Class C Principal Payment Amount means the lesser of (i) the excess, if any, of (a) the Total Principal Payment Amount over (b) the sum of the Class A Principal Payment Amount and the Class B Principal Payment Amount and (ii) the excess, if any, of (a) the Principal Amount of the Class C Notes over (b) the greater of (1) the Class C Target Principal Amount and (2) the Class C Floor, if any; provided, however, that in no event will the Class C Principal Payment Amount exceed the Principal Amount of the Class C Notes.
Class C 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), (ii) the Outstanding Amount of the Class B Notes (after taking into account distribution of the Class B Principal Payment Amount on such Payment Date) and (iii) the Outstanding Amount of the Class C Notes immediately prior to such Payment Date minus (b) the lesser of (i) 95.10% 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 C Final Scheduled Payment Date, the Class C Principal Payment Amount shall not be less than the amount that is necessary to pay the Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any Payment Date shall not exceed the Outstanding Amount of the Class C Notes on that Payment Date.
Class C 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), (ii) the outstanding principal amount of the Class B notes (after taking into account distribution of the Class B Principal Payment Amount on that payment date) and (iii) the outstanding principal amount of the Class C notes immediately prior to that payment date MINUS (b) the lesser of (i) 94.5% of the aggregate principal balance of the receivables as of the last day of the related collection period MINUS (B) the Target Overcollateralization Level for such 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 C Principal Payment Amount will be an amount equal to (x) 100% of the Regular Allocation of Principal for that payment date MINUS (y) an amount equal to the sum of (1) the Class A Principal Payment Amount for that payment date PLUS (2) the Class B Principal Payment Amount for that payment date; PROVIDED, FURTHER, that on the final scheduled payment date of any class of Class C notes, the Class C Principal Payment Amount will not be less than the amount that is necessary to pay that class of Class C notes in full; and PROVIDED, FURTHER, that the Class C Principal Payment Amount on any payment date will not exceed the outstanding amount of the Class C notes on that payment date.
Examples of Class C Principal Payment Amount in a sentence
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.
The "Class C Principal Payment Amount" means, as at each Calculation Date, an amount equal to the lesser of (a) the Principal Amortisation Amount less (x) any Class A Principal Payment Amounts and Class B Principal Payment Amounts to be paid on the immediately following Payment Date and (y) any amounts payable under items (xii) and (xiv) of the Pre-Enforcement Order of Priority and (b) the then Principal Amount Outstanding of the Class C Notes.
More Definitions of Class C Principal Payment Amount
Class C 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 and Class B Principal Payment Amounts to be paid on the immediately following Payment Date and (b) the then Principal Amount Outstanding of the Class C Notes.
Class C Principal Payment Amount means, with respect to a Distribution Date,
Class C 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), (ii) the Outstanding Amount of the Class B Notes (after taking into account distribution of the Class B Principal Payment Amount on that Payment Date) and (iii) the Outstanding Amount of the Class C Notes immediately prior to that Payment Date MINUS (b) the lesser of (i) the Class C 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 C 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) an amount equal to the sum of (1) the Class A Principal Payment Amount for that Payment Date PLUS (2) the Class B Principal Payment Amount for that Payment Date; PROVIDED, FURTHER, that on the Final Scheduled Payment Date of Class C Notes, the Class C Principal Payment Amount will not be less than the amount that is necessary to pay Class C Notes in full; and PROVIDED, FURTHER, that the Class C Principal Payment Amount on any Payment Date will not exceed the Outstanding Amount of the Class C Notes on that Payment Date.
Class C Principal Payment Amount means, with respect to any Payment Date, an amount greater than or equal to zero and equal to (a) 100% of the Regular Principal Allocation for such Payment Date minus (b) an amount equal to the sum of (i) the Class A Principal Payment Amount for such Payment Date, and (ii) the Class B Principal Payment Amount for such Payment Date; provided, however, that, on the Class C Final Scheduled Payment Date, the Class C Principal Payment Amount shall not be less than the amount that is necessary to pay the Class C Notes in full; and provided, further, that the Class C Principal Payment Amount on any AA-11 Payment Date shall not exceed the Outstanding Amount of the Class C Notes on that Payment Date.
Class C Principal Payment Amount means, with respect to any Distribution Date and the Class C Notes, (a) $0 until the Principal Amount of the Class A-1 Notes has been paid in full, and (b) thereafter, the lesser of (i) the Principal Amount of the Class C Notes and (ii)(A) prior to the occurrence of any Event of Default, the difference between (1) the Principal Amount of the Class C Notes immediately prior to such Distribution Date, and (2) the greater of (x) the Class C Target Principal Amount and (y) the Class C Floor and (B) following the occurrence of an Event of Default, all remaining Available Amounts after payment has been made in accordance with Section 7.05(b)(i)-(xiii).
Class C Principal Payment Amount means (a) while the Class A-1 Notes are outstanding, zero and (b) after the outstanding Principal Amount on the Class A-1 Notes has been reduced to zero, the amount necessary to reduce the outstanding Principal Amount of the Class C Notes to the greater of the Class C Target Investor Principal Amount and the Class C Floor.
Class C Principal Payment Amount means (i) zero with respect to any Payment Date prior to the later of (a) the Payment Date in June 1999 or (b) the Payment Date on which the Class A-1 Principal Balance is reduced to zero, and (ii) with respect to any Payment Date thereafter, the excess, if any, of (a) the Class C Principal Balance over (b) the greater of (1) the Class C Target Principal Amount and (2) the Class C Floor, if any; provided, however, that in no event will the Class C Principal Payment Amount exceed the Class C Principal Balance.