Third 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, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).
Third 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, the Class B Note Balance and the Class C Note Balance as of that payment date (before giving effect to any principal payments made on the Class A notes, the Class B notes and the Class C notes on that payment date) over (y) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for that payment date; provided, however, that the Third Allocation of Principal on and after the final scheduled payment date for the Class C notes will not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).INDEX
Third 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 aggregate Note Balance of all Notes 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 sum of the First Allocation of Principal and Second 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 Third 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, the Class B Notes or the Class C 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 and Second Allocation of Principal).
Examples of Third Allocation of Principal in a sentence
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.
Respondents replied to the Securities Division by email on September 24, 2020.
More Definitions of Third Allocation of Principal
Third 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, the Class B Notes and the Class C Notes as of the day immediately preceding such Distribution Date over (y) the Pool Balance with respect to such Distribution Date.
Third 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, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on 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 (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).
Third Allocation of Principal means, for any Payment Date an amount not less than zero equal to the excess, if any, of (a) the aggregate Note Balance of the Class A Notes, the Class B Notes and the Class C Notes as of the preceding Payment Date (after giving effect to all principal payments made on that preceding Payment Date and with respect to the first Payment Date, as of the Closing Date) minus the sum of the First Allocation of Principal and Second Allocation of Principal for the current Payment Date over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for any class of Class A Notes, the Class B Notes or the Class C 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 and Second Allocation of Principal).
Third Allocation of Principal means, with respect to any specified Payment Date, an amount equal to the excess, if any, of (a)(i) the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) minus (ii) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date over (b) the Pool Balance for the Collection Period immediately preceding such Payment Date; provided, however, that the Third Allocation of Principal shall not exceed the sum of the Class A Note Balance, Class B Note Balance and Class C Note Balance (before giving effect to any principal payments on the Notes on such Payment Date) minus the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, further, that the Third Allocation of Principal on and after the Class C Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the Note Balance of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).
Third 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, the Class B Note Balance and the Class C 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 sum of the First Allocation of Principal and Second 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 Third 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, the Class B Notes or the Class C 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 and Second Allocation of Principal).
Third Allocation of Principal means, with respect to any Payment Date, an amount not less than zero equal to (1) the excess, if any, of (x) the aggregate principal balance of the Class A Notes, the Class B Notes and the Class C Notes as of the preceding Payment Date (after giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such preceding Payment Date) or, in the case of the initial Payment Date, the Closing Date, over (y) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that that the Third Allocation of Principal shall not exceed the sum of the aggregate outstanding principal amount of the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date (after giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date in respect of the First Allocation of Principal and Second Allocation of Principal, if any); provided, further, however, that the Third Allocation of Principal for any Payment Date on or after the Final Scheduled Payment Date for any class of Class C Notes shall not be less than the amount such is necessary to reduce the Outstanding Amount of such class of Class C Notes to zero.
Third 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, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date) over