Class C Certificate Balance definition

Class C Certificate Balance means, as of any Payment Date, the Supplemental Enhancement Account Balance.

Class C Certificate Balance equals the Initial Class [C] Certificate Balance reduced by all amounts allocable to principal previously distributed to Class [C] Certificateholders.

Class C Certificate Balance shall equal, initially, the Original Class C Certificate Balance and, thereafter, shall equal the amount by which the Pool Balance as of the last day of the related Collection Period exceeds the sum of the Class A Certificate Balance and the Class B Certificate Balance as of such Distribution Date after all required distributions, deposits and withdrawals have been made.

Examples of Class C Certificate Balance in a sentence

• On the Closing Date, the Owner Trustee shall cause the Trust Certificates in an aggregate principal amount equal to the Initial Class [C] Certificate Balance to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by the Owner Trustee on behalf of the Trust, without further action by the Depositor, in authorized denominations.

• On the Closing Date, the Owner Trustee shall cause the Trust Certificates in an aggregate principal amount equal to the Initial Class C Certificate Balance to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by the Owner Trustee on behalf of the Trust, without further action by the Depositor, in authorized denominations.

• AEGIS AUTO RECEIVABLES TRUST 1996-3 AUTOMOBILE RECEIVABLE PASS-THROUGH CERTIFICATES CLASS C CERTIFICATE PPN: CUSIP: NUMBER R-1 Original Certificate Balance: Class C Rate $_______________________ Final Scheduled Distribution Date: March 20, 2002 Initial Class C Certificate Balance of all Class C Certificates: $ THIS CERTIFIES THAT ___________________ is the registered owner of this _________ DOLLARS Class C Certificate.

• The Class A Certificates, Class B Certificates and Class C Certificates shall be issuable in minimum denominations of $1,000 and integral multiples in excess thereof, provided that one Class C Certificate, may be issued in a denomination that includes any remaining portion of the Original Class C Certificate Balance, respectively (each, a "Residual Certificate").

More Definitions of Class C Certificate Balance

Class C Certificate Balance means, initially, the Class C Percentage of the Cutoff Date Pool Balance, and thereafter shall equal the initial Class C Certificate Balance reduced by all amounts previously distributed to the Class C Certificateholder and allocable to principal. If the date of determination is a Distribution Date, then such Class C Certificate Balance shall be reduced by all such amounts distributed on such date.

Class C Certificate Balance shall equal, initially, the Class C Percentage of the aggregate Principal Balance of the Initial Receivables as of the initial Cutoff Date plus the Class C Percentage of the Original Pre-Funded Amount and, thereafter, shall equal the initial Class C Certificate Balance, reduced by all amounts previously distributed to Class C Certificateholders as principal.

Class C Certificate Balance. Initially, as of the Closing Date, $14,579,362.75 (approximately 3.0% of the Initial Aggregate Receivables Balance) and, on any Distribution Date thereafter, the initial Class C Certificate Balance, reduced by the sum of (i) all Distributions in respect of the Class C Certificate Balance actually made on or prior to such date to Class C Certificateholders and (ii) the Class C Certificate Reduction Amount as of the preceding Distribution Date.