Minimum Target Principal Balance definition
Minimum Target Principal Balance means, with respect to the ACS Group Class A Securities on any Payment Date, the amount set forth in Schedule 3 to this Indenture and set forth in Schedule 3 to the Guarantor Indenture for such Payment Date, subject to the following adjustment. If any ACS Group Initial Aircraft ceases to be owned by the ACS Group before the end of the useful life of such ACS Group Initial Aircraft, the Minimum Target Principal Balance for each Payment Date occurring after the Calculation Date next succeeding the date of such cessation will be adjusted to be equal to: (x) if such Payment Date occurs on or before the fifth anniversary of the Initial Closing Date, the Assumed Portfolio Value for such Payment Date multiplied by the ACS Group Class A Security Portion or (y) if such Payment Date occurs after the fifth anniversary of the Initial Closing Date, the sum for all ACS Group Initial Aircraft then owned by the ACS Group of the product of (1) the Assumed Base Value of each such ACS Group Initial Aircraft for such Payment Date, (2) the ACS Group Class A Security Portion and (3) a fraction (a) the numerator of which shall be equal to the remaining Expected Useful Life in months of such ACS Group Aircraft as of such Payment Date and (b) the denominator of which shall be equal to the remaining Expected Useful Life of such ACS Group Aircraft in months as of the fifth anniversary of the Initial Closing Date, provided that in no event the Minimum Target Principal Balance for any Payment Date shall be less than zero. If any ACS Group Initial Aircraft has undergone a conversion, the Minimum Target Principal Balance for each Payment Date occurring after the Calculation Date next succeeding the later of the fifth anniversary of the Initial Closing Date or the date of the completion of such conversion will be adjusted to be equal to the sum for all ACS Group Initial Aircraft then owned by the ACS Group of the product of (1) the Assumed Base Value of each such ACS Group Initial Aircraft for such Payment Date, (2) the ACS Group Class A Security Portion and (3) a fraction (a) the numerator of which shall be equal to the remaining Expected Useful Life in months of such ACS Group Aircraft as of such Payment Date and (b) the denominator of which shall be equal to the remaining Expected Useful Life of such ACS Group Aircraft in months as of the fifth anniversary of the Initial Closing Date (for the purpose of this clause (b), the Expected Useful Life of such ACS Group Aircraft will be deeme...
Minimum Target Principal Balance means, with respect to any class of Notes on any Payment Date, the product of (a) the Minimum Class Percentage for such class of Notes on such Payment Date and (b) the Assumed Portfolio Value in respect of such Payment Date; provided that, if on any Payment Date the Outstanding Principal Balance of Class A Notes is greater than the Adjusted Portfolio Value in respect of such Payment Date, then the "Minimum Target Principal Balance" of Class A Notes shall be equal to the Scheduled Target Principal Balance of Class A Notes.
Minimum Target Principal Balance set forth in Appendix A to this Indenture for such Payment Date, as such amount shall be adjusted from time to time in accordance with Section 3.11 hereof.
More Definitions of Minimum Target Principal Balance
Minimum Target Principal Balance means, with respect to the Notes on any Payment Date, the amount set forth in Schedule 6 to this Indenture for such Payment Date, subject to adjustments set forth therein.
Minimum Target Principal Balance means, with respect to (i) the AerCo Group Class A Notes and the AerCo Group Class B Notes on any Payment Date, the product of (x) the Minimum Class Percentage for such class of AerCo Group Notes on such Payment Date and (y) the Assumed Portfolio Value in respect of such Payment Date; provided that, if on any Payment Date the Outstanding Principal Balance of AerCo Group Class A Notes is greater than the Adjusted Portfolio Value in respect of such Payment Date, then the
Minimum Target Principal Balance means, with respect to (i) the MSAF Group Class A Notes and the MSAF Group Class B Notes on any Payment Date, the product of (x) the Minimum Class Percentage for such class of MSAF Group Notes on such Payment Date and (y) the Assumed Portfolio Value in respect of such Payment Date; provided that, if on any Payment Date the Outstanding Principal Balance of MSAF Group Class A Notes is greater than the Adjusted Portfolio Value in respect of such Payment Date, then the "Minimum Target Principal Balance" of MSAF Group Class A Notes shall be equal to the Scheduled Target Principal Balance of MSAF Group Class A Notes and (ii) the MSAF Group Class C Notes and the MSAF Group Class D Notes on any Payment Date, the "Minimum Target Principal Balance" set forth in Appendix A to this Indenture for such Payment Date, as such amount shall be adjusted from time to time in accordance with Section 3.11 hereof.
Minimum Target Principal Balance of Class A Notes shall be equal to the Scheduled Target Principal Balance of Class A Notes.
Minimum Target Principal Balance of MSAF Group Class A Notes shall be equal to the Scheduled Target Principal Balance of MSAF Group Class A Notes and (ii) the MSAF Group Class C Notes and the MSAF Group Class D Notes on any Payment Date, the "Minimum Target Principal Balance" set forth in Appendix A to this Indenture for such Payment Date, as such amount shall be adjusted from time to time in accordance with Section 3.11 hereof.
Minimum Target Principal Balance of AerCo Group Class A Notes shall be equal to the Scheduled Target Principal Balance of AerCo Group Class A Notes and (ii) the AerCo Group Class C Notes and the AerCo Group Class D Notes on any Payment Date, the "Minimum Target Principal Balance" set forth in Appendix A to this Indenture for such Payment Date, as such amount shall be adjusted from time to time in accordance with Section 3.11 hereof.