Principal Shortfalls definition

Principal Shortfalls shall have the meaning specified in Section 4.04.

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Principal Shortfalls means, with respect to a Transfer Date, the aggregate amount for all outstanding Series that the related Supplements specify are “Principal Shortfalls” for such Transfer Date.

Principal Shortfalls means, with respect to any Distribution -------------------- Date (a) during the Accumulation Period, the amount, if any, by which the Controlled Deposit Amount exceeds the sum of the Class A Monthly Principal, Class B Monthly Principal and CIA Monthly Principal for such Distribution Date or (b) during the Rapid Amortization Period, (i) the amount, if any, by which the Class A Invested Amount exceeds the Class A Monthly Principal for such Distribution Date, (ii) on and after the Class B Principal Commencement Date, the amount, if any, by which the Class B Invested Amount exceeds the Class B Monthly Principal for such Distribution Date and (iii) on and after the CIA Principal Commencement Date, the amount if any, by which the CIA Invested Amount exceeds the CIA Monthly Principal for such Distribution Date.

Examples of Principal Shortfalls in a sentence

On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the Collection Account, the Trust Collateral Agent will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix), (xii) and (xv) above as well as any Matured Principal Shortfalls described in (v), (viii), (xi), (xiv) and xvii above.
On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the Collection Account, the Indenture Trustee will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix), (xii) and (xv) above as well as any Matured Principal Shortfalls described in (v), (viii), (xi), (xiv) and (xvii) above.
On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the Collection Account, the Trust Collateral Agent will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix), (xii) and (xv) above as well as any Matured Principal Shortfalls described in (v), (viii), (xi), (xiv) and (xvii) above.
In determining the Proposed Principal Shortfall Amount for each Collateral Certificate, the Servicer agrees to determine such amount in a manner that shall maximize the amount of payments received from Collateral Certificates in respect of Proposed Principal Shortfalls Amounts.
If the sum of the Remaining Series Principal Shortfalls for all Series secured by any Asset Pool for such Note Transfer Date is greater than zero, the Servicer shall calculate the Collateral Certificate Principal Shortfall Allocation for each Unapplied Master Trust Level Principal Sharing Collateral Certificate in such Asset Pool for such Note Transfer Date and shall notify the servicer for the issuing entity of each such Collateral Certificate of such amount.

More Definitions of Principal Shortfalls

Principal Shortfalls means, for any Distribution Date, the aggregate amount for all outstanding Series in a Group which the related Indenture Supplements specify are to be treated as “Principal Shortfalls” for such Distribution Date.

Principal Shortfalls means on any Business Day (x) for Series 1998-3, (i) during the Accumulation Period, the amount, if any, by which the Controlled Deposit Amount for the Transfer Date immediately following the then current Monthly Period exceeds the total of the amounts described in clauses (v), (w), (x) and (y) of subsection 4.9(c)(i), and (ii) at all other times, the Invested Amount of the class then receiving principal payments after the application of Principal Collections on such Business Day or (y) for any other Series the amounts specified as such in the Supplement for such other Series.

Principal Shortfalls has the meaning specified in the applicable Series Supplement for a Collateral Certificate.

Principal Shortfalls shall have the meaning specified in Section 8.05.

Principal Shortfalls means, with respect to any Business Day and any outstanding Series, the amount which the related Supplement specifies as the "Principal Shortfall" for such Business Day.

Principal Shortfalls means the amounts representing scheduled or permitted principal distributions to certificateholders and deposits to principal funding accounts, if any, for any Series that have not been covered out of the Principal Collections allocable to such Series and certain other amounts.

Principal Shortfalls is defined, as to any Series, in the related Indenture Supplement.