First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period; provided, however, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.
First Allocation of Principal means, with respect to any payment date, an amount equal to the excess, if any, of (x) the Note Balance of the Class A notes as of that payment date (before giving effect to any principal payments made on the Class A notes on that payment date) over (y) the Pool Balance as of the end of the related Collection Period; provided, however, that the First Allocation of Principal for any payment date on and after the final scheduled payment date for any class of Class A notes will not be less than the amount that is necessary to reduce the Note Balance of that class of Class A notes to zero.
First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Note Balance of the Class A Notes as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Net Pool Balance as of the end of the related Collection Period; provided, however, that the “First Allocation of Principal” shall not exceed the Note Balance of the Class A Notes; provided, further, that the “First Allocation of Principal” for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.
Examples of First Allocation of Principal in a sentence
NOTE BALANCE CALCULATION {11} Original Note Balance{11} {12}{13}{14}{15}{16}{17}{18}{19} Beginning of period Note Balance First Allocation of Principal Second Allocation of Principal Third Allocation of Principal Fourth Allocation of Principal Fifth Allocation of Principal Regular Allocation of PrincipalOptional Purchase payment amount {12}{13}{14}{15}{16}{17}{18}{19} {20} End of period Note Balance{20} {21} Note Pool Factors{21} {22} Principal payment per $1,000{22} III.
The First Allocation of Principal, Second Allocation of Principal, Third Allocation of Principal, Fourth Allocation of Principal, Fifth Allocation of Principal and Regular Allocation of Principal will be paid to the holders of the notes as described under “The Notes—Payments of Principal” in this prospectus.
The First Allocation of Principal, Second AllocationClass B notes: Class C notes: Class D notes: Class E notes:Subordination of payments on the Class C notes, the Class D notes and the Class E notes, overcollateralization, the reserve account and excess interest on the receivables.Subordination of payments on the Class D notes and the Class E notes, overcollateralization, the reserve account and excess interest on the receivables.
Respondents replied to the Securities Division by email on September 24, 2020.
More Definitions of First Allocation of Principal
First Allocation of Principal means, for any Payment Date and the related Collection Period, an amount not less than zero equal to the excess, if any, of (i) the Class A Note Balance as of the preceding Payment Date (after giving effect to all principal payments made on that preceding Payment Date or with respect to the first Payment Date, as of the Closing Date) over (ii) the Pool Balance as of the last day of such Collection Period; provided, that the First Allocation of Principal on and after (a) the Class A-1 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-1 Note Balance to zero, (b) the Class A-2 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-2 Note Balance to zero, (c) the Class A-3 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-3 Note Balance to zero and (d) the Class A-4 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-4 Note Balance to zero.
First Allocation of Principal means, with respect to any Payment Date, the excess, if any, of (x) the aggregate Outstanding Amount of the Class A Notes (as of the day immediately preceding such Payment Date) over (y) the Pool Balance for such Payment Date.
First Allocation of Principal means, for any Payment Date, an amount not less than zero equal to the excess, if any, of (a) the Note Balance of the Class A Notes as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Adjusted Pool Balance as of the last day of the related Collection Period; provided, further, that the “First Allocation of Principal” for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.
First Allocation of Principal on the Final Scheduled Payment Date for any Class of Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Notes to zero.
First Allocation of Principal means, with respect to any specified Payment Date, the Noteholders’ Parity Deficit Amount for such Payment Date; provided, however, that the “First Allocation of Principal” shall not exceed the Note Balance of the Class A Notes; provided, further, that the “First Allocation of Principal” on the Final Scheduled Payment Date for any Class of Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Notes to zero.
First Allocation of Principal means, for any Payment Date, an amount not less than zero equal to the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the First Allocation of Principal on and after the Final Scheduled Payment Date for any Class of Notes will not be less than the amount that is necessary to reduce the Note Balance of that Class of Notes to zero (after the application of the First Allocation of Principal).
First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance for the Collection Period immediately preceding such Payment Date; provided, however, that the First Allocation of Principal shall not exceed the Class A Note Balance of the Class A Notes (before giving effect to any principal payments made on the Class A Notes on such Payment Date); provided, further, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that class of Notes to zero.