Principal Distribution means, in relation to the Mortgages Trust, any distribution by the Mortgages Trustee to any Beneficiary pursuant to Clause 11 (Distribution of Principal Receipts) or Clause 6.3 (Special Distribution) of the Mortgages Trust Deed;

Principal Distribution means, with respect to any Distribution Date, the Aggregate Scheduled Balance Decline during the related Collection Period; provided that the Principal Distribution on the Final Distribution Date will include the Aggregate Scheduled Balance of all Contracts that are Outstanding at the end of the Collection Period immediately prior to the Final Distribution Date.

Principal Distribution. With respect to any Distribution Date (other than the Final Distribution Date) and each Class of Notes, the excess of (A) the Monthly Principal Distributable Amount for such Distribution Date and such Class of Notes over (B) the related O/C Reduction Amount for such Distribution Date and such Class of Notes; provided, however, that the Principal Distribution shall not exceed the Note Principal Balance of such Class. The "Principal Distribution" on the Final Distribution Date for a Class of Notes will equal the Note Principal Balance of such Class as of such Distribution Date.

Examples of Principal Distribution in a sentence

Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for purposes of all future calculations of Class Factors.
During each calendar month, distributions in reduction of the Certificate Balances of the Trust Fund Certificates shall be made in an amount equal to the Principal Distribution Amount and shall be distributed in the amounts and in the priorities specified in the Prospectus Supplement.
All distributions of such Principal Distribution Amount which are made with respect to a particular Class of Trust Fund Certificates shall be made pro rata among all Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind.
Any Excess Spread to the extent necessary to meet a level of overcollateralization equal to the Overcollateralization Target Amount will be the Extra Principal Distribution Amount and will be included as part of the Principal Distribution Amount.
As and to the extent provided in clause (II)(A) of the definition thereof, the Principal Distribution Amount for the Distribution Date related to such Collection Period shall be reduced to the extent that such payment or reimbursement of a Workout-Delayed Reimbursement Amount is made from aggregate principal collections pursuant to the preceding sentence.

More Definitions of Principal Distribution

Principal Distribution. Amount With respect to any Distribution Date and any Group, the sum of (a) the Basic Principal Distribution Amount for that Group for that Distribution Date and (b) the product of the Extra Principal Distribution Amount for that Distribution Date and the Allocation Percentage for that Group for that Distribution Date. Principal Prepayment Any payment of principal by a Mortgagor on a Loan that is received in advance of its scheduled Due Date and is not accompanied by an amount representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment. Partial Principal Prepayments shall be applied by the Servicer in accordance with the terms of the related Mortgage Note.

Principal Distribution on the Final Distribution Date for a Class of Notes will equal the Note Principal Balance of such Class as of such Distribution Date.

Principal Distribution. Amount: $ 6,508,646.10 ---------------

Principal Distribution on the Final Scheduled Distribution Date will equal the Aggregate Class A Principal Balance as of such Distribution Date.

Principal Distribution means, in relation to the Mortgages Trust, any distribution by the Mortgages Trustee to any Beneficiary pursuant to Clause 11 (DISTRIBUTION OF PRINCIPAL RECEIPTS) or Clause 6.3 (SPECIAL DISTRIBUTION) of the Mortgages Trust Deed;

Principal Distribution. Amount, the Class M-II-2 Principal Distribution Amount and the Class M-II-3 Principal Distribution Amount; and