Secondary Principal Distributable Amount definition

Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case as of the day preceding such Distribution Date, over the Pool Balance as of the last day of the preceding Collection Period minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on and after the Class B Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class B Notes as of the day preceding such Distribution Date.
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Secondary Principal Distributable Amount has the meaning specified in the Indenture.
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Secondary Principal Distributable Amount means, with respect to any Distribution Date, the excess, if any, of the Note Balance of the Class A Notes and Class B Notes on that Distribution Date (before giving effect to any payments made to holders of the Notes on that Distribution Date) over the sum of the Priority Principal Distributable Amount and the Pool Balance as of the last day of the related Collection Period; provided, however, that on and after the Final Scheduled Distribution Date for the Class B Notes, the Secondary Principal Distributable Amount will be not less than the amount that is necessary to reduce the outstanding principal balance of the Class B Notes to zero.
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More Definitions of Secondary Principal Distributable Amount

Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of (a) the sum of the Note Balance of all Notes as of such Distribution Date (before giving effect to any payments made to Noteholders on that Distribution Date), over (b) the Pool Balance as of the last day of the preceding Collection Period plus any Pre-Funding Account Amount as of the last day of such Collection Period, over (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Scheduled Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the Note Balance of the Class B Notes as of the day preceding such Distribution Date.
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Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case as of the day preceding such Distribution Date, over the Pool Balance as of the last day of the preceding Collection Period minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the outstanding principal balance of the Class B Notes as of the day preceding such Distribution Date; and, provided further, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class C Final Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the sum of the outstanding principal balance of the Class B Notes and the outstanding principal balance of the Class C Notes, in each case as of the day preceding such Distribution Date.
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Secondary Principal Distributable Amount means, with respect to any Distribution Date, (i) the excess, if any, of the sum of the Note Balance of the Class A Notes and the Note Balance of the Class B Notes, in each case 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 minus (ii) the Priority Principal Distributable Amount, if any, for such Distribution Date; provided, however, that the Secondary Principal Distributable Amount for each Distribution Date on or after the Class B Final Scheduled Distribution Date shall equal the greater of (i) the amount otherwise calculated pursuant to this definition and (ii) the Note Balance of the Class B Notes as of the day preceding such Distribution Date.
Sample 1
Secondary Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to the excess, if any, of (i) the lesser of (a) the Note Balance on that Distribution Date (before giving effect to any payments made to Holders of the Notes on that Distribution Date), and (b) the excess, if any, of (1) the sum of the Note Balance on that Distribution Date (before giving effect to any payments made to Holders of the Notes on that Distribution Date), the Regular Overcollateralization Target Amount and the Yield Supplement Overcollateralization Target Amount for that Distribution Date over (2) the sum of the Pool Balance and any Pre-Funding Account Amount as of the last day of the related Collection Period, over (ii) the Priority Principal Distributable Amount, if any; provided however, that for each Distribution Date on and after the Final Scheduled Distribution Date for the Class B Notes, the Secondary Principal Distributable Amount will not be less than the amount that is necessary to reduce the outstanding amount of the Class B Notes to zero.
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Related to Secondary Principal Distributable Amount

  • Regular Principal Distributable Amount means, with respect to any Distribution Date, the lesser of (i) the Note Balance as of the day preceding such Distribution Date and (ii) (A) the excess, if any, of (x) the sum of the Note Balance as of the day preceding such Distribution Date and the Overcollateralization Target Amount for such Distribution Date over (y) the Pool Balance as of the last day of the preceding Collection Period minus (B) the sum of the Priority Principal Distributable Amount, if any, the Secondary Principal Distributable Amount, if any, the Tertiary Principal Distributable Amount, if any, and the Quaternary Principal Distributable Amount, if any, in each case for 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 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.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.