Principal Allocation Formula definition

Principal Allocation Formula means, with respect to a prepayment of the Loans as specifically set forth herein, to each of the Revolving Loans and Term Loans in accordance with their respective Principal Sharing Percentages (determined immediately prior to the application provided for in this definition); provided, in each case, that if the Principal Allocation Formula would result in the allocation of a payment of principal to the Revolving Loans in excess of the aggregate outstanding principal amount thereof, then the amount of such excess shall be deposited into the Collection Account.

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Principal Allocation Formula means (as calculated by the Collateral Agent):

Principal Allocation Formula means, with respect to any applicable prepayment of the Loans:

Examples of Principal Allocation Formula in a sentence

Any prepayments of Loans made pursuant to this Section 2.5(b) shall (y) be allocated between the Revolving Loans and the Term Loans based on, with respect to principal, the Principal Allocation Formula, and with respect to interest and any other payments on a pro rata basis and (x) result in the reduction and termination, of the Revolving Commitments and Term Commitments on a dollar-for-dollar basis.
For the avoidance of doubt, after the Reinvestment Period, (i) any principal prepayments of the Loans shall be allocated between the Class A-R Loans, the Class A-D1 Loans, the Class A-D2 Loans, the Class A-D3 Loans, the Class A-D4 Loans and the Class A-T Loans based on the Principal Allocation Formula and (ii) any amounts so prepaid on the Loans may not be reborrowed.
Principal on the Class A Debt, other than in the case of a Class A-R Prepayment, shall be repaid in accordance with the Class A Principal Allocation Formula and the Class A-R Commitments shall be reduced by the Class A-R Commitment Reduction Amount.
In addition, the Trustee will deposit funds in the Revolver Funding Account upon the receipt by the Issuer of any Principal Proceeds with respect to a Revolving Collateral Obligation to the extent not used to prepay the Class A Debt as provided under the Class A Principal Allocation Formula or Section 3.4(b).
For the avoidance of doubt, after the Reinvestment Period, (i) any principal prepayments of the Loans shall be allocated between the Class A-R Loans, the Class A-D1 Loans, the Class A-D2 Loans and the Class A-T Loans based on the Principal Allocation Formula and (ii) any amounts so prepaid on the Loans may not be reborrowed.

More Definitions of Principal Allocation Formula

Principal Allocation Formula means: (a) prior to the end of the Reinvestment Period, with respect to a prepayment of the Loans as specifically set forth herein: first, to the Revolving Loans in an amount equal to the excess, if any, of (x) the Portfolio Exposure Amount on such Quarterly Payment Date (or other applicable date of payment) over (y) the aggregate Undrawn Commitments in respect of the Revolving Loans on such Quarterly Payment Date (or other applicable date of payment), and second, to each of the Revolving Loans and Term Loans in accordance with their respective Principal Sharing Percentages (determined immediately prior to the application provided for in this clause second); and (b) on the last day of the Reinvestment Period and after the end of the Reinvestment Period, with respect to a prepayment of the Loans as specifically set forth herein, to

Principal Allocation Formula means, with respect to any prepayment of the Loans on a Payment Date pursuant to Section 9.1(a)(i) and Section 9.1(a)(ii): first, to the Class A-R Loans in an amount equal to the excess, if any, of (x) the Net Aggregate Exposure Amount on such Payment Date over (y) the difference between the Total Class A-R Commitment and the aggregate principal amount of the Revolving Loans outstanding on such Payment Date; second, if the Principal Sharing Percentage of the Class A-T Loans on such Payment Date (determined immediately prior to the application provided for in this clause second) is higher than the Principal Sharing Percentage calculated on the Closing Date, then to the Class A-T Loans until the Principal Sharing Percentage of the Class A-T Loans on such date (determined immediately after giving effect to the application provided for in this clause second) equals the Principal Sharing Percentage calculated on the Closing Date; and third, to each of the Class A-R Loans and Class A-T Loans in accordance with their respective Principal Sharing Percentages (determined immediately prior to the application provided for in this clause third); provided, that in each case, that if the Principal Allocation Formula would result in the allocation of a payment of principal to the Class A-R Loans in excess of the aggregate outstanding principal amount thereof, then the amount of such excess shall be deposited into the applicable Future Funding Reserve Account.