Required Principal Payment means, with respect to each class of Securities, for any Payment Date, such Class’s pro rata portion of the sum of (i) the principal portion of the Prepayment Amount, if any, deposited into the Payment Account during the related Due Period and (ii) any cash withdrawn from the Buyer’s Account in respect of principal and deposited into the Payment Account pursuant to Section 5.2(a) or (b), including on the Expiration Date.

Required Principal Payment means (a) in connection with each Release Price paid to Lender in connection with the sale of a Lot or Home, the Release Note Payment Amount to be applied to the outstanding Loan Balance, and (b) that certain quarterly principal payment to be made during the Reduction Period in order to reduce the outstanding Loan Balance to an amount not greater than the then-applicable Reduced Commitment Amount.

Required Principal Payment means, as of any date of determination, the amount by which the aggregate outstanding Note Fundings exceeded the then applicable Borrowing Base, or such greater amount as shall be specified by the Issuer as of any Payment Date.

Examples of Required Principal Payment in a sentence

If as a result of Realized Losses, the Amount Available on any Payment Date is insufficient to pay the full Required Principal Payment Amount for such Payment Date to the Noteholders, the Overcollateralization Amount will be reduced by the amount of that deficiency.
Except as otherwise provided in this Agreement, Borrower shall not transfer assets to any third party, except in the ordinary course of business, unless the Required Principal Payment is made with respect thereto (in which event the transfer shall be free, clear and discharged of the Bank’s security interest in the assets involved).
Borrower shall make each Required Principal Payment in connection with each sale of a Home and Lot.
During the Reduction Period, commencing with the first Loan Payment Date occurring on or after the end of the first Calendar Quarter following the Initial Line Maturity Date and continuing at the end of each Calendar Quarter thereafter, Borrower shall make any Required Principal Payment necessary to reduce the outstanding Loan Balance to a sum not in excess of the then-applicable Reduced Commitment Amount.
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More Definitions of Required Principal Payment

Required Principal Payment means the Release Price paid to and applied by Lender to the outstanding Loan Balance.

Required Principal Payment is defined in Section 8.2(a).

Required Principal Payment means an amount equal to $16,000 per month.

Required Principal Payment means, as of any date of determination, the amount by which the aggregate outstanding Revolving Advances exceeded the then applicable Borrowing Base.

Required Principal Payment means with respect to any Payment Date, (i) following the occurrence of a Default and acceleration of the Notes or on any Payment Date on or after the Termination Date, the entire outstanding principal amount of the Loan, and (ii) following the deposit into the Collection Account of any amounts representing insurance proceeds under paragraph 9, sales proceeds under paragraph 34(a), or condemnation proceeds under paragraph 13 since the prior Payment Date, an amount equal to that portion of the Note allocable to the related Property for which the insurance proceeds have been paid.

Required Principal Payment means the dates and amounts set forth in the Statement of Terms.

Required Principal Payment means (a) in connection with each Release Price paid to Lender in connection with the sale of a Lot or Home, the Release Note Payment Amount (and, if elected by Borrower, any Excess Sales Proceeds deposited into the Borrower's Funds Account) to be applied to the outstanding Loan Balance, and (b) that certain quarterly principal payment to be made during the Reduction Period in order to reduce the outstanding balance of the Loan to an amount not greater than the then-applicable Reduced Commitment Amount.