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.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of Class A Monthly Principal for such Distribution Date and, in the case of any Distribution Date other than the initial Distribution Date, the Class A Principal Carryover Shortfall as of the close of business on the preceding Distribution Date; provided that the Class A Principal Distributable Amount shall not exceed the Class A Certificate Balance prior to such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount shall include, to the extent not included under the preceding sentence, the amount that is necessary (after giving effect to the other amounts to be deposited in the Class A Distribution Account on such Distribution Date and allocable to principal) to reduce the Class A Certificate Balance to zero.
Class A Principal Distributable Amount means, with respect to any Payment Date, an amount equal to the greater of the Outstanding Amount of the Class A-1 Notes and the following:
Examples of Class A Principal Distributable Amount in a sentence
S-40 Class A Principal Distributable Amount.........................
Notwithstanding the foregoing, on the final scheduled payment date for any class of Class A Notes or Class VPN Notes, the Class A Principal Distributable Amount for that class will equal the outstanding principal balance of that class as of the close of business on the immediately preceding monthly settlement date.
More Definitions of Class A Principal Distributable Amount
Class A Principal Distributable Amount means, with respect to any Distribution Date, the amount distributable in respect of principal on the Class A Notes on such Distribution Date which amount shall equal the greater of (i) the outstanding principal amount of the Class A-1 Notes on that Distribution Date (before giving effect to any payments made to Holders of the Class A Notes on that Distribution Date) or (ii) the excess of the principal amount of the Class A Notes immediately prior to that Distribution Date over the lesser of (a) the Class A Principal Percentage of the Aggregate Principal Balance as of the last day of the related Collection Period or (b) the excess of such Aggregate Principal Balance over the Overcollateralization Floor Amount; provided, however, that on any Distribution Date that the Net Chargeoff Percentage exceeds the Sequential Payment Trigger, the Class A Principal Distributable Amount shall equal the lesser of (i) the Aggregate Principal Distributable Amount or (ii) the outstanding principal amount of the Class A Notes; provided, further, that on any Distribution Date on and after the Final Scheduled Distribution Date of any class of Class A Notes, the Class A Principal Distributable Amount will not be less than the amount that is necessary to pay the outstanding principal amount of that class of Class A Notes.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Class A Percentage of the following amounts (but not exceeding the Class A Certificate Balance as of such Distribution Date): (i) in the case of Precomputed Receivables, the principal portion of all Scheduled Payments due during the related Collection Period, computed in accordance with the actuarial method, (ii) in the case of Simple Interest Receivables, the principal portion of all Scheduled Payments actually received during the related Collection Period, (iii) the principal portion of all Prepayments received during such Collection Period (to the extent such amounts are not included in clauses (i) and (ii) above), and (iv) the Principal Balance of each Receivable that became an Administrative Receivable, a Warranty Receivable or a Defaulted Receivable during such Collection Period (to the extent such amounts are not included in clauses (i), (ii) and (iii) above). In addition, with respect to the Final Scheduled Distribution Date or the Distribution Date upon which all remaining Receivables are to be purchased pursuant to Section 10.02, the Class A Principal Distributable Amount will include the portion of such amount necessary (after giving effect to the other amounts to be distributed to the Class A Certificateholders on such Final Scheduled Distribution Date or Distribution Date and allocable to principal) to reduce the Class A Certificate Balance to zero.
Class A Principal Distributable Amount means, with respect to any Distribution Date, the Class A Percentage of the Principal Distributable Amount.
Class A Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the product of (a) the Class A Percentage and the (b) Monthly Principal for such Payment Date plus (ii) the Class A Principal Carryover Shortfall for such Payment Date. "AVAILABLE INTEREST" means, with respect to any Payment Date, the total (without duplication) of the following amounts received by the Servicer on or in respect of the Contracts during the related Due Period: (i) all amounts received in respect of interest on the Contracts (as well as Late Payment Penalty Fees and Extension Fees), (ii) the interest component of all Net Liquidation Proceeds, (iii) the interest component of the aggregate of the Repurchase Prices for Contracts repurchased by the Seller pursuant to Section 8.06, (iv) all Advances made by the Servicer pursuant to Section 8.03, (v) the interest component of all amounts paid by the Seller in connection with an optional repurchase of the Contracts pursuant to Section 8.08, (vi) all amounts received in respect of Carrying Charges transferred from the Interest Reserve Account pursuant to Section 8.03, and (vii) all amounts received in respect of interest, dividends, gains, income and earnings on investment of funds in the Trust Accounts as contemplated in the last sentence of Section 5.05(d). "AVAILABLE PRINCIPAL" means, with respect to any Payment Date, the total (without duplication) of the following amounts received by the Servicer on or in respect of the Contracts during the related Due Period: (i) all amounts received in respect of principal on the Contracts, (ii) the principal component of all Net Liquidation Proceeds, (iii) the principal component of the aggregate of the Repurchase Prices for Contracts repurchased by the Seller pursuant to Section 8.06, and (iv) the principal component of all amounts paid by the Seller in connection with an optional repurchase of the Contracts pursuant to Section 8.08. "CLASS A INTEREST CARRYOVER SHORTFALL" means, with respect to any Payment Date, (i) the excess of the Class A Interest Distributable Amount for the preceding Payment Date over the amount of interest that was actually distributed to Class A Certificateholders on such preceding Payment Date, plus (ii) 30 days of interest on the amount specified in clause (i), to the extent permitted by law, at the Class A Pass-Through Rate. "CLASS A PRINCIPAL CARRYOVER SHORTFALL" means, with respect to any Payment Date, (i) the excess of the Class A Principal Distributable Amount over (ii) th...
Class A Principal Distributable Amount means, with respect to any Distribution Date, the sum of: (i) the Class A Monthly Principal Distributable Amount for such Distribution Date, (ii) the Additional Class A Principal Distributable Amount, if any, for such Distribution Date and (iii) the Class A Principal Carryover Shortfall for such Distribution Date; provided, however, that (x) the sum of clauses (i), (ii) and (iii) shall not exceed the outstanding principal amount of the Class A Notes, and (y) on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount will include the amount, to the extent of the remaining Available Funds, necessary (after giving effect to other amounts having a higher payment priority on such Distribution Date) to reduce the outstanding principal amount of the Class A Notes to zero.
Class A Principal Distributable Amount means, for any Distribution Date, the sum of Class A Monthly Principal for such Distribution Date and, in the case of any Distribution Date other than the initial Distribution Date, the Class A Principal Carryover Shortfall for such Distribution Date. In addition, on the Final Scheduled Distribution Date, the Class A Principal Distributable Amount shall include any additional amount required to reduce the outstanding aggregate principal balance of the Class A Certificates to zero.
Class A Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to (i) the Outstanding Amount of the Class A Notes immediately prior to such Distribution Date minus (ii) the lesser of (A) 88.25% of the Pool Balance for such Distribution Date and (B) an amount equal to (1) the Pool Balance for such Distribution Date minus (2) the Overcollateralization Target Amount for such Distribution Date; provided, however, that, unless the Class A Notes have been paid in full, for (I) any Distribution Date as of which the Three-Month Annualized Net Loss Ratio is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on that Distribution Date and (II) each subsequent Distribution Date as of which the Six-Month Annualized Net Loss Ratio is greater than or equal to the Sequential Principal Payment Trigger Percentage in effect on that Distribution Date, the Class A Principal Distributable Amount shall be 100% of the Regular Principal Allocation for such Distribution Date; provided further, that on the Final Scheduled Distribution Date of any Class of Class A Notes, the Class A Principal Distributable Amount shall not be less than the amount that is necessary to pay that Class of Class A Notes in full; and provided further, that the Class A Principal Distributable Amount on any Distribution Date shall not exceed the Outstanding Amount of the Class A Notes on that Distribution Date.