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of an Indenture Default that results in acceleration of the Notes, unless and until such acceleration has been rescinded, the aggregate Outstanding Amount of the Notes.
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).
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.
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).
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.
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.
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.