Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the greater of (1) the sum of (x) the total amount of Principal Receivables in the Trust at the end of the day on such date (or with respect to the first Monthly Period, at the end of the day on the Closing Date) and (y) the principal amount on deposit in the Excess Funding Account as of the end of the day on such date and (2) the sum of the numerators used to calculate the Series Percentages (as such term is defined in the Agreement) with respect to Finance Charge Receivables or Defaulted Receivables, as applicable, for all Series then outstanding; provided, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer need not make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be the Average Principal Balance; provided further, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer is required to make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be (1) for the period from and including the first day of such Monthly Period to but excluding the related Addition Date, the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period and (2) for the period from and including the related Addition Date to and including the last day of such Monthly Period, the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date.
Floating Allocation Percentage. The Invested Amount set forth in paragraph 2.C.(b) above as a percentage of the aggregate amount of Principal Receivables set forth in paragraph 2.C.(a) above Class A Class B Excess Collateral Amt. -------- Total
Floating Allocation Percentage means, with respect to the Series 2021-1 Notes, the Series 2021-1 Floating Allocation Percentage and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes.
Examples of Floating Allocation Percentage in a sentence
The Servicer shall allocate to the Series 2024-2 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 2024-2 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.
The Servicer shall allocate to the Series 2024-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 2024-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.
More Definitions of Floating Allocation Percentage
Floating Allocation Percentage means, for or in respect of the Series 1997-1 Ownership Interest for any month, the fraction, expressed as a percentage, the numerator of which is the invested amount of the Series 1997-1 Ownership Interest at the end of the immediately preceding month, and the denominator of which is the Pool Balance at the end of the immediately preceding month.
Floating Allocation Percentage means for any date of ------------------------------ determination the sum of the applicable Class A Floating Allocation Percentage, the applicable Class B Floating Allocation Percentage and the applicable Excess Collateral Floating Allocation Percentage.
Floating Allocation Percentage means, with respect to any Series, the floating allocation percentage specified in the related Supplement.
Floating Allocation Percentage means, with respect to the Series [•] Notes, the Series [•] Floating Allocation Percentage and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes.
Floating Allocation Percentage means, with respect to any day during a Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Allocation Amount as of the last day of the preceding Monthly Period (or in the case of the first Monthly Period, the Initial Note Principal Balance) and the denominator of which is the product of (x) the Series 2004-One Allocation Percentage with respect to such Monthly Period and (y) the greater of (A) the sum of (i) the total amount of Principal Receivables as of such day (or with respect to the first Monthly Period, the total amount of Principal Receivables on the Closing Date), (ii) the Special Funding Amount as of such last day (or with respect to the first Monthly Period, the Closing Date) and (iii) the amount of Collections of Principal Receivables on deposit in the Collection Account as of such last day (or with respect to the first Monthly Period, as of the Closing Date) and (B) the sum of the numerators used to determine the series allocation percentages with respect to Collections of Finance Charge Receivables for all Series of Notes Outstanding; provided, however, that with respect to any Monthly Period in which one or more Reset Dates occurs, the Floating Allocation Percentage shall be recalculated as provided above but as of such Reset Date, for the period from and after the date on which any such Reset Date occurs to but excluding the date, if any, that another such Reset Date occurs or, if no other Reset Date occurs during such Monthly Period, to and including the last day of such Monthly Period.
Floating Allocation Percentage means for any Business Day, the sum of the Class A Floating Allocation Percentage, the Class B Floating Allocation Percentage, the Class C Floating Allocation Percentage and the Class D Floating Allocation Percentage.
Floating Allocation Percentage. With respect to any Payment Date is the percentage equivalent of a fraction with a numerator equal to the Invested Amount for the previous Payment Date (in the case of the first Payment Date, the Invested Amount as of the Closing Date) and a denominator equal to the Pool Balance at the beginning of the related Due Period (in the case of the first Payment Date, the Cut-Off Date Pool Principal Balance).