Monthly Principal definition

Monthly Principal is defined in Section 4.1(d).

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Monthly Principal means the monthly principal distributable in respect of the Notes as calculated in accordance with Section 4.03.

Monthly Principal shall have the meaning specified in Section 4.3.

Examples of Monthly Principal in a sentence

• During the Rapid Amortization Period, in addition to Class A Monthly Interest, Class A Monthly Principal will be distributed to the Class A Certificateholders on each Distribution Date commencing in the month following the commencement of the Rapid Amortization Period until the Class A Certificates have been paid in full.

• During the Accumulation Period, the portion of Available Investor Principal Collections not applied to Class A Monthly Principal, Class B Monthly Principal or Excess Collateral Monthly Principal on a Transfer Date will generally be treated as Excess Principal Collections.

• During the Accumulation Period, the portion of Available Investor Principal Collections not applied to Class A Monthly Principal, Class B Monthly Principal or CIA Monthly Principal on a Transfer Date will generally be treated as Excess Principal Collections.

• During the Rapid Amortization Period, in addition to Class B Monthly Interest, Class B Monthly Principal will be distributed to the Class B Certificateholders on each Distribution Date commencing in the month on which the Class A Investor Interest is paid in full.

• If the aggregate principal amount of deposits made to the Principal Funding Account are insufficient to pay in full the Class A Invested Amount on the Class A Scheduled Payment Date the Rapid Amortization Period will commence and on each Distribution Date thereafter until the Class A Invested Amount is paid in full, the Class A Certificateholders will receive distributions of Class A Monthly Principal and Class A Monthly Interest.

More Definitions of Monthly Principal

Monthly Principal means the monthly principal distributable in ----------------- respect of the Series 1996-8 Certificates as calculated in accordance with Section 4.07 of the Agreement.

Monthly Principal. The principal portion of any Monthly Payment.

Monthly Principal means the monthly principal distributable in respect of the Notes and the O/C Amount as calculated in accordance with Section 4.03.

Monthly Principal means the monthly principal distributable in respect of the Series 2024- CRT4 Notes as calculated in accordance with Section 4.03.

Monthly Principal for any Payment Date will equal the sum of the following:

Monthly Principal means the amount of principal which is payable to the Noteholders on any Payment Date pursuant to the terms of the Indenture.

Monthly Principal means, with respect to any Payment Date, an amount equal to the excess of (a) the Aggregate Discounted Contract Balance at the close of business on the last day of the second preceding Collection Period over (b) the Aggregate Discounted Contract Balance at the close of business on the last day of the immediately preceding Collection Period.