Issuer Principal Deficiency Ledger definition

Issuer Principal Deficiency Ledger means, in relation to the First Issuer, the First Issuer Principal Deficiency Ledger and in relation to any New Issuer, the ledger maintained by the Issuer Cash Manager in the name of such Issuer which will be established on the relevant Closing Date and will be sub-divided into sub ledgers corresponding to the classes of Notes issued by such Issuer in order to record Losses allocated to the Intercompany Loan of such Issuer which are to be allocated to such Notes, the application of Issuer Available Principal Receipts of such Issuer in paying interest on the Notes issued by such Issuer and certain amounts ranking in priority thereto in accordance with the Issuer Pre-Enforcement Revenue Priority of Payments of such Issuer and the application by Funding of Issuer Allocable Principal Receipts of the such Issuer to fund or replenish the Issuer Liquidity Reserve Fund (if any) of such Issuer;
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Issuer Principal Deficiency Ledger means the principal deficiency ledger held by the Issuer relating to the relevant Classes of Notes and comprising sub-ledgers for each such Class of Notes;
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Examples of Issuer Principal Deficiency Ledger in a sentence

  • In the case of the Current Issuer Principal Deficiency Ledger and each Current Issuer Principal Deficiency Sub Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

  • Except in the case of the Current Issuer Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Current Issuer Ledgers, and the corresponding payment or transfer (if any) may only be made from the Current Issuer Transaction Accounts, to the extent that such entry does not cause the relevant ledger to have a debit balance.

  • Except in the case of the Current Issuer Principal Deficiency Ledger and except as provided in Clause 2.4.(b) of the Current Issuer Bank Account Agreement, a debit item shall only be made in respect of any of the Current Issuer Ledgers, and the corresponding payment or transfer (if any) may only be made from the Current Issuer Transaction Accounts, to the extent that such entry does not cause the relevant ledger to have a debit balance.

  • Except in the case of the Current Issuer Principal Deficiency Ledger and except as provided in Clause 2.4(b) of the Current Issuer Bank Account Agreement, a debit item shall only be made in respect of any of the Current Issuer Ledgers, and the corresponding payment or transfer (if any) may only be made from the Current Issuer Transaction Accounts, to the extent that such entry does not cause the relevant ledger to have a debit balance.

Related to Issuer Principal Deficiency Ledger

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

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

  • Cut-off Date Pool Principal Balance: $557,457,043.24

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • 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.

  • U.S. Reportable Account means a Financial Account maintained by a Reporting [FATCA Partner] Financial Institution and held by one or more Specified U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person. Notwithstanding the foregoing, an account shall not be treated as a U.S. Reportable Account if such account is not identified as a U.S. Reportable Account after application of the due diligence procedures in Annex I.

  • Original Lower-Tier Principal Amount With respect to any Class of Uncertificated Lower-Tier Interest, the initial principal amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

  • Reportable Account The term “Reportable Account” means an account held by one or more Reportable Persons or by a Passive NFE with one or more Controlling Persons that is a Reportable Person.

  • 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.

  • Cut-Off Date Aggregate Principal Balance The aggregate of the Cut-Off Date Principal Balances of the Mortgage Loans is as set forth in Section 11.03.

  • 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.

  • Original Class B-5 Principal Balance The Class B-5 Principal Balance as of the Cut-Off Date, 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.

  • Maximum VFN Principal Balance For any VFN Class, the amount specified in the related Indenture Supplement.

  • Note A-1-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Cut-off Date Principal Balance As to any Mortgage Loan, the Stated Principal Balance thereof as of the close of business on the Cut-off Date.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Lower-Tier Principal Amount As described in the Preliminary Statement.

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-1-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.