Expected Monthly Principal definition
Expected Monthly Principal shall be equal to the product of (i) the -------------------------- lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Trust as of the last day of the preceding month, adjusted for additions and removals occurring after such last day), expressed as a decimal for the 12 calendar months preceding the date of such calculation (or such lower principal payment rate as the Servicer may select) and (ii) the sum of the Initial Invested Amounts (as defined in the related Supplement) of all outstanding Series, other than Variable Funding Series.
Expected Monthly Principal shall be equal to the product of (i) the lowest of the monthly principal payment rates expressed as a decimal for the 12 months preceding the date of such calculation and (ii) the initial invested amounts of all outstanding Series, other than Excluded Series (except if an Amortization Event has occurred with respect to such Excluded Series).
Expected Monthly Principal means, for a Due Period, an amount equal -------------------------- to the product of (a) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables with respect to a Due Period by the amount of Aggregate Principal Receivables as of the last day of the immediately preceding Due Period), expressed as a decimal, for the 12 Due Periods immediately preceding the Determination Date with respect to the September 1999 Distribution Date (including the Due Period related to the September 1999 Distribution Date)(or such lower principal payment rate as the Servicer may select) and (b) the sum of the initial invested amounts (as defined in the respective related Supplements) of all then outstanding Series.
More Definitions of Expected Monthly Principal
Expected Monthly Principal means, for any Monthly Period, an amount equal to the product of (i) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Master Trust as of the last day of the preceding month, adjusted for additions to and removals from the Master Trust occurring after such last day), expressed as a decimal for the 12 calendar months preceding the date of such calculation (or such lower principal payment rate as the Transferor may select) and (ii) the sum of (A) the sum of the initial Invested Amounts of all outstanding Series of Investor Certificates issued by the Master Trust, other than Variable Funding Series and (B) the Principal Allocation Amount of each Tranche of Asset Pool 1 Notes. Capitalized terms used in this definition and not otherwise defined herein have the meaning given to such terms in the COMT Pooling and Servicing Agreement and the Series 2002-CC Supplement.
Expected Monthly Principal shall be equal to the product of
Expected Monthly Principal shall be equal to the excess of (a) the product of (i) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Trust as of the last day of the preceding month, adjusted for additions and removals occurring after such last day), expressed as a decimal, for the 3 calendar months preceding the date of such calculation (or such lower principal payment rate as the Servicer may select) and (ii) the sum of the Initial Invested Amounts (as defined in their respective related Supplements) of all outstanding Series, over (b) the sum of, without duplication, (i) all Series which have a fixed Accumulation Period Length (as defind in the respective related Supplements) and which are either amortizing or accumulating principal and (ii) all Collections of Principal Receivables accounted for in clause (a) above which are projected by the Servicer to be allocable to any other Series then in an Early Amortization Period or an Early Accumulation Peroid (as such terms are defined in the related Supplement).
Expected Monthly Principal shall be equal to the excess of (a) the product of (i) the lowest monthly principal payment rate (determined by dividing Collections of Principal Receivables during a related Due Period by the amount of Principal Receivables in the Trust as of the last day of the preceding Due Period, adjusted for additions and removals occurring after such last day), expressed as a decimal, for the 3 Due Periods preceding the date of such calculation (or such lower principal payment rate as the Servicer may select) and (ii) the sum of (X) the Initial Invested Amounts (as defined in their respective related Supplements) of all outstanding Series which are not Variable Funding Series and (Y) the Invested Amounts (as defined in their respective related Supplements) of all outstanding Variable Funding Series, over (b) the sum of, without duplication, (i) the allocations of Collections of Principal Receivables required for all Series which have controlled accumulation periods or controlled amortization periods, the length of which may not be altered in accordance with the terms of their related Supplements, and which are either amortizing or accumulating principal at such time and (ii) all Collections of Principal Receivables accounted for in clause (a) above which are then being allocated to any other Series then in an Early Amortization Period or an Early Accumulation Period (as such terms are defined in the related Supplement).
Expected Monthly Principal shall be equal to the product of (i) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Master Trust as of the last day of the preceding month, adjusted for additions to and removals from the Master Trust occurring after such last day), expressed as a decimal for the 12 calendar months preceding the date of such calculation (or such lower principal payment rate as the Transferor may select) and (ii) the sum of (A) the sum of the initial invested amounts (as defined in the related Supplement) of all outstanding Series of investor certificates issued by the Master Trust, other than Variable Funding Series and (B) the highest Outstanding Dollar Principal Amount of each Tranche of Asset Pool One Notes (other than such Tranche of Notes). Capitalized terms used in this definition and not otherwise defined herein have the meaning given to such terms in the Pooling Agreement and the Series 2002-CC Supplement.
Expected Monthly Principal for the Group to which the Series established hereby belongs shall be no greater than the product of (i) the lowest of the monthly principal payment rates (determined by dividing Principal Collections during a Due Period by the amount of Principal Receivables in the Trust as of the last day of the preceding Due Period), expressed as a decimal for the 12 calendar months preceding the date of such calculation; provided, however, that such calculation period may be shortened by the Servicer if payment terms have been materially changed during such 12 calendar month period with respect to the Accounts, and (ii) the sum of the Series Invested Amounts for all outstanding series in the Group to which the Series established hereby belongs, minus the sum of all Class Invested Amounts for any Seller Retained Classes for all outstanding series in the Group to which the Series established hereby belongs.
Expected Monthly Principal means, for a Due Period, an amount -------------------------- equal to the product of (a) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables with respect to a Due Period by the amount of Aggregate Principal Receivables as of the last day of the immediately preceding Due Period), expressed as a decimal, for the 12 Due Periods immediately preceding the Determination Date with respect to the ________ ____ Distribution Date (including the Due Period related to the _________ ____ Distribution Date)(or such lower principal payment rate as the Servicer may select) and (b) the sum of the initial invested amounts (as defined in the respective related Supplements) of all then outstanding Series.