Principal Reduction Amount. The Class Y Principal Reduction Amount for the Class Y-1 Regular Interest as determined pursuant to the provisions of the Appendix A. Class Y-1 Regular Interest: The uncertificated undivided beneficial interest in REMIC I which constitutes a REMIC I Regular Interest and is entitled to distributions as set forth herein. Class Y-2 Principal Distribution Amount: For any Distribution Date, the excess, if any, of the Class Y-2 Principal Reduction Amount for such Distribution Date over the principal portion of Realized Losses allocated to the Class Y-2 Regular Interest on such Distribution Date.
Principal Reduction Amount. The Class Y Principal Reduction Amount for the Class Y-4 Regular Interest as determined pursuant to the provisions of the Appendix A. Class Y-4 Regular Interest: The uncertificated undivided beneficial interest in REMIC I which constitutes a REMIC I Regular Interest and is entitled to distributions as set forth herein.
Principal Reduction Amount means, where a Cash Settlement Amount (or an Aggregate Cash Settlement Amount) is payable under the CDS Contract by the Issuer to the CDS Counterparty on a Cash Settlement Date, in respect of such Cash Settlement Date and any Note, an amount equal to its pro rata proportion (as between the Notes) of such Cash Settlement Amount (subject to a maximum equal to the outstanding Principal Amount of such Note), as determined by the Calculation Agent.
Examples of Principal Reduction Amount in a sentence
Such amount shall be allocated first to the Class II-LTY and II-LTY2 Regular Interests up to the Class Y-1 Principal Reduction Amount and Class Y-2 Principal Reduction Amount, respectively, and thereafter the remainder shall be allocated to the Class II-LT1 Regular Interest.
ΔY1 = the combined Class II-LT1, II-LTY1 and II-LTY2 Principal Reduction Amount.
ΔY2 = the REMIC I Regular Interest LT2 Principal Reduction Amount.
ΔY3 = the REMIC I Regular Interest LT3 Principal Reduction Amount.
ΔY1 = the REMIC I Regular Interest LT1 Principal Reduction Amount.
More Definitions of Principal Reduction Amount
Principal Reduction Amount. ’ means, with respect to any period, the total amount of principal paid or payable on Borrowings (or, for the purpose of calculating the Forecast Debt Service for a particular Series of Bonds, the total principal paid or payable in respect of such Series of Bonds) by BC Ferries and its Designated Subsidiaries in that period, including principal in respect of Capital Leases and any mandatory deposit or contribution to a Sinking Fund in that period, but excluding (a) any principal payment in such period in respect of a Borrowing which, by its terms, is payable in a single instalment upon maturity, (b) any principal payment which is the last payment in a series of amortizing payments the amount of which is materially greater than the amount of the payments in such series in respect of a Borrowing which matures in such period, provided that an amount equal to what would otherwise have been the next payment in the series of amortizing payments shall be included,
Principal Reduction Amount means, with respect to any Payment Date, the sum, without duplication, of: (a) the principal portion of all Scheduled Obligor Payments collected during the related Collection Period with respect to each Receivable, (b) the principal portion of all prepayments received during the related Collection Period, (c) the Receivable Balance of each Receivable that became a Repurchased Receivable under an obligation that arose during the related Collection Period, (d) to the extent not included in the foregoing, the amount of any Cram Down Losses which occurred during the related Collection Period and (e) the Receivable Balance of all Receivables that became Defaulted Receivables during the related Collection Period.
Principal Reduction Amount. As to any Distribution Date, an amount equal to (i) the excess of (x) the Pool Balance as of the first day of the Collection Period over (y) the Pool Balance as of the last day of the Collection Period minus (ii) for Distribution Dates occurring on and after the Stepdown Date and for which a Trigger Event is not in effect, the Overcollateralization Release Amount, if any.
Principal Reduction Amount means, (i) with respect to a Credit Event in respect of which the Conditions to Settlement have been satisfied and as a consequence of which the Tranche Loss on Default exceeds zero, the amount by which the Tranche Loss on Default exceeds zero, and (ii) with respect to each Credit Event in respect of which the Conditions to Settlement have been satisfied at any time after the Tranche Loss on Default has exceeded zero, the greater of (a) the relevant Losses on Default relating to such Credit Event and (b) zero, as calculated by the Calculation Agent in a commercially reasonable manner, provided that each Principal Reduction Amount shall be capped at a maximum amount equal to the Principal Amount Outstanding of the Notes immediately prior to the determination of such Principal Reduction Amount.
Principal Reduction Amount. As to any Payment Date, an amount equal to the total, without duplication, of the following:
Principal Reduction Amount means in respect of a Cash Settlement Date under the CDS Contract and any Note, an amount equal to its pro rata proportion (as between the Notes) of the related Cash Settlement Amount (or, where more than one Cash Settlement Amount is payable on such date, the aggregate of the related Cash Settlement Amounts) payable under the CDS Contract, subject in any case to a maximum equal to the outstanding Principal Amount of such Note, as determined by the Calculation Agent; provided that such amount shall only be determined after having first applied any positive balance of the Trading Account Ledger to the reduction (in whole or in part) of such related Cash Settlement Amount (or aggregate of the related Cash Settlement Amounts), as the case may be.
Principal Reduction Amount means the amount, determined by the Calculation Agent on the Final Redemption Date, Optional Redemption Date or Early Redemption Date and each Instalment Redemption Date (if applicable), by which the Outstanding Principal Amount of the Notes shall be redeemed proportionate to the aggregate Net Proceeds or Sale Proceeds, as the case may be, received by the Issuer in relation to such Final Redemption Date, Optional Redemption Date, Early Redemption Date or Instalment Redemption Date.