Note Principal Balance definition

Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

Note Principal Balance means, (i) with respect to Note A-1, the Note A-1 Principal Balance and (ii) with respect to Note A-2, the Note A-2 Principal Balance.

Note Principal Balance means, on any date of determination, an amount equal to the sum of the Class A Note Principal Balance, the Class B Note Principal Balance and the Class C Note Principal Balance.

Examples of Note Principal Balance in a sentence

• If any such acceleration of maturity occurs prior to the payment of the entire unpaid Note Principal Balance of the Notes, the amount payable to the Holder of this Note will be equal to the sum of the unpaid Note Principal Balance of the Notes, together with accrued and unpaid interest thereon as described in the Indenture.

• The Notes are exchangeable for a like aggregate initial Note Principal Balance of Notes of different authorized denominations, as requested by the Holder surrendering same.

• On the Closing Date and pursuant to an Issuer Order, the Registrar will execute and authenticate one or more Book-Entry Notes in an aggregate principal amount that shall equal the Initial Note Principal Balance.

• The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the aggregate Note Principal Balance of the Notes on behalf of the Holders of all the Notes, to waive any past Default under the Indenture and its consequences.

• On the date on which the Class C Note Principal Balance has been paid in full, after making any payments to the Noteholders required pursuant to Sections 4.11(a), (b), (c) and (d), the Issuer shall withdraw from the Spread Account all amounts then remaining in the Spread Account and pay such amounts to the holders of the Transferor Interest.

More Definitions of Note Principal Balance

Note Principal Balance. With respect to a class of Notes and any Distribution Date, the aggregate principal balance of such class of Notes, reduced by all previous payments to the Noteholders of such class in respect of principal of such Notes.

Note Principal Balance means, on any date of determination, an amount equal to the sum of the Class A Note Principal Balance, the Class M Note Principal Balance, the Class B Note Principal Balance, the Class C Note Principal Balance and the Class D Note Principal Balance.

Note Principal Balance means each of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance.

Note Principal Balance for any Payment Date and Class of Notes means (a) the related Original Note Principal Balance less (b) the aggregate of amounts actually distributed as principal on the Class of Notes before the Payment Date.

Note Principal Balance of a Note as of any date of determination is equal to the initial Note Principal Balance thereof, reduced by the aggregate of all amounts previously paid with respect to such Note on account of principal and the aggregate amount of cumulative Realized Losses allocated to such Note on all prior Payment Dates. The principal of, and interest on, this Note are due and payable as described in the Indenture, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be equal to this Notes's pro rata share of the aggregate payments on all Class M-[_] Notes as described above, and shall be applied as between interest and principal as provided in the Indenture. All principal and interest accrued on the Notes, if not previously paid, will become finally due and payable at the Final Scheduled Payment Date. The Notes are subject to redemption in whole, but not in part, by the Majority Certificateholder on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 25% of aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date and (ii) the Payment Date in ______ 20__. The Issuer shall not be liable upon the indebtedness evidenced by the Notes except to the extent of amounts available from the Trust Estate which constitutes security for the payment of the Notes. The assets included in the Trust Estate will be the sole source of payments on the Class M-[_] Notes, and each Holder hereof, by its acceptance of this Note, agrees that (i) such Note will be limited in right of payment to amounts available from the Trust Estate as provided in the Indenture and (ii) such Holder shall have no recourse to the Issuer, the Owner Trustee, the Indenture Trustee, the Seller, the Depositor, the Master Servicer or any of their respective affiliates, or to the assets of any of the foregoing entities, except the assets of the Issuer pledged to secure the Class M-[_] Notes pursuant to the Indenture and the rights conveyed to the Issuer under the Indenture.

Note Principal Balance. With respect to any Note, the initial Note Principal Balance thereof minus all amounts distributed in respect of principal with respect to such Note.

Note Principal Balance means (i) on the 2023-3 Closing Date, $1,075,760,000, and (ii) on any other date, an amount equal to the excess, if any, of (a) the Note Principal Balance on the 2023-3 Closing Date, over (b) the aggregate amount of all Noteholders’ Principal Distributable Amounts and other payments of principal in respect of the Notes, in each case, made on Payment Dates pursuant to the Indenture through and including such date.