Class B Principal Funding Account definition

Class B Principal Funding Account is an account established by the Trustee as an administrative subaccount of the Principal Funding Account.
Sample 1Sample 2Sample 3
Class B Principal Funding Account means the Class B Principal Funding Account established with the Securities Intermediary in the name of the Trustee for the benefit of the Class B Certificateholders pursuant to Section 3(a) of this Agreement, and in which the Class B Principal Investments will be held.
Sample 1Sample 2

Examples of Class B Principal Funding Account in a sentence

  • Funds credited to the Class B Principal Funding Account may be invested overnight (to mature on the related Distribution Date) in Permitted Investments of the Paying Agent.

  • The Trustee shall establish the Class A Principal Funding Account, the Class B Principal Funding Account, and the Collateral Interest Principal Funding Account as administrative subaccounts of the Principal Funding Account.

  • On the Class B Expected Final Payment Date, the Trustee shall withdraw, at the direction of the Servicer, all amounts then credited to the Class B Principal Funding Account.

  • On any date upon which the Trustee receives any interest or earnings on any Class B Principal Investment or any Permitted Investment credited to the Class B Principal Funding Account, the Trustee shall withdraw such interest and earnings from the Class B Principal Funding Account, and promptly credit such amount to the Class B Interest Funding Account.

  • On the date hereof, the Seller shall credit the Class B Principal Investments to the Class B Principal Funding Account.

  • The parties hereto agree that the Servicer shall have the power, revocable by the Trustee, to instruct the Trustee to make demands on the amounts held in the Class B Principal Funding Account for the purposes of carrying out the Servicer’s or the Trustee’s duties hereunder.

  • On any date upon which the Trustee receives any interest of earnings on any Permitted Investments credited to the Class B Principal Funding Account, the Trustee shall withdraw such interest and earnings from the Class B Principal Funding Account and promptly credit such amount to the Class B Interest Funding Account.

  • The Class B Principal Funding Account shall be under the sole dominion and control of the Trustee in accordance with Section 2 of this Agreement.

  • The Paying Agent shall distribute such amount withdrawn from the Class B Principal Funding Account as a payment of principal on the Class B Certificates, to the Class B Certificateholders on such Distribution Date.

  • Amount on deposit in the Class B Principal Funding Account as of the end of the calendar year prior to the calendar year listed above.

Related to Class B Principal Funding Account

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Class B Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the amount equal to the lesser of (I) the aggregate Certificate Principal Balance of the Class B Certificates immediately prior to such Distribution Date and (II) the excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the payment of the Class A Principal Distribution Amount on such Distribution Date), (ii) the aggregate Certificate Principal Balance of the Class M‑1 Certificates, the Class M-2 Certificates and the Class M-3 Certificates (after taking into account the payment of the Class M‑3 Principal Distribution Amount on such Distribution Date), (iii) the aggregate Certificate Principal Balance of the Class M‑4 Certificates (after taking into account the payment of the Class M‑4 Principal Distribution Amount on such Distribution Date), (iv) the aggregate Certificate Principal Balance of the Class M‑5 Certificates (after taking into account the payment of the Class M‑5 Principal Distribution Amount on such Distribution Date), (v) the aggregate Certificate Principal Balance of the Class M‑6 Certificates (after taking into account the payment of the Class M‑6 Principal Distribution Amount on such Distribution Date), (vi) the aggregate Certificate Principal Balance of the Class M‑7 Certificates (after taking into account the payment of the Class M‑7 Principal Distribution Amount on such Distribution Date), (vii) the aggregate Certificate Principal Balance of the Class M‑8 Certificates (after taking into account the payment of the Class M‑8 Principal Distribution Amount on such Distribution Date), (viii) the aggregate Certificate Principal Balance of the Class M‑9 Certificates (after taking into account the payment of the Class M‑9 Principal Distribution Amount on such Distribution Date), (ix) the aggregate Certificate Principal Balance of the Class M-10 Certificates (after taking into account the payment of the Class M-10 Principal Distribution Amount on such Distribution Date) and (x) the aggregate Certificate Principal Balance of the Class B Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 95.50% and (ii) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) minus the Overcollateralization Floor.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Class Y Principal Reduction Amounts For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1 and Class Y-2 Regular Interests, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix 1.

  • Class A Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the aggregate Class Certificate Balances of the Class A Certificates immediately prior to such Distribution Date over (ii) the lesser of (A) 54.50% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over $3,608,680.

  • 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 class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.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 principal balance of that class to zero.

  • Class A-P Principal Distribution Amount As defined in Section 4.02.

  • Class A-1 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the excess of (x) the Certificate Principal Balance of the Class A-1 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 55.50% and (ii) the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) minus the product of (i) 0.50% and (ii) the aggregate principal balance of the Group I Mortgage Loans as of the Cut-off Date.

  • Class A Monthly Principal means the monthly principal distributable in respect of the Class A Certificates as calculated in accordance with subsection 4.07(a).

  • Class A Note Initial Principal Balance means $750,000,000.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Class B Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class B Percentage for that distribution date, plus any Class B Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class B Noteholders’ Principal Distribution Amount will not exceed the principal balance of the class B notes.In addition, on the class B maturity date, the principal required to be distributed to the class B noteholders will include the amount required to reduce the outstanding principal balance of the class B notes to zero.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • 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 Monthly Principal means the monthly principal distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.07(b).

  • Class B Principal Parity Amount means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes and of the Class B Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount for such Distribution Date plus any payments made on the Class A Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (vi) of Section 5.7(a) on such Distribution Date.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • Group II Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group II Basic Principal Distribution Amount for such Distribution Date and (ii)(a) the Extra Principal Distribution Amount for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Class A Principal Parity Amount means, with respect to any Distribution Date, the lesser of (I) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (iii) of Section 5.7(a) on such Distribution Date.