Mandatory Limited Amortization Period definition

Mandatory Limited Amortization Period means the period commencing on the first day of the first Monthly Period that commences on or after the Mandatory Limited Amortization Date and ending the earliest to occur of (x) the payment in full of the Non-Renewing Purchaser Class A Principal Balance, (y) the commencement of the Controlled Amortization Period or the Early Amortization Period and (z) the Series Termination Date.
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Mandatory Limited Amortization Period means each period that the Seller is required to commence pursuant to Section 21(c)(ii) for the benefit of one or more Non-Renewing Purchasers, which shall commence on the date specified pursuant to Section 21(c)(ii) and end upon the earliest to occur of (x) the payment in full of the related Limited Amortization Amount, (y) the Rapid Amortization Commencement Date and (z) the Series Termination Date.
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Mandatory Limited Amortization Period means the period (I) commencing on, (a) with respect to a Mandatory Limited Amortization Date resulting from a Declined Renewal, the first day of the first month that commences on or after the Mandatory Limited Amortization Date and, (b) with respect to a Mandatory Limited Amortization Date resulting from a Merchant Bankruptcy Event, the date such Mandatory Limited Amortization Date occurs and (II) ending on the earliest to occur of (a) (i) with respect to a Declined Renewal, the payment in full of the Non-Renewing Purchaser Funded Amount and (ii) with respect to a Merchant Bankruptcy Event, the earlier of (x) the date on which the Transferor Amount is equal to or greater than the Minimum Transferor Amount and the aggregate amount of Principal Receivables plus amounts on deposit in the Excess Funding Account will be equal to or greater than the Required Principal Balance and (y) the date on which the Class A Invested Amount has been reduced to zero, (b) the commencement of the Controlled Amortization Period or the Early Amortization Period and (c) Series 2009-VFC1 Termination Date; provided that if a Mandatory Limited Amortization Date has occurred as a result of both a Declined Renewal and a Merchant Bankruptcy Event, the Mandatory Limited Amortization Period resulting from the Declined Renewal shall be suspended and shall commence or recommence, as applicable, upon termination of the Mandatory Limited Amortization Period with respect to the Merchant Bankruptcy Event.
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Examples of Mandatory Limited Amortization Period in a sentence

  • An amount equal to the Limited Amortization Amount with respect to any Mandatory Limited Amortization Period shall be deposited into the Series Distribution Account.


More Definitions of Mandatory Limited Amortization Period

Mandatory Limited Amortization Period means the period (I) commencing on, (a) with respect to a Mandatory Limited Amortization Date resulting from a Declined Renewal, the first day of the first month that commences on or after the Mandatory Limited Amortization Date and, (b) with respect to a Mandatory Limited Amortization Date resulting from a Merchant Bankruptcy Event, the date such Mandatory Limited Amortization Date occurs and (II) ending on the earliest to occur of (a) (i) with respect to a Declined Renewal, the payment in full of the Non-Renewing Purchaser Funded Amount and (ii) with respect to a Merchant Bankruptcy Event, the earlier of (x) the date on which the Transferor Amount is equal to or greater than the Minimum Transferor Amount and the aggregate amount of Principal Receivables plus amounts on deposit in the Excess Funding Account will be equal to or greater than the Required Principal Balance and (y) the date on which the Class A Invested Amount has been reduced to zero, (b) the commencement of the Controlled Amortization Period or the Early Amortization Period and (c) Series 2009-VFC1 Termination Date; provided that if a Mandatory Limited Amortization Date has occurred as a result of both a Declined Renewal and a Merchant Bankruptcy Event, the Mandatory Limited Amortization Period resulting from the Declined Renewal shall be suspended and shall commence or recommence, as applicable, upon termination of the Mandatory Limited Amortization Period with respect to the Merchant Bankruptcy Event.
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Related to Mandatory Limited Amortization Period

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2009-VFN Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Amortization Date means the earliest to occur of (i) the day on which any of the conditions precedent set forth in Section 6.2 are not satisfied, (ii) the Business Day immediately prior to the occurrence of an Event of Bankruptcy with respect to any Seller Party, (iii) the Business Day specified in a written notice from the Administrator following the occurrence of any other Amortization Event, and (iv) the date which is 30 days after the Administrator’s receipt of written notice from Seller that it wishes to terminate the facility evidenced by this Agreement.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Return Accumulation Period means the period from (and including) a Periodic Distribution Date (or, in the case of the first Return Accumulation Period, the Issue Date) to (but excluding) the next (or, in the case of the first Return Accumulation Period, the first) Periodic Distribution Date;

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Funding Period means the period beginning on the Closing Date and ending on the first to occur of (a) the Distribution Date on which the amount on deposit in the Pre-Funding Account (after giving effect to any transfers therefrom in connection with the transfer of Subsequent Contracts to the Trust on such Distribution Date) is less than $150,000, (b) the date on which an Event of Termination occurs, (c) the date on which an Insolvency Event occurs with respect to the Trust Depositor and (d) the close of business on the date which is 90 days from and including the Closing Date.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Amortization Commencement Date means the date on which an Amortization Event is deemed to occur pursuant to Section 20 hereof.

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and

  • Interest Calculation Period means the interest calculation period set out or referred to in item 5(d) of the Mortgage Form;

  • Principal Payment Dates means unless otherwise determined by the Fiscal Officer in the Certificate of Award, December 1 in the years from and including 2020 to and including 2035, provided that in no case shall the latest Principal Payment Date be later than the maximum maturity of the Bonds referred to in the preambles hereto.