Excess Principal definition

Excess Principal has the meaning given that term in Section 2.4(c).

Excess Principal has the meaning set forth in Section 2.4(c) of the Transfer Agreement. “Excess Working Capital Advance” has the meaning set forth in Section 5.5 of the LLC Operating Agreement.

Excess Principal has the meaning given in Section 2.3(b). “Failed Bank” has the meaning given in the first recital.

Examples of Excess Principal in a sentence

• Any Excess Principal Funding Investment Proceeds shall be paid to the Seller on each Transfer Date.

• Upon discovery of any Class A Excess Principal Event, the Issuer, within two (2) Business Days of such discovery, shall deliver written notice of any related Class A Excess Principal Mandatory Decreases, any related Class A Excess Principal Mandatory Decrease Amount and the date of any such Class A Excess Principal Mandatory Decrease to the Administrative Agent, the Issuer Security Trustee and each Class A Noteholder.

• Principal Balance of any Asset exceeds the Cut- Off Date Unpaid Principal Balance of such Asset (such excess, the “Excess Principal”), the Private Owner shall be liable to the Transferor for an amount equal to the Adjustment Percentage multiplied by the Excess Principal.

• Principal Balance of any Asset exceeds the Cut-Off Date Unpaid Principal Balance of such Asset (such excess, the “Excess Principal”), the Private Owner shall be liable to the Transferor for an amount equal to the Adjustment Percentage multiplied by the Excess Principal.

• Pursuant to Condition 5.2, on each Payment Date an amount of principal is payable comprised of Due Principal and Excess Principal.

More Definitions of Excess Principal

Excess Principal has the meaning set forth in Section 2.4(c) of the Contribution Agreement.

Excess Principal. With respect to any Sub-Pool and for a particular Remittance Date, the lesser of (i) the portion, if any, of the Available Principal Amount for such Sub-Pool that is not required to be included in the related Class A Principal Remittance Amount for such Sub-Pool for such Remittance Date as a result of the application of clause (a) of the definition of Class A Principal Remittance Amount and (ii) the amount of such portion described in clause (i) remaining after the application of the related Available Remittance Amount to cover the Required Payments for such Sub-Pool.

Excess Principal has the meaning given that term in Section 2.4(c). “Excluded Liabilities” has the meaning given that term in Section 2.2.

Excess Principal means, as of any date during any Collection Period, Collections then on deposit in the Collection Account constituting payments of principal on the Receivables that, when added to all other Available Funds then on deposit in the Collection Account (excluding Excess Interest), exceed those amounts necessary to make all payments required to be made on the next following Payment Date pursuant to Section 2.05(c)(i)(A), as specified in the related Monthly Remittance Report (but excluding such payments with respect to which amounts have been set aside in the Waterfall Account pursuant to Section 2.05(b)).

Excess Principal. With respect to any Group and for a particular Payment Date, the excess, if any, of (a) the amount described in the related definition of Class A Principal Remittance Amount without giving effect to clauses (a) and (b) thereof over (b) the amount described in the related definition of Class A Principal Remittance Amount after giving effect to clauses (a) and (b) thereof.

Excess Principal means any principal under the ANB Bank Debt in excess of the Principal Cap.

Excess Principal means the remainder of (x) the product of (1) the Advance Rate, multiplied by (2) the Net Receivables Balance, minus (y) the Aggregate Principal Outstanding; provided, that for purposes of calculating available Excess Principal, the Aggregate Principal Outstanding will be reduced by Partial Prepayments of Invested Principal only to the extent made on a voluntary basis by Customer pursuant to Section 2.9(d) hereof; provided, however, after giving effect to any proposed disbursement request (or actual disbursement) in respect of Excess Principal, the Aggregate Principal Outstanding may not exceed the lesser of (x) the Facility Limit and (y) the Warehouse Asset Limit Amount.