Class B Principal Payment Amount definition
Class B Principal Payment Amount means the lesser of (i) the excess, if any, of (a) the Total Principal Payment Amount over (b) the Class A Principal Payment Amount and (ii) the excess, if any, of (a) the Principal Amount of the Class B Notes over (b) the greater of (1) the Class B Target Principal Amount and (2) the Class B Floor, if any; provided, however, that in no event will the Class B Principal Payment Amount exceed the Principal Amount of the Class B Notes.
Class B Principal Payment Amount. With respect to the Class B Certificates and for any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class A-2, Class A-3, Class P, Class A-R, Class M-1, Class M-2A and Class M-2B Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class B Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 92.50% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date.
Class B Principal Payment Amount means, with respect to any Payment 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 Payment Amount on such Payment Date) and (ii) the Outstanding Amount of the Class B Notes immediately prior to such Payment Date minus (b) the lesser of (i) 93.70% of the Pool Balance for such Payment Date and (ii) an amount equal to (A) the Pool Balance for such Payment Date minus (B) the Target Overcollateralization Level for such Payment Date; provided, however, that, on the Class B Final Scheduled Payment Date, the Class B Principal Payment 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 Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class B Notes on that Payment Date.
Examples of Class B Principal Payment Amount in a sentence
Each installment of principal payable on the Class B Notes shall be in an amount equal to the Class B Principal Payment Amount; provided, that the payment of the Class B Principal Payment Amount shall be subordinate to the payments of principal of and interest on the Class A Notes and to certain other payments in accordance with Section 12.02(d) hereof.
During the Amortization Period, the Class A Principal Payment Amount will be paid on each Principal Payment Date, and the Class B Principal Payment Amount will be paid on each Principal Payment Date after the Class A Principal Payment Amount with respect to such Principal Payment Date has been paid in full.
More Definitions of Class B Principal Payment Amount
Class B Principal Payment Amount means, as at each Calculation Date, an amount equal to the lesser of (a) the Principal Amortisation Amount less (x) any Class A Principal Payment Amounts to be paid on the immediately following Payment Date and (y) any amount payable under item (xii) of the Pre-Enforcement Order of Priority and (b) the then Principal Amount Outstanding of the Class B Notes.
Class B Principal Payment Amount means, for any Payment Date, the lesser of (i) the Class B Base Principal Distribution Amount for such Payment Date and (ii) the amount necessary to reduce the Class B Note Principal Balance to zero.
Class B Principal Payment Amount means, with respect to a Distribution Date,
Class B Principal Payment Amount means, with respect to any payment date, an amount equal to (a) the sum of (i) the outstanding principal amount of the Class A notes (after taking into account distribution of the Class A Principal Payment Amount on that payment date) and (ii) the outstanding principal amount of the Class B notes immediately prior to that payment date MINUS (b) the lesser of (i) 92.5% of the aggregate principal balance of the receivables as of the last day of the related collection period and (ii) an amount equal to (A) the aggregate principal balance of the receivables as of the last
Class B Principal Payment Amount means, with respect to any Payment 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 Payment Amount on such Payment Date) and (ii) the Outstanding Amount of the Class B Notes immediately prior to such Payment Date minus (b) the lesser of (i) 92.5% of the Pool Balance as of the last day of the related Collection Period and (ii) an amount equal to (A) the Pool Balance as of the last day of the related Collection Period minus (B) the Target Overcollateralization Level for such Payment Date; provided, however, that, 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 such Payment Date, the Class B Principal Payment Amount will be an amount equal to (x) 100% of the Regular Allocation of Principal for such Payment Date minus (y) the Class A Principal Payment Amount for such Payment Date; provided, further, that on the Final Scheduled Payment Date of any class of Class B Notes, the Class B Principal Payment Amount will not be less than the amount such is necessary to pay such class of Class B Notes in full; and provided, further, that the Class B Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class B Notes on such Payment Date.
Class B Principal Payment Amount. With respect to the Class B Certificates and for any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class A-2, Class P, Class A-R, Class M-1 and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class B Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 92.00% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date.
Class B Principal Payment Amount means, (i) with respect to any Payment Date on which there are no Class B Reserve Account Release Amounts available for payment of principal to the Class B Noteholders, zero, and (ii) with respect to any Payment Date on which there are Class B Reserve Account Release Amounts available for payment of principal to the Class B Noteholders, an amount equal to 100% of such Class B Reserve Account Release Amounts. In addition, on the Class B Final Scheduled Payment Date, the Class B Principal Payment Amount will equal the then outstanding Class B Note Balance.