Controlled Accumulation Period Length has the meaning specified in subsection 4.03(c).
Controlled Accumulation Period Length will mean a number of whole months such that the amount available for payment of principal on the Notes on the Expected Principal Payment Date is expected to equal or exceed the Note Principal Balance, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the twelve preceding Monthly Periods, (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Early Amortization Event with respect to any Series will subsequently occur and (4) no additional Series (other than any Series being issued on such date of determination) will be subsequently issued. Any notice by Issuer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.13 shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Controlled Accumulation Amount with respect to each Monthly Period during the Controlled Accumulation Period.
Controlled Accumulation Period Length will mean a number of whole months such that the amount available for distribution of principal on the Class A Notes, the Class M Notes, the Class B Notes and the Class C Notes on the Expected Principal Payment Date is expected to equal or exceed the Note Principal Balance, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the twelve preceding Monthly Periods (or such lower payment rate as Servicer may select), (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Early Amortization Event with respect to any Series will subsequently occur and (4) no additional Series (other than any Series being issued on such date of determination) will be subsequently issued; provided that the Servicer may on any Determination Date increase the Controlled Accumulation Period Length calculated as described in the preceding sentence by either 1 month or 2 months. Any notice by Servicer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.14 shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Controlled Accumulation Amount with respect to each Monthly Period during the Controlled Accumulation Period. The Servicer shall calculate the Controlled Accumulation Period Length on each Determination Date prior to the May 2014 Determination Date as necessary to determine the Reserve Account Funding Date.
Examples of Controlled Accumulation Period Length in a sentence
Any notice by Issuer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.13 shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Controlled Accumulation Amount with respect to each Monthly Period during the Controlled Accumulation Period.
Any notice by the Issuer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.12 shall specify (i) the Controlled Accumulation Period Length and (ii) the commencement date of the Controlled Accumulation Period.
Any notice by Servicer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.13 shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Controlled Accumulation Amount with respect to each Monthly Period during the Controlled Accumulation Period.
Controlled Accumulation Period Length in months (scheduled) 5.00 b.
Controlled Accumulation Period Length in months (scheduled) 1.00 b.
More Definitions of Controlled Accumulation Period Length
Controlled Accumulation Period Length has the meaning specified in Section 4.06(c).
Controlled Accumulation Period Length is defined in Section 4.14.
Controlled Accumulation Period Length shall have the meaning specified in Clause 5.11(f);
Controlled Accumulation Period Length if applicable, shall have the meaning set forth in Section 18.
Controlled Accumulation Period Length will mean a number of months such that the amount available for distribution of principal on the Class A Certificates on the Class A Scheduled Payment Date is expected to equal or exceed the Class A Investor Interest, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the twelve preceding Monthly Periods (or such lower payment rate as Servicer may select), (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Pay Out Event with respect to any Series will subsequently occur during the Controlled Accumulation Period and (4) no additional Series (other than any Series being issued on such date of determination) will subsequently be issued during the Controlled Accumulation Period. On each Determination Date on which the Controlled Accumulation Period Length is modified pursuant to this Section 4.8(d), the Servicer shall also determine the related Controlled Accumulation Amount, which shall be an amount not less than (x) the Class A Investor Interest on such date, divided by (y) the Controlled Accumulation ------- -- Period Length determined on such date.
Controlled Accumulation Period Length will mean a number of months such that the amount available for distribution of principal first, on the Class A Certificates on the Class A Scheduled Payment Date, second, on the Class B Certificates on the Class B Scheduled Payment Date, and third, on the Collateral Interest on the Collateral Interest Scheduled Payment Date is expected to equal or exceed the Class A Investor Interest, the Class B Investor Interest and the Collateral Interest, respectively, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the nine preceding Monthly Periods (or such lower payment rate as the Servicer may select), (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Pay Out Event with respect to any Series will subsequently occur and (4) no additional Series (other than any Series being issued on such date of determination) will be subsequently issued. Any notice by the Servicer electing to modify the commencement of the Controlled Accumulation Period pursuant to this clause (i) shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Class A Controlled Accumulation Amount, the Class B Controlled Accumulation Amount, and the Collateral Interest Controlled Accumulation Amount with respect to each Monthly Period during the Controlled Accumulation Period.
Controlled Accumulation Period Length will mean a number of months such that the amount available for distribution of principal on the Class A Certificates on the Class A Scheduled Payment Date is expected to equal or exceed the Class A Investor Interest, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the twelve preceding Monthly Periods (or such lower payment rate as Servicer may select), (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Pay Out Event with respect to any Series will subsequently occur during the Controlled Accumulation Period and (4) no additional Series (other than any Series being issued on such date of determination) will subsequently be issued during the Controlled Accumulation Period.