Principal Ledger definition

Principal Ledger means the ledger of such name maintained by the Cash Manager pursuant to and in accordance with the Cash Management Agreement;

Principal Ledger means the ledger maintained by the Cash Manager in the name of the Mortgages Trustee pursuant to the Cash Management Agreement to record any Mortgages Trustee Retained Principal Receipts plus the Principal Receipts on the Mortgage Loans and distributions of such Principal Receipts to the Seller and Funding on each Distribution Date;

Principal Ledger has the meaning ascribed to it in Clause 6 of the Administration Agreement.

Examples of Principal Ledger in a sentence

• If the Cash Manager determines that there will be a Revenue Deficiency and to the extent that there are insufficient monies standing to the credit of the Liquidity Reserve Fund (if established), then the Cash Manager on behalf of the Issuer will pay or provide for that Revenue Deficiency by the application of amounts standing to the credit of the Principal Ledger.

• If the Issuer has insufficient revenue funds to make the repayment, such an amount may be repaid by applying funds standing to the credit of the Principal Ledger.

• Any credit balance on the Interest Shortfall Ledger after an Interest Payment Date will be transferred and credited to the Principal Ledger.

• The allocation of funds standing to the credit of the Transaction Account will be recorded in various ledgers, including the Principal Ledger and the Revenue Ledger, maintained by the Administrator in the Issuer’s book-keeping records.

• Any outstanding balance in the Pre-Funding Reserve Ledger as at the first Principal Determination Date (taking into account any debits made on that ledger on such date) will be credited on that Principal Determination Date to the Principal Ledger and will be taken into account when determining the Available Redemption Funds in respect of the first Interest Payment Date.

More Definitions of Principal Ledger

Principal Ledger means the ledger maintained by the Cash Manager in the name of the Mortgages Trustee pursuant to the Cash Management Agreement to record the Principal Receipts on the Mortgage Loans and distributions of such Principal Receipts to the Seller and Funding on each Distribution Date;

Principal Ledger means the ledger so referred to in Clause 6.1.1;

Principal Ledger means the ledger so referred to in sub-clause 6.2.1;

Principal Ledger means the ledger of such name maintained by the Cash Manager, pursuant to the Cash Management Agreement and CLAUSE 14 of the Mortgages Trust Deed to record the Principal Receipts on the Loans and distributions of such Principal Receipts to the Beneficiaries;

Principal Ledger means a ledger in the Transaction Account to record Available Redemption Funds.

Principal Ledger means a ledger in the Transaction Account to record Available Redemption Funds. “Retained Principal Ledger” means a ledger in the Transaction Account and credited with amounts upto a maximum aggregate of €10,000,000. Priority of Payments Post-Enforcement On and after enforcement of the Security, the Trustee is required, subject to being indemnified and/or secured to its satisfaction, to apply moneys available for distribution in or towards the satisfaction of the following amounts in the following order or priority (and so that no payment or provision shall be made until all payments or provisions ranking above shall have been paid or provided for in full):

Principal Ledger means the ledger in the books of the Issuer so named and maintained by the Cash Manager on behalf of the Issuer;