Monthly Principal Distributable Amount definition

Monthly Principal Distributable Amount means, for any Payment Date and the related Collection Period, an amount equal to (a) the lesser of (i) the Principal Distribution Amount and (ii) the Available Principal Distribution Amount or (b) after the occurrence of an Indenture Default that results in acceleration of the Notes, unless and until such acceleration has been rescinded, the aggregate Outstanding Amount of the Notes.
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Monthly Principal Distributable Amount means, with respect to any Settlement Date, the sum of: (i) the principal portion of all Scheduled Payments due with respect to the related Monthly Period on the Receivables (other than Liquidating Receivables), (ii) the principal portion of all Prepayments received during the related Monthly Period (except to the extent included in (i) above) and (iii) the Receivable Balance of each Receivable that the Servicer purchased, the Seller repurchased or that became a Liquidating Receivable during the related Monthly Period (except to the extent included in (i) or (ii) above).
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Monthly Principal Distributable Amount. As of any Distribution Date with respect to a Class of Notes, an amount with respect to the immediately preceding Remittance Period, and to the extent of Available Funds, equal to the sum of (A) all collections allocable to principal with respect to the applicable Group, whether through prepayment or liquidation of Mortgaged Properties, repurchased Home Equity Loans, or otherwise; (B) the Principal Balance of any Home Equity Loan that became a Liquidated Loan during the Remittance Period immediately preceding such Distribution Date; and (C) the Distributable Excess Spread.
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Examples of Monthly Principal Distributable Amount in a sentence

  • For the avoidance of doubt, the Note Monthly Principal Distributable Amount, or any portion thereof, shall not be due (other than in accordance with the first sentence of this Section 2.07(b), the subsequent sentence of this Section 2.07(b), Section 5.02 and Section 10.03 of this Indenture), unless amounts are actually available to make such payments in accordance with Section 5.04(b) of the Sale and Servicing Agreement.

  • For purposes of distributions from the Reserve Account pursuant to Section 5.05(e) of the Sale and Servicing Agreement, any portion of the Note Monthly Principal Distributable Amount shall be deemed to be due on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Account and distributed with the priorities set forth in accordance with Section 5.04(b) of the Sale and Servicing Agreement.

  • For purposes of distributions from the ​Reserve Account pursuant to Section 5.05(e) of the Sale and Servicing Agreement, any portion of the Note Monthly Principal Distributable Amount shall be deemed to be due on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Account and distributed with the priorities set forth in accordance with Section 5.04(b) of the Sale and Servicing Agreement.

  • The principal of the Class B Notes will be payable on each Payment Date, to the extent of funds available therefor, in an amount generally equal to the Class B Noteholders' Monthly Principal Distributable Amount; provided, that no principal payments will be made with respect to the Class B Notes on any Payment Date until all amounts payable with respect to the Class A Notes on that Payment Date have been paid in full.

  • For purposes of Table of Contents distributions from the Reserve Account pursuant to Section 5.05(e) of the Sale and Servicing Agreement, any portion of the Note Monthly Principal Distributable Amount shall be deemed to be due on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Account and distributed with the priorities set forth in accordance with Section 5.04(b) of the Sale and Servicing Agreement.

  • Class B Notes$0.00D.Note Principal Carryover Shortfall$0.00E.Special Mandatory Redemption Amounts (from Pre-Funding Account as defined in Article I of the Sale and Servicing Agreement)$0.00F.Note Monthly Principal Distributable Amount (the sum of items 3.A., 3.B., 3.C., 3.D. and 3.E.)$18,755,950.59 E.

  • Class B Notes$0.00D.Note Principal Carryover Shortfall$0.00E.Special Mandatory Redemption Amounts (from Pre-Funding Account as defined in Article I of the Sale and Servicing Agreement) due to Class A-1 Notes$0.00F.Note Monthly Principal Distributable Amount (the sum of items 3.A., 3.B., 3.C., 3.D. and 3.E.)$15,764,177.93 E.

  • On each Distribution Date thereafter, the full Noteholders' Monthly Principal Distributable Amount will be distributable as principal to the Noteholders.

  • For purposes of distributions from the ​​Reserve Account pursuant to Section 5.05(e) of the Sale and Servicing Agreement, any portion of the Note Monthly Principal Distributable Amount shall be deemed to be due on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Account and distributed with the priorities set forth in accordance with Section 5.04(b) of the Sale and Servicing Agreement.

  • Class B Notes$0.00D.Note Principal Carryover Shortfall$0.00E.Special Mandatory Redemption Amounts (from Pre-Funding Account as defined in Article I of the Sale and Servicing Agreement)$0.00F.Note Monthly Principal Distributable Amount (the sum of items 3.A., 3.B., 3.C., 3.D. and 3.E.)$10,189,097.71 E.


More Definitions of Monthly Principal Distributable Amount

Monthly Principal Distributable Amount means, for any Payment Date, an amount equal to the excess, if any, of (a) the Pool Balance as of the first day of the related Collection Period (before giving effect to any reduction in the Pool Balance on that day) over (b) the Pool Balance as of the last day of the related Collection Period (after giving effect to any reduction in the Pool Balance on that day); provided, however, that the Monthly Principal Distributable Amount shall not be greater on any Payment Date than the excess of (a) (i) the Note Balance on that Payment Date (before giving effect to any payments made to Noteholders on that Payment Date) minus (ii) the aggregate of the Class A Principal Carryover Shortfall, the Class B Principal Carryover Shortfall and the Class C Principal Carryover Shortfall for that Payment Date, over (b) the Pool Balance as of the last day of the related Collection Period (after giving effect to any reduction in the Pool Balance on that day).
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Monthly Principal Distributable Amount means, with respect to any Payment Date, without duplication, the sum of (i) the principal portion (calculated on the basis of the Simple Interest Method) of all Collected Funds received during the immediately preceding Collection Period (other than Net Liquidation Proceeds) including the principal portion of all prepayments, (ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during the related Collection Period, (iv) at the option of the Insurer (so long as no Insurer Default shall have occurred and be continuing), from funds received from the Insurer pursuant to Section 5.10 hereof, the Principal Balance of all the Receivables that were required to be purchased pursuant to Sections 3.2 and 4.7, during such Collection Period but were not purchased, (v) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period; and (vi) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Indenture Trustee for distribution pursuant to Section 5.6 of the Indenture. "[____________]" means [_______________], or its successors.
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Monthly Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to the sum of the following amounts, without duplication, with respect to the immediately preceding Due Period, (a) with respect to Precomputed Auto Loans, the principal component of all scheduled payments received with respect to such Auto Loans; (b) with respect to Simple Interest Auto Loans, that portion of all scheduled payments on such Auto Loans allocable to principal received during such Due Period; (c) the principal portion of all prepayments in full and partial prepayments received with respect to any Auto Loans; (d) the Principal Balance of all Auto Loans that became Defaulted Auto Loans during such Due Period immediately prior to such Auto Loans becoming Defaulted Auto Loans and (e) to the extent attributable to principal, the Repurchase Price of each Auto Loan that was purchased by the Seller or by Eagle Finance during the related Due Period.
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Monthly Principal Distributable Amount as of any Distribution Date with respect to a Class of Notes, an amount with respect to the immediately preceeding Remittance Period, and to the extent of Available Funds, equal to the sum of (A) all collections allocable to principal with respect to the applicable Group, whether through prepayment or liquidation of Mortgaged Properties, repurchased Home Equity Loans, or otherwise; (B) the Principal Balance of any Home Equity Loan that became a Liquidated Loan during the Remittance Period immediately preceding such Distribution Date; and (C) the Distributable Excess Spread.
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Related to Monthly Principal Distributable Amount

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.

  • Class B Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) the positive difference of (x) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto minus (y) the Class A Principal Distributable Amount and (ii) the Class B Note Balance; provided, however, on the Class B Stated Final Maturity Date, the Class B Principal Distributable Amount will equal the Class B Note Balance.

  • Principal Distributable Amount means, with respect to any Distribution Date, the amount equal to the excess, if any, of (x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables), (ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during the related Collection Period, (iv) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period; and (v) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Trust Collateral Agent for distribution pursuant to Section 5.7 hereof over (y) the Step-Down Amount, if any, for such Distribution Date.

  • Noteholders’ Principal Distributable Amount means, with respect to any Distribution Date, (other than the Final Scheduled Distribution Date for any Class of Notes), the sum of the Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Principal Distributable Amount for such Distribution Date, (ii) the Noteholders’ Principal Carryover Amount as of such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

  • Group II Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group II Basic Principal Distribution Amount for such Distribution Date and (ii)(a) the Extra Principal Distribution Amount for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Group I Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group I Basic Principal Distribution Amount for such Distribution Date and (ii)(a) the Extra Principal Distribution Amount for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Aggregate Noteholders’ Principal Distributable Amount With respect to any Distribution Date, the sum of (i) the Noteholders’ Regular Principal Distributable Amount as of such Distribution Date and (ii) the Aggregate Noteholders’ Priority Principal Distributable Amount as of such Distribution Date.

  • Class A Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the aggregate Class Certificate Balances of the Class A Certificates immediately prior to such Distribution Date over (ii) the lesser of (A) 54.50% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over $3,608,680.

  • Class X Distributable Amount On any Distribution Date, (i) as a distribution in respect of interest, the amount of interest that has accrued on the Class X Interest and not applied as an Extra Principal Distribution Amount on such Distribution Date, plus any such accrued interest remaining undistributed from prior Distribution Dates, plus, without duplication, (ii) as a distribution in respect of principal, any portion of the principal balance of the Class X Interest which is distributable as an Overcollateralization Reduction Amount, minus (iii) any amounts paid as a Basis Risk Payment.

  • Class A Monthly Principal shall have the meaning specified in Section 4.03(a).

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

  • Class A Interest Distributable Amount means, with respect to any Distribution Date and each class of Class A Notes, an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class A Notes at the related Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the related Class A Interest Carryover Shortfall for the current Distribution Date.

  • Class B-3 Principal Distribution Amount For any Distribution Date, an amount equal to the lesser of (x) the remaining Principal Distribution Amount for such Distribution Date after distribution of the Class A Principal Distribution Amount, the Class M-1 Principal Distribution Amount, the Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal Distribution Amount, the Class M-6 Principal Distribution Amount, the Class B-1 Principal Distribution Amount, and the Class B-2 Principal Distribution Amount and (y) the excess, if any, of (a) the sum of (1) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the distribution of the Class A Principal Distribution Amount on such Distribution Date), (2) the Certificate Principal Balance of the Class M-1 Certificates (after taking into account the distribution of the Class M-1 Principal Distribution Amount on such Distribution Date), (3) the Certificate Principal Balance of the Class M-2 Certificates (after taking into account the distribution of the Class M-2 Principal Distribution Amount on such Distribution Date), (4) the Certificate Principal Balance of the Class M-3 Certificates (after taking into account the distribution of the Class M-3 Principal Distribution Amount on such Distribution Date), (5) the Certificate Principal Balance of the Class M-4 Certificates (after taking into account the distribution of the Class M-4 Principal Distribution Amount on such Distribution Date), (6) the Certificate Principal Balance of the Class M-5 Certificates (after taking into account the distribution of the Class M-5 Principal Distribution Amount on such Distribution Date), (7) the Certificate Principal Balance of the Class M-6 Certificates (after taking into account the distribution of the Class M-6 Principal Distribution Amount on such Distribution Date), (8) the Certificate Principal Balance of the Class B-1 Certificates (after taking into account the distribution of the Class B-1 Principal Distribution Amount on such Distribution Date), (9) the Certificate Principal Balance of the Class B-2 Certificates (after taking into account the distribution of the Class B-2 Principal Distribution Amount on such Distribution Date) and (10) the Certificate Principal Balance of the Class B-3 Certificates immediately prior to such Distribution Date, over (b) the lesser of (1) the product of (x) 86.20% and (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month), and (2) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month) minus the Overcollateralization Floor.

  • 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.