Principal Deficiency Ledger definition

Principal Deficiency Ledger means, in relation to any Issuer, the ledger of such name maintained by the Issuer Cash Manager pursuant to the Issuer Cash Management Agreement, comprising such sub-ledgers as relate to the classes of Notes of differing ratings issued by such Issuer as contemplated in the relevant Issuer Cash Management Agreement;

Principal Deficiency Ledger means the Issuer Principal Deficiency Ledger of such name maintained for the Current Issuer by the Cash Manager pursuant to the Current Issuer Cash Management Agreement.

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;

Examples of Principal Deficiency Ledger in a sentence

• In the case of the Current Issuer Principal Deficiency Ledger and each Current Issuer Principal Deficiency Sub Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

• If, on any Notes Payment Date, there is a balance on the Class B Principal Deficiency Ledger, then notwithstanding any other provisions of these Conditions, the principal amount payable on redemption of each Class B Note on such Notes Payment Date shall not exceed its Principal Amount Outstanding less the Class B Principal Shortfall on such Notes Payment Date.

• In the case of the Funding Principal Deficiency Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

• If, on any Notes Calculation Date, there is a balance on the Class B Principal Deficiency Ledger, then notwithstanding any other provisions of these Conditions, the principal amount payable on redemption of each Class B Note on the immediately succeeding Notes Payment Date shall not exceed its Principal Amount Outstanding less the Class B Principal Shortfall on such Notes Payment Date.

• Except in the case of the Current Issuer Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Current Issuer Ledgers, and the corresponding payment or transfer (if any) may only be made from the Current Issuer Transaction Accounts, to the extent that such entry does not cause the relevant ledger to have a debit balance.

More Definitions of Principal Deficiency Ledger

Principal Deficiency Ledger means the Class A Principal Deficiency Sub-Ledger and the Class Z Principal Deficiency Sub-Ledger (each a Principal Deficiency Sub-Ledger), maintained by the Cash Manager on behalf of the Issuer;

Principal Deficiency Ledger means the ledger maintained by the Calculation Agent, on which any Principal Deficiency shall be recorded on each Payment Date.

Principal Deficiency Ledger means the principal deficiency ledger held by the Computation Agent (a) to which on each Calculation Date will be registered as a credit balance the amount, if any, by which the Principal Amortisation Amount calculated with reference to the immediately succeeding Payment Date exceeds the Issuer Available Funds available for the payment, on such Payment Date, of items (seventh) or as the case may be of items (eighth) and (fifteenth) of the Pre-Acceleration Order of Priority and (b) on which on each Payment Date will be registered as a debit balance the amount of any payment made on such Payment Date pursuant to letter (e) of the definition of Principal Amortisation Amount.

Principal Deficiency Ledger means the ledger established and maintained by the Computation Agent in respect of the Rated Notes pursuant to the Agency and Accounts Agreement where any Principal Losses will be recorded, as a debit entry in accordance with Condition 3(h) (Principal Deficiency Ledger).

Principal Deficiency Ledger means the ledger in the books of the Issuer so named; “Principal Ledger” means the ledger in the books of the Issuer so named;

Principal Deficiency Ledger means the ledger maintained by the Calculation Agent, which shall be established by or on behalf of the Issuer in order to record, inter alia, any Defaulted Receivable, any Principal Instalment unpaid under any Delinquent Receivable and, in the case of the first Quarterly Collection Period only, the amounts not collected by the Servicer in respect of the Receivables on account of Accrued Interest, in accordance with the provisions of the Intercreditor Agreement and the Cash Allocation, Management and Payments Agreement.

Principal Deficiency Ledger means the ledger so referred to in sub-clause 6.2.2;