Examples of Note Principal Distributable Amount in a sentence
Notwithstanding the foregoing, if the principal amount of either the Class A-1 Notes or Class A-2 Notes has not been paid in full prior to its related Note Final Distribution Date, the Note Principal Distributable Amount for such Note Final Distribution Date will be the unpaid principal amount of such Class of Notes as of such Note Final Distribution Date.
On each Distribution Date, the Note Principal Distributable Amount will be applied in the following priority: first to reduce the principal amount of the Class A-1 Notes to zero, and thereafter, to reduce the principal amount of the Class A-2 Notes to zero.
Principal of the Notes will be payable on each Distribution Date in an amount generally equal to the Note Principal Distributable Amount (as hereinafter defined) for such Distribution Date.
The "NOTE PRINCIPAL CARRYOVER SHORTFALL" means, as of the close of any Distribution Date, the excess of the Note Principal Distributable Amount for such Distribution Date over the amount in respect of principal that is actually deposited in the Note Distribution Account on such Distribution Date.
The Accelerated Principal Distributable Amount shall only be included in the Note Principal Distributable Amount until all of the Notes have been paid in full, and shall not be included in the Certificate Principal Distributable Amount at any time.