Secured Note Principal Balance definition

Secured Note Principal Balance. With respect to each Secured Note on any date of determination, an amount equal to the result of (A) the product of (x) 50% and (y) the Secured Note Percentage and (z) Aggregate Initial ABS Value, reduced by (B) all payments prior to such date of determination in respect of principal made to the holder of such Secured Note pursuant to Section 3.03(c)(iii) of the Servicing Agreement.
Sample 1Sample 2Sample 3
Secured Note Principal Balance with respect to a COLT 20 -SN Secured Note on any date of determination, an amount equal to __% of the sum of the Initial ABS Values of the Series 20 -SN Lease Assets acquired by Ally Financial in the state related to such COLT 20 -SN Secured Note, reduced by all payments prior to such date of determination in respect of principal made to the holder of such COLT 20 -SN Secured Note pursuant to Section 3.03(c)(iii) of the COLT Servicing Agreement.
Sample 1Sample 2
Secured Note Principal Balance. As defined in Exhibit A to the COLT Servicing Agreement.
Sample 1Sample 2

Examples of Secured Note Principal Balance in a sentence

  • Each Secured Note shall be issued in the initial Secured Note Principal Balance set forth on the face thereof, which shall each be equal to 50% of the product of (x) the Secured Note Percentage and (y) the sum of the Initial ABS Values of the Lease Assets (with respect to each Secured Note, the “ Initial Secured Note Principal Balance”).

  • Each Secured Note shall accrue interest from and including the Closing Date on the Secured Note Principal Balance of such Secured Note, until but excluding the date on which the Secured Note Principal Balance of such Secured Note is reduced to zero.

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

  • If ACOLT or the ACOLT Indenture Trustee shall so determine, new Secured Notes so modified as to conform, in the opinion of the ACOLT Indenture Trustee and ACOLT, to any such supplemental indenture may be prepared and executed by ACOLT and authenticated and delivered by the ACOLT Indenture Trustee in exchange for Outstanding Secured Notes of a like Secured Note Principal Balance.

  • The Seller hereby represents that, as of the Closing Date, the Initial Aggregate Secured Note Principal Balance was $[ ].

  • The Initial Aggregate Secured Note Principal Balance is equal to $ .

  • The Initial Aggregate Secured Note Principal Balance is equal to $1,427,630,965.56.

  • Each COLT 20-SN Secured Note shall be issued in the initial Secured Note Principal Balance set forth on the face thereof, which shall each be equal to 50% of the product of (x) the Secured Note Percentage and (y) the sum of the Initial ABS Values of the Series 20-SN Lease Assets (with respect to each COLT 20-SN Secured Note, the “ Initial Secured Note Principal Balance”).

  • Ally Financial hereby represents that, as of the Series 20__-SN_ Closing Date, the Initial Aggregate Secured Note Principal Balance was $[ ].

  • The Seller hereby represents that, as of the Closing Date, the Initial Aggregate Secured Note Principal Balance was $1,411,534,429.55.


More Definitions of Secured Note Principal Balance

Secured Note Principal Balance. The outstanding unpaid principal balance of the related Secured Note.
Sample 1

Related to Secured Note Principal Balance

  • 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.

  • 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.

  • Initial Note Principal Balance means, with respect to each Note as of any date of determination, the “Initial Note Principal Balance” for such Note set forth in Part B of the Mortgage Loan Schedule.

  • Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.

  • 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.

  • Original Note Principal Balance means the Original Note Principal Balance of both Classes of Notes, or the Original Note Principal Balance of the Class 1-A Notes or the Class 2-A Notes, as applicable, each as reflected in the Adoption Annex.

  • Class C Note Principal Balance means, on any date of determination, an amount equal to (a) the Class C Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class C Noteholders on or prior to such date.

  • 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 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 Principal Balance means, as of any date of determination, the aggregate Note Principal Balance of the A Notes.

  • 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-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.

  • 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.

  • 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.

  • Certificate Principal Balance With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to:

  • 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.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • 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.

  • Class B-6 Principal Balance As to the first Determination Date, the Original Class B-6 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-6 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-second of Section 4.01(a) and (b) the Realized Losses allocated through such Determination Date to the Class B-6 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal Balance as of such Determination Date.

  • Class A Note Initial Principal Balance means $750,000,000.

  • Class B Principal Balance As of any date, an amount equal to the sum of the Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance and Class B-6 Principal Balance.

  • Class B-5 Principal Balance As to the first Determination Date, the Original Class B-5 Principal Balance. As of any subsequent Determination Date, the Original Class B-5 Principal Balance less the sum of all amounts previously distributed in respect of the Class B-5 Certificates on prior Distribution Dates (A) pursuant to Paragraph fifteenth of Section 4.01(a)(ii) and (B) as a result of a Principal Adjustment; provided, however, if the Class B-5 Certificates are the most subordinate Certificates outstanding, the Class B-5 Principal Balance will equal the difference, if any, between the Aggregate Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Aggregate Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance and the Class B-4 Principal Balance as of such Determination Date.

  • Class B-2 Principal Balance As to the first Determination Date, the Original Class B-2 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-2 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-2 Certificates on prior Distribution Dates (A) pursuant to Paragraph tenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-2 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance and the Class B-1 Principal Balance as of such Determination Date.

  • Class B Note Initial Principal Balance means $17,980,000.

  • 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.