Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case as of the day preceding such Distribution Date, over the Pool Balance as of the last day of the preceding Collection Period minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on and after the Class B Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class B Notes as of the day preceding such Distribution Date.
Secondary Principal Distributable Amount has the meaning specified in the Indenture.
Secondary Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes and Class B Notes on that Distribution Date (before giving effect to any payments made to holders of the Notes on that Distribution Date) over the sum of the Priority Principal Distributable Amount and the Pool Balance as of the last day of the related Collection Period; provided, however, that on and after the Final Scheduled Distribution Date for the Class B Notes, the Secondary Principal Distributable Amount will be not less than the amount that is necessary to reduce the outstanding principal balance of the Class B Notes to zero.
More Definitions of Secondary Principal Distributable Amount
Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of (a) the sum of the Note Balance of all Notes as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date), over (b) the Pool Balance as of the last day of the preceding Collection Period plus any Pre-Funding Account Amount as of the last day of such Collection Period, over (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Scheduled Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the Note Balance of the Class B Notes as of the day preceding such Distribution Date.
Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date), over the Pool Balance as of the last day of the preceding Collection Period minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Scheduled Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the Note Balance of the Class B Notes as of the day preceding such Distribution Date.
Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case as of the day preceding such Distribution Date, over the Pool Balance as of the last day of the preceding Collection Period minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class B Notes as of the day preceding such Distribution Date; and, provided further, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class C Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the sum of the outstanding principal balance of the Class B Notes and the outstanding principal balance of the Class C Notes, in each case as of the day preceding such Distribution Date.
Secondary Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to the excess, if any, of (i) the lesser of (a) the Note Balance on that Distribution Date (before giving effect to any payments made to Holders of the Notes on that Distribution Date), and (b) the excess, if any, of (1) the sum of the Note Balance on that Distribution Date (before giving effect to any payments made to Holders of the Notes on that Distribution Date), the Regular Overcollateralization Target Amount and the Yield Supplement Overcollateralization Target Amount for that Distribution Date over (2) the sum of the Pool Balance and any Pre-Funding Account Amount as of the last day of the related Collection Period, over (ii) the Priority Principal Distributable Amount, if any; provided however, that for each Distribution Date on and after the Final Scheduled Distribution Date for the Class B Notes, the Secondary Principal Distributable Amount will not be less than the amount that is necessary to reduce the outstanding amount of the Class B Notes to zero.