First Extension Principal Payment definition

First Extension Principal Payment means a constant amount determined by (a) adding the principal portion (only) of the amortizing payments which would have been due during the first Extension Term had Borrower made monthly payments of principal and interest during said twelve month period based on a 26-year amortization schedule, the principal balance of the Loan on the first day of the first Extension Term (taking into effect any prepayments thereof required to satisfy the Extension Conditions) and the Contract Rate and (b) dividing the sum calculated under clause (a) by 12.
Sample 1

Related to First Extension Principal Payment

  • Senior Principal Payment Amount For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 57.60% 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 Initial Cut-off Date (including amounts in the Prefunding Account as of the Closing Date).

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Principal Payment Amount For any Distribution Date, an amount equal to the related Principal Remittance Amount for such date minus the related Overcollateralization Release Amount, if any, for such date.

  • Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).

  • Expected Principal Payment Date means April 15, 2010.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Principal Payments means all payments of principal made pursuant to the terms of the Note.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Loan Payment Date means any date on which any Bond Service Charges are due and payable.

  • Class B Final Scheduled Payment Date means the Payment Date occurring in June 2021.

  • Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Payment Date for a Class of Notes or the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2020.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Class A-1 Final Scheduled Payment Date means the Payment Date occurring in August 2024.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Class D Final Scheduled Payment Date means the Payment Date occurring in April 2021.

  • Class A-3 Final Scheduled Payment Date means the Payment Date occurring in April 2027.

  • Class C Final Scheduled Payment Date means the Payment Date occurring in December 2024.

  • Term Loan Installment Date means any Term B Loan Installment Date or any Incremental Term Loan Installment Date.

  • Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A.

  • Class A-4 Final Scheduled Payment Date means the June 16, 2025 Payment Date.

  • Deferred Payment Date for a Participant means the date after the Restricted Period which is the earlier of (i) the date which the Participant has elected to defer receipt of Restricted Shares in accordance with Section 4.4 of this Restricted Share Plan; and (ii) the Participant’s Separation Date.

  • Scheduled Principal Payment Amount means, for any Payment Date, an amount equal to the excess of (a) the Note Principal Amount on such Payment Date over (b) the Scheduled Note Principal Amount for such Payment Date.

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date, the Certificate Percentage of the Principal Distributable Amount for such Payment Date.