Principal Deficiency Ledgers definition

Principal Deficiency Ledgers means each of the Class A Principal Deficiency Ledger and the Class Z VFN Principal Deficiency ▇▇▇▇▇▇ maintained by the Cash Manager on behalf of the Issuer which records on it all deficiencies arising from Losses on the Portfolio. The Principal Deficiency Ledger will record as a debit deficiencies arising from Losses on the Portfolio and corresponding drawings from the Liquidity Reserve Fund (if established) and Principal Receipts used to pay a Revenue Deficiency and record as a credit Available Revenue Receipts applied pursuant to paragraphs (7) and
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Principal Deficiency Ledgers means the Class A Principal Deficiency Ledger, the Class M1 Principal Deficiency Ledger, the Class M2 Principal Deficiency Ledger and the Class B Principal Deficiency Ledger;
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Principal Deficiency Ledgers means all of them;
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Examples of Principal Deficiency Ledgers in a sentence

  • The Principal Deficiency Ledgers will record as a credit Available Revenue Receipts applied pursuant to items (g) and (i) of the Pre-Acceleration Revenue Priority of Payments (if any) (which amounts shall, for the avoidance of doubt, thereupon become Available Principal Receipts).

  • The Principal Deficiency Ledgers will record as a credit Available Revenue Receipts applied pursuant to paragraphs (g) and (i) of the Pre-Acceleration Revenue Priority of Payments (if any) (which amounts shall, for the avoidance of doubt, thereupon become Available Principal Receipts).

  • Shared issuer revenue receipts will be reallocated by the Cash Manager and distributed among the Issuers as payments of interest and fees under the applicable Intercompany Loans to the extent required to make payments of interest due on the Notes, to credit the related Issuer Principal Deficiency Ledgers and to pay other costs, expenses and third party amounts payable by the Issuers under the relevant Issuer Priority of Payments (but excluding principal payable under any Intercompany Loan).

  • Any debit balance recorded on the respective Principal Deficiency Ledgers shall be a Class A Principal Deficiency and a Class B Principal Deficiency, each a Principal Deficiency, as applicable and as the context requires.

  • Principal deficiency ledgers will be established on behalf of the Issuer by the Administrator in respect of the Class A Notes (Class A Principal Deficiency Ledger), and the Class B Notes (Class B Principal Deficiency Ledger, and together with the Class A Principal Deficiency Ledger, the Principal Deficiency Ledgers) in order to record any Realised Losses incurred on the SME Receivables.

  • The Principal Deficiency Ledgers will rec ord as a credit Available Revenue Receipts applied pursuant to paragraphs (g) and (i) of the Pre-Acceleration Revenue Priority of Payments (if any) (which amounts shall, for the avoidanc e of doubt, thereupon become Available Principal Receipts).

Related to Principal Deficiency Ledgers

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Deficiency Balance means, with respect to any Receivable, any deficiency balance, charged-off amount, Principal Balance, accrued interest and/or fees and any Related Security; provided, that such amounts and Related Security relate to a Receivable which is a Defaulted Receivable.

  • Class C Deficiency Amount is defined in Section 4.1(c).