Optional Scheduled Principal Payment means, each principal payment with respect to any Series of Notes, or Class, Subclass or Tranche thereof identified as an “Optional Scheduled Principal Payment” in the applicable Series Supplement.
Optional Scheduled Principal Payment means, with respect to any Series or any Class of any Series of Notes, any payment of principal made pursuant to the applicable Series Supplement, to the extent the related Series Non-Amortization Test is satisfied for any Quarterly Payment Date, at the election of the Co-Issuers, in an amount not to exceed the related Scheduled Principal Payment that would otherwise be due on such Quarterly Payment Date if the related Series Non-Amortization Test was not satisfied.
Optional Scheduled Principal Payment means, with respect to any Series or any Class of any Series of Notes, any payment of principal made pursuant to the applicable Series Supplement, to the extent the related Series Non-Amortization Test is satisfied for any Quarterly Payment Date, at the election of the Co-Issuers, in an amount not to exceed the related Scheduled Principal Payment that would otherwise be due on such Quarterly Payment Date if the related Series Non-Amortization Test was not satisfied. “Outstanding” means, with respect to the Notes, as of any time, all of the Notes of any one or more Series, as the case may be, theretofore authenticated and delivered (or registered for Uncertificated Notes) under the Indenture except:
Examples of Optional Scheduled Principal Payment in a sentence
For the avoidance of doubt, any equity contribution to the Issuer or any other Securitization Entity for the purpose of making an Optional Scheduled Principal Payment shall not constitute a Retained Collections Contribution.
Some requirements have changed, as well as the schedule– instead of step by step tightening requirements, now all main requirements would enter into force four years after publishing of the regulation.
More Definitions of Optional Scheduled Principal Payment
Optional Scheduled Principal Payment means, with respect to any Series or any Class of any Series of Notes, any payment of principal made pursuant to the applicable Series Supplement, to the extent the related Series Non-Amortization Test is satisfied for any Quarterly Payment Date, solely at the election of the Issuer upon written notice to each of the Trustee and the Servicer at least three (3) Business Days’ prior to such Quarterly Payment Date (and as set forth in the related Weekly Manager’s Certificate), in an amount not to exceed the related Scheduled Principal Payment that would otherwise be due on such Quarterly Payment Date if the related Series Non-Amortization Test was not satisfied.