Common use of Determination of Monthly Principal Clause in Contracts

Determination of Monthly Principal. (a) The amount of monthly principal ("Class A Monthly Principal") distributable from the Collection Account with respect to the Class A Certificates on each Distribution Date beginning with the first to occur of (i) the first Special Payment Date, if any, and (ii) the first Distribution Date to occur with respect to the Accumulation Period, shall be equal to the Available Investor Principal Collections on deposit in the Collection Account with respect to such Distribution Date; provided, however, that for each Distribution Date with respect to any Monthly Period, Class A Monthly Principal shall not exceed the Controlled Distribution Amount for such Distribution Date; and provided further that Class A Monthly Principal shall not exceed the Class A Invested Amount.

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A), Pooling and Servicing Agreement (Citibank South Dakota N A), Pooling and Servicing Agreement (Citibank South Dakota N A)

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Determination of Monthly Principal. (a) The amount of monthly principal ("Class A Monthly Principal") distributable from the Collection Account with respect to the Class A Certificates on each Distribution Date beginning with the first earlier to occur of (i) the first Special Payment Date, if any, and (ii) the first Distribution Date to occur with respect to any Early Accumulation Period or Early Amortization Period or the Controlled Accumulation Period, shall be equal to the Available Investor Principal Collections on deposit in the Collection Account with respect to such Distribution Date; provided, however, that for each Distribution Date with respect to any Monthly the Controlled Accumulation Period, Class A Monthly Principal shall not exceed the Controlled Distribution Amount for such Distribution DateDeposit Amount; and provided further that with respect to any Distribution Date Class A Monthly Principal shall not exceed the Class A Adjusted Invested Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Household Affinity Funding Corp)

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