Discounted Contract Principal Balance definition

Discounted Contract Principal Balance means, with respect to any Contract, on any Determination Date, the sum of the present value of all of the remaining Scheduled Payments becoming due under such Contract after the end of the prior Collection Period, discounted monthly at the Discount Rate in the manner described below; provided, however, that except to the extent expressly provided in the Indenture or the Servicing Agreement, the Discounted Contract Principal Balance of any Defaulted Contract, Early Termination Contract, or Expired Contract or Contract purchased by the Servicer or SierxxXxxxxx.xxx xxxsuant to the Servicing Agreement or by the Trust Certificate Holder pursuant to the Indenture, shall be deemed to be equal to zero as of the last day of the immediately preceding Collection Period. In connection with all calculations required to be made pursuant to the Transaction Documents with respect to the determination of Discounted Contract Principal Balances, for any date of determination the "Discounted Contract Principal Balance" for each Contract shall be calculated assuming: Scheduled Payments are due on the last day of each Collection Period; Scheduled Payments are discounted on a monthly basis using a 30 day month and a 360 day year; and Scheduled Payments are discounted to the last day of the Collection Period prior to the Determination Date.
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Discounted Contract Principal Balance means, with respect to any Contract, on any Determination Date, the sum of the present value of all of the remaining Scheduled Payments becoming due under such Contract after the end of the prior Collection Period, discounted monthly at the Discount Rate in the manner described below; provided, however, that except to the extent expressly provided in the Indenture or the Servicing Agreement, the Discounted Contract Principal Balance of any Defaulted Contract, Early Termination Contract, or Expired Contract or Contract purchased by the Servicer or First Sierra pursuant to the 16 149 Servicing Agreement or by the Trust Certificate Holder pursuant to the Indenture, shall be deemed to be equal to zero as of the last day of the immediately preceding Collection Period.
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Discounted Contract Principal Balance means, with respect to each Assigned Lease as of any date, an amount equal to the present value of the remaining Scheduled Payments due under such Assigned Lease, discounted monthly at the applicable Discount Rate for such Assigned Lease; provided, however, that the Discounted Contract Principal Balance of any Defaulted Assigned Lease, or an Assigned Lease that is required to be repurchased by the Sellers pursuant to Section 13.6 hereof, shall be equal to zero.
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Examples of Discounted 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.

  • In the event of a repurchase of a Lease, First Sierra shall remit to Company (by wire transfer of immediately available funds) the Discounted Contract Principal Balance (as of the date of such repurchase) for each Lease to be repurchased prior to 10:00 a.m. New York City time on the fifth Business Day following First Sierra's discovery of, or receipt of notice of, any such breach.

  • For purposes of determining compliance with clauses (iii) and (iv) 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.

  • In the event of a partial Prepayment, the Servicer shall recalculate the Discounted Contract Principal Balance of such Contract based on the revised schedule of Scheduled Payments and any Final Scheduled Payment after first giving effect to such partial Prepayment.


More Definitions of Discounted Contract Principal Balance

Discounted Contract Principal Balance means, with respect to any Contract, on any Determination Date, the sum of the present value of all of the remaining Scheduled Payments and any Final Scheduled Payment becoming due under such Contract after the end of the prior Collection Period, discounted monthly at the Discount Rate in the manner described below; provided, however, that except to the extent expressly provided in the Indenture or the Servicing Agreement, the Discounted Contract Principal Balance of any Defaulted Contract, Early Termination Contract, or Expired Contract or Contract reacquired by the Originator pursuant to the Servicing Agreement shall be equal to zero.
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Discounted Contract Principal Balance means, with respect to any Lease, at any time of determination, the sum of (a) the present value of all of the remaining Scheduled Payments becoming due under such Lease after such date of determination, discounted monthly at the Discount Rate in the manner described below and (b) the aggregate amount of all Scheduled Payments (due after the applicable Cut-Off Date) then due and payable under such Lease which have not been received by the Servicer (or with respect to the calculation of the Base Principal Amount for which a Servicer Advance has been made in accordance with the provisions of the Pooling and Servicing Agreement); provided, however, that except to the extent expressly provided in the Pooling and Servicing Agreement, the Discounted Contract Principal Balance of any Defaulted Lease, Early Termination Lease, or Expired Lease or Lease purchased by First Sierra pursuant to the Sale Agreement, or the Depositor or the Servicer pursuant to the Pooling and Servicing Agreement shall be equal to zero. In connection with all calculations required to be made pursuant to the Transaction Documents with respect to the determination of Discounted Contract Principal Balances, for any date of determination the "Discounted Contract Principal Balance" for each Lease shall be calculated assuming:
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Discounted Contract Principal Balance means, with respect to each Contract, as of any date, an amount equal to the sum of (a) the present value of the remaining Scheduled Payments becoming due under such Contract after such date of determination, discounted monthly at the applicable Discount Rate for such Contract, plus (b) one hundred percent (100%) of the unpaid balance, as of such date of determination, of Scheduled Payments due with respect to such Contract prior to such date of determination.
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Related to Discounted Contract Principal Balance

  • Pool Scheduled Principal Balance As to any Distribution Date, the aggregate Scheduled Principal Balances of all Mortgage Loans that were Outstanding Mortgage Loans on the Due Date in the month preceding the month of such Distribution Date.

  • Pool Principal Balance As to any Distribution Date, the aggregate of the Scheduled Principal Balances of the Mortgage Loans which were Outstanding Mortgage Loans on the Due Date in the month preceding the month of such Distribution Date.

  • Planned Principal Balance means for any Distribution Date, the balance shown for such Distribution Date on Schedule XVII.

  • Initial Principal Balance means, in respect of a Receivable, the amount advanced under the Receivable toward the purchase price of the Financed Vehicle and related costs, including accessories, service and warranty contracts, insurance premiums, other items customarily financed as part of retail motor vehicle loans and/or retail installment sales contracts and other fees charged by the Transferor or Dealer and included in the amount to be financed, the total of which is shown as the initial principal balance in the note and security agreement or retail installment sale contract evidencing and securing such Receivable.

  • Scheduled Principal Balance With respect to any Mortgage Loan: (a) as of the Cut-off Date, the outstanding principal balance of such Mortgage Loan as of such date, net of the principal portion of all unpaid Monthly Payments, if any, due on or before such date; (b) as of any Due Date subsequent to the Cut-off Date up to and including the Due Date in the calendar month in which a Liquidation Event occurs with respect to such Mortgage Loan, the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, minus the sum of (i) the principal portion of each Monthly Payment due on or before such Due Date but subsequent to the Cut-off Date, whether or not received, (ii) all Principal Prepayments received before such Due Date but after the Cut-off Date, (iii) the principal portion of all Liquidation Proceeds and Insurance Proceeds received before such Due Date but after the Cut-off Date, net of any portion thereof that represents principal due (without regard to any acceleration of payments under the related Mortgage and Mortgage Note) on a Due Date occurring on or before the date on which such proceeds were received and (iv) any Realized Loss incurred with respect thereto as a result of a Deficient Valuation occurring before such Due Date, but only to the extent such Realized Loss represents a reduction in the portion of principal of such Mortgage Loan not yet due (without regard to any acceleration of payments under the related Mortgage and Mortgage Note) as of the date of such Deficient Valuation; and (c) as of any Due Date subsequent to the occurrence of a Liquidation Event with respect to such Mortgage Loan, zero. With respect to any REO Property: (a) as of any Due Date subsequent to the date of its acquisition on behalf of the Trust Fund up to and including the Due Date in the calendar month in which a Liquidation Event occurs with respect to such REO Property, an amount (not less than zero) equal to the Scheduled Principal Balance of the related Mortgage Loan as of the Due Date in the calendar month in which such REO Property was acquired, minus the aggregate amount of REO Principal Amortization, if any, in respect of such REO Property for all previously ended calendar months; and (b) as of any Due Date subsequent to the occurrence of a Liquidation Event with respect to such REO Property, zero.

  • Original Principal Balance Any of the Original Principal Balances of the Classes of Class A Certificates as set forth in Section 11.05; the Original Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original Class B-5 Principal Balance or Original Class B-6 Principal Balance as set forth in Section 11.15.

  • Lower-Tier Principal Balance The principal amount of any Lower-Tier Regular Interest outstanding as of any date of determination. As of the Closing Date, the Lower-Tier Principal Balance of each Lower-Tier Regular Interest shall equal the original Lower-Tier Principal Balance as set forth in the Preliminary Statement hereto. On each Distribution Date, the Lower-Tier Principal Balance of each Lower-Tier Regular Interest shall be permanently reduced by all distributions of principal deemed to have been made in respect of such Lower-Tier Regular Interest on such Distribution Date pursuant to Section 4.01(a)(ii) of this Agreement, and shall be further permanently reduced on such Distribution Date by all applicable Realized Losses deemed to have been allocated thereto on such Distribution Date pursuant to Section 4.01(f) of this Agreement, such that at all times the Lower-Tier Principal Balance of a Lower-Tier Regular Interest shall equal the Certificate Balance of the Corresponding Certificates. The Lower-Tier Principal Balance of any Lower-Tier Regular Interest may be increased on a particular Distribution Date as and to the extent contemplated by Section 4.01(g) of this Agreement.

  • Mortgage Loan Principal Balance means, at any date of determination, the aggregate principal balance of the Notes evidencing the Mortgage Loan.

  • Class Principal Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Class A Non-PO Principal Balance As of any date, an amount equal to the Class A Principal Balance less the Principal Balance of the Class A-PO Certificates.

  • Cut-off Date Pool Principal Balance The aggregate Stated Principal Balances of all Mortgage Loans as of the Cut-off Date.

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Note A-6 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-6 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A Principal Balance means, as of any date of determination, the aggregate Note Principal Balance of the A Notes.

  • Original Class A Non-PO Principal Balance The sum of the Original Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-R Certificates, as set forth in Section 11.06.

  • Original Class Principal Balance means, with respect to any Class of Principal Balance Certificates, the initial Class Principal Balance thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

  • Unpaid Principal Balance With respect to any Mortgage Loan, the outstanding principal balance payable by the Borrower under the terms of the Mortgage Note.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • Note A-8 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-8 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-8 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Assumed Principal Balance As to each Mortgage Loan as of any date of determination, (i) the principal balance of the Mortgage Loan outstanding as of the Cut-off Date after application of payments due on or before the Cut-off Date, whether or not received, minus (ii) all amounts previously distributed to the Purchaser with respect to the Mortgage Loan pursuant to Subsection 11.15 and representing payments or other recoveries of principal.

  • Note A-4 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-4 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-4 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-7 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note B Principal Balance means, at any time of determination, the Initial Note B Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class B-6 Principal Balance As to the first Determination Date, the Original Class B-6 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-6 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-second of Section 4.01(a) and (b) the Realized Losses allocated through such Determination Date to the Class B-6 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal Balance as of such Determination Date.

  • Class A Note Initial Principal Balance means $750,000,000.