Receivables Principal Balance definition

Receivables Principal Balance. (i) With respect to a Subvented Receivable, an amount equal to the present value as of the close of business on the Cutoff Date of all remaining payments on the Subvented Receivable which have not been applied prior to the Cutoff Date, with each Receivable being discounted at the greater of the Discount Rate and the Annual Percentage Rate from the last day of the calendar month in which each scheduled payment is to become due to that Distribution Date and (ii) with respect to a Non-Subvented Receivable, an amount equal to the outstanding principal balance of the Non-Subvented Receivable on the Cutoff Date.
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Receivables Principal Balance. (i) with respect to a Subvented Receivable, an amount equal to the present value as of the close of business on the [Applicable] Cutoff Date of all remaining payments on the Subvented Receivable which have not been applied prior to the [Applicable] Cutoff Date, with each Receivable being discounted at the greater of the Discount Rate and the Annual Percentage Rate from the last day of the calendar month in which each scheduled payment is to become due to that Distribution Date and (ii) with respect to a Non-Subvented Receivable, an amount equal to the outstanding principal balance of the Non-Subvented Receivable on the [Applicable] Cutoff Date.
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Receivables Principal Balance means as of any determination date with respect to any Receivable, the outstanding principal balance of such Receivable as reflected on the books and records of the Servicer in accordance with the Credit and Collection Policy. The Receivables Principal Balance of any Receivable a portion of which has been charged-off in accordance with the Credit and Collection Policy shall be reduced by the portion so charged-off.
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Examples of Receivables Principal Balance in a sentence

  • On the Closing Date, Ally Auto shall pay to the Seller that portion of the Initial Aggregate Receivables Principal Balance as provided in Section 2.02.

  • In consideration for the Purchased Property, Ally Auto shall, on the Closing Date, pay to the Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Receivables Assignment”).

  • A portion of the Initial Aggregate Receivables Principal Balance shall be paid to the Seller in immediately available funds and the balance of such purchase price shall be paid through one or both of (a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to Ally Auto) and (b) an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto).

  • The “Servicing Fee” for any Payment Date, other than the initial Payment Date, shall be an amount equal to the product of (i) the Servicing Fee Rate, multiplied by (ii) the aggregate Receivables Principal Balance of all Receivables in the Receivables Trust Estate as of the first day of the related Collection Period, multiplied by (iii) one-twelfth.

  • The Servicing Fee for the initial Payment Date shall be an amount equal to the product of (i) the Servicing Fee Rate multiplied by (ii) the aggregate Receivables Principal Balance of all Receivables in the Receivables Trust Estate as of the Initial Cut- Off Date, multiplied by (iii) a fraction having as its numerator the number of days from the Initial Cut-Off Date through the end of the related Collection Period, and as its denominator, 360.

  • In any of the foregoing instances, the Borrower shall accept the release of each such affected Receivable from the Administrative Agent, and the aggregate Eligible Receivables Principal Balance shall be reduced by the Principal Balance (as of the end of the most recent Collection Period) of each such affected Receivable and, if applicable, increased by the Principal Balance of each such Substitute Receivable.

  • The Initial Aggregate Receivables Principal Balance is equal to $1,023,444,119.61 and shall be paid to the Seller in immediately available funds.

  • The Initial Aggregate Receivables Principal Balance is equal to $1,260,764,014.07.

  • Notwithstanding the foregoing, in no event may the aggregate sales of Defaulted Receivables (by Receivables Principal Balance of such Defaulted Receivable as of the applicable Cut-Off Date) pursuant to this Section 2.15 exceed 10% of the Receivables Principal Balance of all Receivables as of their applicable Cut-Off Date.

Related to Receivables Principal Balance

  • Mortgage Loan Principal Balance means, at any date of determination, the aggregate principal balance of the Notes evidencing the Mortgage Loan.

  • Note A-7 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-8 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-8 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-8 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-6 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-6 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-4 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-4 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-4 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Aggregate Note Principal Balance With respect to the close of a Distribution Date, the sum of the Note Principal Balances for all classes of Notes.

  • Note B Principal Balance means, at any time of determination, the Initial Note B Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

  • Note A-3 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-3 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-3 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-5 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-5 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Principal Balance means the outstanding principal amount of the Loan, plus interest expected to be capitalized (if any), less amounts which may not be insured (such as late charges).

  • Aggregate Principal Balance means, with respect to any date of determination, the sum of the Principal Balances for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as of the date of determination.

  • Note A-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A-4 Principal Balance as of any date means the Class A‑4 Initial Principal Balance less all amounts paid to the holders of Class A‑4 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Class A-1 Principal Balance as of any date means the Class A‑1 Initial Principal Balance less all amounts paid to the holders of Class A‑1 Notes in respect of principal pursuant to Section 5.06 hereof.