Discounted Principal Balance definition

Discounted Principal Balance means in respect of an Auto Loan Receivable, its scheduled cash flow of principal and interest (including amounts of principal and interest that are overdue) discounted as of the relevant date at the Discount Rate on the basis of a year of three hundred and sixty (360) days consisting of twelve (12) thirty-day (30-day) months.

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Discounted Principal Balance means (i) with respect to any Discounted Contract, an amount equal to the present value of the sum of all remaining Monthly Payments on such 1997-A Contract paid on a timely basis, plus the Booked Residual Value of the related Leased Vehicle, calculated by discounting such Monthly Payments by the Discount Rate, and (ii) with respect to any other Contract, its Outstanding Principal Balance at such time.

Discounted Principal Balance means (i) with respect to any 1996-B Lease that is a Discounted Lease, an amount equal to the present value of the sum of all remaining Monthly Lease Payments on such Lease paid on a timely basis, plus the Booked Residual Value of the related 1996-B Leased Vehicle, calculated by discounting such Monthly Lease Payments and Booked Residual Value by the Discount Rate, and (ii) with respect to any other 1996-B Lease, its Outstanding Principal Balance at such time.

Examples of Discounted Principal Balance in a sentence

In consideration for the Purchased Property, ▇▇▇▇ shall, on the Closing Date, pay to GMAC an amount equal to the Initial Aggregate Discounted Principal Balance in respect of the Receivables and GMAC shall execute and deliver to ▇▇▇▇ an assignment in the form attached hereto as Exhibit A (the "First Step Receivables Assignment").
On the Closing Date, ▇▇▇▇ shall pay to GMAC the Initial Aggregate Discounted Principal Balance as provided in Section 2.02.
In consideration for the Purchased Property, CARI shall, at the closing hereunder, pay to GMAC an amount equal t▇ ▇▇e Initial Aggregate Discounted Principal Balance in respect of the Receivables (the "Receivables Purchase Price") and GMAC shall execute and deliver to CARI an assignment in the form attached hereto as Exhibit A.
In consideration for the Purchased Property, CARI shall, at the closing hereunder, pay to GMAC an amount equal to ▇▇▇ Initial Aggregate Discounted Principal Balance in respect of the Receivables (the "Receivables Purchase Price") and GMAC shall execute and deliver to CARI an assignment in the form attached hereto as Exhibit A.
Any such supplement shall contain, in addition to the data required by the definition of the term "Schedule of Contracts and Leased Vehicles", an identification of the Discounted Principal Balance of each 1998-B Contract added or removed.
Such Subsequent Contracts and Subsequent Leased Vehicles to be allocated to the 1997-A SUBI Portfolio and 1997-A SUBI Sub-Trust shall have an aggregate Discounted Principal Balance as of the related Transfer Date of an amount not greater than all Principal Collections received after the Cutoff Date (including the amounts treated as Principal Collections pursuant to Section 3.01 of the 1997-A Securitization Trust Agreement) that have not been so applied pursuant to this Section 3.02(a).
GMAC hereby represents that as of the Additional Cutoff Date the Additional Receivables Discounted Principal Balance of the Additional Receivables conveyed hereby was $[_____].
GMAC and ▇▇▇▇ hereby acknowledge that the Additional Receivables Discounted Principal Balance for the Additional Receivables assigned hereunder is $[__________ ].
Such Subsequent Contracts and Subsequent Leased Vehicles to be allocated to the 1998-C SUBI Portfolio and 1998-C SUBI Sub-Trust shall have an aggregate Discounted Principal Balance as of the related Transfer Date of an amount not greater than all Principal Collections received after the Cutoff Date (including the amounts treated as Principal Collections pursuant to Section 3.01(c) and 3.01(k) of the 1998-C Securitization Trust Agreement) that have not been so applied pursuant to this Section 3.02(a).
In the case of prepayment of a Purchased Receivable by an Obligor prior to the scheduled termination date of the relevant Financing Contract (a "Prepayment"), VWFS and the Issuer will compensate each other for the difference between the Discounted Principal Balance (or part thereof) for the relevant Purchased Receivable and the Collections received from the Obligor in the relevant Monthly Period.

More Definitions of Discounted Principal Balance

Discounted Principal Balance. With respect to any Mortgage Asset that as of the Cut-off Date is a Discounted Mortgage Asset, as of the Cut-off Date, an amount equal to the sum of all future Scheduled Payments (including any Balloon Payment) to become due thereon net of interest calculated at the aggregate of the Servicing Fee Rate and the Trustee Fee Rate, discounted to present value on a monthly basis at 7.25% per annum. With respect to any Mortgage Asset that became a Discounted Mortgage Asset as a result of the occurrence of an event described in clause (y) of the definition thereof, as of the related Discount Date, an amount equal to the sum of the Discounted Scheduled Payments to become due thereon (assuming for purposes hereof that all payments to become due thereon are the Discounted Scheduled Payments), discounted on a monthly basis at the Projected Net Mortgage Rate thereof.

Discounted Principal Balance means, as of any date of determination and with respect to a Facility Receivable, the present value of the Principal Balance of such Facility Receivable, discounted using the Discount Rate and the number of months remaining until the maturity of such Facility Receivable. For the purposes of this calculation, the number of months remaining until maturity means the greater of (i) 1, and (ii) the number of days from any date of determination to the 1-year anniversary of the origination of such Facility Receivable, divided by 30, and rounded to the nearest integer.

Discounted Principal Balance. The Discounted Principal Balance means as of the end of any Monthly Period the present value of a single Purchased Receivable, or the relevant Purchased Receivables, remaining to be paid in the future, calculated using a discount rate equal to the Discount Rate. The Discounted Principal Balance includes for the avoidance of doubt Purchased Receivable(s) or portions of Purchased Receivable(s) which are still unpaid save that where any Purchased Receivable(s) have been written-off by the Servicer in accordance with its Customary Operating Practices as applicable from time to time, the Discounted Principal Balance of such Purchased Receivables shall be zero. Pre-Enforcement Order of Priority Prior to the delivery of an Enforcement Notice, the Available Distribution Amount will be applied by the Servicer in making the following payments in the following order of priority but in each case only to the extent that all payments of a higher priority have been made in full (the "Pre-Enforcement Order of Priority"):