Principal Factor definition

Principal Factor means, with respect to the Notes or any Class of Notes on any Payment Date, a nine-digit decimal figure equal to the Note Balance of the Notes or such Class of Notes, as applicable, as of the end of the preceding Collection Period divided by the Note Balance of the Notes or such Class of Notes, as applicable, as of the Closing Date. The Principal Factor will be 1.000000000 as of the Closing Date; thereafter, the Principal Factor will decline to reflect reductions in the Note Balance of the Notes or such Class of Notes, as applicable.

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Principal Factor means, as of any Distribution Date for each Class of Notes, a seven-digit decimal figure equal to the Outstanding Amount of such Class of Notes (after giving effect to any payments of principal made on such Distribution Date) divided by the original Outstanding Amount of such Class. The Principal Factor will be 1.0000000 for each Class of Notes as of the Closing Date; thereafter, the Principal Factor for each Class of Notes will decline to reflect reductions in the outstanding principal balance of such Class.

Principal Factor means 100%. For the avoidance of doubt such interest could be as low as zero and will be dependent upon receipt by the Issuer of amounts from the Swap Counterparty.

Examples of Principal Factor in a sentence

• The Principal Factor will be determined by the Company in good faith and certified to the Trustee 10 days prior to each Interest Payment Date and Stated Maturity, and at any time and from time to time, promptly upon request, in the form of an Officers’ Certificate.

• Interest will be calculated in accordance with the provisions of this Indenture and the Subordinated Notes, and will then be multiplied by the then-applicable Principal Factor.

• The Company’s record of such Principal Factor shall be conclusive and binding on the Holders and the Company shall provide an Officers’ Certificate to the Trustee, 10 days prior to each Interest Payment Date and Stated Maturity, and at any time and from time to time, promptly upon request, certifying as to the amount of the Principal Factor and that such Principal Factor has been established in conformity with this Indenture.

• Any new Subordinated Note issued and authenticated hereunder shall carry the same Principal Factor as its predecessor Subordinated Note.

• Upon request of any Holder of Subordinated Notes, the Company shall provide notice of the then-applicable Principal Factor.

More Definitions of Principal Factor

Principal Factor shall have the meaning given such term in the Terms Supplement.

Principal Factor. As to any Distribution Date, the percentage (carried to seven places, rounded down) obtained by dividing the Class (_) Certificate Balance as of such Distribution Date (after giving effect to all payments of principal made on such Distribution Date) by the Original Class (_) Certificate Balance.

Principal Factor means a seven-digit decimal number which, when multiplied by the initial principal amount of each Note, produces its Outstanding principal balance. The Principal Factor will be 1.0000000 for each such Note as of the Date of Issuance; thereafter, the Principal Factor for each such Note will decline to reflect reductions in the Outstanding principal balance of such Note.

Principal Factor means a seven-digit decimal number which, when multiplied by the initial principal amount of each LIBOR Rate Note, produces its Outstanding principal balance. The Principal Factor will be 1.0000000 for each such Note as of the Date of Issuance; thereafter, the Principal Factor for each such Note will decline to reflect reductions in the Outstanding principal balance of such Note.

Principal Factor as to any Pledged Security and GNMA Distribution Date, the principal factor reported by GNMA with respect to such Pledged Security and such GNMA Distribution Date, which factor reflects the amount receivable as principal by the holders of such Pledged Security on such date.

Principal Factor means 90%. For the avoidance of doubt such principal complement and, if any, interest component could be as low as zero and will be dependent upon receipt by the Issuer of amounts from the Swap Counterparty. In both Case 1 and Case 2, the amount (if any) making up the Final Redemption Amount received by the Issuer from the Swap Counterparty pursuant to the Swap Agreement will be deemed paid first by way of principal (subject to a maximum of 10% of the Specified Denomination of the Notes) on the Notes and secondly by way of interest (if any) on the Notes.

Principal Factor. (a) Class A-1:___________