Insured Principal Deficit Amount definition

Insured Principal Deficit Amount means, with respect to any Payment Date, the excess, if any, of (a) the Series 2004-1 Outstanding Principal Amount on such Payment Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum on such Payment Date of (i) the Series 0000-0 Xxxxx Xxxxxx, (xx) the Series 2004-1 Available Reserve Account Amount, and (iii) the Series 2004-1 Letter of Credit Amount.

Insured Principal Deficit Amount means, with respect to any Distribution Date, the excess, if any, of (a) the Series 2006-2 Outstanding Principal Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum of the Series 2006-2 Available Reserve Account Amount on such Distribution Date, the Series 2006-2 Letter of Credit Amount on such Distribution Date and the Series 2006-2 AESOP I Operating Lease Loan Agreement Borrowing Base on such Distribution Date.

Insured Principal Deficit Amount means, with respect to any Distribution Date, the excess, if any, of (a) the Series 2003-4 Outstanding Principal Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum of the Series 2003-4 Available Reserve Account Amount on such Distribution Date, the Series 2003-4 Letter of Credit Amount on such Distribution Date and the Series 2003-4 AESOP I Operating Lease Loan Agreement Borrowing Base on such Distribution Date.

Examples of Insured Principal Deficit Amount in a sentence

• If the sum of the Series 2006-1 Letter of Credit Amount and the Series 2006-1 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2006-1 Distribution Account.

• If the sum of the Series 2003-5 Letter of Credit Amount and the Series 2003-5 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2003-5 Distribution Account.

• If the sum of the Series 2004-2 Letter of Credit Amount and the Series 2004-2 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2004-2 Distribution Account.

• If the sum of the Series 2006-1 Letter of Credit Amount and the Series 2006-1 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in anamount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2006-1 Distribution Account.

• If the sum of the Series 2005-2 Letter of Credit Amount and the Series 2005-2 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2005-2 Distribution Account.

More Definitions of Insured Principal Deficit Amount

Insured Principal Deficit Amount means, with respect to any Distribution Date, the excess, if any, of (a) the Series 2005-2 Outstanding Principal Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum of the Series 2005-2 Available Reserve Account Amount on such Distribution Date (after only giving effect to the withdrawal of any amounts in the Series 2005-2 Reserve Account made pursuant to Section 2.3(d) on such Distribution Date), the Series 2005-2 Letter of Credit Amount on such Distribution Date (after giving effect only to the withdrawal of any amounts in the Series 2005-2 Cash Collateral Account pursuant to Section 2.3(c) on such Distribution Date) and the Series 2005-2 AESOP I Operating Lease Loan Agreement Borrowing Base on such Distribution Date.

Insured Principal Deficit Amount means, with respect to any Payment Date, the excess, if any, of (a) the Class A Outstanding Principal Amount measured as of such Payment Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum on such Payment Date of (i) the Class A Asset Amount, (ii) the Class A Available Reserve Account Amount, (iii) the Class A Letter of Credit Amount, (iv) the Class B Available Reserve Account Amount, (v) the Class B Letter of Credit Amount, (vi) the amount of cash and Permitted Investments on deposit in the Series 2005-3 Excess Collection Account and (vii) the amount on deposit in the Series 2005-3 Distribution Account and allocated to effect a redemption of the Class A Notes of any Class.

Insured Principal Deficit Amount means, with respect to any Payment Date, the excess, if any, of (a) the Class A Outstanding Principal Amount measured as of such Payment Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum on such Payment Date of (i) the Class A Asset Amount, (ii) the Class A Available Reserve Account Amount, (iii) the Class A Letter of Credit Amount, (iv) the Class B Available Reserve Account Amount, (v) the Class B Letter of Credit Amount, (vi) the amount of cash and Permitted Investments on deposit in the Series 2005-4 Excess Collection Account and (vii) the amount on deposit in the Series 2005-4 Distribution Account and allocated to effect a redemption of the Class A Notes of any Class.

Insured Principal Deficit Amount means, with respect to any Distribution Date, the excess, if any, of (i) the Series 2004-4 Outstanding Principal Amount measured as of such Distribution Date over (ii) the sum on such Distribution Date of (A) the Series 2004-4 Aggregate Asset Amount, (B) the amount of cash and Permitted Investments on deposit in the Series 2004-4 Excess Collection Account, (C) the Series 2004-4 Available Reserve Account Amount, (D) the Series 2004-4 Letter of Credit Amount and (E) the amount on deposit in the Series 2004-4 Distribution Account and allocated to effect a redemption of the Series 2004-4 Notes.

Insured Principal Deficit Amount means, with respect to any Distribution Date, the excess, if any, of (a) the Series 2004-2 Outstanding Principal Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (b) the sum of the Series 2004-2 Available Reserve Account Amount on such Distribution Date, the Series 2004-2 Letter of Credit Amount on such Distribution Date and the Series 2004-2 AESOP I Operating Lease Loan Agreement Borrowing Base on such Distribution Date.

Insured Principal Deficit Amount. Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (ii) the sum on such Distribution Date of (A) the product of (x) the percentage equivalent of a fraction, the numerator of which is equal to the sum of the Series 1999-1 Invested Amount and the Series 1999-1 Overcollateralization Amount as of such Distribution Date and the denominator of which is equal to the Required Aggregate Asset Amount and (y) the Aggregate Asset Amount on such Distribution Date, (B) the Series 1999-1 Available Reserve Account Amount and (C) the Series 1999-1 Letter of Credit Amount and (b) on or after the Transition Date, the excess, if any, of (i) the Series 1999-1 Outstanding Principal Amount on such Distribution Date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month) over (ii) the sum on such Distribution Date of (A) the Series 1999-1 Operating Lease Asset Amount, (B) the Series 1999-1 Available Reserve Account Amount and (C) the Series 1999-1 Letter of Credit Amount.

Insured Principal Deficit Amount means with respect to any Program Distribution Date, next succeeding each Determination Date, the excess, if any, of (a) the Series 2001-2 Outstanding Principal Amount on such Program Distribution Date over (b) the sum of the Series 2001-2 Available Reserve Account Amount on such Program Distribution Date, the Series 2001-2 AESOP I Operating Lease Loan Agreement Borrowing Base and the amount on deposit in the Series 2001-2 Excess Collection Account and the Series 2001-2 Distribution Account and set aside for application to a redemption of Series 2001-2 Notes of any Class pursuant to Section 7.1 or 7.2 of this Supplement on such Program Distribution Date.