Second Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance and the Class B Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes and the Class B Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation of Principal for such Payment Date; provided, however, that the Second Allocation of Principal on and after the Final Scheduled Payment Date for the Class B Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class B Notes to zero (after the application of the First Allocation of Principal).
Second Allocation of Principal means, with respect to any payment date, an amount equal to (1) the excess, if any, of (x) the sum of the Note Balance of the Class A notes and the Class B Note Balance as of that payment date (before giving effect to any principal payments made on the Class A notes and the Class B notes on that payment date) over (y) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation of Principal for that payment date; provided, however, that the Second Allocation of Principal on and after the final scheduled payment date for the Class B notes will not be less than the amount that is necessary to reduce the outstanding principal balance of the Class B notes to zero (after the application of the First Allocation of Principal).
Second Allocation of Principal means, for any Payment Date and the related Collection Period, an amount not less than zero equal to the excess, if any, of (i) the sum of the Class A Note Balance and the Class B Note Balance as of the preceding Payment Date (after giving effect to all principal payments made on that preceding Payment Date or, with respect to the first Payment Date, as of the Closing Date) minus the First Allocation of Principal for the current Payment Date over (ii) the Pool Balance as of the last day of such Collection Period; provided, however, that the Second Allocation of Principal on and after the Final Scheduled Payment Date for the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes or the Class B Notes will not be less than the amount that is necessary to reduce the Note Balance of each such Class, as applicable, to zero (after the application of the First Allocation of Principal).
Examples of Second Allocation of Principal in a sentence
Second Allocation of Principal -- to the principal distribution account, an amount, if any, equal to the excess of (x) the sum of the principal balances of the Class A Notes and the Class B Notes over (y) the principal balance of the receivables.
NOTE BALANCE CALCULATION {11} Original Note Balance{11} {12}{13}{14}{15}{16}{17}{18}{19} Beginning of period Note Balance First Allocation of Principal Second Allocation of Principal Third Allocation of Principal Fourth Allocation of Principal Fifth Allocation of Principal Regular Allocation of PrincipalOptional Purchase payment amount {12}{13}{14}{15}{16}{17}{18}{19} {20} End of period Note Balance{20} {21} Note Pool Factors{21} {22} Principal payment per $1,000{22} III.
The First Allocation of Principal, Second Allocation of Principal, Third Allocation of Principal, Fourth Allocation of Principal, Fifth Allocation of Principal and Regular Allocation of Principal will be paid to the holders of the notes as described under “The Notes—Payments of Principal” in this prospectus.
From January 1, 1999, assuming(1) payments on all receivables are due on¬ bank accounts; the Ñrst day of the month, (2) all paymentson the receivables are paid when due, (5) Second Allocation of Principal Ì to commencing one month from January 1, 1999 the principal distribution account, and (3) no prepayments on the receivables an amount, if any, equal to theare made.
Respondents replied to the Securities Division by email on September 24, 2020.
More Definitions of Second Allocation of Principal
Second Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the sum of the Note Balance of the Class A Notes and the Class B Notes minus the First Allocation of Principal for such Payment Date, over (b) the Net Pool Balance as of the end of the related Collection Period; provided, however, that the Second Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for the Class A Notes or the Class B Notes shall not be less than the amount that is necessary to reduce the Class A Note Balance or the Class B Note Balance, as applicable, to zero (after the application of the First Allocation of Principal).
Second Allocation of Principal means, with respect to any Payment Date, an amount equal to (i) the excess, if any, of (x) the aggregate Outstanding Amount of the Class A Notes and the Class B Notes (as of the day immediately preceding such Payment Date) over (y) the Pool Balance for such Payment Date minus (ii) any amount deposited into the Principal Distribution Amount as part of the First Allocation of Principal for such Payment Date.
Second Allocation of Principal means, for any Payment Date, an amount (not less than zero) equal to the excess, if any, of (x) the Note Balance on such Payment Date (after the application of the First Allocation of Principal) over (y) the sum of (i) the Pool Balance as of the last day of the related Collection Period minus the Target Overcollateralization Amount for such Payment Date and (ii) 100% of amounts, if any, on deposit in the Pre-Funding Account as of the last day of the related Collection Period; provided, however, that if a Triggering Event has occurred and is continuing as of such Payment Date, the “Second Allocation of Principal” means, for such Payment Date, an amount equal to the Note Balance (after the application of the First Allocation of Principal).
Second Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Note Balance of the Notes as such Payment Date minus the First Allocation of Principal for such Payment Date, over (b) the sum of (i) the Pool Balance as of the end of the related Collection Period plus (ii) amounts, if any, on deposit in the Pre-Funding Account as of the end of the related Collection Period minus (iii) the YSOC Amount; provided, however, that the Second Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class to zero (after the application of the First Allocation of Principal).
Second Allocation of Principal means, with respect to any Distribution Date, the excess, if any, of (x) the aggregate Outstanding Amount of the Class A Notes and the Class B Notes as of the day immediately preceding such Distribution Date over (y) the Pool Balance with respect to such Distribution Date.
Second Allocation of Principal means, for such Payment Date, an amount equal to the Note Balance (after the application of the First Allocation of Principal).
Second Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the sum of the Note Balance of the Class A Notes and the Class B Notes (before giving effect to any principal payments made on the Notes on such Payment Date) minus the First Allocation of Principal for such Payment Date, over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the Second Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for the Class A Notes or the Class B Notes shall not be less than the amount that is necessary to reduce the Class A Note Balance or the Class B Note Balance, as applicable, to zero (after the application of the First Allocation of Principal).