Distributable Amount for the Class B Final Distribution Date (and any subsequent Distribution Date until the principal amount of the Class B Notes is paid in full) will not be less than the amount that is necessary to pay the outstanding principal amount of the Class B Notes.