Class B Certificate Principal Balance definition

Class B Certificate Principal Balance means (i) on the Closing Date, $0, (ii) on any Acquisition Date, an amount equal to the excess, if any, of the Additional Receivables Transfer Amount for the Additional Receivables to be acquired by the Issuer on such Acquisition Date over the Additional Receivables Cash Transfer Amount for such Additional Receivables, and (iii) during the Amortization Period, $0; provided, that, with respect to clause (ii), immediately following the acquisition by the Depositor of Additional Receivables from the Originators on any Acquisition Date, and upon distribution by the Depositor to the Originators of the amounts set forth in Section 2.2(b) of the Originator Receivables Transfer Agreement, the Class B Certificate Principal Balance will be decreased to zero for such date.

Class B Certificate Principal Balance. As of any date of determination, the Certificate Principal Balance of the Class B Certificates.

Class B Certificate Principal Balance. As to any Distribution Date, the Initial Certificate Principal Balance for the Class B Certificates less the Class B Principal Distribution Amounts actually distributed to the holders of the Class B Certificates on previous Distribution Dates and reduced by any Applied Realized Loss Amounts allocated to such Class on prior Distribution Dates.

Examples of Class B Certificate Principal Balance in a sentence

• The Class B Certificate Principal Balance may be increased on any Acquisition Date as set forth in Section 3.10 of the Trust Agreement and as recorded on Schedule I hereto.

• The Class B Certificate shall be issued with a Class B Certificate Principal Balance initially of $0, which may be increased up to an amount equal to the Additional Receivables Transfer Amount for any Acquisition Date, as set forth in Section 3.10 and shall not bear interest.

• The Percentage Interest of each Class B Certificate as of any date of determination will be equal to the percentage obtained by dividing the original Certificate Principal Balance of such Class B Certificate on the Startup Day by the aggregate Class B Certificate Principal Balance on the Startup Day.

• Distributions will be made in immediately available funds to Owners of Certificates having an aggregate original Class B Certificate Principal Balance of at least $1,000,000 (by wire transfer or otherwise) to the account of an Owner at a domestic bank or other entity having appropriate facilities therefor, if such Owner has so notified the Trustee, or by check mailed to the address of the person entitled thereto as it appears on the Register.

• NUMBER R‑1 Initial Class B Certificate Principal Balance: $0 VERIZON MASTER TRUST THIS CERTIFIES THAT VERIZON ABS II LLC is the registered owner of this Class B Certificate, representing a fractional, undivided beneficial interest in Verizon Master Trust (the “Trust”) formed by Verizon ABS II LLC.

More Definitions of Class B Certificate Principal Balance

Class B Certificate Principal Balance. As of any time of determination, the Certificate Principal Balance as of the Startup Day of all Class B Certificates less the sum of (x) any amounts of the Class B Principal Distribution Amount actually distributed to the Owners of the Class B Certificates pursuant to Section 7.03(c) hereof on all prior Payment Dates and (y) the aggregate, cumulative amount of the Class B Applied Realized Loss Amounts on all prior Payment Dates, and increased by any Preference Amount previously distributed to the Owners of the Class B Certificates with respect to principal.

Class B Certificate Principal Balance. As of any time of determination and with respect to the Class B Certificates, the Certificate Principal Balance as of the Startup Day of all Class B Certificates plus any amount previously distributed thereon with respect to principal that is recovered as a voidable preference by a trustee in bankruptcy pursuant to a final, nonappealable order, less the sum of (x) any amounts of the Class B Principal Distribution Amount actually distributed to the Owners of such Class B Certificates pursuant to Section 7.03(b)(vii) hereof on all prior Payment Dates and (y) the aggregate, cumulative amount of the Class B Applied Realized Loss Amounts on all prior Payment Dates.

Class B Certificate Principal Balance means (i) on the Initial Closing Date, $0 and (ii) on any Acquisition Date, an amount equal to the excess, if any, of the Receivables Transfer Amount for the Receivables to be acquired by the Trust on such Acquisition Date over the Receivables Cash Transfer Amount for such Receivables; provided, that, with respect to clause (ii), immediately following the acquisition by the Depositor of Receivables from the Originators on any Acquisition Date, and upon distribution by the Depositor to the Originators of the amounts set forth in Section 2.2 of the Originator Receivables Transfer Agreement, the Class B Certificate Principal Balance will be decreased to zero for such date.

Class B Certificate Principal Balance means, with respect to the [Class [B]] Certificates as of any date of determination, the Initial Certificate Principal Balance thereof less all payments made with respect to the Certificates of such Class in accordance with Section 3.05(a)(iii) on previous Distribution Dates.

Class B Certificate Principal Balance. The Class B Certificate Principal Balance shall initially be $1,325,652.69 and shall be (x) increased on each Payment Date by the amount of any unpaid Class B Interest pursuant to Section 7.5(b)(xi) and (y) decreased on each Payment Date by the amounts of (i) the excess of any distributions to the Holders of the Class B Certificates on such Payment Date pursuant to Section 7.5(b)(ix), (xi) and (xii) over the Class B Interest for the related Payment Date, and (ii) the amount of any Allocable Losses allocated as a reduction of the Class B Certificate Principal Balance on such Payment Date pursuant to Section 7.10 hereof. The Class B Certificate Principal Balance in no event shall be less than zero.

Class B Certificate Principal Balance. With respect to any Distribution Date as to either Class of the Class B Certificates means the Initial Class B Certificate Principal Balance of such Class as reduced by the sum of (x) the sum of all Principal Distribution Amounts and Extra Principal Distribution Amounts actually distributed to the related Class B Certificateholders on all prior Distribution Dates and (y) the aggregate cumulative amount of related Class B Applied Realized Loss Amounts on all prior Distribution Dates, as indicated by the context.

Class B Certificate Principal Balance. As of any time of determination, the Original Certificate Principal Balance of the Class B Certificates less (i) any amounts actually distributed as part of the Class B Principal Distribution Amount pursuant to Section 7.5(b)(ii) hereof with respect to principal thereon on all prior Distribution Dates and (ii) the amount of any Applied Realized Loss Amount allocated as a reduction of the Class B Certificate Principal Balance on all prior Distribution Dates pursuant to Section 7.5(d) hereo The Class B Certificate Principal Balance shall in no event be less than zero.