Class B Principal Commencement Date definition

Class B Principal Commencement Date means the Distribution Date on which the Class A Invested Amount is to be paid in full.

Class B Principal Commencement Date means (a) with respect to ----------------------------------- the Accumulation Period, the first Distribution Date on which an amount equal to the Class A Invested Amount has been deposited in the Principal Funding Account and allocated to the Class A Certificates or (b) with respect to the Rapid Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full or, if there are no Available Investor Principal Collections allocable to the Investor Certificates remaining after payments have been made to the Class A Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full.

Class B Principal Commencement Date means the earliest of (a) the Class B Scheduled Payment Date, (b) the Distribution Date during the Early Amortization Period on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1998-2 Investor Certificates remaining after payments have been made to the Class A Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full and (c) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.4(d), 9.2, 10.2, 12.1 or 12.2 of the Agreement and Section 3 of this Series Supplement.

Examples of Class B Principal Commencement Date in a sentence

• On or After Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds for such prior Due Period $ 0.00 c.

• Prior to Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds for such prior Due Period $ 0.00 c.

• On or After Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds and Reserve Account Investment Proceeds for such prior Collection Period $ 0.00 c.

• On or After Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds for such prior Collection Period $ 0.00 c.

• Prior to Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds for such prior Collection Period $ 0.00 c.

More Definitions of Class B Principal Commencement Date

Class B Principal Commencement Date means the earlier to occur of (i) the Distribution Date on which an amount equal to the Class A Invested Amount has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Distribution Date) and (ii) the Distribution Date on which the Class A Invested Amount is paid in full.

Class B Principal Commencement Date shall be the first Distribution Date (1) for the Controlled Accumulation Period, on which an amount equal to the Class A Investor Interest has been deposited into the Principal Funding Account identified for the Series 05-2 Investor Beneficiary in respect of Class A; or (2) during the Regulated Amortisation Period or the Rapid Amortisation Period, on which the Class A Investor Interest has been reduced to zero;

Class B Principal Commencement Date shall have the meaning specified in subsection 4.7(b).

Class B Principal Commencement Date shall be the first Distribution Date (1) for the Controlled Accumulation Period, on which an amount equal to the Class A Investor Interest has been deposited into the Principal Funding Account identified for the Series 03-2 Investor Beneficiary in respect of Class A; or (2) during the Regulated Amortisation Period or the Rapid Amortisation Period, on which the Class A Investor Interest has been reduced to zero;

Class B Principal Commencement Date means the Distribution Date on which the Class A Investor Amount is paid in full; provided, that if the Class A Investor Amount is paid in full on the Class A Expected Final Distribution Date and the Rapid Amortization Period has not commenced, the Class B Principal Commencement Date shall mean the Class B Expected Final Distribution Date.

Class B Principal Commencement Date means (i) unless the Early ----------------------------------- Amortization Period shall have commenced or the Accumulation Period shall have been suspended in accordance with Section 4.16, the first Distribution Date on which the aggregate amount on deposit in the Principal Funding Account in respect of Class A Monthly Principal equals the outstanding principal balance of the Class A Certificates and (ii) if the Early Amortization Period shall have commenced or the Accumulation Period shall have been suspended in accordance with Section 4.16, the Distribution Date on which the Class A Certificates are paid in full.

Class B Principal Commencement Date means the first date on which principal is actually distributed to Class B Certificateholders.