Class C Floating Allocation Percentage definition

Class C Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class C Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a) the sum of the Pool Balance and the amount on deposit in the Excess Funding Account as of the end of the preceding Business Day and (b) the sum of the numerators used to calculate the allocation percentages with respect to Principal Collections for all Series.

Class C Floating Allocation Percentage means, for any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction:

Class C Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class C Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a)the sum of the Pool Balance and the amount on deposit in the Excess Funding Account as of the end of the preceding Business Day and

Examples of Class C Floating Allocation Percentage in a sentence

• The share of the Monthly Servicing Fee allocable to the Class C Interest Holders with respect to any Distribution Date (the "Class C Servicing Fee") shall be equal to one-twelfth of the product of --------------------- (a) the Class C Floating Allocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class C Servicing Fee shall be $140,000.

• The share of the Servicing Fee allocable to the Class A Invested Amount (the "Class A Servicing Fee"), the Class B Invested Amount (the "Class B Servicing Fee") and the Class C Invested Amount (the "Class C Servicing Fee") with respect to any Transfer Date shall equal the Class A Floating Allocation Percentage, Class B Floating Allocation Percentage and Class C Floating Allocation Percentage, respectively, of such Servicing Fee.

• The share of the Monthly Servicing Fee allocable to the Class C Interest Holders with respect to any Distribution Date (the "CLASS C SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class C Floating Allocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class C Servicing Fee shall be $58,188.

• The share of the Monthly Servicing Fee allocable to the Class C Interest Holders with respect to any Distribution Date (the "CLASS C SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class C Floating Allocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class C Servicing Fee shall be $80,750.

• Total Receivables in Trust Aggregate amount of Principal Receivables Invested Amount Class A Invested Amount Class B Invested Amount Class C Invested Amount Class D Invested Amount Floating Allocation Percentage Class A Floating Allocation Percentage Class B Floating Allocation Percentage Class C Floating Allocation Percentage Class D Floating Allocation Percentage each as of the end of the day on February 1, 2003.

More Definitions of Class C Floating Allocation Percentage

Class C Floating Allocation Percentage means, with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class C Adjusted Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a) the total amount of Principal Receivables in the Trust and the amount on deposit in the Excess Funding Account as of the end of the preceding Business Day and (b) the sum of the numerators with respect to all Classes of all Series then outstanding used to calculate the applicable allocation percentage; provided, however, that with respect to the allocation of Principal Collections on and prior to the Series 1994-1 Funding Date, the numerator specified above shall be zero.

Class C Floating Allocation Percentage means with respect to any Business Day, the percentage equivalent of a fraction, the numerator of which is the Class C Adjusted Invested Amount as of the end of the preceding Business Day and the denominator of which is the greater of (a) the sum of the amount of Principal Receivables in the Trust and the amount on deposit in the Equalization Account at the end of the preceding Business Day and (b) the sum of the numerators with respect to all Classes of all Series then outstanding on such Business Day used with respect to Principal Collections to calculate the applicable allocation percentage.

Class C Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class C Adjusted Invested Amount as of the close of business on the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the Class C Initial Invested Amount) and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on the last day of such preceding Monthly Period (or with respect to the First Monthly Period, the Initial Invested Amount).

Class C Floating Allocation Percentage means with respect to any Monthly Period the percentage equivalent of a fraction, the numerator of which is the Class C Invested Amount as of the close of business on the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Closing Date) and the denominator of which is the greater of (a) the total amount of Principal Receivables in the Trust and the amount on deposit in the Excess Funding Account as of the close of business on such date and (b) the sum of the numerators with respect to all Classes of all Series then outstanding used to calculate the applicable allocation percentage for the type of Collections (or the Defaulted Amount) to which the Class C Floating Allocation Percentage is to be applied; provided, that if one or more Reset Dates occur in a Monthly Period, the Class C Floating Allocation Percentage for the portion of the Monthly Period falling after each such Reset Date (the "subject Reset Date") and prior to or on any subsequent Reset Date will be reset using a denominator equal to the greater of the amounts specified in clauses (i) and (ii) above determined as of the close of business on the subject Reset Date.

Class C Floating Allocation Percentage means, with respect to -------------------------------------- any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class C Adjusted Invested Amount as of the close of business on the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the Class C Initial Invested Amount) and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on the last day of such preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount).

Class C Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class C Adjusted Invested Amount as of the close of business on the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the Class C Initial Invested Amount) and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on the last day of such preceding Monthly Period (or with respect to the First Monthly Period, the Initial Invested Amount). "CLASS C INITIAL INVESTED AMOUNT" shall mean $21,375,000. "CLASS C INTERESTS" shall mean a fractional undivided interest in the Trust which shall consist of the right to receive, to the extent necessary to make the required payments to the Class C Interest Holders hereunder and under the Class C Supplemental Agreement, the portion of Collections allocable thereto under the Agreement and this Supplement, funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement, funds on deposit in the Cash Collateral Account, the Reserve Account, the Pre-Funding Account, the Principal Funding Account or any other Series Account (and any investment earnings thereon, net of investment expenses and losses, if and to the extent specifically provided herein) allocable thereto pursuant to the Agreement and this Supplement and funds on deposit in the Spread Account available pursuant to the Class C Supplemental Agreement.

Class C Floating Allocation Percentage means, for any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class C Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on such last day; provided that, with respect to the first Monthly Period, the Class C Floating Allocation Percentage means the percentage equivalent of a fraction, the numerator of which is the Class C Initial Invested Amount and the denominator of which is the Initial Invested Amount.