Trust Principal Component definition

Trust Principal Component means, for any Due Period, the product of the aggregate amount of Receivables at the end of the prior Due Period and one minus the Yield Factor or, for any other date of determination, the product of the aggregate amount of Receivables as of the date so specified in this Agreement and one minus the Yield Factor; provided, however, that there shall be subtracted from each such product the Privileged Assets Calculated Amount for the prior Due Period for the purpose of calculating (A) the Transferor Amount as a percentage of the Trust Principal Component pursuant to Section 2.06(a)(1), (B) the Trust Principal Component pursuant to Section 2.06(a)(2), (C) the Transferor Amount as a percentage of the Trust Principal Component pursuant to Section 2.07(a) and 2.07(b)(iii), (D) the Trust Principal Component and the Transferor Amount as a percentage of the Trust Principal Component pursuant to Section 2.07(c), (E) the Transferor Amount as a percentage of the Trust Principal Component pursuant to the fourth sentence of Section 3.08(a), (F) the Transferor Amount as a percentage of the Trust Principal Component pursuant to Section 4.01(f), (G) the Trust Principal Component pursuant to Section 6.09(b), (H) the Transferor Amount as a percentage of the Trust Principal Component pursuant to Section 9.01(d) and (I) any amount for any other purpose with respect to a Series as specified in the related Supplement.
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Trust Principal Component means, for any Collection Period, the product of the aggregate amount of Receivables (other than Ineligible Receivables) at the end of the prior Collection Period and one minus the Yield Factor or, for any other date of determination, the product of the aggregate amount of Receivables (other than Ineligible Receivables) as of the date so specified in this Agreement and one minus the Yield Factor.
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Trust Principal Component means, for any Collection Period, the product of the Pool Balance at the end of the prior Collection Period and one minus the Yield Factor or, for any other date of determination, the product of the Pool Balance as of the date so specified in this Agreement and one minus the Yield Factor.
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Examples of Trust Principal Component in a sentence

  • Similarly, the amount of the Trust Principal Component used to calculate the Transferor Amount, the Transferor Interest and the Floating Allocation Percentage and the Fixed Allocation Percentage applicable to any Series will be reduced by the product of one minus the Yield Factor and the amount of any Receivable which was discovered as having been created through a fraudulent or counterfeit charge or with respect to which the covenant contained in subsection 2.05(b) was breached.

  • Should any increase in the Available Subordinated Amount resulting from the occurrence of an event described in clauses (d)(ii)-(d)(viii) below cause the Transferor Amount as a percentage of the Trust Principal Component to be less than the Minimum Transferor Percentage, then the Transferor shall deposit funds in an amount equal to such deficiency to the Collection Account.

  • In the event that, following any such exclusion, the Transferor Amount as a percentage of the Trust Principal Component would be less than 3%, within two Business Days of the date on which such adjustment obligation arises, the Transferor shall pay to the Servicer, for deposit into the Special Funding Account, in immediately available funds in an amount equal to the amount by which the Transferor Amount would be reduced below the product of 3% and the Trust Principal Component.

  • On the day on which a Series of the Investor Certificates are issued (the "Closing Date"), the Servicer shall prepare and deliver, as provided in Section 13.05, to the Trustee and the Rating Agencies, an Officer's Certificate substantially in the form of Exhibit D setting forth the Trust Principal Component as of the end of the Due Period immediately preceding the Closing Date.

  • This Agreement may be executed in one or more counterparts, all of which when taken together shall constitute one and the same agreement.

  • If, following the exclusion of such Ineligible Receivables from the calculation of the Trust Principal Component, the Transferor Amount would be less than the Minimum Transferor Amount, the Transferor shall make a deposit into the Excess Funding Account in immediately available funds prior to the next succeeding Business Day in an amount equal to the amount by which the Transferor Amount would otherwise be less than the Minimum Transferor Amount.

  • When the provisions of subsection 2.4(d)(i) or (ii) above require reassignment of a Receivable, then such Receivable shall be designated an "Ineligible Receivable" and shall be assigned a balance of zero for the purpose of determining the Trust Principal Component on any day.

  • In the event that, following any such exclusion, the Transferor Amount as a percentage of the Trust Principal Component would be less than 10%, within two (2) Business Days of the date on which such adjustment obligation arises, the Transferor shall pay to the Servicer, for deposit into the Collection Account, in immediately available funds, an amount equal to the amount by which the Transferor Amount would be reduced below the product of 10% and the Trust Principal Component.

  • The Minimum Trust Principal Component with respect to the Series 1996-1 Certificates shall be $1,104,500,000.

  • The Trust Principal Component at the close of business on the last day of the Collection Period immediately preceding such Distribution Date .


More Definitions of Trust Principal Component

Trust Principal Component means, for any Collection Period, the product of the aggregate amount of Receivables at the end of the prior Collection Period and one minus the Yield Factor or, for any other date of determination, the product of the aggregate amount of Receivables as of the date so specified in this Agreement and one minus the Yield Factor.
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Related to Trust Principal Component

  • Class A Principal Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, determined as follows: (A) with respect to the Group I Class A Certificates, a fraction, the numerator of which is (x) the portion of the Principal Remittance Amount for such Distribution Date that is attributable to the principal received or advanced on the Group I Mortgage Loans and the denominator of which is (y) the Principal Remittance Amount for such Distribution Date and (B) with respect to the Group II Class A Certificates, a fraction, the numerator of which is (x) the portion of the Principal Remittance Amount for such Distribution Date that is attributable to the principal received or advanced on the Group II Mortgage Loans and the denominator of which is (y) the Principal Remittance Amount for such Distribution Date.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • REMIC II Principal Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10, REMIC II Regular Interest M-11 and the denominator of which is the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10, REMIC II Regular Interest M-11 and REMIC II Regular Interest ZZ.

  • REMIC 2 Principal Loss Allocation Amount With respect to any Distribution Date and the mortgage loans, an amount equal to (a) the product of (i) the Aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8 and REMIC 2 Regular Interest B, and the denominator of which is the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ.