Discounted Principal Balance definition

Discounted Principal Balance means in respect of an Auto Loan Receivable, its scheduled cash flow of principal and interest (including amounts of principal and interest that are overdue) discounted as of the relevant date at the Discount Rate on the basis of a year of three hundred and sixty (360) days consisting of twelve (12) thirty-day (30-day) months.
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Discounted Principal Balance means (i) with respect to any Discounted Contract, an amount equal to the present value of the sum of all remaining Monthly Lease Payments on such Contract paid on a timely basis, plus the Booked Residual Value of the related Leased Vehicle, calculated by discounting such Monthly Lease Payments by the Discount Rate, and (ii) with respect to any other Contract, its Outstanding Principal Balance at such time.
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Discounted Principal Balance means (i) with respect to any 1996-B Lease that is a Discounted Lease, an amount equal to the present value of the sum of all remaining Monthly Lease Payments on such Lease paid on a timely basis, plus the Booked Residual Value of the related 1996-B Leased Vehicle, calculated by discounting such Monthly Lease Payments and Booked Residual Value by the Discount Rate, and (ii) with respect to any other 1996-B Lease, its Outstanding Principal Balance at such time.
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Examples of Discounted Principal Balance in a sentence

  • In such case, the Subordinated Principal Balance will be reduced by an amount equal to the Discounted Principal Balance of such Uncollectable Auto Loan Receivables distributed in kind.

  • Fitch: Extend the advancing process VAT-RiskDowngrade of VW Bank's short-term rating to F3 by Fitch will result in an increase by 0.29% of the Cash Collateral Account of the Aggregate Discounted Principal Balance.

  • The principal amount of any Additional Subordinated Beneficial Interest will be equal to the aggregate Discounted Principal Balance of such Additional Auto Loan Receivables as of the Additional Cut- off Date minus the amount of the relevant Additional Senior Beneficial Interest, plus any amount, if any, on the Trust Calculation Date, which is the same date of the relevant Additional Entrustment Date credited to the Cash Collateral Ledger and carried over on the immediately preceding Trust Calculation Date.

  • The downgrade of VW Bank's long-term rating to below BBB- by Fitch and/or Baa3 by Moody's and/or VW Bank's short-term rating to below A-2 by S&P will result in a Set Off risk reserve being established if deposits by borrowers are greater than 1% of the Aggregate Discounted Principal Balance.

  • The principal amount of any Additional Subordinated Beneficial Interest will be equal to the aggregate Discounted Principal Balance of such Additional Auto Loan Receivables as of the Additional Cut-off Date minus the amount of the relevant Additional Senior Beneficial Interest, plus any amount, if any, on the Trust Calculation Date, which is the same date of the relevant Additional Entrustment Date credited to the Cash Collateral Ledger and carried over on the immediately preceding Trust Calculation Date.

  • This will trigger an increase of the Cash Collateral Account with an amount equal to 0.323% of the Aggregate Discounted Principal Balance at payment date, which is exclusively reserved to cover any VAT burden in case a replacement servicer is appointed.

  • Should any part of the equipment prove to be defective in material or workmanship within the 60-month warranty period, upon examination by the MANUFACTURER, such part will be repaired or replaced by MANUFACTURER at no charge.

  • In consideration for the Purchased Property, XXXX shall, on the Closing Date, pay to GMAC an amount equal to the Initial Aggregate Discounted Principal Balance in respect of the Receivables and GMAC shall execute and deliver to XXXX an assignment in the form attached hereto as Exhibit A (the "First Step Receivables Assignment").

  • Thereafter, a lengthy meeting was held in which I acted as the secretary of the meeting and prepared minutes that you subsequently reviewed in January of 2003.

  • The result provides an absolute value, which will be applied to the (amortized) Aggregate Discounted Principal Balance as of the end of the Monthly Period.


More Definitions of Discounted Principal Balance

Discounted Principal Balance means, as of any date of determination and with respect to a Facility Receivable, the present value of the Principal Balance of such Facility Receivable, discounted using the Discount Rate and the number of months remaining until the maturity of such Facility Receivable. For the purposes of this calculation, the number of months remaining until maturity means the greater of (i) 1, and (ii) the number of days from any date of determination to the 1-year anniversary of the origination of such Facility Receivable, divided by 30, and rounded to the nearest integer.
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Discounted Principal Balance. The Discounted Principal Balance means as of the end of any Monthly Period the present value of a single Purchased Receivable, or the relevant Purchased Receivables, remaining to be paid in the future, calculated using a discount rate equal to the Discount Rate. The Discounted Principal Balance includes for the avoidance of doubt Purchased Receivable(s) or portions of Purchased Receivable(s) which are still unpaid save that where any Purchased Receivable(s) have been written-off by the Servicer in accordance with its Customary Operating Practices as applicable from time to time, the Discounted Principal Balance of such Purchased Receivables shall be zero. Pre-Enforcement Order of Priority Prior to the delivery of an Enforcement Notice, the Available Distribution Amount will be applied by the Servicer in making the following payments in the following order of priority but in each case only to the extent that all payments of a higher priority have been made in full (the "Pre-Enforcement Order of Priority"):
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Discounted Principal Balance. With respect to any Mortgage Asset that as of the Cut-off Date is a Discounted Mortgage Asset, as of the Cut-off Date, an amount equal to the sum of all future Scheduled Payments (including any Balloon Payment) to become due thereon net of interest calculated at the aggregate of the Servicing Fee Rate and the Trustee Fee Rate, discounted to present value on a monthly basis at 7.25% per annum. With respect to any Mortgage Asset that became a Discounted Mortgage Asset as a result of the occurrence of an event described in clause (y) of the definition thereof, as of the related Discount Date, an amount equal to the sum of the Discounted Scheduled Payments to become due thereon (assuming for purposes hereof that all payments to become due thereon are the Discounted Scheduled Payments), discounted on a monthly basis at the Projected Net Mortgage Rate thereof.
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Related to Discounted Principal Balance

  • Stated Principal Balance As to each Mortgage Loan, (i) the principal balance of the Mortgage Loan at the related Cut-off Date after giving effect to payments of principal due on or before such date, whether or not received, minus (ii) all amounts previously distributed to the Purchaser with respect to the related Mortgage Loan representing payments or recoveries of principal or advances in lieu thereof.

  • Scheduled Principal Balance With respect to any Mortgage Loan: (a) as of the Cut-off Date, the outstanding principal balance of such Mortgage Loan as of such date, net of the principal portion of all unpaid Monthly Payments, if any, due on or before such date; (b) as of any Due Date subsequent to the Cut-off Date up to and including the Due Date in the calendar month in which a Liquidation Event occurs with respect to such Mortgage Loan, the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, minus the sum of (i) the principal portion of each Monthly Payment due on or before such Due Date but subsequent to the Cut-off Date, whether or not received, (ii) all Principal Prepayments received before such Due Date but after the Cut-off Date, (iii) the principal portion of all Liquidation Proceeds and Insurance Proceeds received before such Due Date but after the Cut-off Date, net of any portion thereof that represents principal due (without regard to any acceleration of payments under the related Mortgage and Mortgage Note) on a Due Date occurring on or before the date on which such proceeds were received and (iv) any Realized Loss incurred with respect thereto as a result of a Deficient Valuation occurring before such Due Date, but only to the extent such Realized Loss represents a reduction in the portion of principal of such Mortgage Loan not yet due (without regard to any acceleration of payments under the related Mortgage and Mortgage Note) as of the date of such Deficient Valuation; and (c) as of any Due Date subsequent to the occurrence of a Liquidation Event with respect to such Mortgage Loan, zero. With respect to any REO Property: (a) as of any Due Date subsequent to the date of its acquisition on behalf of the Trust Fund up to and including the Due Date in the calendar month in which a Liquidation Event occurs with respect to such REO Property, an amount (not less than zero) equal to the Scheduled Principal Balance of the related Mortgage Loan as of the Due Date in the calendar month in which such REO Property was acquired, minus the aggregate amount of REO Principal Amortization, if any, in respect of such REO Property for all previously ended calendar months; and (b) as of any Due Date subsequent to the occurrence of a Liquidation Event with respect to such REO Property, zero.

  • Adjusted Principal Balance As to any Distribution Date and any Class of Class B Certificates, the greater of (A) zero and (B) (i) the Principal Balance of such Class with respect to such Distribution Date minus (ii) the Adjustment Amount for such Distribution Date less the Principal Balances for any Classes of Class B Certificates with higher numerical designations.

  • Planned Principal Balance means for any Distribution Date, the balance shown for such Distribution Date on Schedule XVII.

  • Pool Scheduled Principal Balance As to any Distribution Date, the aggregate Scheduled Principal Balances of all Mortgage Loans that were Outstanding Mortgage Loans on the Due Date in the month preceding the month of such Distribution Date.

  • Unpaid Principal Balance With respect to any Mortgage Loan, the outstanding principal balance payable by the Borrower under the terms of the Mortgage Note.

  • Assumed Principal Balance As to each Mortgage Loan as of any date of determination, (i) the principal balance of the Mortgage Loan outstanding as of the Cut-off Date after application of payments due on or before the Cut-off Date, whether or not received, minus (ii) all amounts previously distributed to the Purchaser with respect to the Mortgage Loan pursuant to Subsection 11.15 and representing payments or other recoveries of principal.

  • Pool Stated Principal Balance As to any Distribution Date, the aggregate of the Stated Principal Balances of the Mortgage Loans for such Distribution Date that were Outstanding Mortgage Loans on the Due Date in the related Due Period.

  • Apportioned Principal Balance For any Class of Subordinated Certificates and any Distribution Date, an amount equal to the Class Certificate Balance of such Class immediately prior to that Distribution Date multiplied by a fraction, the numerator of which is the applicable Group Subordinate Amount for such Distribution Date and the denominator of which is the sum of the Group Subordinate Amounts for such Distribution Date.

  • Pool Principal Balance As to any Distribution Date, the aggregate of the Scheduled Principal Balances of the Mortgage Loans which were Outstanding Mortgage Loans on the Due Date in the month preceding the month of such Distribution Date.

  • Class Principal Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Class B-6 Principal Balance As to the first Determination Date, the Original Class B-6 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-6 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-second of Section 4.01(a) and (b) the Realized Losses allocated through such Determination Date to the Class B-6 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal Balance as of such Determination Date.

  • Average Principal Balance means for any Monthly Period in which a Reset Date occurs, the sum of (i) the Aggregate Principal Receivables determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Reset Date, and the denominator of which is the number of days in such Monthly Period, and (ii) for each such Reset Date, the product of the Aggregate Principal Receivables determined as of the close of business on such Reset Date, multiplied by a fraction, the numerator of which is the number of days from and including such Reset Date, to the earlier of the last day of such Monthly Period (in which case such period shall include such date) or the next succeeding Reset Date (in which case such period shall exclude such date), and the denominator of which is the number of days in such Monthly Period.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A-1 Principal Balance as of any date means the Class A‑1 Initial Principal Balance less all amounts paid to the holders of Class A‑1 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Class B-4 Principal Balance As to the first Determination Date, the Original Class B-4 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-4 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-4 Certificates on prior Distribution Dates (A) pursuant to Paragraph sixteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-4 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance and the Class B-3 Principal Balance as of such Determination Date.

  • Note A-6 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-6 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Distressed Principal Balance With respect to any Payment Date, the sum, without duplication, of the UPB of Reference Obligations that meet any of the following criteria: (a) Reference Obligations that are 60 days or more delinquent; (b) Reference Obligations that are in foreclosure, bankruptcy, or REO status; or (c) Reference Obligations that were modified in the 12 months preceding the end of the related Reporting Period. DTC: The Depository Trust Company, a limited-purpose trust company, which holds securities for DTC Participants and facilitates the clearance and settlement of transactions between DTC participants through electronic book-entry changes in accounts of DTC participants. DTC Participants: Participants in the DTC System. DTC Notes: Notes cleared, settled and maintained on the DTC System, registered in the name of a nominee of DTC. All of the Notes will be DTC Notes at issuance.

  • Note B Principal Balance means, at any time of determination, the Initial Note B Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

  • Aggregate Stated Principal Balance As to any Distribution Date, the aggregate of the Stated Principal Balances for all Mortgage Loans (and when such term is used with respect to a particular Mortgage Pool, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Mortgage Pool) which were outstanding on the Due Date in the month preceding the month of such Distribution Date.

  • Note A-8 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-8 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-8 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A-4 Principal Balance as of any date means the Class A‑4 Initial Principal Balance less all amounts paid to the holders of Class A‑4 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Note A-4 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-4 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-4 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class B-3 Principal Balance As to the first Determination Date, the Original Class B-3 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-3 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-3 Certificates on prior Distribution Dates (A) pursuant to Paragraph thirteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-3 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance and the Class B-2 Principal Balance as of such Determination Date.

  • Class B-5 Principal Balance As to the first Determination Date, the Original Class B-5 Principal Balance. As of any subsequent Determination Date, the Original Class B-5 Principal Balance less the sum of all amounts previously distributed in respect of the Class B-5 Certificates on prior Distribution Dates (A) pursuant to Paragraph fifteenth of Section 4.01(a)(ii) and (B) as a result of a Principal Adjustment; provided, however, if the Class B-5 Certificates are the most subordinate Certificates outstanding, the Class B-5 Principal Balance will equal the difference, if any, between the Aggregate Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Aggregate Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance and the Class B-4 Principal Balance as of such Determination Date.