Note Monthly Principal Distributable Amount definition
Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.
Note Monthly Principal Distributable Amount means, for any Payment Date, the Principal Distributable Amount; provided, that the Note Monthly Principal Distributable Amount shall not exceed the aggregate outstanding principal balance of the Notes; provided, further, that on (i) the Class A-1 Note Final Payment Date, the Note Monthly Principal Distributable Amount will at least equal the outstanding principal balance of the Class A-1 Notes, (ii) the Class A-2 Note Final Payment Date, the Note Monthly Principal Distributable Amount will at least equal the outstanding principal balance of the Class A-2 Notes, (iii) the Class A-3 Note Final Payment Date, the Note Monthly Principal Distributable Amount will at least equal the outstanding principal balance of the Class A-3 Notes and (iv) the Class A-4 Note Final Payment Date, the Note Monthly Principal Distributable Amount will at least equal the outstanding principal balance of the Class A-4 Notes.
Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the amount necessary to be paid on the Notes to reduce the Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount) to an amount equal to the Asset Balance for that Payment Date, less the amount of the excess, if any, of the Asset Balance at the beginning of the prior Collection Period over the Outstanding Amount of the Notes as of, and after giving effect to the distributions on, the previous Payment Date; provided that (a) the Note Monthly Principal Distributable Amount shall not exceed the aggregate Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount) and (b) on the final maturity date for each Class of Notes, the Note Monthly Principal Distributable Amount will at least equal the amount necessary to repay the Outstanding Amount of that Class of Notes and of any other Class of Notes payable prior to that Class of Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount). For purposes of this definition only, the A-1 Notes, A-2 Notes, A-3 Notes and the A-4 Notes shall each be deemed to be a separate Class of Notes.
More Definitions of Note Monthly Principal Distributable Amount
Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the amount necessary to be paid on the Notes to reduce the Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount) to an amount equal to the Asset Balance for that Payment Date, less the amount of the excess, if any, of the Asset Balance at the beginning of the prior Collection Period over the Outstanding Amount of the Notes as of, and after giving effect to the distributions on, the previous Payment Date; provided that (a) the Note Monthly Principal Distributable Amount shall not exceed the aggregate Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount) and (b) on the final scheduled maturity date for the Class B Notes, the Note Monthly Principal Distributable Amount will at least equal the amount necessary to repay the Outstanding Amount of that Class of Notes and of any other Class of Notes payable prior to that Class of Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount).
Note Monthly Principal Distributable Amount means, for any payment date, the amount necessary to be paid on the notes to reduce the outstanding principal amount of the notes (after giving effect to payments on the Class A Notes to be made pursuant to clause (4) above on that payment date) to an amount equal to the Asset Balance for that payment date, less the amount of the excess, if any, of the Asset Balance as of the beginning of the prior Collection Period over the outstanding principal amount of the notes as of, and after giving effect to the distributions on, the previous payment date, except that (a) the Note Monthly Principal Distributable Amount will not exceed the aggregate outstanding principal balance of the notes (after giving effect to payments on the Class A Notes to be made pursuant to clause (4) above on that payment date) and (b) on the final maturity date for each class of notes, the Note Monthly Principal Distributable Amount will at least equal the amount necessary to repay the outstanding principal balance of that class of notes and any other class of notes payable prior to that class of notes (after giving effect to payments on the Class A Notes to be made pursuant to clause (4) above on that payment date).
Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the amount, if any, necessary to be paid on the Notes to reduce the Outstanding Amount of the Notes to an amount equal to the (1) Asset Balance for that Payment Date less (2) the amount of the excess, if any, of (i) the Asset Balance for the previous Payment Date (or, in the case of the first Payment Date, the Pool Balance as of the Cut-off Date) over (ii) the outstanding principal amount of the Notes after giving effect to the distributions on the previous Payment Date (or, in the case of the first Payment Date, the principal amount of the Notes as of the Closing Date); provided that (a) the Note Monthly Principal Distributable Amount shall not exceed the aggregate Outstanding Amount of the Notes, and (b) on the Class Final Scheduled Maturity Date for each Class of Notes, the Note Monthly Principal Distributable Amount shall at least equal the amount necessary to reduce the outstanding principal balance of such Class to zero.
Note Monthly Principal Distributable Amount means, for any payment date, the amount, if any, necessary to be paid on the notes to reduce the outstanding principal amount of the notes to an amount equal to (1) the Asset Balance for that payment date less
Note Monthly Principal Distributable Amount means, for any payment date, the amount necessary to be paid
Note Monthly Principal Distributable Amount means, with respect to any Distribution Date, the Note Percentage of the Principal Distributable Amount for such Distribution Date.
Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the amount necessary to be paid on the Notes to reduce the Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount to reduce such Outstanding Amount) to an amount equal to the Asset Balance for that Payment Date; provided that the Note Monthly Principal Distributable Amount shall not exceed the aggregate Outstanding Amount of the Notes; provided, further, that on the Class Final Scheduled Maturity Date for each Class of Notes, the Note Monthly Principal Distributable Amount will at least equal the amount necessary to repay the Outstanding Amount of that Class of Notes and of any other Class of Notes payable prior to that Class of Notes. For purposes of this definition only, the ▇-▇ ▇▇▇▇▇, ▇-▇ ▇▇▇▇▇, ▇-▇ Notes and the A-4 Notes shall each be deemed to be a separate Class of Notes.