M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A1, Class A2-A, Class A2-B and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and after the allocation of Deferred Interest, if any, for such Distribution Date, and (ii) the Class Principal Amount of the Class M2 Certificates after the allocation of Deferred Interest, if any, for such Distribution Date and immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

Examples of M2 Principal Distribution Amount in a sentence

The “Class Principal Distribution Amount” with respect to each Distribution Date means each of the Class M-1 Principal Distribution Amount and the Class M-2 Principal Distribution Amount for such Distribution Date.
The Class M-1 Principal Distribution Amount shall be distributed to the Lower-Tier M-1 Interest, the Class M-2 Principal Distribution Amount shall be distributed to the Lower-Tier M-2 Interest and the Class B Principal Distribution Amount shall be distributed to the Lower-Tier B Interest.

More Definitions of M2 Principal Distribution Amount

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates and the Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and after the allocation of Net Negative Amortization, if any, for each Distribution Date, and (ii) the Class Principal Amount of the Class M2 Certificates after the allocation of Net Negative Amortization, if any, for such Distribution Date and immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amounts of the Class 1-A1, Class 1-A2, Class 1-A3, Class 2-A1, Class 2-A2, Class 2-A3, Class 3-A and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class IA1, Class IA2, Class IA3, Class IA4, Class IIA and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 97.00% and (ii) the Total Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Total Loan Balance for such Distribution Date exceeds (ii) 0.25% of the Cut-off Date Total Loan Balance.

M2 Principal Distribution Amount. With respect to any Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Certificate Principal Amount of the Senior Certificates and the Class Principal Amount of the Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 89.58% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Aggregate Loan Balance.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Pool 1-2 Stepdown Date and as long as a Pool 1-2 Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Group 1 Senior Certificates, Group 2 Senior Certificates and the Class M1 Certificates in each case, after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

M2 Principal Distribution Amount. With respect to any Distribution Date on or after the Pool 1 Stepdown Date and as long as a Pool 1 Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class 1-A Certificates and the Class 1-M1 Certificates, in each case, after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class 1-M2 Certificates immediately prior to such Distribution Date exceeds (y) the 1-M2 Target Amount.