Principal Payment Event definition

Principal Payment Event if applicable, shall mean the delivery by the Servicer of a notice to the Trustee of its election not to extend the Initial Principal Payment Date in accordance with Section 7.03.
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Principal Payment Event means, after June 9, 2007, as of the end of each calendar quarter, if the Underwritable Cash Flow for the twelve (12) calendar month period immediately preceding the date of calculation shall be less than $4,000,000.00.
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Examples of Principal Payment Event in a sentence

  • No principal will be payable to the Class A Securityholders until the earlier of the Scheduled Final Payment Date and, upon the occurrence of a Pay Out Event or Principal Payment Event, the Distribution Date following the Monthly Period in which the Pay Out Event or Principal Payment Event occurs.

  • No principal will be payable to the Class B Securityholders (other than with respect to Class B Excess Amounts) until the earlier of the Scheduled Final Payment Date and, upon the occurrence of a Pay Out Event or Principal Payment Event, the Distribution Date following the Monthly Period in which the Pay Out Event or Principal Payment Event occurs but in no event earlier than the Distribution Date either on or following the Distribution Date on which Class A Invested Amount has been paid in full.

Related to Principal Payment Event

  • Payment Event means any of the following:

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Principal Payment Amount For any Distribution Date, an amount equal to the related Principal Remittance Amount for such date minus the related Overcollateralization Release Amount, if any, for such date.

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • Senior Principal Payment Amount For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 57.60% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Initial Cut-off Date (including amounts in the Prefunding Account as of the Closing Date).

  • Principal Payment Dates means unless otherwise determined by the Fiscal Officer in the Certificate of Award, December 1 in the years from and including 2020 to and including 2035, provided that in no case shall the latest Principal Payment Date be later than the maximum maturity of the Bonds referred to in the preambles hereto.

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Expected Principal Payment Date means April 15, 2010.

  • Principal Payments means all payments of principal made pursuant to the terms of the Note.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Potential Adjustment Event means any of the following:

  • Put Event means the occurrence of any of the following:

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Asset Sale Prepayment Event shall not include any transaction permitted by Section 10.4 (other than transactions permitted by Section 10.4(b) and Section 10.4(o), which shall constitute Asset Sale Prepayment Events).

  • Change of Control Redemption Premium means 125%.

  • Adjustment Event means each of the following events:

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Change of Control Redemption Price shall have the meaning set forth in Section 7.3;

  • Change of Control Payment Date has the meaning provided in Section 4.15.

  • Early Amortization Event means the occurrence of any of the following:

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Change of Control Redemption Date shall have the meaning set forth in Section 7.2;