Definition of 2017-A Exchange Note Principal Distributable Amount


2017-A Exchange Note Principal Distributable Amount means, with respect to any Payment Date and the related Collection Period, the amount equal to the sum of (i) the difference between (a) the 2017-A Aggregate Securitization Value as of the close of business on the last day of the immediately preceding Collection Period, less (b) the 2017-A Aggregate Securitization Value as of the close of business on the last day of the related Collection Period, plus (ii) the portion of the 2017-A Exchange Note Principal Distributable Amount, if any, that was not paid on any prior Payment Date; provided, that, for each Payment Date occurring on or after the Exchange Note Final Scheduled Payment Date, the 2017-A Exchange Note Distributable Payment Amount will equal the entire outstanding 2017-A Exchange Note Balance as of such Payment Date.

Examples of 2017-A Exchange Note Principal Distributable Amount in a sentence

For each Payment Date, the amount of principal payable with respect to the 2017-A Exchange Note will be equal to the 2017-A Exchange Note Principal Distributable Amount.
No amendment to this 2017-A Exchange Note Supplement shall reduce the 2017-A Exchange Note Interest Rate or the 2017-A Exchange Note Principal Distributable Amount or delay the Final Scheduled Payment Date of the 2017-A Exchange Note, or materially and adversely affect the interests of the 2017-A Exchange Noteholder, without the consent of the 2017-A Exchange Noteholder (which shall be the Indenture Trustee, acting at the direction of the Majority Noteholders of the Controlling Class).