Certificate Monthly Principal Distributable Amount definition

Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date, the Certificate Percentage of the Principal Distributable Amount for such Payment Date.
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Certificate Monthly Principal Distributable Amount means (a) zero on any Payment Date on which the outstanding principal balance of the Notes has not been reduced to zero after taking into account distributions on such Payment Date and (b) on each Payment Date on and after the Payment Date on which the outstanding principal balance of the Notes is reduced to zero, an amount equal to the Principal Distributable Amount minus the principal payment, if any, on the Notes on such Payment Date.
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Certificate Monthly Principal Distributable Amount will mean, with respect to any Distribution Date, the Certificate Percentage of the Principal Distributable Amount for such Distribution Date.
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More Definitions of Certificate Monthly Principal Distributable Amount

Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date the sum of (a) the Certificate Adjusted Principal Distributable Amount and (b) the Certificate Principal Carryover Shortfall; provided that the Certificate Monthly Principal Distributable Amount shall not exceed the Certificate Balance; provided, further, that if any Class A Note is outstanding, the Certificate Monthly Principal Distributable Amount shall not exceed the amount of principal that, if distributed on the Certificates, would reduce the outstanding principal amount of the Certificates to an amount equal to 1.25% of the initial Note Value. "Certificate Percentage" will be 3.75%.
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Related to Certificate Monthly Principal Distributable Amount

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Noteholders' Monthly Principal Distributable Amount means, with respect to any Distribution Date, the Noteholders' Percentage of the Principal Distributable Amount.

  • Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01 of the Sale and Servicing Agreement, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.

  • Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.

  • Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Payment Date for a Class of Notes or the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.