Senior Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 57.40% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date (including amounts in the Prefunding Account as of the Closing Date).
Senior Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class P and Class A-R Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 53.03% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date. Servicer: Wilshire or Ocwen, or their successors in interest, as applicable, or any successor servicer appointed as provided herein.
Senior Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the aggregate Class Principal Balance of the Group 1 Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 88.00% and (ii) the Aggregate Loan Group Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Group Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Loan Group Balance as of the Cut-off Date. Servicers: SPS, Xxxxx Fargo, UMS and WMMSC, and any successor in interest thereto or any successor servicer appointed as provided herein.
Examples of Senior Principal Payment Amount in a sentence
In the event that the Class M Notes have been reduced to zero while any Class A Note is outstanding, all priorities relating to Senior Principal Payment Amount referenced above will be disregarded.
Instead, an amount equal to the Senior Principal Payment Amount will be paid to the Class A Notes remaining, pro rata in accordance with their respective outstanding Note Balances.
As to any Payment Date, an amount equal to the sum of (i) the Senior Interest Payment Amount, (ii) the Senior Principal Payment Amount, (iii) the Class B-1 Interest Payment Amount, (iv) the Class B-1 Principal Payment Amount, (v) the Class B-2 Interest Payment Amount and (vi) the Class B-2 Principal Payment Amount.
As to any Payment Date, an amount equal to the sum of (i) the Senior Interest Payment Amount, (ii) the Senior Principal Payment Amount, (iii) the Class [B-1] Interest Payment Amount, (iv) the Class [B-1] Principal Payment Amount, (v) the Class [B-2] Interest Payment Amount and (vi) the Class [B-2] Principal Payment Amount.
As to any Payment Date, an amount equal to the sum of (i) the Senior Interest Payment Amount, (ii) the Senior Principal Payment Amount, (iii) the Class B-1 Interest Payment Amount, (iv) the Class B- 1 Principal Payment Amount, (v) the Class B-2 Interest Payment Amount and (vi) the Class B-2 Principal Payment Amount, in each case for such Payment Date.
More Definitions of Senior Principal Payment Amount
Senior Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the aggregate Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 85.40% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Loan Balance as of the Cut-off Date.
Senior Principal Payment Amount. For any Payment Date on or after the Stepdown Date with respect to such Payment Date, will be the amount, if any, by which (x) the Principal Balance of the Senior Notes immediately prior to such Payment Date exceeds (y) the lesser of (A) the product of (i) approximately ____% and (ii) the Aggregate Loan Balance for such Payment Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Payment Date exceeds (ii) ____% of the Aggregate Loan Balance as of the Cut-off Date.
Senior Principal Payment Amount. With respect to the Senior Notes and any Payment Date on or after the Stepdown Date and as long as a Trigger Event is not in effect, with respect to such Payment Date, an amount equal to the lesser of (x) the Principal Payment Amount and (y) the amount, if any, by which (A) the aggregate Class Principal Amounts of the Senior Notes immediately prior to that Payment Date exceeds (B) the Senior Target Amount.
Senior Principal Payment Amount. With respect to any Payment Date before the Stepdown Date or as to which a Trigger Event has occurred, 100% of the Principal Payment Amount for such Payment Date, and with respect to any Payment Date on or after the Stepdown Date and as to which a Trigger Event has not occurred, the excess of:
Senior Principal Payment Amount. The sum of (i) the Group I Senior Principal Payment Amount and (ii) the Group II Senior Principal Payment Amount.
Senior Principal Payment Amount. With respect to (a) any Payment Date prior to the Stepdown Date or during the continuation of a Delinquency Event, the lesser of (1) 100% of the Principal Payment Amount and (2) the aggregate Class Note Balance of the Senior Notes immediately prior to such Payment Date, and (b) any other Payment Date, an amount equal to the lesser of (1) the Principal Payment Amount and (2) the excess, if any, of (x) the aggregate Class Note Balance of the Senior Notes immediately prior to the applicable Payment Date over (y) the lesser of (A) 69.50% of the Pool Balance as of the last day of the related Due Period minus the Subordination Required Overcollateralization Amount for such Payment Date and (B) the Pool Balance as of the last day of the related Due Period minus the OC Floor.
Senior Principal Payment Amount. With respect to any Payment Date and the Class l- A1, Class l-A2, Class 2-A1 and Class 2-A2 Notes, an amount equal to (a) prior to the Stepdown Date or if Trigger Event is in effect with respect to such Payment Date, 100% of the Principal Payment Amount for both Mortgage Groups and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Payment Date, the lesser of (x) the Principal Payment Amount for both Mortgage Groups and (y) the amount, if any, by which (A) the aggregate Class Principal Amounts of the Class l-A1, Class l-A2, Class 2-A1 and Class 2- A2 Notes immediately prior to that Payment Date exceeds (B) the Senior Target Amount.