Examples of Targeted Note Balance in a sentence
The respective Amortisation Amount is the amount necessary to reduce the outstanding principal amount of the respective Series of Notes to the Class A Targeted Note Balance and the Class B Targeted Note Balance.
The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the outstanding principal amount of the Class B Notes to the Class B Targeted Note Balance respectively.
The Class A Principal Payment Amount is the amount necessary to reduce the outstanding principal amount of the Class A Notes to the Class A Targeted Note Balance.
Rules of repayment of the Class A NotesThe repayment of the Class A Notes will be carried out on a pro rata basis among the Notes of such Class, by means of the reduction of their nominal value until redeemed in full, and will take place on each Payment Date, in the amount necessary to reduce on such Payment Date the Outstanding Nominal Balance of the Class A Notes to an amount equal to the Class A Targeted Note Balance (the "Class A Principal Payment Amount").
Therefore, the Class B Notes may be repaid together with the Class A Notes depending on the Class B Targeted Note Balance which may be applicable on each Payment Date.
Thereafter, payments on each Series of Class B Notes will be made from any amounts remaining from the Available Distribution Amount after the payment of principal on each Series of Class A Notes until the Note Principal Amount Outstanding of each Series of Class B Notes equals the Class B Targeted Note Balance.
The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the aggregate Principal Outstanding of the Class B Notes to the Class B Targeted Note Balance.
The Class A Principal Payment Amount is the amount necessary to reduce the aggregate Principal Outstanding of the Class A Notes to the Class A Targeted Note Balance.
Class A Targeted Note Balance means (a) except in the case of (b) below, an amount equal to the excess of the Aggregate Discounted Receivables Balance as at the end of the Monthly Period over the Class A Targeted Overcollateralisation Amount, or (b) zero, if the Aggregate Discounted Receivables Balance as at the end of the Monthly Period is less than 10 per cent of the Aggregate Cut-Off Date Discounted Receivables Balance or if a Servicer Replacement Event occurs.
For these purposes, it is stated that: • The "Class A Targeted Note Balance" means: (a) except in the case of (b), the excess of the Aggregate Discounted Receivables Balance at the end of the Monthly Period over the Class A Targeted Overcollateralisation Amount; and (b) zero, if the Aggregate Discounted Receivables Balance as at the end of the Monthly Period is less than 10% of the Aggregate Cut-Off Date Discounted Receivables Balance or if a Service Provider Replacement Event occurs.