Class B Principal Payment Commencement Date definition

Class B Principal Payment Commencement Date means the earlier of (a) (i) with respect to the Accumulation Period, the Expected Final Payment Date or (ii) during the Early Amortization Period, the first Distribution Date on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1998-2 Securities remaining after payments have been made to the Class A Securities on such Distribution Date, the Distribution Date following the first Distribution Date on which the Class A Invested Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 9.2, 10.2(a), 12.1 or 12.2 of the Agreement or Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date means the earlier of (a) the Distribution Date in an Amortization Period on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1997-1 Variable Funding Certificates remaining after payments have been made to the Class A VFCs on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.4(e), 9.2, 10.2(a), 12.1 or 12.2 of the Agreement and Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date means the earlier of (a) the Distribution Date on which the Class A Invested Amount is paid in full or, if the Class A Invested Amount is paid in full on the Class A Expected Final Payment Date, and the Early Amortization Period has not commenced, the Distribution Date following the Class A Expected Final Payment Date and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 10.2(a), 12.1 or 12.2 of the Agreement or Section 3 of this Series Supplement.

Examples of Class B Principal Payment Commencement Date in a sentence

• On the Class B Principal Payment Commencement Date, after the payment of any principal amounts to the Class A Certificates on such day, and on each Distribution Date thereafter until the Class B Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 to the Class B Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date.

• On the Class B Principal Payment Commencement Date, after the payment of any principal amounts with respect to the Class A Certificates on such day, and on each Distribution Date thereafter until the Class B Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 to the Class B Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer 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 Administrative Agent from the Distribution Account such amounts deposited with respect to Class B Principal into the Distribution Account on the related Transfer Date.

• This incidence declined with increasing age: 18% of 25 to 39 year olds, 13% of 40 to 59 year olds, and 3% of drivers over 60 years said they commonly exceed the limit by 5 km/h or more.

• In doing so, programs are designed that are sensitive to the schedules and requirements of working parents/guardians.

More Definitions of Class B Principal Payment Commencement Date

Class B Principal Payment Commencement Date means the earlier of (a) the first Business Day in the Amortization Period on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1998-3 Securities remaining after payments have been made to the Class A Securities on such Business Day, the Business Day following the Business Day on which the Class A Invested Amount is paid in full, and (b) the Business Day following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 9.2, 10.2, 12.1 or 12.2 of the Agreement or Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date means the earlier of (a) the first Distribution Date in an Amortization Period on which the Class A Investor Amount equals or is reduced to zero or, if there are no Collections in respect of Principal Receivables allocable to the Series 1995-A Certificates remaining after payments have been made to the Class A Certificateholders on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Investor Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 9.2, 10.2, 12.1 or 12.2 of the Agreement or Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date means the earliest of (a) the Distribution Date in the Controlled Amortization Period after the one on which the Class A Invested Amount is paid in full, (b) the Distribution Date falling in the Rapid Amortization Period on which the Class A Invested Amount is paid in full and (c) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.06, 10.02, 12.01 or 12.02 of the Agreement and Section 7.1 of this Supplement.

Class B Principal Payment Commencement Date means the earlier of (a) the first Distribution Date on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1998-A Securities remaining after payments have been made to the Class A Securities on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.4(e), 9.2, 10.2, 12.1 and 12.2 of the Agreement and Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date shall have the meaning assigned thereto in Exhibit A hereto.

Class B Principal Payment Commencement Date means, for all or any portion of the Class B Certificates, the earlier of (a) the date specified in the applicable Issuance Supplement and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 9.2, 10.2(a), 12.1 or 12.2 of the Agreement and Section 3 of this Series Supplement.

Class B Principal Payment Commencement Date means the Distribution Date on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 2001-1 Investor Certificates remaining after payments have been made to the Class A Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full.