Class A Noteholders’ Principal Distribution Amount definition

Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount multiplied by the Class A Percentage for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders' Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes. In addition, on the maturity date for any class of Class A Notes, the principal required to be distributed to the related Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Distribution Date, the Principal Distribution Amount for that Distribution Date, plus any Class A Note Principal Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Noteholders' Principal Distribution Amount will not exceed the Outstanding Amount of the Class A Notes. In addition, on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date or the Class A-5 Maturity Date, as applicable, the principal required to be distributed to the related Class A Noteholders will include the amount required to reduce the Outstanding Amount of that class to zero.

Examples of Class A Noteholders’ Principal Distribution Amount in a sentence

  • On any Distribution Date, the principal on the Class A Notes will be paid up to the applicable Class A Noteholders’ Principal Distribution Amount.

  • On any Distribution Date, the principal on the Class A Notes will be paid to the Class A Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount.

  • On any Distribution Date, interest on the Class A-6 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class A-5 Notes will be prior in order of principal payment to the Class A-6 Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.

  • On any Distribution Date, interest on the Class A-6 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class A-5 Notes will be prior in order of principal payment to the Class A-6 Notes, and the Class A-6 Notes will be prior in order of principal payment, up to the applicable Class A Noteholders’ Principal Distribution Amount, to the Class B Notes.

  • On any Distribution Date, the principal on the Class A Notes will be paid, first, to the Class A-1 Notes; second, to the Class A-2 Notes; and third, to the Class A-3 Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount.

  • On any applicable Distribution Date, interest on the Class A-6 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class A-5 Notes will be prior in order of principal payment to the Class A-6 Notes, and the Class A-6 Notes will be prior in order of principal payment, up to the applicable Class A Noteholders’ Principal Distribution Amount, to the Class B Notes.

  • On any Distribution Date, interest on the Class A-4 Notes will be paid pari passu with the other Class A Notes, and the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes will be prior in order of principal payment to the Class A-4 Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.

  • On any Distribution Date, interest on the Class A-[__] Notes will be paid pari passu with the other Class A Notes, and the [Class A-[__] Notes will be prior in order of principal payment to the Class A-[_] Notes, Class A-[_] Notes and Class A-[_] Notes], up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.

  • On any Quarterly Payment Date, interest on the Class [A-5] Notes will be paid pari passu with the other Class A Notes, and the Class [A-1] Notes, Class [A-2] Notes, Class [A-3] Notes and Class [A-4] Notes will be prior in order of principal payment to the Class [A-5] Notes, and the Class [A-5] Notes will be prior in order of principal payment to the Class [A-6] Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.

  • On any Quarterly Payment Date, interest on the Class [A-1] Notes will be paid pari passu with the other Class A Notes, and the Class [A-1] Notes will be prior in order of principal payment to the Class [A-2] Notes, Class [A-3] Notes, Class [A-4] Notes, Class [A-5] Notes and Class [A-6] Notes, up to the applicable Class A Noteholders’ Principal Distribution Amount, and then to the Class B Notes.


More Definitions of Class A Noteholders’ Principal Distribution Amount

Class A Noteholders’ Principal Distribution Amount means (a) as of any Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, the lesser of (i) 100% of the excess, if any, of (x) the Class Note Balance (after taking into account distributions or allocations of principal on the immediately preceding Distribution Date or as of the Closing Date in the case of the first Distribution Date) over (y) the excess, if any, of (1) the Asset Balance for such Distribution Date over (2) the Specified Overcollateralization Amount and (ii) the Class A Note Balance and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect for such Distribution Date, the excess, if any, of (x) the Class A Note Balance immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 85.0% and (ii) the Asset Balance as of such Distribution Date and (B) the excess, if any, of the Asset Balance for such Distribution Date over the Specified Overcollateralization Amount. Notwithstanding the foregoing, on or after the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date or the Class A-4 Maturity Date, as applicable, the Class A NoteholdersPrincipal Distribution Amount shall not be less than the amount that is necessary to reduce the Class A-1 Note Balance, Class A-2 Note Balance, Class A-3 Note Balance or Class A-4 Note Balance, as applicable, to zero.
Class A Noteholders’ Principal Distribution Amount means for any distribution date, the sum of the First Priority Principal Distribution Amount, the Regular Principal Distribution Amount and the Additional Principal Distribution Amount, if any, in each case to be allocated sequentially, to the class A-1 notes, the class A-2 notes and the class A-3 notes, in that order until their respective outstanding principal balances are have been paid in full.
Class A Noteholders’ Principal Distribution Amount means, for any quarterly distribution date, the amount by which (a) the outstanding principal balance of the notes immediately prior to such quarterly distribution date exceeds (b) the Adjusted Pool Balance for that quarterly distribution date divided by the Overcollateralization Percentage; provided that the Class A NoteholdersPrincipal Distribution Amount will not exceed the outstanding principal balance of the notes.In addition, on the maturity date for the notes, the principal required to be distributed to the class A noteholders will include the amount required to reduce the outstanding balance of the notes to zero.
Class A Noteholders’ Principal Distribution Amount means (a) as of any quarterly distribution date prior to the Stepdown Date or on which a Trigger Event is in effect, the lesser of (i) 100% of the excess, if any, of (x) the aggregate balance of all classes of notes (after taking into account distributions or allocations of principal on the immediately preceding quarterly distribution date or as of the closing date in the case of the first quarterly distribution date) over (y) the excess, if any, of (1) the Asset Balance for such quarterly distribution date over (2) the Specified Overcollateralization Amount and (ii) the aggregate balance of the class A notes and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect for such quarterly distribution date, the excess, if any, of (x) the sum of the balances of the class A notes (giving effect to principal allocated but not distributed to the auction rate notes) immediately prior to such quarterly distribution date over (y) the lesser of (A) the product of (i) 85.0% and (ii) the Asset Balance as of such quarterly distribution date and (B) the excess, if any, of the Asset Balance for such quarterly distribution date over the Specified Overcollateralization Amount. Notwithstanding the foregoing, on or after the maturity date for the class A-1, class A-2, class A-3 or class A-4 notes, the Class A NoteholdersPrincipal Distribution Amount shall not be less than the amount that is necessary to reduce the balance of the class A-1, class A-2, class A-3 or class A-4 notes, as applicable, to zero.
Class A Noteholders’ Principal Distribution Amount means, for any Payment Date, an amount equal to the lesser of (a) the Class A Target Distribution Amount for such Payment Date and (b) the Target Principal Distribution Amount for such Payment Date; provided, however, that the Class A Noteholders’ Principal Distribution Amount on and after the Final Scheduled Payment Date of any class of Class A Notes shall be the amount necessary to reduce the Outstanding Amount of that class of Class A Notes to zero.

Related to Class A Noteholders’ Principal Distribution Amount

  • Class B Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class B Percentage for that distribution date, plus any Class B Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class B Noteholders’ Principal Distribution Amount will not exceed the principal balance of the class B notes.In addition, on the class B maturity date, the principal required to be distributed to the class B noteholders will include the amount required to reduce the outstanding principal balance of the class B notes to zero.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class B Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class B note rate for the related accrual period on the outstanding principal balance of the class B notes on the immediately preceding distribution date, after giving effect to all principal distributions to class B noteholders on that preceding distribution date, and • the Class B Note Interest Shortfall for that distribution date.