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