Class A Target Principal Amount definition

Class A Target Principal Amount means, with respect to any Payment Date, the product of (i) the Class A Percentage and (ii) the Contract Pool Principal Balance as of the related Accounting Date.

Class A Target Principal Amount means:

Class A Target Principal Amount means, with respect to any Payment Date or the immediately preceding Cut-Off Date, an amount equal to the least of (a) the Class A Principal Amount as of that Cut-Off Date, (b) the excess (if any) of (i) the Aggregate Outstanding Loan Principal Amount as of that Cut-Off Date over (ii) the Class B Principal Amount as of that Cut-Off Date and (c) the Class A Target Principal Amount with respect to the next preceding Payment Date;

Examples of Class A Target Principal Amount in a sentence

• No rights are conferred on any person under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of the Notes or these Conditions, but this does not affect any right or remedy of any person which exists or is available apart from that Act.APPENDIX The following Class A Target Principal Amount assumes a Class A initial Principal Amount Outstanding of £2,300,000,000 as of the Closing Date.

• Subject to the limitations set forth in Note Condition 2.5 (Limited recourse and non petition) and, in particular, subject to the Post-Enforcement Priority of Payments, on each Payment Date, the Notes will be subject to redemption in accordance with the Pre-Enforcement Priority of Payments sequentially in the following order: first the Class A Notes up to the Class A Target Principal Amount and thereafter the Class B Notes up to the Class B Target Principal Amount.

• REDEMPTION 5.1 Amortisation Subject to the limitations set forth in Note Condition 2.5 (Limited recourse and non petition) and, in particular, subject to the Issuer Post-Enforcement Priority of Payments, on each Payment Date,the Notes will be subject to redemption in accordance with the Issuer Pre-Enforcement Priority of Payments sequentially in the following order: first the Class A Notes up to the Class A Target Principal Amount and thereafter the Class B Notes up to the Class B Target Principal Amount.

More Definitions of Class A Target Principal Amount

Class A Target Principal Amount means, as of any PAYMENT DATE, (a) unless no PRINCIPAL DEFICIENCYTRIGGER EVENT has occurred, the excess (if any) of (i) the AGGREGATE OUTSTANDING PRINCIPAL AMOUNT (as calculated by the Servicer) as of the CUT- OFF DATE immediately preceding such PAYMENT DATE over (ii) the CLASS B PRINCIPAL AMOUNT outstanding as of the CUT-OFF DATE immediately preceding such PAYMENT DATE, as calculated by the CALCULATION AGENT or (b) in case a PRINCIPAL DEFICIENCY TRIGGER EVENT has occurred as of such PAYMENT DATE, zero;

Class A Target Principal Amount means, in respect of each Payment Date an amount, calculated on the immediately preceding Calculation Date, equal to the lesser of (a) the Principal Amount Outstanding of the Class A Notes as of such Calculation Date, and (b) the excess (if any) of the Outstanding Principal of all Claims (other than Defaulted Claims) as of the immediately preceding Collection Date over the aggregate of the Principal Amount Outstanding of the Class B Notes and the Principal Amount Outstanding of the Class C Notes as of such Calculation Date.

Class A Target Principal Amount means, with respect to any Distribution Date, the product of (a) the Class A Percentage and (b) the ADCB for all Contracts held by the Trust as of the last day of the Collection Period immediately preceding such Distribution Date.

Class A Target Principal Amount means, as of any Payment Date, (i) if no Accelerated Amortisation Event has occurred on the related Calculation Date (or there has been a Waiver of such Accelerated Amortisation Event), the excess (if any) of (a) the Adjusted Aggregate Asset Amount Outstanding as of the Calculation Date immediately preceding such Payment Date over(b) the Aggregate Note Principal Amount Outstanding of the Class B Notes as of the Calculation Date immediately preceding such Payment Date (such excess amount, the "Regular Class A Target Amount") or (ii) if an Accelerated Amortisation Event exists on such Calculation Date (and there has not been a Waiver of such Accelerated Amortisation Event), the Regular Class A Target Amount minus an amount equal to the aggregate of (a) the amount (if any) which would be payable on such Payment Date by the Issuer in respect of the Subordinated Loan in the absence of a continuing Accelerated Amortisation Event and (b) the amount (if any) of Deferred Consideration which would be payable to the Seller on such Payment Date in the absence of a continuing Accelerated Amortisation Event;

Class A Target Principal Amount means, with respect to any Payment Date or the immediately preceding Cut-Off Date: