Principal Addition Amounts definition

Principal Addition Amounts means, on each Reporting Date prior to the service of an Enforcement Notice on which the Cash Administrator determines that a Senior Expenses Deficit would occur on the immediately succeeding Payment Date, the amount of Issuer Pre-Enforcement Available Redemption Receipts (to the extent available) equal to the lesser of:
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Principal Addition Amounts has the meaning given to it in Clause 6.11.3; "Principal Amount Outstanding" has the meaning in Condition 5(b)(i); "Principal Deficiency Ledger" means the ledger so referred to in Clause 6.1.1; "Principal Determination Date" has the meaning in Condition 5(a); "Principal Ledger" means the ledger so referred to in Clause 6.1.1;
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Principal Addition Amounts has the meaning given to it in Clause 6.11.3;
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Examples of Principal Addition Amounts in a sentence

  • Available Redemption Receipts (if any) may only be redirected as Principal Addition Amounts in respect of a Senior Expenses Deficit.

  • The Issuer (or Issuer Administrator on its behalf) is required to maintain a Principal Deficiency Ledger in which Realised Losses and Principal Addition Amounts are administered.

  • However, such risks are partially mitigated by (a) the Swap Transaction entered into pursuant to the Swap Agreement, (b) the General Reserve Fund, (c) the Liquidity Reserve Fund, (d) subordination of certain junior classes of Notes and (d) the application of Available Redemption Receipts as Principal Addition Amounts in relation to the Class A and Class B Notes only.

  • Available Principal Receipts (if any) may only be redirected as Principal Addition Amounts in respect of a Senior Expenses Deficit.

  • The risk of late payment by Obligors is in part mitigated by the Cash Reserve Account Release Amount (subject to the limitations set out in Condition 8.9 (Senior Expenses Deficit) of the Conditions), in the case of the Collateralised Notes, the use of the Principal Addition Amounts (subject to the limitations set out in Condition 8.9 (Senior Expenses Deficit) of the Conditions) and, in the case of all the Collateralised Notes, any excess spread applied through the Principal Deficiency Ledger.

  • To the extent that there is a Revenue Shortfall, the Cash Manager on behalf of the Issuer shall, on the relevant Interest Payment Date, apply Available Principal Receipts as Available Revenue Receipts in accordance with the Pre-Enforcement Revenue Priority of Payments (the Principal Addition Amounts).

  • Pro rata and pari passu to the interest due and payable on the Class A1 Notes to the extent the aggregate of all other Available Revenue Receipts, any Principal Addition Amounts, any Class A1 Liquidity Drawings and (on and from the Class A1 Liquidity Facility Replacement Date) any Class A1 Liquidity Reserve Fund Actual Amounts are insufficient; 5.

  • Available Principal Receipts shall only be applied to provide for any such Revenue Shortfall in respect of items (h), (j), (l) and (n) of the Pre-Enforcement Revenue Priority of Payments if the relevant PDL Condition applies Any Available Principal Receipts applied as Principal Addition Amounts will be recorded as a debit on the Principal Deficiency Ledger (as further described below).

  • On each Notes Calculation Date, the Cash Manager will calculate whether the Available Revenue Funds (excluding any Principal Addition Amounts to cure any PAA Deficit on such Notes Payment Date) (the “Actual Available Revenue Funds”) will be sufficient topay (a) items (a) to (e) of the Pre-Enforcement Revenue Priority of Payments plus (b) items (f)(i) and (f)(ii) of the Pre-Enforcement Revenue Priority of Payments multiplied by (100/95) (the “Senior Interest Amounts”).

  • Any Realised Losses (as calculated by the Servicer and included in the Servicer Report) and Principal Addition Amounts (as calculated by the Cash Administrator) will be allocated to the Notes and recorded as a debit to the relevant Principal Deficiency Ledger.


More Definitions of Principal Addition Amounts

Principal Addition Amounts has the meaning given to it in Paragraph 7.2 (Use of Available Redemption Receipts to pay Senior Expenses Deficit) of Schedule 2 (Cash Management and Maintenance of Ledgers) of the Cash Management Agreement;
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Principal Addition Amounts means, on each Determination Date, if the Management Company determines that a Senior Expenses Deficit would occur on the immediately succeeding Payment Date, the amount of Principal Available Funds available for application pursuant to item one (1) of the Pre-Enforcement Principal Priority of Payments to pay items one (1) to five (5) of the Pre- Enforcement Interest Priority of Payments, or if the Regulatory Call Priority of Payments has been applied upon the exercise by the Seller of a Partial Redemption Regulatory Call, items one (1) to three (3) of the Seller Loan Interest Priority of Payments, as calculated by the Management Company.
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Principal Addition Amounts has the meaning given to it in Paragraph 7.2 of Schedule 2 (Cash Management and Maintenance of Ledgers) of the Cash Management Agreement;
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Related to Principal Addition Amounts

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.