Class C Principal Payment Amount means (i) zero with respect to any Payment Date prior to the Payment Date on which the Class A-1 Principal Balance is reduced to zero, and (ii) with respect to any Payment Date thereafter, the excess, if any, of (a) the Class C Principal Balance 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 Class C Principal Balance.
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 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.
Examples of Class C Principal Payment Amount in a sentence
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More Definitions of Class C Principal Payment Amount
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.
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 that Payment Date), (ii) the Outstanding Amount of the Class B Notes (after taking into account distribution of the Class B Principal Payment Amount on that Payment Date) and (iii) the Outstanding Amount of the Class C Notes immediately prior to that Payment Date MINUS (b) the lesser of (i) the Class C Target Advance Rate Percentage 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 that 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 that Payment Date, the Class C Principal Payment Amount will be an amount equal to (x) 100% of the funds available in the Principal Distribution Account for that Payment Date MINUS (y) an amount equal to the sum of (1) the Class A Principal Payment Amount for that Payment Date PLUS (2) the Class B Principal Payment Amount for that Payment Date; PROVIDED, FURTHER, that on the Final Scheduled Payment Date of Class C Notes, the Class C Principal Payment Amount will not be less than the amount that is necessary to pay 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 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.
Class C Principal Payment Amount for a Series of Class C Notes means, for any Distribution Date, the sum of (i) the product of (A) the Applicable Class Percentage for such Notes and (B) the excess of (1) the Series ADCB as of the last day of the second Collection Period preceding such Distribution Date (or, in the case of Contracts that were first added to the Contract Pool during the Collection Period immediately preceding such Distribution Date, as of the Cut Off Date for such Contracts) over (2) the Series ADCB as of the last day of the Collection Period immediately preceding such Distribution Date (without giving effect, in the case of clauses (1) and (2), to Scheduled Payments expected to have been received on or after the last day of the applicable Collection Period referred to in such clause under each Contract in the Contract Pool which became a Defaulted Contract or a Prepaid Contract during such Collection Period) and (ii), from and after the date the Class A Notes and Class B Notes of each Series have been paid in full, the sum of the following amounts: the present value (discounted monthly at the applicable Series Discount Rate) of the product of (x) each Scheduled Payment expected to have been received on or after the last day of the Collection Period immediately preceding such Distribution Date under each Contract in the Contract Pool which became a Defaulted Contract or a Prepaid Contract during such Collection Period and (y) the Series Allocation Percentage as of the last day of the Collection Period immediately preceding such Distribution Date (the sum of (i) and (ii), the "Expected Class C Payment") and (iii) the aggregate amount of Expected Class C Payments which were not paid on each preceding Distribution Date.
Class C Principal Payment Amount means (i) zero with respect to any Payment Date prior to the later of (a) the Payment Date in June 1999 or (b) the Payment Date on which the Class A-1 Principal Balance is reduced to zero, and (ii) with respect to any Payment Date thereafter, the excess, if any, of (a) the Class C Principal Balance 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 Class C Principal Balance.
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.