Principal Distribution definition

Principal Distribution means, in relation to the Mortgages Trust, any distribution by the Mortgages Trustee to any Beneficiary pursuant to Clause 11 (Distribution of Principal Receipts) or Clause 6.3 (Special Distribution) of the Mortgages Trust Deed;

Principal Distribution means, with respect to any Distribution Date, the Aggregate Scheduled Balance Decline during the related Collection Period; provided that the Principal Distribution on the Final Distribution Date will include the Aggregate Scheduled Balance of all Contracts that are Outstanding at the end of the Collection Period immediately prior to the Final Distribution Date.

Principal Distribution. With respect to any Distribution Date (other than the Final Distribution Date) and each Class of Notes, the excess of (A) the Monthly Principal Distributable Amount for such Distribution Date and such Class of Notes over (B) the related O/C Reduction Amount for such Distribution Date and such Class of Notes; provided, however, that the Principal Distribution shall not exceed the Note Principal Balance of such Class. The "Principal Distribution" on the Final Distribution Date for a Class of Notes will equal the Note Principal Balance of such Class as of such Distribution Date.

Examples of Principal Distribution in a sentence

• Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for purposes of all future calculations of Class Factors.

• During each calendar month, distributions in reduction of the Certificate Balances of the Trust Fund Certificates shall be made in an amount equal to the Principal Distribution Amount and shall be distributed in the amounts and in the priorities specified in the Prospectus Supplement.

• All distributions of such Principal Distribution Amount which are made with respect to a particular Class of Trust Fund Certificates shall be made pro rata among all Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind.

• On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Classes in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes, from the Principal Distribution Amount as provided herein.

• Distributions of the Principal Distribution Amount shall be made in the order and in the amounts as among Classes, as provided in the Prospectus Supplement.

More Definitions of Principal Distribution

Principal Distribution. Amount With respect to any Distribution Date and any Group, the sum of (a) the Basic Principal Distribution Amount for that Group for that Distribution Date and (b) the product of the Extra Principal Distribution Amount for that Distribution Date and the Allocation Percentage for that Group for that Distribution Date. Principal Prepayment Any payment of principal by a Mortgagor on a Loan that is received in advance of its scheduled Due Date and is not accompanied by an amount representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment. Partial Principal Prepayments shall be applied by the Servicer in accordance with the terms of the related Mortgage Note.

Principal Distribution. Amount Principal Per $1,000 Certificate Interest Distribution Amount Interest Per $1,000 Certificate Class A-1 Interest Carryover Shortfall Class A-1 Principal Carryover Shortfall Class A-2 Interest Carryover Shortfall Class A-2 Principal Carryover Shortfall Certificateholders' Interest Carryover Shortfall Certificateholders' Principal Carryover Shortfall Class A-2 Additional Principal Distribution Amount Note Balance: Class A-1 Notes: Class A-2 Notes:

Principal Distribution on the Final Distribution Date for a Class of Notes will equal the Note Principal Balance of such Class as of such Distribution Date.

Principal Distribution. Amount: $ 6,508,646.10 ---------------

Principal Distribution. As defined in Section 3.04(a) hereof.

Principal Distribution. Amount Principal Per $1,000 Certificate Interest Distribution Amount Interest Per $1,000 Certificate Noteholders' Interest Carryover Shortfall Certificateholders' Interest Carryover Shortfall Certificateholders' Principal Carryover Shortfall Note Balance Note Pool Factor Certificate Balance Certificate Pool Factor Servicing Fee Servicing Fee Per $1,000 Owner Trustee Fee Indenture Trustee Fee Backup Servicer Fee Custodian Fee Deficiency Fee Pool Balance Realized Losses Cram Down Losses 84 Liquidated Receivables Purchased Receivables Purchase Amounts Distribution Under Policy Spread Account Balance Amount Deposited to Spread Account Principal Balance of Receivables that were delinquent: 30 to 59 days 60 to 89 days 90 days or more Amount Withdrawn from Spread Account Reserve Account Balance Amount Deposited to Reserve Account Amount withdrawn from Reserve Account EXHIBIT C Form of Servicer's Certificate First Merchants Acceptance Corporation Monthly Servicing Report [Date] First Merchants Auto Trust 1997-2 $ % Asset Backed Notes $ % Asset Backed Certificates Distribution Date:

Principal Distribution means, in relation to the Mortgages Trust, any distribution by the Mortgages Trustee to any Beneficiary pursuant to Clause 11 (DISTRIBUTION OF PRINCIPAL RECEIPTS) or Clause 6.3 (SPECIAL DISTRIBUTION) of the Mortgages Trust Deed;