Net Principal Balance definition

Net Principal Balance means, with respect to any Precomputed Auto Loan, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon.

Net Principal Balance means, with respect to a Medallion Loan, the unpaid principal balance of a Medallion Loan less the principal amount of any Permitted Junior Participation Interest in such Medallion Loan.

Net Principal Balance means on any day with respect to all of the Receivables or a specified portion of the Receivables, as indicated by the context, the aggregate Principal Balance of all such Receivables that are Eligible Receivables.

Examples of Net Principal Balance in a sentence

• Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating the outstanding balance of any Medallion Loan under the Loan Agreement or any other Loan Document, be added to the Net Principal Balance of the related Medallion Loan, notwithstanding that the terms of such Medallion Loan so permit.

• The “Weighted Average Loan-To-Value Ratio” shall be computed as the decimal equivalent of a fraction by multiplying the Net Principal Balance and accrued interest of each Medallion Loan by the Loan-To-Value Ratio of such Medallion Loan, and dividing the sum of such numbers by the total outstanding principal and accrued interest on all Medallion Loans.

• The Net Principal Balance of pre-computed Contracts shall equal the payoff balance of such Contracts less unearned finance charges as of the Cutoff Date.

• Permit the ratio, at any time, of the Administrative Value of the Timberlands to the Net Principal Balance at such time to be less than 1.33 to 1.00.

• The nominal value of the claims for payment attached to the cover assets equals the sum of the nominal value of the claims resulting from (A) the Mortgage Receivables (Net Principal Balance as stated in the Investor Report) and (B) the Substitution Assets Amount.

More Definitions of Net Principal Balance

Net Principal Balance as of any date of determination, the Principal Balance as of such date less (i) prior to the Paging Partners Merger Closing Date, the aggregate undrawn face amount of the Letters of Credit and (ii) from and after the Paging Partners Merger Closing Date, zero.

Net Principal Balance with respect to any Precomputed Receivable, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon. Net Unrealized Amount: (a) with respect to any Liquidated Receivable, the Unpaid Principal Balance of such Auto Loan minus the sum of (i) any repossession proceeds allocable to principal actually received on such Auto Loan, (ii) any insurance proceeds allocable to principal actually received from a claim with respect to such Auto Loan and (iii) refunds received from the cancellation of any insurance policies or service contracts with respect to such Auto Loan, and (b) with respect to any Auto Loan where the related Obligor is in bankruptcy, the amount of losses allocable to principal incurred thereon.

Net Principal Balance at any time, the outstanding principal amount of the Note minus the Escrow Amount.

Net Principal Balance means, with respect to a Medallion Loan, the unpaid principal balance of a Medallion Loan less the principal amount of any Permitted Junior Participation Interest in such Medallion Loan; provided, however, that if the Loan-to-Value Ratio of any Category IV Medallion Loan exceeds 90% at any time, the Net Principal Balance of such Category IV Medallion Loan for the purpose of determining the Collateral Value of such Category IV Medallion Loan shall equal 90% of the Medallion Valuation Amount for such Category IV Medallion Loan.

Net Principal Balance means, with respect to a Medallion Loan, the unpaid principal balance of a Medallion Loan less the principal amount of any Permitted Junior Participation Interest in such Medallion Loan; provided, however, that if the Loan-to-Value Ratio of any Former FSP Medallion Loan exceeds 90% at any time, the Net Principal Balance of such Former FSP Medallion Loan for the purpose of determining the Collateral Value of such Former FSP Medallion Loan shall equal 90% of the Medallion Valuation Amount for such Former FSP Medallion Loan.

Net Principal Balance. The amount set forth as such on the Master Contract Schedule determined in accordance with Section 2.1 of this Agreement.

Net Principal Balance with respect to any Precomputed Receivable, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon. Noteholder: at any time, any Person in whose name a Note is registered in the Note Register.