Class A Principal Carryover Shortfall means, as of the close of business on any Distribution Date, the excess of Class A Monthly Principal for such Distribution Date and any outstanding Class A Principal Carryover Shortfall from the preceding Distribution Date over the amount in respect of principal that is actually deposited in the Class A Distribution Account on such Distribution Date.

Class A Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of (i) the Class A Principal Distributable Amount plus any outstanding Class A Principal Carryover Shortfall with respect to one or more prior Distribution Dates, over (ii) the amount of principal distributed to Class A Certificateholders on such current Distribution Date.

Class A Principal Carryover Shortfall means, as of the close of any Distribution Date on which an Insurer Default is continuing, the excess of the Class A Principal Distributable Amount and any outstanding Class A Principal Carryover Shortfall from the preceding Distribution Date, over the amount of principal that the Holders of the Class A Certificates actually received on such current Distribution Date.

Examples of Class A Principal Carryover Shortfall in a sentence

More Definitions of Class A Principal Carryover Shortfall

Class A Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Class A Principal Distributable Amount plus any outstanding Class A Principal Carryover Shortfall with respect to one or more prior Distribution Dates over the amount of principal that the Holders of the Class A Certificates actually received on such current Distribution Date.

Class A Principal Carryover Shortfall. As of the close of business on any Distribution Date, the excess of the Class A Principal Distributable Amount plus any outstanding Class A Principal Carryover Shortfall from the preceding Distribution Date over the amount of principal that the holders of the Class A Certificates actually received on such current Distribution Date.

Class A Principal Carryover Shortfall. As of the close of business on any Payment Date, an amount equal to (i) the Class A Principal Payment Amount, minus (ii) the amount of principal that the holders of the Class A Notes actually received on such Payment Date.

Class A Principal Carryover Shortfall means, with respect to any Payment Date after the initial Payment Date, the amount, if any, by which the sum of the Class A Monthly Principal Distributable Amount for the preceding Payment Date and any outstanding Class A Principal Carryover Shortfall on that preceding Payment Date exceeds the amount in respect of principal on the Class A Notes actually paid to the Class A Noteholders on that preceding Payment Date.

Class A Principal Carryover Shortfall means, with respect to any Payment Date, (i) the excess of the Class A Principal Distributable Amount over (ii) the amount of principal that was actually distributed to Class A Certificateholders on such preceding Payment Date. "PRINCIPAL BALANCE" means (a) with respect to any Contract as of any date, an amount equal to the unpaid principal balance of such Contract as of the opening of business on the Initial Cutoff Date or related Subsequent Cutoff Date, as applicable, reduced by the sum of (x) all payments received by the Servicer as of such date allocable to principal and (y) any Cram Down Loss in respect of such Contract; PROVIDED, HOWEVER, that (i) if (x) a Contract is repurchased by the Seller pursuant to Section 5.01 of the Transfer and Sale Agreement and Section 8.06 because of a breach of representation or warranty or if (y) the Seller gives notice of its intent to purchase the Contracts in connection with an optional termination of the Trust pursuant to Section 5.02 of the Transfer and Sale Agreement and Section 8.08, in each case the Principal Balance of such Contract or Contracts shall be deemed as of the related Determination Date to be zero for the Due Period in which such event occurs and for each Due Period

Class A Principal Carryover Shortfall as of the close of any Distribution Date means the excess of Class A Principal plus any outstanding Class A Principal Carryover Shortfall from the preceding Distribution Date over the amount of principal that the Holders of the Class A Certificates actually received on such current Distribution Date. Distributions on this Class A Certificate will be made by the Trustee by wire transfer or check mailed to the Class A Certificateholder of record in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation hereon except that with Reference is hereby made to the further provisions of this Class A Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Trustee, by manual signature, this Class A Certificate shall not entitle the Holder hereof to any benefit under the Agreement or be valid for any purpose.

Class A Principal Carryover Shortfall means, with respect to any monthly settlement date, the excess of the Aggregate Class A Principal Distributable Amount for the preceding monthly settlement date over the amount that was actually deposited in the Class A payment account in respect of the outstanding principal balances of the Class A Notes and Class VPN Notes on such preceding monthly settlement date.