Scheduled Principal definition
Scheduled Principal. The principal portion of any Scheduled Payment.
Scheduled Principal. With respect to any Payment Date is the sum of all monthly scheduled payments of principal due (whether with respect to the related Reporting Period or any prior Reporting Period) on the Reference Obligations in the Reference Pool and collected by ▇▇▇▇▇▇▇ Mac during the related Reporting Period.
Scheduled Principal means an amount equal to the amount in respect of principal which would have been due and repayable under the Covered Bonds on each Interest Payment Date or the Final Maturity Date (as the case may be) as specified in the applicable Final Terms (but excluding any additional amounts relating to prepayments, early redemption, broken funding indemnities, penalties, premiums or default interest (“Excluded Scheduled Principal Amounts”) payable by the Issuer following an Issuer Event of Default but including such amounts (whenever the same arose) following service of a Guarantor Acceleration Notice) as if the Covered Bonds had not become due and repayable prior to their Final Maturity Date and, if the Final Terms specify that an Extended Due for Payment Date is applicable to the relevant Covered Bonds, as if the maturity date of the Covered Bonds had been the Extended Due for Payment Date;
Examples of Scheduled Principal in a sentence
In no event shall any Substitute Mortgage Loan have an unpaid principal balance, as of the date of substitution, greater than the Scheduled Principal Balance (reduced by the scheduled payment of principal due on the Due Date in the month of substitution) of the Mortgage Loan for which it is substituted.
The exercise of such option will effect early retirement of the Certificates, the Seller's right to exercise such option being subject to the Pool Scheduled Principal Balance of the Mortgage Loans as of the Distribution Date upon which the proceeds of such repurchase are distributed being less than ten percent of the Cut-Off Date Aggregate Principal Balance.
The exercise of such right will effect early retirement of the Certificates; however, such right to purchase is subject to the aggregate Scheduled Principal Balance of the Mortgage Loans (and properties acquired in respect thereof) at the time of purchase being less than or equal to 10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date.
The right of the Seller to purchase all the assets of the Trust Estate pursuant to clause (i) of the preceding paragraph are subject to Section 9.02 and conditioned upon the Pool Scheduled Principal Balance of the Mortgage Loans as of the Final Distribution Date being less than the amount set forth in Section 11.22.
The costs incurred by the Master Servicer, if any, in effecting the timely payment of taxes and assessments on the Mortgaged Properties and related insurance premiums shall not, for the purpose of calculating monthly distributions to the Certificateholders, be added to the Scheduled Principal Balances of the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.
More Definitions of Scheduled Principal
Scheduled Principal means, with respect to any Payment Date, the sum of all monthly scheduled payments of principal due (whether with respect to the related Reporting Period or any prior Reporting Period) on the Reference Obligations and reported to Fannie Mae and collected by the related servicer during the related Reporting Period.
Scheduled Principal means, with respect to any Payment Date, the sum of (a) the sum of (i) collections of principal on Simple Interest Receivables received during the related Collection Period, including collections of principal attributable to the Last Scheduled Payment of a Simple Interest Receivable that is a Final Payment Receivable (unless a Last Scheduled Payment Advance has previously been made with respect to such Last Scheduled Payment), and charges for Excess Wear and Tear and Excess Mileage, and (ii) Last Scheduled Payment Advances made on such Payment Date with respect to Simple Interest Receivables that are Final Payment Receivables, (b) the principal portion of each Scheduled Payment (including a Last Scheduled Payment on a Final Payment Receivable) due on any Actuarial Receivable during the related Collection Period, (c) (without duplication of amounts taken into account under (a) or (b)) the Principal Balance of (i) Receivables prepaid in full during the related Collection Period and (ii) Receivables which became Defaulted Receivables during the related Collection Period, (d) the Purchase Amount of each Receivable that was repurchased by the Seller or purchased by the Servicer during such Collection Period to the extent attributable to principal, (e) the proceeds of any other sale of a Receivable, to the extent allocable to principal, and (f) partial prepayments attributable to any refunded item included in the Amount Financed, such as extended warranty protection plan costs or physical damage, credit life or disability insurance premiums, or any partial prepayment which causes a reduction in the Obligor's periodic payment to be below the Scheduled Payment as of the related Cutoff Date; provided, however, that in calculating the Scheduled Principal, (x) all payments and proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchase Amount of which has been included in Scheduled Principal in a prior Collection Period (which shall be paid to the Seller or Servicer, as applicable) and (y) all amounts released from the Pre- Funding Account will be excluded.
Scheduled Principal means, in respect of a Series, any amount of scheduled principal payable under the Covered Bonds as specified in Condition 7(a) (Redemption at Maturity) (but excluding (a) any additional amounts relating to prepayments, early redemption, broken funding indemnities, penalties, premiums or default interest payable by the Issuer following an Issuer Event of Default and (b) any additional amounts the Issuer would be obliged to pay as a result of any gross-up in respect of any withholding or deduction made under the circumstances set out in Condition 8 (Taxation)), for this purpose disregarding any Excess Proceeds received by the Security Trustee on account of scheduled principal and on-paid to the CBC in accordance with the Trust Deed.
Scheduled Principal means, in respect of a Scheduled Payment Date, the amount of scheduled principal payable on the Guaranteed Bonds on such Scheduled Payment Date in accordance with Condition 9 (Payments) in accordance with the original terms of the Conditions without regard to any amendment or modification of such terms made after the date of this Financial Guarantee other than any amendment or modification of such terms made in accordance with the provisions of the Bond Trust Deed, as reduced by each amount of principal repaid or prepaid by the Issuer pursuant to the relevant Conditions or otherwise paid following enforcement in accordance with Condition 11(d) (Consequences of the delivery of a Bond Enforcement Notice);
Scheduled Principal. The principal portion of any Scheduled Payment. Securities Act: The Securities Act of 1933, as amended. Securities Administrator: ▇▇▇▇▇ Fargo Bank, National Association, in its capacity as paying agent or securities administrator (as applicable) hereunder, or its successor in interest, or any successor securities administrator or paying agent appointed as herein provided. Securities Administrator Information: As defined in Section 3.18(c). Securities Legend: "THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE 144A") TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A "QIB"), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (2) IN CERTIFICATED FORM TO AN "INSTITUTIONAL ACCREDITED INVESTOR" WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A) THE RECEIPT BY THE SECURITIES ADMINISTRATOR OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE SECURITIES ADMINISTRATOR OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE SECURITIES ADMINISTRATOR THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT (A "PLAN") THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, AND/OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR BY A PERSON USING "PLAN ASSETS" OF A PLAN, UNLESS THE PROPOSED TRANSFEREE PROVIDES THE SECURITIES ADMINISTRATOR WITH AN OPINION OF COUNSEL ...
Scheduled Principal means, with respect to any Payment Date, the amount scheduled to be paid on such Payment Date based on the Expected Sinking Fund Schedule.
Scheduled Principal means principal repayable by the Issuer to the Holders or to the Bond Trustee for the benefit of the Holders under the Guaranteed Bonds as specified in the Guaranteed Bonds (as may be adjusted in accordance with the terms of the Guaranteed Bonds, but disregarding any default interest, any indemnity payments or any prepayment or early redemption penalties), together (to the extent applicable) with any gross-up amounts payable by the Issuer to the Holders or to the Bond Trustee for the benefit of the Holders in accordance with the terms of the Guaranteed Bonds.