Class D Principal definition

Class D Principal means the principal distributable in respect of the Class D Certificates as calculated in accordance with subsection 4.7(d).

Class D Principal means the principal distributable in respect of the Class D Security as specified in subsection 4.7(d) of the Agreement.

Class D Principal s Licence” means a licence issued under section 4;

Examples of Class D Principal in a sentence

• If, on any Notes Calculation Date, there is a balance on the Class D Principal Deficiency Ledger, then notwithstanding any other provisions of these Conditions, the principal amount payable on redemption of each Class D Note on the immediately succeeding Notes Payment Date shall not exceed its Principal Amount Outstanding less the Class D Principal Shortfall on such Notes Payment Date.

• If, on any Notes Payment Date, there is a balance on the Class D Principal Deficiency Ledger, then notwithstanding any other provisions of these Conditions, the principal amount payable on redemption of each Class D Note on such Notes Payment Date shall not exceed its Principal Amount Outstanding less the Class D Principal Shortfall on such Notes Payment Date.

• Each of the Class A Principal Amount, the Class B Principal Amount, the Class C Principal Amount, the Class D Principal Amount, the Class E Principal Amount and the Class F Principal Amount is referred to herein as a "ClassPrincipal Amount".

• The Class A Interest Allocation Shortfall, the Class D Principal Allocation and the Series Principal Amounts shall be reduced by the aggregate amount of such deposits for all Tranches of Class A Notes.

• Available Revenue Receipts will be applied, after meeting prior ranking obligations as set out under the Pre-Enforcement Revenue Priority of Payments, to credit first the Class A Principal Deficiency Sub-Ledger, second the Class B Principal Deficiency Sub-Ledger, third the Class C Principal Deficiency Sub-Ledger, fourth the Class D Principal Deficiency Sub-Ledger and fifth the Class E Principal Deficiency Sub-Ledger.

• Principal Deficiency LedgerA Principal Deficiency Ledger comprising four sub-ledgers (the Class A Principal Deficiency Ledger, the Class B Principal Deficiency Ledger, the Class C Principal Deficiency Ledger and the Class D Principal Deficiency Ledger) will be established by or on behalf of the Issuer in order to record any Principal Deficiency.

• This phase is mostly characterized by the breakup of the primary/secondary structure of the satellite.

• Any Principal Deficiency will first be debited to the Class D Principal Deficiency Ledger so long as the debit balance on the Class D Principal Deficiency Ledger is not greater than the Principal Amount Outstanding of the Class D Notes.

• The Class D Principal Shortfall means an amount equal to the quotient of the balance on the Class D Principal Deficiency Ledger, divided by the Principal Amount Outstanding of Class D Notes outstanding on such Note Payment Date multiplied by the Principal Amount Outstanding of such Class D Note.

• The following principal deficiency sub-ledgers may apply, to the extent that the Notes of the relevant Class of Notes are in issue - the Class A Principal Deficiency Sub-Ledger; the Class B Principal Deficiency Sub-Ledger; the Class C Principal Deficiency Sub-Ledger; the Class D Principal Deficiency Sub-Ledger; the Class E Principal Deficiency Sub-Ledger; and the Subordinated Loan Principal Deficiency Sub-Ledger.

More Definitions of Class D Principal

Class D Principal. On the Transfer Date preceding the Class D Principal Payment Commencement Date and each Transfer Date thereafter, or, in the case of distributions of Class D Excess Amounts, on each Transfer Date during the Controlled Amortization Period preceding a Distribution Date on which a distribution shall be made of Class D Excess Amounts, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account and deposit in the Distribution Account, to the extent of funds available after giving effect to withdrawals pursuant to subsections 4.12(a), (b) or (c) of the Agreement, an amount equal to the Class D Principal for the related Distribution Date. On the Class D Principal Payment Commencement Date after the payment of any principal amounts to the Class A Securities, the Class B Securities and the Collateralized Trust Obligations on such day, and on each Distribution Date thereafter until the Class D Invested Amount is paid in full and on each Distribution Date during the Controlled Amortization Period on which amounts are to be distributed with respect to Class D Excess Amounts, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class D Securityholder from the Distribution Account such amounts deposited with respect to Class D Principal into the Distribution Account on the related Transfer Date. Notwithstanding the foregoing, if so designated in writing by the Transferor with respect to any such Transfer Date, any such payment of Class D Principal shall not be made to the Class D Securityholder but such amount shall nonetheless be subtracted from the Class D Invested Amount and added to the Transferor Interest and Class D Excess Amounts may be subtracted from the Class D Invested Amount and added to the Transferor Interest whether or not such amount has been deposited into the Distribution Account.