Examples of Principal Distribution Amount in a sentence
Ex. A at 85–92.4 In addition, the PSAs for the 14 Trusts define the Principal Distribution Amount by reference to the certificate principal balance “immediately prior to the Distribution Date.” Ex. A at 81–84 (excerpting the provisions of the 3 While the Institutional Investors do not highlight the 14 Trusts specifically, they broadly state that the concern of “temporary and illusory overcollateralization” does not apply to any of the 175 overcollateralization trusts.
So even if the Trustee were to determine the order of operations on the Distribution Date differed, the certificate principal balance for the purposes of calculating the Principal Distribution Amount would nonetheless be calculated immediately prior to such Distribution Date and would be unaffected by the write-up.
Any reduction in the Subordinate Principal Distribution Amount pursuant to the provisions above shall offset the amount calculated pursuant to clause (1), clause (3) and clause (2), in that order.
Ex. 3.)Third, the next day, on the Distribution Date, the trustee must first make “REMIC Distributions” under Section 5.03 and then make distributions to certificateholders under Section 5.04(a), in the following order: Interest Funds under Section 5.04(a)(1), then the Principal Distribution Amount under Section 5.04(a)(2), and finally Excess Cashflow under Section 5.04(a)(4).
Respondents do not believe Center Court’s position on writing up first or adjusting the overcollateralization calculation as proposed by the Verified Petition will impact the Principal Distribution Amount for that 1 Trust.