Class C Target Principal Amount definition
Class C Target Principal Amount means, with respect to any Payment Date, the product of (i) the Class C Percentage and (ii) the Contract Pool Principal Balance as of the related Accounting Date.
Class C Target Principal Amount means, with respect to any Payment Date or the immediately preceding Cut- Off Date, (a) so long as the Class B Principal Amount on such Cut-Off Date is greater than zero and, on such Payment Date after giving effect to the distributions to be made pursuant to item (j) of the Pre-Enforcement Priority of Payments, would remain greater than zero, the Class C Principal Amount, or (b) if on such Cut-Off Date the Class B Principal Amount is zero or if on such Payment Date after giving effect to distributions pursuant to item (j) of the Pre-Enforcement Priority of Payments, it will have been reduced to zero, an amount equal to the least of (i) the Class C Principal Amount as of that Cut-Off Date, (ii) the Aggregate Outstanding Loan Principal Amount as of that Cut-Off Date, and (iii) following the first Payment Date, the Class C Target Principal Amount with respect to the immediately preceding Payment Date;
Class C Target Principal Amount means, in respect of each Payment Date an amount calculated on the immediately preceding Calculation Date as follows: (a) so long as the Principal Amount Outstanding of the Class A Notes or the Principal Amount Outstanding of the Class B Notes on the immediately preceding Calculation Date is greater than zero and, on such Payment Date after giving effect to the distributions to be made pursuant to paragraphs ninth and eleventh of the Pre-Enforcement Priority of Payments, would remain greater than zero, the Principal Amount Outstanding of the Class C Notes, or (b) if on such Calculation Date the Principal Amount Outstanding of the Class A Notes or the Principal Amount Outstanding of the Class B Notes is zero or if on such Payment Date after giving effect to distributions pursuant to paragraphs ninth and eleventh of the Pre-Enforcement Priority of Payments, it will have been reduced to zero, zero;
More Definitions of Class C Target Principal Amount
Class C Target Principal Amount means, with respect to any Distribution Date, the product (a) the Class C Percentage and (b) the ADCB for all Contracts held by the Trust as of the last day of the Collection Period immediately preceding such Distribution Date. "CLASS D FLOOR" means, with respect to each Distribution Date, (a) 0.85% of the ADCB of the Contracts Pool as of the Closing Date, plus (b) the Principal Differential with respect to such Distribution Date, minus (c) the sum, immediately prior to such Distribution Date, of the Principal Amount of the Class E Notes and the amount on deposit in the Reserve Fund (after giving effect to amounts to be withdrawn on such Distribution Date), PROVIDED, HOWEVER, that if the Principal Amount of the Class C Notes is less than or equal to the Class C Floor, on such Distribution Date, the Class D Floor will equal the Principal Amount of the Class D Notes utilized in the calculation of the Class C Floor for such Distribution Date. "CLASS D INTEREST RATE" means [ ]% per annum (calculated on the basis of a year of 360 days and twelve 30-day months).