Definition of Series 2017-1 Controlled Amortization Period


Series 2017-1 Controlled Amortization Period means the period commencing upon the close of business on February 28, 2022 (or, if such day is not a Business Day, the Business Day immediately preceding such day) and continuing to the earliest of (i) the commencement of the Series 2017-1 Rapid Amortization Period, (ii) the date on which the Series 2017-1 Notes are fully paid and (iii) the termination of the Indenture.

Examples of Series 2017-1 Controlled Amortization Period in a sentence

No payments on account of principal shall be made with respect to the Class R Notes during the Series 2017-1 Controlled Amortization Period or the Series 2017-1 Rapid Amortization Period or on the Series 2017-1 Final Distribution Date until the Class A Notes, the Class B Notes, the Class C Notes and, if issued, the Class D Notes have been paid in full.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2017-1 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.