Monthly Principal Amount definition

Monthly Principal Amount means, for each Payment Date, starting with the Payment Date in the month following the month in which (a) the Controlled Accumulation Period starts, an amount equal to the lesser of (i) the Controlled Deposit Amount for that Payment Date, and (ii) the Adjusted Invested Amount on that Payment Date, or (b) the Early Amortization Period starts, the Adjusted Invested Amount on that Payment Date.

Monthly Principal Amount shall equal for any Payment Date, the total amount of principal collected (including from prepayments and repurchases) in respect of the Timeshare Loans during the related Due Period.

Monthly Principal Amount. “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.

Examples of Monthly Principal Amount in a sentence

• Interest shall be payable at the same times as the Monthly Principal Amount.

• Subject to Section 2.1 and Article 3 below, on each Repayment Date, the Borrower shall make payments to the Holder in the amount of one-eighteenth (1/18th) of the initial Principal Amount (the "Monthly Principal Amount"), together with any other amounts, except for regular interest, which are then owing under this Note that have not been paid (the Monthly Principal Amount, together with such accrued and unpaid interest and such other amounts, collectively, the "Monthly Amount").

• If the Borrower elects or is required to repay all or a portion of the Monthly Amount in cash on a Repayment Date, then on such Repayment Date the Borrower shall pay to the Holder 101% of the Monthly Principal Amount and 100% of the Monthly Interest Amount in satisfaction of such obligation.

• If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on information in the Monthly Investor Report) will, on each Payment Date for the Controlled Accumulation Period or an Early Amortization Period, deposit in the Series 2016-4 Principal Funding Account from the Excess Funding Account the lesser of (i) the Series 2016-4 Excess Funding Amount, and (ii) the Monthly Principal Amount for that Payment Date.

• If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will, on each Payment Date for the Controlled Accumulation Period or an Early Amortization Period, deposit in the Series 2020-2 Principal Funding Account from the Excess Funding Account the lesser of (i) the Series 2020-2 Excess Funding Amount, and (ii) the Monthly Principal Amount for that Payment Date.

More Definitions of Monthly Principal Amount

Monthly Principal Amount means, with respect to a Payment Date, the excess, if any, of (i) the sum of the Aggregate Principal Amount of the Notes and the Overcollateralization Balance both as of the immediately preceding Payment Date (after making any principal payments on such date) over (ii) the Pool Balance as of the last day of the Collection Period completed immediately prior to such Payment Date.

Monthly Principal Amount or “Reserve Account Required Amount”.

Monthly Principal Amount means the monthly principal distributable in respect of the Series __ Notes as determined pursuant to Section 4.03.

Monthly Principal Amount means, as of any Remittance Date:

Monthly Principal Amount. With respect to any Collection Period, the amount required to be deposited into the Note Distribution Account with respect to that Collection Period in respect of the Series 20[ ]-[ ] Notes as determined pursuant to Section 4.03.

Monthly Principal Amount means, with respect to a Payment Date, the excess, if any, of (i) the sum of the Aggregate Principal Amount of the Notes and the Overcollateralization

Monthly Principal Amount means, with respect to any Payment Date, the excess, if any, of (i) the sum of the Aggregate Principal Amount for such Payment Date, over (ii) the Lease Pool Principal Balance with respect to such Payment Date.