Priority Principal Distributable Amount definition

Priority Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes as of the day preceding such Distribution Date over the Pool Balance as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Distribution Date on and after the Class Final Distribution Date for any Class of Class A Notes shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class A Notes of such Class as of the day preceding such Distribution Date.

Priority Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date) over the Adjusted Pool Balance as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Distribution Date on and after the Final Scheduled Distribution Date for any Class of Class A Notes will not be less than the amount that is necessary to reduce the outstanding principal balance of such Class of Class A Notes to zero.

Priority Principal Distributable Amount means, with respect to any Payment Date, the excess, if any, of the Note Balance of the Notes as of such Payment Date (before giving effect to any payments made to Noteholders on that Payment Date) over the Adjusted Pool Balance as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Payment Date on and after the Final Scheduled Payment Date for any Class of Notes will not be less than the amount that is necessary to reduce the outstanding principal balance of such Class of Notes to zero.

Examples of Priority Principal Distributable Amount in a sentence

• For purposes of distributions from the Reserve Fund pursuant to Section 4.02(d) of the Sale and Servicing Agreement, any portion of the Priority Principal Distributable Amount and the Regular Principal Distributable Amount shall be deemed to be due and payable on any Payment Date on which funds sufficient to pay such portion would be available to make such payment from funds withdrawn from the Reserve Fund and distributed with the priorities set forth in accordance with this Section 2.08(a).

• Notwithstanding the foregoing, on or after the Final Scheduled Distribution Date for the Class D Notes, the Noteholders’ Regular Principal Distributable Amount will equal the greater of (1) the amount specified above and (2) the outstanding principal balance of the notes as of the preceding distribution date reduced by the Aggregate Noteholders’ Priority Principal Distributable Amount, if any, with respect to the then current distribution date.

• Additionally, any portion of the First Priority Principal Distributable Amount and the Regular Principal Distributable Amount shall be deemed to be due and payable on any date where the Servicer elects to exercise its Optional Purchase and the Issuer redeems the outstanding Notes pursuant to Section 10.01.

• Mr Brereton asked the Cabinet Member for Highways and Transport a question about a bridge at Broughton Mills, which had been subject to temporary weight restrictions for the past 18 months.

• For the avoidance of doubt, other than on the applicable Final Scheduled Payment Date for a Class of Notes, the First Priority Principal Distributable Amount and the Regular Principal Distributable Amount, or any portion thereof, shall not be due (other than in accordance with Section 2.08(f)) unless amounts are actually available to make such payments in accordance with Section 2.08(a).

• For the avoidance of doubt, the First Priority Principal Distributable Amount and the Regular Principal Distributable Amount, or any portion thereof, shall not be due (other than in accordance with Section 2.08(f)) unless amounts are actually available to make such payments in accordance with Section 2.08(a).

More Definitions of Priority Principal Distributable Amount

Priority Principal Distributable Amount has the meaning specified in the Indenture.

Priority Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date) over the sum of the Pool Balance as of the last day of the preceding Collection Period and any Pre-Funding Account Amount as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Distribution Date on or after the Final Scheduled Distribution Date for any Class of Class A Notes shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of such Class of Class A Notes as of the day preceding such Distribution Date.

Priority Principal Distributable Amount means, with respect to any Distribution Date, the lesser of (i) the Note Balance of the Class A Notes as of the day preceding such Distribution Date and (ii) the amount necessary to reduce the Note Balance of the Class A Notes as of the day preceding such Distribution Date to the Pool Balance as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Distribution Date on or after the Note Final Distribution Date for any Class of Class A Notes shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class A Notes of such Class as of the day preceding such Distribution Date.

Priority Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date) over the Pool Balance as of the last day of the preceding Collection Period; provided, however, that the Priority Principal Distributable Amount for each Distribution Date on or after the Final Scheduled Distribution Date for any Class of Class A Notes shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class A Notes of such Class as of the day preceding such Distribution Date.