Net Principal Balance definition

Net Principal Balance means, with respect to any Precomputed Auto Loan, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon.

Net Principal Balance means, with respect to a Medallion Loan, the unpaid principal balance of a Medallion Loan less the principal amount of any Permitted Junior Participation Interest in such Medallion Loan.

Net Principal Balance as of any date of determination, the Principal Balance as of such date less (i) prior to the Paging Partners Merger Closing Date, the aggregate undrawn face amount of the Letters of Credit and (ii) from and after the Paging Partners Merger Closing Date, zero.

Examples of Net Principal Balance in a sentence

• Any cost incurred by the Servicer in maintaining any such insurance shall not, for the purpose of calculating the outstanding balance of any Medallion Loan under the Loan Agreement or any other Loan Document, be added to the Net Principal Balance of the related Medallion Loan, notwithstanding that the terms of such Medallion Loan so permit.

• In any of the foregoing instances, the Borrower shall accept the release of each such Ineligible Receivable from the Administrative Agent, and the Aggregate Net Principal Balance shall, if applicable, be increased by the Principal Balance of each such Substitute Receivable.

• The Net Principal Balance of pre-computed Contracts shall equal the payoff balance of such Contracts less unearned finance charges as of the Cutoff Date.

• For purposes of determining the Purchase Price, the Net Principal Balance of each Contract shall not include administrative charges, late payment fees, NSF fees, accrued interest or other charges that are not considered part of the original principal balance.

• Permit the ratio, at any time, of the Administrative Value of the Timberlands to the Net Principal Balance at such time to be less than 1.33 to 1.00.

More Definitions of Net Principal Balance

Net Principal Balance with respect to any Precomputed Receivable, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon. Net Unrealized Amount: (a) with respect to any Liquidated Receivable, the Unpaid Principal Balance of such Auto Loan minus the sum of (i) any repossession proceeds allocable to principal actually received on such Auto Loan, (ii) any insurance proceeds allocable to principal actually received from a claim with respect to such Auto Loan and (iii) refunds received from the cancellation of any insurance policies or service contracts with respect to such Auto Loan, and (b) with respect to any Auto Loan where the related Obligor is in bankruptcy, the amount of losses allocable to principal incurred thereon.

Net Principal Balance means, with respect to a Medallion Loan, the unpaid principal balance of a Medallion Loan less the principal amount of any Permitted Junior Participation Interest in such Medallion Loan; provided, however, that if the Loan-to-Value Ratio of any Category IV Medallion Loan exceeds 90% at any time, the Net Principal Balance of such Category IV Medallion Loan for the purpose of determining the Collateral Value of such Category IV Medallion Loan shall equal 90% of the Medallion Valuation Amount for such Category IV Medallion Loan.

Net Principal Balance. The amount set forth as such on the Master Contract Schedule determined in accordance with Section 2.1 of this Agreement.

Net Principal Balance with respect to any Precomputed Receivable, the Net Payoff Balance as of the due date of the last full Scheduled Payment, or if more recent, the due date of the last periodic payment of principal thereon. Noteholder: at any time, any Person in whose name a Note is registered in the Note Register.

Net Principal Balance. On any day with respect to the Pledged Contracts that are Eligible Contracts on such day, (i) the aggregate Principal Balance of such Contracts, minus (ii) the Excess Concentration Amount as of such day.

Net Principal Balance means, as of any date and for any Receivable, an amount equal to (i) unless clauses (ii), (iii) or (iv) shall apply, 100% of the Principal Balance of such Receivable, (ii) if more than 50% of any Scheduled Payment remains unpaid for more than 30 days but not more than 60 days from the related due date for such Receivable and such Receivable is not a Defaulted Receivable, a Delinquent Receivable or an Excluded Receivable, an amount equal to 65% of the Principal Balance of such Receivable, (iii) if more than 50% of any Scheduled Payment remains unpaid for more than 60 days but not more than 90 days from the related due date for such Receivable and such Receivable is not a Defaulted Receivable, a Delinquent Receivable or an Excluded Receivable, an amount equal to 45% of the Principal Balance of such Receivable, or (iv) if such Receivable is a Defaulted Receivable, a Delinquent Receivable or an Excluded Receivable, an amount equal to 0% of the Principal Balance of such Receivable.

Net Principal Balance at any time, the outstanding principal amount of the Note minus the Escrow Amount.