MBNAseries Available Principal Amounts definition

MBNAseries Available Principal Amounts means, for any month, the sum of the Available Principal Amounts allocated to the MBNAseries, dollar payments for principal under any derivative agreements for tranches of notes of the MBNAseries, and any amounts of MBNAseries Available Funds available to cover defaults on principal receivables in master trust II allocable to the MBNAseries or any deficits in the nominal liquidation amount of the MBNAseries notes.
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MBNAseries Available Principal Amounts means the sum of (a) Available Principal Amounts allocated to the MBNAseries pursuant to Section 502 of the Indenture, (b) any amounts to be treated as MBNAseries Available Principal Amounts pursuant to Section 3.12(a), and (c) any amounts to be treated as MBNAseries Available Principal Amounts pursuant to any terms document.
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MBNAseries Available Principal Amounts. Are Less Than Targeted Amounts. Subject to clause (c) below, if MBNAseries Available Principal Amounts remaining after giving effect to Sections 3.07(a) through (d) are less than the aggregate amount targeted to be deposited into the Principal Funding Account for all tranches of Notes pursuant to Section 3.10, then the amount available will be deposited in the Principal Funding sub-Account established for each tranche in the following priority: (i) first, the amount available will be allocated to the Class A notes pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such tranche of Class A Notes pursuant to Section 3.10, to (B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all tranches of Class A Notes pursuant to Section 3.10; (ii) second, the amount available after the application in clause (i) above will be allocated to the Class B notes, pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such tranche of Class B Notes pursuant to Section 3.10, to (B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all tranches of Class B Notes pursuant to Section 3.10; and (iii) third, the amount available after the applications in clauses (i) and (ii) above will be allocated to the Class C notes, pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such tranche of Class C Notes pursuant to Section 3.10, to (B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all tranches of Class C Notes pursuant to Section 3.10. (c) Reallocation of Deposits to the Principal Funding sub- Account of Subordinated Notes. If the restrictions of Section 3.15(a) prevent the deposit of MBNAseries Available Principal Amounts into the Principal Funding sub-Account of any subordinated note, the aggregate amount of MBNAseries Available Principal Amounts available to make the targeted deposit for such subordinated tranche will be allocated first, to each tranche of Class A Notes pro rata based on the ratio of (A) the Required Subordinated Amount with respect to such subordinated class of Notes for such Class A Notes to (B) the Required Subordinated Amount with respect to such subordinated class of Notes for all Class A Notes and, second, if applicable, to each tranche of Class B Notes pro rata ...
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Examples of MBNAseries Available Principal Amounts in a sentence

  • MBNAseries Available Principal Amounts remaining after any reallocations for interest on the senior notes or for a portion of the master trust II servicing fee allocable to the MBNAseries will be applied to make targeted deposits to the principal funding subaccounts of senior notes before being applied to make targeted deposits to the principal funding subaccounts of the subordinated notes if such remaining amounts are not sufficient to make all required targeted deposits.

  • The terms document for any tranche of Notes may include additional amounts which are to be treated as MBNAseries Available Principal Amounts for any Transfer Date.

  • Computation of Reductions to the Nominal Liquidation Amount of Subordinated Classes from Reallocations of MBNAseries Available Principal Amounts.

  • MBNAseries Available Principal Amounts will include MBNAseries Available Funds reallocated to be treated as MBNAseries Available Principal Amounts pursuant to Section 3.01(c) or 3.01(d).

  • Dollar payments received under Derivative Agreements for principal for any tranche of Notes will be treated as MBNAseries Available Principal Amounts.

  • The terms document for any tranche of Notes may ------------- include additional amounts which are to be treated as MBNAseries Available Principal Amounts for any Transfer Date.

  • Subject to clause (c) below, if MBNAseries Available Principal Amounts remaining after giving effect to Sections 3.07(a) through (d) are equal to the aggregate amount of MBNAseries Available Principal Amounts targeted to be deposited into the Principal Funding Account for all tranches of Notes pursuant to Section 3.10, then that targeted amount is deposited in the Principal Funding sub-Account established for each tranche.


More Definitions of MBNAseries Available Principal Amounts

MBNAseries Available Principal Amounts means, for any month, the sum of the Available Principal Amounts allocated to the MBNAseries, dollar payments for principal under any derivative agreements for tranches of notes of the MBNAseries, and any amounts of
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Related to MBNAseries Available Principal Amounts