Definition of Note Monthly Principal Distributable Amount


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, 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.

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.

Examples of Note Monthly Principal Distributable Amount in a sentence

For purposes of distributions from the Reserve Account pursuant to Section 5.05(e) of the Sale and Servicing Agreement, any portion of the Note Monthly Principal Distributable Amount shall be deemed to be due on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Account and distributed with the priorities set forth in accordance with Section 5.04(b) of the Sale and Servicing Agreement.
For the avoidance of doubt, the Note Monthly Principal Distributable Amount, or any portion thereof, shall not be due (other than in accordance with the first sentence of this Section 2.07(b), the subsequent sentence of this Section 2.07(b), Section 5.02 and Section 10.03 of this Indenture), unless amounts are actually available to make such payments in accordance with Section 5.04(b) of the Sale and Servicing Agreement.
Note Monthly Principal Distributable Amount (the sum of items 3.a, 3.b, 3.c, 3.d and 3.e) $19,857,307.54 E.
Note Monthly Principal Distributable Amount (the sum of items 3.a, 3.b, 3.c, 3.d and 3.e) $14,138,442.71 E.
Note Monthly Principal Distributable Amount (the sum of items 3 (a), 3 (b), 3 (c), 3 (d), and 3 (e))$18,948,823.04 E.



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


Note Monthly Principal Distributable Amount means, for any Payment Date, the sum of (i) the Class A Monthly Principal Distributable Amount and (ii) the Class B Monthly Principal Distributable Amount; provided, that the Note Monthly Principal Distributable Amount shall not exceed the aggregate outstanding principal balance of the Class A Notes and the Class B 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 principal amount of the Notes 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 principal 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 principal 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 A-1 Notes, A-2 Notes, A-3 Notes and A-4 Notes shall each be deemed to be a separate Class of Notes.