Callable Principal definition

Callable Principal means the right to receive (i) the payment, whether upon stated maturity or upon earlier redemption, of the Principal and redemption premium, if any, of Bonds which are redeemable at the option of the Issuer thereof prior to stated maturity, and (ii) the Interest relating to such Bonds with respect to Interest Payment Dates after the First Call Date for such Bonds, in each case subject to Section 5.03(b) hereof.
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Examples of Callable Principal in a sentence

  • If any tax or other governmental charge shall become payable by or on behalf of the Trustee, including any tax or charge required to be withheld from any payment made to or by the Trustee under the provisions of any applicable law, with respect to any Certificate or with respect to the Interest, Principal or Callable Principal (or portions thereof) evidenced by any Certificate, such tax or governmental charge shall be payable by the Holder of such Certificate and may be so withheld by the Trustee.

  • Each class of Certificates shall evidence the ownership by the Holders thereof of Interest, Principal, or Callable Principal (or portions thereof), as the case may be, on the Bonds, less any Retained Amount, to the extent required by the terms of such class of Certificates.

  • All Certificates issued upon any registration of transfer or exchange of Certificates shall evidence, to the extent indicated thereby, Interest, Principal and/or Callable Principal (or portions thereof), as the case may be, of Bonds held by the Trustee hereunder and shall be entitled to the same benefits under this Agreement as the Certificates surrendered upon such registration of transfer or exchange.

  • Such notice shall set forth (a) the identity of the issue of Bonds, (b) the date and nature of such default, (c) the face amount of the Interest, Principal or Callable Principal to which such default relates, (d) the identifying numbers of the class of Certificates, or any combination, as the case may be, evidencing the Interest, Principal or Callable Principal (or portions thereof) described above in clause (c), and (e) any other information which the Trustee may deem appropriate.

  • A purchaser's tax basis in a Receipt will equal the purchase price for such Receipt increased by the portion of the original issue discount accrued on such Receipt during the period such purchaser owns the Receipt and, in the case of a Callable Principal Receipt, if properly treated as an installment obligation maturing on the scheduled maturity date, reduced by any payments actually received prior to maturity.

  • All notices of redemption shall be mailed to each Holder at such Holder's last address on the Receipt Register and shall state the Redemption Date, the amount payable on such date, the place at which Callable Principal Receipts are to be surrendered for payment, that interest on amounts redeemed will cease to accrue and, if less than all of a Holder's Callable Principal Receipt is to be redeemed, the principal amount of such Callable Principal Receipt to be redeemed.

  • Such notice shall set forth (a) the identity of the issue of Bonds, (b) the date and nature of such default, (c) the face amount of the Interest, Principal or Callable Principal to which such default relates, (d) the identifying numbers or the class of Receipts, or any combination, as the case may be, evidencing the Interest, Principal or Callable Principal (or portions thereof) described above in clause (c), and (e) any other information which the Trustee may deem appropriate.

  • With respect to any payment of Interest, Principal or Callable Principal, as applicable, that constitutes a Retained Amount, the Trustee shall remit such Retained Amount to the Depositor, in immediately available funds, within one Business Day of receipt by the Trustee from the Issuer.

  • For purposes of calculating original issue discount and gain or loss on disposition, the Callable Principal Receipts should be treated as a single "stripped bond" (rather than multiple debt components representing separate rights to receive principal and to receive interest on each semiannual interest payment date subsequent to the first optional call date thereof, for which tax basis must be separately allocated and original issue discount separately calculated).

  • In the case of Callable Principal Receipts with respect to which the Bond is required to be redeemed prior to its stated maturity date, original issue discount and yield to maturity will likely be required to be calculated by taking into account events that have occurred prior to the purchase date of such Callable Principal Receipts and therefore, as if the date on which the redemption is to take place and the redemption price were the maturity date and amount payable at maturity, respectively.

Related to Callable Principal

  • Available Principal With respect to any Distribution Date, the sum of the following amounts with respect to the prior Monthly Period:

  • Attributable Principal Amount means (a) in the case of capital leases, the amount of capital lease obligations determined in accordance with GAAP, (b) in the case of Synthetic Leases, an amount determined by capitalization of the remaining lease payments thereunder as if it were a capital lease determined in accordance with GAAP, (c) in the case of Securitization Transactions, the outstanding principal amount of such financing, after taking into account reserve amounts and making appropriate adjustments, determined by the Administrative Agent in its reasonable judgment and (d) in the case of Sale and Leaseback Transactions, the present value (discounted in accordance with GAAP at the debt rate implied in the applicable lease) of the obligations of the lessee for rental payments during the term of such lease).

  • Applicable Principal Amount means the aggregate principal amount of the Senior Notes that are components of Corporate Units.

  • Excess Subordinate Principal Amount With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to Section 4.02(b)(i)(E). With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date.

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Available Principal Collections means, with respect to any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series2023-3 Allocable Principal Collections received during such Monthly Period minus (ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal Collections with respect to other Series that are allocated to Series 2023-3 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which pursuant to Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Accreted Principal Amount for the Class A-2 Certificates means for each six month period from and including each date specified in Schedule II hereof to but excluding the next such date, the amount specified in Schedule II as the "Ending Balance" for such beginning date.

  • Current Principal Amount With respect to any Certificate (other than an Interest Only Certificate) as of any Distribution Date, the initial principal amount of such Certificate, and reduced by (i) all amounts distributed on previous Distribution Dates on such Certificate with respect to principal, (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such Certificate, taking account of the Loss Allocation Limitation and (iii) in the case of a Subordinate Certificate, such Certificate's pro rata share, if any, of the applicable Subordinate Certificate Writedown Amount for previous Distribution Dates. With respect to any Class of Certificates (other than an Interest Only Certificate), the Current Principal Amount thereof will equal the sum of the Current Principal Amounts of all Certificates in such Class. Notwithstanding the foregoing, solely for purposes of giving consents, directions, waivers, approvals, requests and notices, the Class R-I, Class R-II and Class R-III Certificates after the Distribution Date on which they each receive the distribution of the last dollar of their respective original principal amount shall be deemed to have Current Principal Amounts equal to their respective Current Principal Amounts on the day immediately preceding such Distribution Date.

  • Targeted Principal Classes As specified in the Preliminary Statement.

  • Substitution Principal Amount With respect to any Mortgage Loan substituted in accordance with Section 2.02 or pursuant to Section 2.03, the excess of (x) the unpaid principal balance of the Mortgage Loan which is substituted for over (y) the unpaid principal balance of the Substitute Mortgage Loan, each balance being determined as of the date of substitution.

  • Note A-2 Principal Balance” set forth on the Mortgage Loan Schedule, less any payments of principal on Note A-2 received by the Note A-2 Holder or reductions in the principal balance thereof pursuant to Section 3 or 4, as applicable.

  • Monthly Principal is defined in Section 4.1(d).

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Prepayment Price Has the meaning specified in Section 6.02(b) of the Indenture.

  • Liquidation Principal The principal portion of Liquidation Proceeds received with respect to each Mortgage Loan which became a Liquidated Mortgage Loan (but not in excess of the principal balance thereof) during the Prior Period.

  • Excess Subordinated Amount With respect to any Distribution Date, the excess, if any, of (a) the Subordinated Amount on such Distribution Date over (b) the Specified Subordinated Amount for such Distribution Date.

  • Floating Investor Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Adjusted Investor Interest as of the close of business on the last day of the prior Monthly Period (or with respect to the first Monthly Period, the Initial Investor Interest) and the denominator of which is the greater of (a) the sum of (i) the aggregate amount of Principal Receivables as of the close of business on the last day of the prior Monthly Period (or with respect to the first calendar month in the first Monthly Period, the aggregate amount of Principal Receivables in the Trust as of the close of business on the day immediately preceding the Closing Date, and with respect to the second calendar month in the first Monthly Period, the aggregate amount of Principal Receivables as of the close of business on the last day of the first calendar month in the first Monthly Period) and (ii) the Excess Funding Amount as of the close of business on such last day of the prior Monthly Period and (b) the sum of the numerators used to calculate the Investor Percentages (as such term is defined in the Agreement) for allocations with respect to Finance Charge Receivables, Default Amounts or Principal Receivables, as applicable, for all outstanding Series on such date of determination; provided, however, that with respect to any Monthly Period in which an Addition Date occurs or in which a Removal Date occurs, the amount determined pursuant to clause (a)(i) hereof shall be the quotient of (A) the sum of (I) the aggregate amount of Principal Receivables in the Trust as of the close of business on the last day of the prior Monthly Period multiplied by the actual number of days in the period from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (II) the aggregate amount of Principal Receivables in the Trust as of the beginning of the day on the related Addition Date or Removal Date after adjusting for the aggregate amount of Principal Receivables added to or removed from the Trust on the related Addition Date or Removal Date, multiplied by the actual number of days in the period from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period divided by (B) the actual number of days in such Monthly Period.

  • Class A Non-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan, and (y) the sum of:

  • Class B-1 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Cumulative Outstanding Principal Amount means the aggregate principal amount of each series of Bonds issued and Outstanding from time to time in accordance with the provisions of this Ordinance, as reflected in the records maintained by the Registrar as provided in this Ordinance.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • Class B-6 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Required Principal As determined for any Distribution Date for a given Series (or Class within such Series), unless otherwise specified in the related Supplement, the amounts on deposit in the Certificate Account allocable to principal payments on the Underlying Securities (including from Credit Support, if any, and Advances, if any, but excluding amounts in respect of principal payments to the extent that Advances with respect thereto were distributed as Required Principal on a prior Distribution Date) and required to be distributed in respect of the Certificates of such Series (or Class) in accordance with the terms of such Certificates and such related Supplement.

  • Make-Whole Redemption Amount means the sum of: