Class B Principal Payment Amount means the lesser of (i) the excess, if any, of (a) the Total Principal Payment Amount over (b) the Class A Principal Payment Amount and (ii) the excess, if any, of (a) the Principal Amount of the Class B Notes over (b) the greater of (1) the Class B Target Principal Amount and (2) the Class B Floor, if any; provided, however, that in no event will the Class B Principal Payment Amount exceed the Principal Amount of the Class B Notes.
Class B Principal Payment Amount. With respect to the Class B Certificates and for any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class A-2, Class A-3, Class P, Class A-R, Class M-1 and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the aggregate Class Principal Balance of the Class B Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 88.50% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date.
Class B Principal Payment Amount means, with respect to any Payment Date, an amount equal to (a) the sum of (i) the Outstanding Amount of the Class A Notes (after taking into account distribution of the Class A Principal Payment Amount on such Payment Date) and (ii) the Outstanding Amount of the Class B Notes immediately prior to such Payment Date minus (b) the lesser of (i) 93.70% of the Pool Balance for such Payment Date and (ii) an amount equal to (A) the Pool Balance for such Payment Date minus (B) the Target Overcollateralization Level for such Payment Date; provided, however, that, on the Class B Final Scheduled Payment Date, the Class B Principal Payment Amount shall not be less than the amount that is necessary to pay the Class B Notes in full; and provided, further, that the Class B Principal Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class B Notes on that Payment Date.
Examples of Class B Principal Payment Amount in a sentence
The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the outstanding principal amount of the Class B Notes to the Class B Targeted Note Balance respectively.
The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the aggregate Principal Outstanding of the Class B Notes to the Class B Targeted Note Balance.
Rules of repayment of the Class B NotesThe repayment of the Class B Notes will be carried out on a pro rata basis among the Notes of such Class, by means of the reduction of their nominal value until redeemed in full, and will take place on each Payment Date, in the amount necessary to reduce on such Payment Date the Outstanding Nominal Balance of the Class B Notes to an amount equal to the Class B Targeted Note Balance (the "Class B Principal Payment Amount").
Principal payments from amounts on deposit in the Principal Distribution Account on each Payment Date will be allocated among the various classes of Notes in the following order of priority: (1) to the Class A Notes, the Class A Principal Payment Amount; (2) to the Class B Notes, the Class B Principal Payment Amount; (3) to the Class C Notes, the Class C Principal Payment Amount; and (4) to the Class D Notes, the Class D Principal Payment Amount.
Principal Payment Amounts On each Payment Date, to the extent of the Available Distribution Amount being sufficient and sub- ject to the Order of Priority (described below), the Issuer will pay to the Class A Noteholders an ag- gregate amount in respect of principal up to the Class A Principal Payment Amount and out of the amounts remaining from the Available Distribution Amount to the Class B Noteholders an aggregate amount in respect of principal up to the Class B Principal Payment Amount.
More Definitions of Class B Principal Payment Amount
Class B Principal Payment Amount. With respect to the Class B Certificates and for any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class A-2, Class P, Class A-R, Class M-1 and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class B Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 89.50% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut Date.
Class B Principal Payment Amount means, with respect to a Distribution Date,
Class B Principal Payment Amount means, as at each Calculation Date, an amount equal to the lesser of (a) the Principal Amortisation Amount less any Class A Principal Payment Amounts to be paid on the immediately following Payment Date and (b) the then Principal Amount Outstanding of the Class B Notes.
Class B Principal Payment Amount means, with respect to any payment date, an amount equal to (a) the sum of (i) the outstanding principal amount of the Class A notes (after taking into account distribution of the Class A Principal Payment Amount on that payment date) and (ii) the outstanding principal amount of the Class B notes immediately prior to that payment date MINUS (b) the lesser of (i) 92.5% of the aggregate principal balance of the receivables as of the last day of the related collection period and (ii) an amount equal to (A) the aggregate principal balance of the receivables as of the last
Class B Principal Payment Amount means, with respect to any Payment Date, an amount equal to (a) the sum of (i) the Outstanding Amount of the Class A Notes (after taking into account distribution of the Class A Principal Payment Amount on that Payment Date) and (ii) the Outstanding Amount of the Class B Notes immediately prior to that Payment Date minus (b) the lesser of (i) the Class B Target Advance Rate Percentage of the Pool Balance as of the last day of the related Collection Period and (ii) an amount equal to (A) the Pool Balance as of the last day of the related Collection Period minus (B) the Target Overcollateralization Level for that Payment Date; provided, however, that, for any Payment 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 Payment Date, the Class B Principal Payment Amount will be an amount equal to (x) 100% of the funds available in the Principal Distribution Account for that Payment Date minus (y) the Class A Principal Payment Amount for that Payment Date; provided, further, that on the Final Scheduled Payment Date of Class B Notes, the Class B Principal Payment Amount will not be less than the amount that is necessary to pay Class B Notes in full; and provided, further, that the Class B Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class B Notes on that Payment Date.
Class B Principal Payment Amount. With respect to any Payment Date on or after the Stepdown Date, as long as a Trigger Event has not occurred with respect to such Payment Date, an amount equal to the lesser of (x) the remaining Principal Payment Amount for that Payment Date after payment of the Class A Principal Payment Amount, the Class M-1 Principal Payment Amount, the Class M-2 Principal Payment Amount, the Class M-3 Principal Payment Amount, the Class M-4 Principal Payment Amount and the Class M-5 Principal Payment Amount and (y) the excess, if any, of (A) the sum of (1) the aggregate Class Principal Amount of the Class A-1 and Class A-2 Notes (after taking into account the payment of the Class A Principal Payment Amount for such Payment Date), (2) the Class Principal Amount of the Class M-1 Notes (after taking into account the payment of the Class M-1 Principal Payment Amount for such Payment Date), (3) the Class Principal Amount of the Class M-2 Notes (after taking into account the payment of the Class M-2 Principal Payment Amount for such Payment Date), (4) the Class Principal Amount of the Class M-3 Notes (after taking into account the payment of the Class M-3 Principal Payment Amount for such Payment Date), (5) the Class Principal Amount of the Class M-4 Notes (after taking into account the payment of the Class M-4 Principal Payment Amount for such Payment Date), (6) the Class Principal Amount of the Class M-5 Notes (after taking into account the payment of the Class M-5 Principal Payment Amount for such Payment Date) and (7) the Class Principal Amount of the Class B Notes immediately prior to such Payment Date, over (B) the lesser of (a) the product of (i) approximately 98.60% and (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans as of the last day of the related Collection Period, and (b) the aggregate Scheduled Principal Balance of the Mortgage Loans as of the last day of the related Collection Period minus the Overcollateralization Floor.
Class B Principal Payment Amount means, for any Payment Date, the amount that the Securities Administrator allocates to the Class B-R1 Certificates in reduction of such Class' Certificate Principal Amount pursuant to Section 7(a)(ii) on such Payment Date.