Original Principal Balance definition

Original Principal Balance. Registered Owner: Final Scheduled $316,900,000 CEDE & CO. Distribution Date: April 25, 2032 Percentage Interest: 100% The registered owner named above is the registered owner of a fractional interest in (i) each Group I Mortgage Loan identified on the Mortgage Loan Schedule attached as Exhibit B to that certain Pooling and Servicing Agreement dated as of March 1, 2002 (the "Pooling and Servicing Agreement") by and among NovaStar Mortgage Funding Corporation, as the company (the "Company"), JPMorgan Chase Bank, as trustee (the "Trustee"), First Union National Bank as the certificate administrator (the "Certificate Administrator"), and NovaStar Mortgage, Inc. as servicer (the "Servicer") and as seller (the "Seller"), including the related Cut-off Date Principal Balance, all interest accruing thereon on and after the Cut-off Date and all collections in respect of interest and principal due after the Cut-off Date; (ii) property which secured each such Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure; (iii) the Company's interest in any insurance policies in respect of such Mortgage Loans; (iv) all proceeds of any of the foregoing; (v) the rights of the Company under the Purchase Agreement and (vi) all other assets included or to be included in the Trust Fund. Such assignment includes all interest and principal due to the Company or the Servicer after the Cut-off Date with respect to the Mortgage Loans.
Original Principal Balance means as to each Class of Master Certificates, the amount set forth with respect to such Class in Section 2.05(b).

Examples of Original Principal Balance in a sentence

  • For each loan, we computed the principal balance outstanding as of the respective loan’s Maturity Date based upon the respective loan’s Original Principal Balance, Monthly Debt Service, Original Loan Term (months), Interest Calculation and Gross Interest Rate.

  • Original Principal Balance Promissory Note The principal balance, as stated on the front page of the Promissory Note.

  • Subject to certain restrictions contained in the Indenture, (a) the Notes are issuable in the initial denomination of $250,000 and integral multiples of $1,000 in excess thereof (provided that one Note of each Class may be issued in an additional amount equal to any remaining portion of the applicable Original Principal Balance of such Class) and (b) Notes may be exchanged for a like aggregate principal amount of Notes of authorized denominations of the same maturity.

  • A computation from the Final Data File in which the number of payments required to fully amortize the loan was determined based upon the loan's respective Fixed Interest Rate divided by 12, Monthly Debt Service and Original Principal Balance.

  • With respect to Characteristic 19, we recomputed the Monthly Debt Service (IO) as one twelfth of the product of (i) the Original Principal Balance, (ii) the Note Rate and (iii) a fraction equal to 365/360.


More Definitions of Original Principal Balance

Original Principal Balance means, for any Class of Notes, the original principal balance (or, in the case of the Class A-IO Notes, the original Notional Amount) for such Class on the Closing Date, as set forth in Section 2.02 of the Indenture.
Original Principal Balance. ("Amount Financed") Outstanding Principal Balance ("Net Balance") Annual Percentage Rate ("APR") In addition, the information contained in the Schedule of Contracts shall also be contained on a computer disk or tape that shall be delivered by the Servicer to the Indenture Trustee not later than (i) the 5th Business Day following the Closing Date, with respect to the Funded Contracts and (ii) the 5th Business Day following the related Prefunding Transfer Date, with respect to the Prefunded Contracts.
Original Principal Balance. $165,000,000 THIS CERTIFIES THAT Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee for Capital One Auto Finance Trust 2002-C (the "Owner Trustee"), as the Owner Trustee, which term includes any successor entity under the Indenture dated as of December 17, 2002 (the "Indenture") between the Owner Trustee and JPMorgan Chase Bank, as indenture trustee (together with any successor thereto, hereinafter called the "Indenture Trustee"), for value received, hereby promises to pay to the Registered Owner named above or registered assigns, subject to the provisions hereof and of the Indenture, (a) interest based on the actual number of days and a 360-day year on the Outstanding Principal Balance from the Closing Date at the Class A-1 Interest Rate defined in the Indenture, on each Payment Date beginning in February, 2003 (or, if such day is not a Business Day, the next succeeding Business Day) and on the Class A-1 Final Scheduled Payment Date to the extent set forth in the Indenture, and (b) principal on each Payment Date and on the Class A-1 Final Scheduled Payment Date to the extent set forth in the Indenture in the manner and subject to the priority of payment as set forth in the Indenture; provided, however, that the Class A Notes are subject to redemption as set forth in the Indenture. This Note is one of a duly authorized series of Notes of the Owner Trustee designated as its Capital One Auto Finance Trust 2002-C Notes, Series 2002-C. The Indenture authorizes the issuance of $842,553,191 in principal amount of notes as Series 2002-C (the "Notes"). The notes are issued in seven classes designated as Class A-1 Notes, Class A-2 Notes, Class A-3-A Notes, Class A-3-B Notes, Class A-4 Notes, Class B-1 Notes and Class B-2 Notes. The Indenture provides that the Notes will be entitled to receive payments in reduction of the Aggregate Outstanding Principal Balance of each Class, in the amounts, from the sources, and at the times more specifically as set forth in the Indenture. The Notes are secured by the Trust Property (as defined in the Indenture). Reference is hereby made to the Indenture and all indentures supplemental thereto for a statement of the respective rights thereunder of the Owner Trustee, the Indenture Trustee and the Holders of the Notes and the terms upon which the Notes are to be authenticated and delivered. All terms used in this Class A Note which are not defined herein shall have the meanings assigned to them in th...
Original Principal Balance means as to each Subsidiary REMIC Regular Interest, the amount set forth with respect to such interest in Section 2.05(c).
Original Principal Balance. With respect to each Class of Certificates, the Principal Balance thereof on the Closing Date, as set forth opposite such Class in the table in the Preliminary Statement under the caption "Certificates," except with respect to (i) the Class P and Residual Certificates, which have an Original Principal Balance of zero and (ii) the Class CE Certificates, which, solely for REMIC purposes, have an Original Principal Balance equal to the Initial Overcollateralization Amount.
Original Principal Balance means the total initial amount the consumer is obligated to repay on the loan.
Original Principal Balance. With respect to each Class of Class A, Class M and Class B Certificates, the amount set forth for such Class under the definitions of Original Class AF-1 through Original Class AMF Principal Balances.