Principal Release Amount means, with respect to any Series and any Quarterly Payment Date on which the related Series Non-Amortization Test is satisfied in accordance with the applicable Series Supplement, all or part of the amounts allocated with respect to such Scheduled Principal Payment to the applicable Collection Account Administrative Account pursuant to the Priority of Payments during the immediately preceding Quarterly Collection Period which the Master Issuer does not elect to make as a Scheduled Principal Payment with respect to such Series on such Quarterly Payment Date.
Principal Release Amount means, with respect to any Series and any Quarterly Payment Date for which the related Series Non-Amortization Test is satisfied as of the related Non-Amortization Test Date, the amounts in respect of Scheduled Principal Payments with respect to such Series that have been allocated to the Senior Notes Principal Payment Account, the Senior Subordinated Notes Principal Payment Account or the Subordinated Notes Principal Payment Account, as applicable, pursuant to the Priority of Payments during the applicable Quarterly Fiscal Period, net of any Optional Scheduled Principal Payment with respect to such Series for such Quarterly Payment Date.
Principal Release Amount means, with respect to any Series and any Quarterly Payment Date on which the related Series Non-Amortization Test is satisfied, unless the Master Issuer has elected to make the related Senior Notes Scheduled Principal Payment, the Senior Notes Quarterly Scheduled Principal Amounts with respect to such Series that have been allocated to the Senior Notes Principal Payment Account pursuant to the Priority of Payments since the immediately preceding Quarterly Payment Date.
Examples of Principal Release Amount in a sentence
The Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to distribute the remainder of such Principal Release Amount, if any, in the priority set forth in the Priority of Payments, beginning at priority (xi), but excluding (i) priority (xv) in the case of a Principal Release Amount with respect to any Series of Senior Subordinated Notes or (ii) priority (xvii) in the case of a Principal Release Amount with respect to any Series of Subordinated Notes.
The Issuer (or the Manager on its behalf) will instruct the Trustee in writing to distribute the remainder of the Principal Release Amount, if any, in the priority set forth in the Priority of Payments, beginning at priority (xi), but excluding (i) priority (xv) in the case of a Principal Release Amount with respect to any Series of Senior Subordinated Notes or (ii) priority (xvii) in the case of a Principal Release Amount with respect to any Series of Subordinated Notes.
More Definitions of Principal Release Amount
Principal Release Amount means, as of any Payment Date during the Replenishment Period, the sum of (a) any Principal Collections which have not been applied to acquire Additional Loans within 90 days after receipt by the Issuer, plus (b) any amounts held in the Principal Collection Account pending application to acquire Substitute Loans that have not been applied to acquire Substitute Loans within 90 days after initial deposit to the Principal Collection Account.
Principal Release Amount means, with respect to any Series and any Quarterly Payment Date on which the related Series Non-Amortization Test is satisfied in accordance with the applicable Series Supplement, all or part of the amounts allocated with respect to such Scheduled Principal Payment to the applicable Collection Account Administrative Account pursuant to the Priority of Payments during the immediately preceding Quarterly Collection Period which the Master Issuer does not elect to make as a Scheduled Principal Payment with respect to such Series on such Quarterly Payment Date. “Principal Terms” has the meaning specified in Section 2.3 of the Base Indenture. “Priority of Payments” means the allocation and payment obligations described in Section 5.12 and Section 5.13 of the Base Indenture as supplemented by the allocation and payment obligations with respect to each Series of Notes described in each Series Supplement. “pro forma event” has the meaning set forth in Section 14.18 of the Base Indenture. “Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. “Proceeds” has the meaning specified in Section 9-102(a)(64) of the applicable UCC. “PTO” means the U.S. Patent and Trademark Office and any successor U.S. federal office. “Qualified Institution” means a depository institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times has the Required Rating and, in the case of any such institution organized under the laws of the United States of America, whose deposits are insured by the FDIC. “Qualified Trust Institution” means an institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times (i) is authorized under such laws to act as a trustee or in any other fiduciary capacity, (ii) has capital, surplus and undivided profits of not less than $250,000,000 as set forth in its most recent published annual report of condition and (iii) has a long term deposits rating of not less than “Baa1” by Xxxxx’x and “B...
Principal Release Amount means, with respect to any Series and any Quarterly Payment Date on which the related Series Non-Amortization Test is satisfied, the Senior Notes Scheduled Principal Payments Amounts with respect to such Series that have been allocated to the Senior Notes Principal Payment Accounts pursuant to the Priority of Payments prior to such Quarterly Payment Date. “Principal Terms” has the meaning specified in Section 2.3 of the Base Indenture. “Priority of Payments” means the allocation and payment obligations described in Section 5.11 of the Base Indenture as supplemented by the allocation and payment obligations with respect to each Series of Notes described in each Series Supplement. “Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding.