Principal Prepayments definition

Principal Prepayments shall have the meaning set forth in Section 2.07(a) of this Credit Agreement.

Principal Prepayments means, as described in Section 9.1 hereof, the prepayments of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and, the Class E Notes and the Class F Notes, as the case may be, to the extent necessary to satisfy (x) the Collateral Coverage Tests in accordance with the Priority of Payments or (y) the Interest Diversion Test in accordance with the Priority of Payments.

Principal Prepayments. Received: Total Interest and Principal Payments Received:

Examples of Principal Prepayments in a sentence

• In the event of such a substitution, accrued interest on the Substitute Mortgage Loan for the month in which the substitution occurs and any Principal Prepayments made thereon during such month shall be the property of the Trust Fund and accrued interest for such month on the Mortgage Loan for which the substitution is made and any Principal Prepayments made thereon during such month shall be the property of the Seller.

• In the event of such a substitution, accrued interest on the substitute Mortgage Loan for the month in which the substitution occurs and any Principal Prepayments made thereon during such month shall be the property of the Trust Fund, and accrued interest for such month on the Mortgage Loan for which the substitution is made and any Principal Prepayments made thereon during such month shall be the property of the Seller.

• The Stated Principal Balance of each Mortgage Loan as of the related Cut-off Date is determined after application of payments of principal due on or before the related Cut-off Date whether or not collected, together with any unscheduled Principal Prepayments collected prior to the related Cut-off Date; provided, however, that Monthly Payments for a Due Date beyond the Cut-off Date shall not be applied to reduce the principal balance.

• Such monthly accounting reports shall include information as to the aggregate Unpaid Principal Balance of all Mortgage Loans, the scheduled amortization of all Mortgage Loans, any delinquencies and the amount of any Principal Prepayments as of the most recently ended Record Date.

• In the event of such a substitution, accrued interest on the Substitute Mortgage Loan for the month in which the substitution occurs and any Principal Prepayments made thereon during such month shall be the property of the Trust Fund and accrued interest for such month on the Mortgage Loan for which the substitution is made and any Principal Prepayments made thereon during such month shall be the property of the Mortgage Loan Seller.

More Definitions of Principal Prepayments

Principal Prepayments in relation to a Collection Period means all amounts received by or on behalf of the Trustee during that Collection Period under or in respect of the Mortgage Loans then forming part of the Assets of the Series Trust in respect of principal prepayments made by or on behalf of the Borrower in relation to that Mortgage Loan (less reversals made during the period in respect of interest or other charges in relation to any of the accounts where the original debit entry (or part thereof) was in error) to the extent that the amount exceeds the then scheduled monthly instalment of principal that would be payable under that Mortgage Loan (including previous unpaid instalments of principal) during that Collection Period.

Principal Prepayments of the outstanding balance of principal owing under the Credit Facility during each calendar month. Each such Principal Prepayment shall be in a minimum amount of Five Hundred Thousand Dollars ($500,000.00) and in increments of One Hundred Thousand Dollars ($100,000.00).

Principal Prepayments means the sum of: (i) the aggregate amount of principal payments received by or on behalf of the Issuer in respect of the Issuer Loans as a result of any prepayment in part or in full made by the Borrowers under the Originated Loans pursuant to the terms of the relevant Loan Agreements; (ii) the aggregate amount of payments in respect of principal received by or on behalf of the Issuer as a result of a repurchase/purchase of an Originated Loan or an Issuer Loan; and (iii) all insurance proceeds relating to principal received by or on behalf of the Issuer under the Issuer Loans (directly or indirectly) other than those required to be paid to the relevant Borrower or used to reinstate the related Property pursuant to the terms of the related Loan Documentation, the related insurance policies or any other relevant instrument.

Principal Prepayments means any amounts received by the Trustee representing a redemption of the Local Agency Bonds pursuant to Section 13 of the Reassessment Bond Resolution, consisting of the principal amount of the Local Agency Bonds being redeemed and the premium, if any, paid upon such redemption; but excluding the amount of any regularly scheduled payments of principal of and interest on the Local Agency Bonds.

Principal Prepayments means, following any failure of any Coverage Test as of any Calculation Date, amounts that would otherwise be used (i) for payments of Income Note Excess Funds, (ii) for the purchase of additional Collateral Debt Securities, (iii) for the payment of certain fees and expenses, (iv) in the case of a failure to satisfy either the Class A/B Interest Coverage Test or the Class A/B Principal Coverage Test, for interest payments on the Class C Notes, the Class D Notes, the Class E Notes and the Class F Notes, (v) in the case of a failure to satisfy either the Class C Interest Coverage Test or the Class C Principal Coverage Test, for interest payments on the Class D Notes, the Class E Notes and the Class F Notes, (vi) in the case of a failure to satisfy either the Class D Interest Coverage Test or the Class D Principal Coverage Test, for interest payments on the Class E Notes and the Class F Notes, (vii) in the case of a failure to satisfy either the Class E Interest Coverage Test or the Class E Principal Coverage Test, for interest payments on the Class F Notes, and (viii) in the case of a failure to satisfy either the Class F Interest Coverage Test or the Class F Principal Coverage Test, for payments of Income Note Excess Funds, that are instead applied on the related Payment Date, in each case to the extent necessary to satisfy such Coverage Test as of the related Calculation Date, to principal payments on each Class of Notes, starting with the most senior Class of Notes then Outstanding, until such Coverage Test is satisfied as of the related Calculation Date or the Notes are paid in full.

Principal Prepayments means any payment of principal or other recovery of principal (whether in the form of Liquidation Proceeds or otherwise) on a Loan which is received in advance of its scheduled due date and which is not accompanied by an amount of interest representing the full amount of scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

Principal Prepayments of the outstanding balance of principal owing under the Revolving Credit Note more frequently than five (5) such Principal Prepayments during each calendar month. Each such Principal Prepayment of a Base Rate Loan shall be in a minimum amount of One Million Dollars ($1,000,000.00) (or, if less, the outstanding principal amount of Base Rate Loans) and in increments of One Hundred Thousand Dollars ($100,000.00) in excess thereof. Each such Principal Prepayment of a LIBOR Loan shall be in a minimum amount of Five Million Dollars ($5,000,000.00) and in increments of One Million Dollars ($1,000,000.00) in excess thereof; provided, that in no event shall any outstanding LIBOR Loan have a principal balance of less then Five Million Dollars ($5,000,000.00).