Class C Principal Payment Amount means the lesser of (i) the excess, if any, of (a) the Total Principal Payment Amount over (b) the sum of the Class A Principal Payment Amount and the Class B Principal Payment Amount and (ii) the excess, if any, of (a) the Principal Amount of the Class C Notes over (b) the greater of (1) the Class C Target Principal Amount and (2) the Class C Floor, if any; provided, however, that in no event will the Class C Principal Payment Amount exceed the Principal Amount of the Class C Notes.
Class C 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), (ii) the Outstanding Amount of the Class B Notes (after taking into account distribution of the Class B Principal Payment Amount on such Payment Date) and (iii) the Outstanding Amount of the Class C Notes immediately prior to such Payment Date minus (b) the lesser of (i) 95.10% 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 C Final Scheduled Payment Date, the Class C Principal Payment Amount shall not be less than the amount that is necessary to pay the Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class C Notes on that Payment Date.
Class C Principal Payment Amount means, as at each Calculation Date, an amount equal to the lesser of (a) the Principal Amortisation Amount less any Class A Principal Payment Amounts and Class B Principal Payment Amounts to be paid on the immediately following Payment Date and (b) the then Principal Amount Outstanding of the Class C Notes.
Examples of Class C Principal Payment Amount in a sentence
Principal payments from amounts on deposit in the Principal Distribution Account on each Payment Date will be allocated among the various classes of Notes in the following order of priority: (1) to the Class A Notes, the Class A Principal Payment Amount; (2) to the Class B Notes, the Class B Principal Payment Amount; (3) to the Class C Notes, the Class C Principal Payment Amount; and (4) to the Class D Notes, the Class D Principal Payment Amount.
More Definitions of Class C Principal Payment Amount
Class C Principal Payment Amount means, with respect to a Distribution Date,
Class C 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), (ii) the Outstanding Amount of the Class B Notes (after taking into account distribution of the Class B Principal Payment Amount on such Payment Date) and (iii) the Outstanding Amount of the Class C Notes immediately prior to such Payment Date minus (b) the lesser of (i) 94.5% of 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 C Principal Payment Amount will be an amount equal to (x) 100% of the Regular Allocation of Principal for such Payment Date minus (y) an amount equal to the sum of (1) the Class A Principal Payment Amount for such Payment Date plus (2) the Class B Principal Payment Amount for such Payment Date; provided, further, that on the Final Scheduled Payment Date of any class of Class C Notes, the Class C Principal Payment Amount will not be less than the amount such is necessary to pay such class of Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class C Notes on such Payment Date.
Class C Principal Payment Amount means (a) while the Class A-1 Notes are outstanding, zero and (b) after the outstanding Principal Amount on the Class A-1 Notes has been reduced to zero, the amount necessary to reduce the outstanding Principal Amount of the Class C Notes to the greater of the Class C Target Investor Principal Amount and the Class C Floor.
Class C Principal Payment Amount means, with respect to any Distribution Date and the Class C Notes, (a) $0 until the Principal Amount of the Class A-1 Notes has been paid in full, and (b) thereafter, the lesser of (i) the Principal Amount of the Class C Notes and (ii)(A) prior to the occurrence of any Event of Default, the difference between (1) the Principal Amount of the Class C Notes immediately prior to such Distribution Date, and (2) the greater of (x) the Class C Target Principal Amount and (y) the Class C Floor and (B) following the occurrence of an Event of Default, all remaining Available Amounts after payment has been made in accordance with Section 7.05(b)(i)-(xiii).
Class C Principal Payment Amount means, with respect to a Distribution Date, the amount necessary to reduce the Principal Amount of the Class C Notes to the greater of (a) the Class C Target Investor Principal Amount or (b) the Class C Floor.
Class C Principal Payment Amount means, with respect to any Payment Date, an amount greater than or equal to zero and equal to (a) 100% of the Regular Principal Allocation for such Payment Date minus (b) an amount equal to the sum of (i) the Class A Principal Payment Amount for such Payment Date, and (ii) the Class B Principal Payment Amount for such Payment Date; provided, however, that, on the Class C Final Scheduled Payment Date, the Class C Principal Payment Amount shall not be less than the amount that is necessary to pay the Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any AA-11 Payment Date shall not exceed the Outstanding Amount of the Class C Notes on that Payment Date.
Class C Principal Payment Amount. With respect to any Payment Date that occurs before the date on which the Class A Notes and the Class B Notes have been paid in full, an amount equal to zero, and with respect to any other Payment Date (other than the Final Scheduled Payment Date or any Payment Date following the occurrence and continuance of a Payout Trigger) that occurs on or after the date on which the Class A Notes and the Class B Notes have been paid in full, the Quarterly Principal Payment Amount for such Payment Date; provided, however, the Class C Principal Payment Amount shall not exceed the Class C Note Balance prior to the distribution on such Payment Date. The "Class C Principal Payment Amount" on the Final Scheduled Payment Date and following the occurrence and continuance of a Payout Trigger will equal the Class C Note Balance prior to the distribution on such Payment Date.