Procedure for Decreasing the Principal Amount Sample Clauses

Procedure for Decreasing the Principal Amount. On any one or more Monthly Sale Dates during the Revolving Period, upon request of the Servicer on behalf of the Trust, the Aggregate Principal Amount may be reduced (a "Decrease") by (A)(i) a deposit by the Transferor to the Distribution Account of the amount of such reduction or (ii) the allocation to the Distribution Account of any amounts available pursuant to Section 4.3(g) of the Agreement or (iii) any combination of (i) and (ii). The Servicer shall give the Deal Agent written notice (effective upon receipt) prior to 12:00 Noon (New York City time) three Business Days prior to the date of any Decrease stating the amount of such Decrease; provided that each such Decrease shall be in an amount equal to or greater than $250,000.
Sample 1Sample 2
AutoNDA by SimpleDocs
Procedure for Decreasing the Principal Amount. On any one or more Weekly Sale Dates during the Revolving Period, upon request of the Servicer on behalf of the Trust, the Aggregate Class A Principal Amount may be reduced (a "Class A Decrease") by (A)(i) a deposit by the Transferor to the Distribution Account of the amount of such reduction or (ii) the allocation to the Distribution Account of any amounts available pursuant to Section 4.3(g) of the Agreement or (iii) any combination of (i) and (ii). On any one or more Weekly Sale Dates during the Revolving Period, upon request of the Servicer on behalf of the Trust, the Aggregate Class B Principal Amount may be reduced (a "Class B Decrease") by (A)(i) a deposit by the Transferor to the Distribution Account of the amount of such reduction or (ii) the allocation to the Distribution Account of any amounts available pursuant to Section 4.3(g) or (iii) any combination of (i) and (ii); provided that, after giving effect to such Class B Decrease, the Series Subordinated Amount shall not be less than the Required Series Subordinated Amount and the amount of the Class B Decrease shall not exceed the amount that when subtracted from the Aggregate Class B Principal Amount (after giving effect to amounts previously allocated to thereto pursuant to this Section 8) will cause the Aggregate Class B Principal Amount to equal the Required Subordinated Amount (after giving effect to such Class B Decrease). The Servicer shall give the Administrative Agent written notice (effective upon receipt) prior to 12:00 Noon (New York City time) three Business Days prior to the date of any Decrease stating the amount of such Decrease, the portion thereof to be allocated to the Class A Decrease and the portion thereof to be allocated to the Class B Decrease; provided that each such Decrease shall be in an amount equal to or greater than $250,000.
Sample 1
Procedure for Decreasing the Principal Amount 
Sample 1Sample 2Sample 3See All (16)

Related to Procedure for Decreasing the Principal Amount

  • Limitation on Aggregate Principal Amount The aggregate principal amount of the Notes shall not be limited. The Company shall not execute and the Trustee shall not authenticate or deliver Notes except as permitted by the terms of the Indenture.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Calculation of Principal Amount of Notes The aggregate principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, and Section 13.06 of this Indenture. Any calculation of the Applicable Premium made pursuant to this Section 2.13 shall be made by the Company and delivered to the Trustee pursuant to an Officers’ Certificate.

  • Designation and Principal Amount There is hereby authorized and established a new series of Securities under the Base Indenture, designated as the “3.000% Senior Notes due 2022”, which is not limited in aggregate principal amount. The initial aggregate principal amount of the Senior Notes to be issued under this Seventh Supplemental Indenture shall be limited to $750,000,000. Any additional amounts of such series to be issued shall be set forth in a Company Order.

  • Additional Voting Terms; Calculation of Principal Amount All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13.

  • Aggregate Principal Amount The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this First Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this First Supplemental Indenture.

  • Reductions in Class Principal Balances of the Notes On each Payment Date on or prior to the Termination Date, the Class Principal Balance of each Class of Original Notes will be reduced (in each case without regard to any exchanges of Original Notes for MAC Notes), without any corresponding payment of principal, by the amount of the reduction, if any, in the Class Notional Amount of the Corresponding Class of Reference Tranche due to the allocation of Calculated Tranche Write-down Amounts to such Class of Reference Tranche on such Payment Date pursuant to Section 3.03(b) above. If on the Maturity Date or any Payment Date a Class of MAC Notes is outstanding, all Calculated Tranche Write-down Amounts that are allocable to Original Notes that were exchanged for such MAC Notes will be allocated to reduce the Class Principal Balances or Notional Principal Amounts, as applicable, of such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value In the event that the Company elects to redeem the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the last reported sales price of the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given.

Time is Money Join Law Insider Premium to draft better contracts faster.