Contract Principal Balance means as of any Accounting Date, with respect to any Contract, the present value of the unpaid Scheduled Payments due on such Contract after such Accounting Date (excluding all Scheduled Payments due on or prior to, but not received as of, such Accounting Date, as well as any Scheduled Payments due after, but received as of, such Accounting Date), after giving effect to any Prepayments received on or prior to such Accounting Date, discounted monthly at the Discount Rate (assuming, for purposes of such calculation, that each Scheduled Payment is due on the last day of the applicable Collection Period); provided that, for purposes of computing the Total Principal Payment Amount or the Required Cash Collateral Amount for a given Payment Date (as well as all Payment Dates thereafter), the Contract Principal Balance of any Contract which became a Defaulted Contract during the related Collection Period or was required to be purchased by CFUSA as of the last day of the related Collection Period in accordance with Section 5.01 of the Purchase and Sale Agreement, will be deemed to be zero on and after the last day of such Collection Period.
Contract Principal Balance means as of any Accounting Date, with respect to any Contract, the present value of the unpaid Scheduled Payments due on such Contract after such Accounting Date (excluding all Scheduled Payments due on or prior to, but not received as of, such Accounting Date, as well as any Scheduled Payments due after, but received as of, such Accounting Date), after giving effect to any Prepayments received on or prior to such Accounting Date, discounted monthly at the Discount Rate (assuming, for purposes of such calculation, that each Scheduled Payment is due on the last day of the applicable Collection Period); provided that, for purposes of computing the Contract Pool Principal Balance or, except where stated otherwise, for any other purpose described herein (a) the Contract Principal Balance of any Defaulted Contract as of the end of a given Collection Period will be deemed to be its Contract Principal Balance plus Scheduled Payments due but not yet paid on such Contract as of the first day of the Collection Period during which it became a Defaulted Contract, less the Defaulted Contract Valuation Amount for such Defaulted Contract, and (b) the Contract Principal Balance of any Contract which became a Liquidated Contract during a given Collection Period or which was a Contract which CFUSA was obligated to purchase from the Trust pursuant to Section 7.06 of this Agreement as of the end of a given Collection Period will be deemed to be zero on and after the last day of the Collection Period.
Contract Principal Balance means as of any Accounting Date, with respect to any Contract, the present value of the unpaid Scheduled Payments due on such Contract after such Accounting Date (excluding all Scheduled Payments due on or prior to, but not received as of, such Accounting Date, as well as any Scheduled Payments due after, but received as of, such Accounting Date), after giving effect to any Prepayments received on or prior to such Accounting Date, discounted monthly at the Discount Rate (assuming, for purposes of such calculation, that each Scheduled Payment is due on the last day of the applicable Collection Period); provided that, for purposes of computing the Total Principal Payment Amount, the Unfunded Loss Amount, or the Specified Reserve Account Balance for a given Payment Date (as well as all Payment Dates thereafter), the Contract Principal Balance of any Contract, which became a Defaulted Contract or a Liquidated Contract during the related Collection Period or was required to be purchased by CFUSA as of the last day of the related Collection Period in accordance with Section 5.01 of the Purchase and Sale Agreement, will be deemed to be zero on and after the last day of such Collection Period.
Examples of Contract Principal Balance in a sentence
For purposes of determining compliance with clause (iii) of the preceding sentence, if more than one Substitute Contract is being provided on any date, the Discounted Contract Principal Balance of the Substitute Contracts and the Contracts being replaced shall be determined on an aggregate basis.
The Servicer may, but shall have no obligation to, repurchase a Defaulted Contract, which was originated by DFS, at any time, at a price equal to the Contract Principal Balance for such Defaulted Contract; provided that the aggregate amount of repurchases made under this section shall not exceed an amount equal to 15% of the aggregate Contract Principal Balance of the Contracts originated by DFS as of the Cut-off Date.
All references to the Contract Principal Balance of a Contract as of any date shall refer to the close of business on such date.
All references to the Contract Principal Balance of a Contract as of an Accounting Date shall refer to the close of business on such day, or as of the first day of a Monthly Period shall refer to the opening of business on such day.
The method of allocating a Scheduled Payment with respect to any Contract between principal and interest, pursuant to which the portion of such payment that is allocated to interest is the product of (a) the Payment Interval Adjusted Applicable Discount Rate with respect to such Contract multiplied by (b) the applicable Contract Principal Balance (before giving effect to such principal payment).
More Definitions of Contract Principal Balance
Contract Principal Balance means, as of any Accounting Date:
Contract Principal Balance. As of any Accounting Date, with respect to any Contract:
Contract Principal Balance. As of any date of calculation with respect to a Series 1998-1 Contract, the present value of the Scheduled Payments to become due with respect to such Series 1998-1 Contract on and after such date of calculation (but in any event prior to December 2006), together with all Scheduled Payments previously due and unpaid which were not the subject of a Servicer Advance on or prior to such date, discounted monthly to the Calculation Date immediately prior to such date of calculation (or to such date of calculation if such date of calculation is a Calculation Date) at one-
Contract Principal Balance means as of any date of calculation with respect to a Contract, the present value of the Scheduled Payments to become due with respect to such Contract on or after the date of calculation (but in any event on or prior to _______, 200_) (excluding Scheduled Payments previously due and unpaid), discounted monthly at one-twelfth of the Applicable Discount Rate, except that a Defaulted Contract has a Contract Principal Balance of $0. Contracts which have been prepaid or otherwise terminated or released from the Trust Estate shall also have a Contract Principal Balance of $0.
Contract Principal Balance means, with respect to any Contract and any date of determination, the [scheduled] [actual] principal balance of such Contract as of such date of determination [without giving effect to any adjustments by reason of bankruptcy or similar proceedings or any waiver, extension or grace period].
Contract Principal Balance means as of any Accounting Date, with respect to any Contract, the present value of the unpaid Scheduled Payments due on such Contract after such Accounting Date (excluding all Scheduled Payments due on or prior to, but not received as
Contract Principal Balance. As of any Accounting Date: