Optimal Principal Amount definition

Optimal Principal Amount. An amount equal to (A) on any Payment Date (i) on or prior to the Target Overcollateralization Date or (ii) after the Target Overcollateralization Date and on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Payment Date after the Target Overcollateralization Date on which there does not exist an uncured Trigger Event, the amount which, when paid as principal on the Notes, will result in achieving or maintaining the Target Overcollateralization Level; provided that in no event will the Optimal Principal Amount for any Payment Date exceed the Remaining Available Funds for such Payment Date or the Aggregate Outstanding Principal Balance of the Notes.

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Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amounts of the Subordinate Certificates of the relevant Certificate Group immediately prior to such Distribution Date):

Optimal Principal Amount. An amount equal to (A) on any Payment Date on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Payment Date on which there does not exist an uncured Trigger Event, the amount which, when paid as principal on the Notes, will result in an Overcollateralization Amount equal to the Target Overcollateralization Level; provided that in no event will the Optimal Principal Amount for any Payment Date exceed the Remaining Available Funds for such Payment Date or the Aggregate Outstanding Principal Amount.

Examples of Optimal Principal Amount in a sentence

As to any Distribution Date and amounts distributable pursuant to clauses (i) and (iii) of the definition of Junior Optimal Principal Amount, and as to each Class of Junior Certificates, the fraction, expressed as a percentage, the numerator of which is the Class Certificate Principal Balance of such Class and the denominator of which is the aggregate Class Certificate Principal Balance of the Junior Certificates.
Each Class of Subordinate Certificates that received a full pro rata share as described above shall be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).
For any Distribution Date and with respect to each Class of Subordinate Certificates, the portion of the Aggregate Subordinate Optimal Principal Amount allocable to such Class, equal to the product of the Aggregate Subordinate Optimal Principal Amount on such Distribution Date and a fraction, the numerator of which is the related Class Principal Balance thereof and the denominator of which is the aggregate of the Class Principal Balances of the Subordinate Certificates.
The Trustee shall notify the Depository as to which requests should be honored on each Distribution Date at least two Business Days prior to such Distribution Date and shall notify the Depository as to the portion of the Senior Optimal Principal Amount (together with any amounts available for distribution from the applicable Rounding Account) to be distributed to the Special Retail Certificates by mandatory distribution pursuant to Section 4.06(d).
Each Class of Junior Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Junior Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Junior Certificates that received a full pro rata share).
Each Class of Subordinate Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (5) and (6) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).
The Trust Administrator shall notify the Depository as to which requests should be honored on each Distribution Date at least two Business Days prior to such Distribution Date and shall notify the Depository as to the portion of the Senior Optimal Principal Amount (together with any amounts available for distribution from the applicable Rounding Account) to be distributed to the Special Retail Certificates by mandatory distribution pursuant to Section 4.06(d).
Any Net Interest Shortfalls shall be allocated to the Class 3-A-5 Certificates as provided in Section 6.01(e); and SECOND, to the Class 3-A-5 Certificates, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Sub-Group 3B Available Funds, and THIRD, the Sub-Group 3B Senior P&I Optimal Principal Amount to the Class 3-A-5 Certificates, until the Current Principal Amount thereof has been reduced zero.
As to any Distribution Date and amounts distributable pursuant to clauses (i) and (iii) of the Junior Optimal Principal Amount, and as to each Class of Junior Certificates, the fraction, expressed as a percentage, the numerator of which is the Class Certificate Principal Balance of such Class and the denominator of which is the aggregate Class Certificate Principal Balances of the Junior Certificates.
The Class 2-A-11 Optimal Principal Amount for any Distribution Date occurring after the first five years following the Closing Date will be as follows: for any Distribution Date during the sixth, seventh, eighth and ninth years after the Closing Date, 30%, 40%, 60% and 80%, respectively, of the Class 2-A-11 Pro Rata Optimal Principal Amount for such Distribution Date; and, for any Distribution Date thereafter, 100% of the Class 2-A-11 Pro Rata Optimal Principal Amount for such Distribution Date.

More Definitions of Optimal Principal Amount

Optimal Principal Amount. With respect to any Distribution Date, an amount equal to the Total Loan Balance as of the immediately preceding Determination Date MINUS the Targeted Overcollateralization Amount for such Distribution Date.]

Optimal Principal Amount. An amount equal to (A) on any Distribution Date (i) on or prior to the Target Overcollateralization Date or (ii) after the Target Overcollateralization Date and on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Distribution Date after the Target Overcollateralization Date

Optimal Principal Amount and "Class P Certificate Principal Distribution Amount" on such Distribution Date;

Optimal Principal Amount means, with respect to any Payment Date, an amount equal to the sum of the following, without duplication: