Principal Collections Clause Examples

Principal Collections. All Principal Collections on Purchased Receivables shall be payable to the Purchasers up to the amount of the Outstanding Purchase Price from time to time. On each Settlement Date during the Revolving Period, Principal Collections received during the prior Settlement Period shall be first, applied to the aggregate Purchase Price of Eligible Receivables purchased on such Settlement Date in accordance with the terms and conditions of this Agreement and second, paid to the Purchasers on such Settlement Date and applied in respect of the Outstanding Purchase Price. On each Settlement Date during the Amortization Period, Principal Collections received during the prior Settlement Period shall be paid to the Purchasers on such Settlement Date and applied in respect of the Outstanding Purchase Price. Following an Amortization Event, Principal Collections on account of the Purchase Discount applied to the Purchase Price of Receivables purchased during a Rating Event or a Discount Event may, at the discretion of the Managing Facility Agent, be deemed Finance Charge Collections available to be distributed pursuant to subsections 2.16(b)(ii) and (b)(iii).

Principal Collections. (a) The "Series 2000-1 Excess Principal Collections," with respect to any Distribution Date, shall mean Excess Principal Collections for all Series for such Distribution Date in an amount equal to the lesser of (a) the Series 2000-1 Principal Shortfall, if any, for such Distribution Date and (b) an amount equal to the product of (x) Excess Principal Collections for all Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 2000-1 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all Series for such Distribution Date.

Principal Collections. (a) The "Series 1997-1 Excess Principal Collections," with respect to ------------------------------------------ any Distribution Date, shall mean Excess Principal Collections for such Distribution Date in an amount equal to the lesser of (a) the Series 1997-1 Principal Shortfall, if any, for such Distribution Date and (b) an amount equal to the product of (x) Excess Principal Collections for all Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 1997- 1 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all Series for such Distribution Date. (b) The "Series 1997-1 Principal Shortfall" for: ---------------------------------

Principal Collections. The Administrative Agent (in consultation with the Facility Servicer and on behalf of the Borrower) shall (as directed pursuant to this Section 2.08(b)) instruct the Account Bank to transfer Principal Collections held by the Account Bank in the Collection Account, in accordance with the Payment Date Report, to the following Persons in the following amounts, calculated as of the most recent Determination Date, in the following order and priority, with respect to Principal Collections: (i) first, to the payment of amounts set forth under clauses (i) through (iv) of Section 2.08(a) above to the extent such amounts have not been paid from Interest Collections; (ii) second, if an LTV Trigger Event has occurred and is continuing, to each Lender, to repay such Lender’s Pro Rata Share of the Advances Outstanding until the Advances Outstanding are repaid to an amount where LTV, when recalculated with such amount of Advances Outstanding, no longer exceeds the Maximum Quarterly LTV Percentage; (iii) third, if an Event of Default (other than an LTV Trigger Event) has occurred and is continuing and at any time after the expiration of the Availability Period, to each Lender, to repay such Lender’s Pro Rata Share of the Advances Outstanding, to pay such Advances Outstanding in full; and (iv) fourth, during the Availability Period, if no LTV Trigger Event or Event of Default has occurred and is continuing or would result after giving effect to the payment under this clause (iv), to the Borrower or as the Borrower may direct (including to make a Restricted Junior Payment permitted hereunder) less the amount of the Borrower’s Cash included in the Borrowing Base and necessary so that no LTV Trigger Event would occur after giving effect to any Restricted Junior Payment of such amount.

Principal Collections. Class A Principal Allocation Percentage $ 86.5000% Class A Monthly Principal $ 43,452,702.36 Class B Principal Allocation Percentage 6.0000% Class B Monthly Principal $ 3,014,060.28 Collateral Principal Allocation Percentage 7.5000% Collateral Monthly Principal $ 3,767,575.35 Total Monthly Principal $ 50,234,337.99 Reallocated Principal Collections $ 0.00 Shared Principal Collections allocable from other Series $ 175,023,985.48 IX. INVESTOR CHARGE-OFFS ------------------------ CLASS A INVESTOR CHARGE-OFFS Class A Investor Charge-Offs $ 0.00 Class A Investor Charge-Offs per $1,000 original certificate principal amount $ 0.00 Total amount reimbursed in respect of Class A Investor Charge-Offs $ 0.00 Total amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount $ 0.00 The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Investor Interest after giving effect to all transactions on such Distribution Date. $ 0.00 CLASS B INVESTOR CHARGE-OFFS Class B Investor Charge-Offs $ 0.00 Class B Investor Charge-Offs per $1,000 original certificate principal amount $ 0.00 Total amount reimbursed in respect of Class B Investor Charge-Offs $ 0.00 Total amount reimbursed in respect of Class B Investor Charge-Offs per $1,000 original certificate principal amount 0.00 The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Investor Interest after giving effect to all transactions on such Distribution Date. $ 0.00 Collateral INVESTOR CHARGE-OFFS Collateral Investor Charge-Offs $ 0.00 Collateral Investor Charge-Offs per $1,000 original certificate principal amount $ 0.00 Total amount reimbursed in respect of Collateral Investor Charge-Offs $ 0.00 Total amount reimbursed in respect of Collateral Investor Charge-Offs per $1,000 original certificate principal amount $ 0.00 The amount, if any, by which the outstanding principal balance of the Collateral Certificates exceeds the Collateral Investor Interest after giving effect to all transactions on such Distribution Date. $ 0.00

Principal Collections. On each Payment Date, so long as no Event of Default has occurred and is continuing, the Collateral Manager shall direct (which direction shall be deemed given upon receipt by the Collateral Custodian of the related Payment Date Report) the Collateral Custodian to pay pursuant to the latest Payment Date Report (and the Collateral Custodian shall make payment from the Principal Collection Account to the extent of Available Funds, in reliance on the information set forth in such Payment Date Report) to the following Persons, the following amounts in the following order of priority: 1. to the extent not paid pursuant to Section 2.7(a), to the applicable Person, in the order of priority set forth in Section 2.7(a), such amounts payable pursuant to clauses (1) through (8) thereof; 2. during the Revolving Period, to the Principal Collection Account, to be distributed at the discretion of the Collateral Manager (i) to be used (on such Payment Date or maintained in the Principal Collection Account for such use) with respect to any Reinvestment of Principal Collections and the acquisition of Loans as permitted by this Agreement or (ii) to repay the Advances Outstanding; provided that any Available Funds in the Principal Collection Account not distributed or maintained pursuant to this clause (2) shall, on such Payment Date, be distributed in accordance with the remainder of this Section 2.7(b); 3. to the extent not paid pursuant to Section 2.7(a), to the applicable Person, in the order of priority set forth in Section 2.7(a), such amounts payable pursuant to clause (9) thereof;

Principal Collections. So long as no Event of Default has occurred and is continuing: (i) upon the Company’s delivery of (A) a Principal Collections Notice and (B) a Daily Settlement and Servicing Report satisfactory to the Administrative Agent by 1:00 p.m. (New York City time) on any designated Business Day, the Collateral Agent shall instruct the Account Bank to transfer the requested Principal Collections from the Principal Collections Account to the Company Account by 4:00 p.m. (New York City time) on the Business Day designated in the Principal Collections Notice, which amounts shall be solely applied by the Company to purchase new Underlying Receivables under the Receivables Purchase Agreement or to fund any unfunded Required Spread Account Amounts; provided, that funds from the Principal Collections Account may not be applied to purchase new Underlying Receivables if, after giving effect to the withdrawal of such funds from the Principal Collections Account and to such application, there would exist a Borrowing Base Deficiency; (ii) the Company may request the Collateral Agent to release all or a portion of the Principal Collections in the Principal Collections Account (not otherwise used pursuant to clause (i) above) to pay the outstanding principal balance on the Tranche A Revolving Loans upon two Business Days’ notice, subject to (A) the satisfaction of the requirements in Section 2.10(a)(i) and (B) the Company’s delivery of a Daily Settlement and Servicing Report satisfactory to the Administrative Agent by 1:00 p.m. (New York City time) on the date of such notice, and such amounts shall be applied on such Business Day to repay the outstanding Tranche A Revolving Loans; and (iii) on each Interest Payment Date, all amounts on deposit in the Principal Collections Account as of 8:30 a.m. New York City time on the last day of the immediately preceding Collection Period shall be applied (A) first, to pay any amounts not otherwise funded pursuant to Section 2.15(b)(i) through (x) on such Interest Payment Date and (B) second, to repay the outstanding Tranche A Revolving Loans; provided that on any Interest Payment Date the Company may retain up to $1,000,000 on deposit in the Principal Collections Account.

Principal Collections. The aggregate amount of Principal Collections processed during the related Collection Period(s) which were allocated in respect of the Class A Certificates . . .

Principal Collections. (a) The aggregate amount of $ Principal Collections processed during the Related Collection Period allocated to Series 1999-1 (i.e., the product of item D(1)(b) and item C(7)): (b)The aggregate amount of $ Principal Collections processed during the Related Collection Period allocated to Series 1999-1 Investor Certificates (i.e., the product of item D(2)(a) and item C(9), if the related Collection Period commences during the Revolving Period, or the product of item D(2)(a) and item C(10) if such Collection Period commences after the Revolving Period terminates):