Principal Investor Percentage means, with respect to any date of determination during any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Principal Allocation Investor Interest for such date and the denominator of which is the greater of (a) the aggregate amount of Principal Receivables in the Trust determined as of the close of business on the last day of the prior Monthly Period (or with respect to the first calendar month in the first Monthly Period, the aggregate amount of Principal Receivables in the Trust determined as of the close of business on the day preceding the Closing Date and with respect to the second calendar month in the first Monthly Period, the aggregate amount of Principal Receivables in the Trust as of the close of business on the last day of the first calendar month in the first Monthly Period), and (b) the sum of the numerators used to calculate the Investor Percentages (as such term is defined in the Agreement) for allocations with respect to Principal Receivables for all outstanding Series on such date of determination; provided, however, that with respect to any Monthly Period in which an Allocation Reset Date occurs, the denominator determined pursuant to clause (a) hereof shall be, on and after such date, the aggregate amount of Principal Receivables in the Trust as of the beginning of the day on the most recently occurring Allocation Reset Date (after adjusting for the aggregate amount of Principal Receivables, if any, added to or removed from the Trust on such Allocation Reset Date).
Principal Investor Percentage means, for any date of determination, a percentage based on a fraction, the numerator of which is the aggregate Principal Allocation Amounts for such date and the denominator of which is the greater of (a) the total principal receivables in master trust II at the end of the prior month and (b) the sum of the Investor Interests at the end of the prior month for all outstanding master trust II series of investor certificates on such date of determination. However, this Principal Investor Percentage will be adjusted for certain Investor Interest increases, as well as additions and certain removals of accounts, during the related month. In calculating the Principal Investor Percentage, the Investor Interest is the sum of (i) for each tranche of notes which is not accumulating or paying principal, the Investor Interest at the end of the prior month and (ii) for each tranche of notes which is accumulating or paying principal, the Investor Interest prior to any reductions for accumulations or payments of principal.
Principal Investor Percentage means with respect to any date of determination during any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction:
Examples of Principal Investor Percentage in a sentence
The Principal Investor Percentage with respect to the Monthly Period.
More Definitions of Principal Investor Percentage
Principal Investor Percentage means, with respect to any date of determination during any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Principal Allocation Amount with respect to the WFCardSeries for such date and the denominator of which is the greater of (a) the aggregate amount of Principal Receivables determined as of the close of business on the last day of the prior Monthly Period (or, with respect to the first Monthly Period, the aggregate amount of Principal Receivables determined as of the close of business on the day preceding the Closing Date), and (b) the sum of the numerators used to calculate the Investor Percentages (as such term is defined in the Indenture) for allocations with respect to Principal Receivables for all outstanding Series on such date of determination; provided, however, that with respect to any Monthly Period in which an Allocation Reset Date occurs, the denominator determined pursuant to clause (a) hereof shall be, on and after such date, the aggregate amount of Principal Receivables as of the beginning of the day on such (after adjusting for the aggregate amount of Principal Receivables, if any, added to or removed on such Allocation Reset Date).
Principal Investor Percentage means, with respect to any ----------------------------- Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Principal Allocation Investor Interest as of the close of business on the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Principal Allocation Investor Interest on the close of business on the Closing Date) and the denominator of which is the greater of (a) the aggregate amount of Principal Receivables in the Trust determined as of the close of business on the last day of the prior Monthly Period (or with respect to the first calendar month in the first Monthly Period, the aggregate amount of Principal Receivables in the Trust determined as of the close of business on the day preceding the Closing Date and with respect to the second calendar month in the first Monthly Period, the aggregate amount of Principal Receivables as of the close of business on the last day of the first calendar month in the first Monthly Period), and (b) the sum of the numerators used to calculate the Investor Percentages (as such term is defined in the Agreement) for allocations with respect to Principal Receivables for all outstanding Series on such date of determination; provided, however, that with -------- ------- respect to any Monthly Period in which the Investor Interest is increased on an Allocation Reset Date as described in clause (a) of the definition thereof, the numerator above, on and after the date of such increase, shall be the sum of the Principal Allocation Investor Interest as of the close of business on the last day of the preceding Monthly Period, the amount of such increase in the Investor Interest on such Allocation Reset Date and the amount of any other increases in the Investor Interest on any prior Allocation Reset Date occurring in such Monthly Period; provided further, however, that with respect to any Monthly -------- ------- ------- Period in which an Allocation Reset Date occurs, the denominator determined pursuant to clause (a) hereof shall be, on and after such date, the aggregate amount of Principal Receivables in the Trust as of the beginning of the day on the most recently such occurring Allocation Reset Date (after adjusting for the aggregate amount of Principal Receivables, if any, added to or removed from the Trust on such Allocation Reset Date).