Optimal Principal Amount definition

Optimal Principal Amount. An amount equal to (A) on any Payment Date (i) on or prior to the Target Overcollateralization Date or (ii) after the Target Overcollateralization Date and on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Payment Date after the Target Overcollateralization Date on which there does not exist an uncured Trigger Event, the amount which, when paid as principal on the Notes, will result in achieving or maintaining the Target Overcollateralization Level; provided that in no event will the Optimal Principal Amount for any Payment Date exceed the Remaining Available Funds for such Payment Date or the Aggregate Outstanding Principal Balance of the Notes.
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Optimal Principal Amount. An amount equal to (A) on any Payment Date on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Payment Date on which there does not exist an uncured Trigger Event, the amount which, when paid as principal on the Notes, will result in an Overcollateralization Amount equal to the Target Overcollateralization Level; provided that in no event will the Optimal Principal Amount for any Payment Date exceed the Remaining Available Funds for such Payment Date or the Aggregate Outstanding Principal Amount.
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Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amounts of the Subordinate Certificates of the relevant Certificate Group immediately prior to such Distribution Date):
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Examples of Optimal Principal Amount in a sentence

  • Each Class of Subordinate Certificates that received a full pro rata share as described above shall be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).

  • For any Distribution Date and with respect to each Class of Subordinate Certificates, the portion of the Aggregate Subordinate Optimal Principal Amount allocable to such Class, equal to the product of the Aggregate Subordinate Optimal Principal Amount on such Distribution Date and a fraction, the numerator of which is the related Class Principal Balance thereof and the denominator of which is the aggregate of the Class Principal Balances of the Subordinate Certificates.

  • Each Class of Junior Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Junior Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Junior Certificates that received a full pro rata share).

  • Each Class of Subordinate Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (5) and (6) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).

  • If on any Payment Date the Principal Funds for a Loan Group are less than the Senior Optimal Principal Amount for the related Senior Notes, then such amount shall be reduced for such Payment Date, and such remaining Principal Funds shall be distributed to the related Senior Notes, on a pro rata basis, on the basis of such reduced amounts.

  • Any Net Interest Shortfalls shall be allocated to the Class 3-A-5 Certificates as provided in Section 6.01(e); and SECOND, to the Class 3-A-5 Certificates, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Sub-Group 3B Available Funds, and THIRD, the Sub-Group 3B Senior P&I Optimal Principal Amount to the Class 3-A-5 Certificates, until the Current Principal Amount thereof has been reduced zero.

  • I-14 Class B-2 Optimal Principal Amount.................................................................

  • I-19 Class B-5 Optimal Principal Amount.................................................................

  • I-6 Class A Non-PO Optimal Principal Amount............................................................

  • Second, to the Class II-A-3 Notes and Class II-A-4 Notes, on a pro rata basis, in reduction of the Note Principal Balances thereof, the related Senior Optimal Principal Amount for such Payment Date to the extent of remaining Group II-NC Available Funds, until the Note Principal Balances of such Classes have been reduced to zero.


More Definitions of Optimal Principal Amount

Optimal Principal Amount. With respect to any Distribution Date, an amount equal to the Total Loan Balance as of the immediately preceding Determination Date minus the Targeted Overcollateralization Amount for such Distribution Date.
Sample 1
Optimal Principal Amount means, with respect to any Payment Date, an amount equal to the sum of the following, without duplication:
Sample 1
Optimal Principal Amount. An amount equal to (A) on any Payment Date (i) on or prior to the Target Overcollateralization Date or (ii) after the Target Overcollateralization Date and on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Payment Date after the Target Overcollateralization Date on which there does not exist an uncured Trigger Event, the amount which, when paid as principal on the Notes, will result in achieving or maintaining the Target Overcollateralization Level; provided that in no event will the Optimal Principal Amount for any Payment Date exceed the Remaining Available Funds for such Payment Date or the Aggregate Current Principal Amount.
Sample 1
Optimal Principal Amount and "Class P Certificate Principal Distribution Amount" on such Distribution Date;
Sample 1
Optimal Principal Amount. An amount equal to (A) on any Distribution Date (i) on or prior to the Target Overcollateralization Date or (ii) after the Target Overcollateralization Date and on which there exists an uncured Trigger Event, the Remaining Available Funds; and (B) on any Distribution Date after the Target Overcollateralization Date
Sample 1

Related to Optimal Principal Amount

  • Class B-6 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Senior Optimal Principal Amount As to a Mortgage Pool and with respect to each Distribution Date, an amount equal to the sum of:

  • Class B-5 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Initial Principal Amount means, with respect to any Series or Class (or Subclass) of Notes, the aggregate initial principal amount of such Series or Class (or Subclass) of Notes specified in the applicable Series Supplement.

  • Class B-4 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Original Principal Amount means $296,000,000 for the Class A-1 Notes, $330,000,000 for the Class A-2a Notes, $100,000,000 for the Class A-2b Notes, $428,000,000 for the Class A-3 Notes and $96,000,000 for the Class A-4 Notes.

  • Class A-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum as to each Outstanding Mortgage Loan, of the product of (x) the PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-2 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-3 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Notional Principal Amount For calculating interest payments, on each Class of outstanding Interest Only MAC Notes as of any Payment Date, an amount equal to the outstanding Class Principal Balance as of such Payment Date of the portion of the related Class of Class M Notes that was exchanged for such Interest Only MAC Note.

  • PO Principal Amount As to any Distribution Date and Loan Group, the sum of the applicable PO Percentage of (a) the principal portion of each Monthly Payment due on each Mortgage Loan in such Loan Group on the related Due Date, (b) the Stated Principal Balance, as of the date of repurchase, of each Mortgage Loan in such Loan Group that was repurchased by the Depositor pursuant to this Agreement as of such Distribution Date, (c) any Substitution Adjustment Amount in connection with any Defective Mortgage Loan in such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans in such Loan Group that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds (excluding Excess Proceeds) allocable to principal received with respect to such Mortgage Loan during the calendar month preceding the month of such Distribution Date with respect to such Mortgage Loan and (f) all Principal Prepayments received on the Mortgage Loans in such Loan Group received during the calendar month preceding the month of such Distribution Date.

  • Class B-1 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Subordinated Optimal Principal Amount With respect to each Mortgage Pool and each Distribution Date, an amount equal to the sum of the following (but in no event greater than the aggregate Class Certificate Balances of the Subordinated Certificates immediately prior to such Distribution Date):

  • Class A Non-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan, and (y) the sum of:

  • Class Principal Amount With respect to each Class of Certificates other than any Class of Notional Certificates, the aggregate of the Certificate Principal Amounts of all Certificates of such Class at the date of determination. With respect to each Class of Notional Certificates, zero.

  • Collateral Principal Amount means on any date of determination (A) the aggregate principal balance of the Portfolio, including the funded and unfunded balance on any Delayed Funding Term Loan or Revolving Loan, as of such date plus (B) the amounts on deposit in the Accounts (including cash and Cash Equivalents) representing Principal Proceeds as of such date minus (C) the aggregate principal balance of all Ineligible Investments as of such date.

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Current Principal Amount With respect to any Certificate (other than an Interest Only Certificate) as of any Distribution Date, the initial principal amount of such Certificate, and reduced by (i) all amounts distributed on previous Distribution Dates on such Certificate with respect to principal, (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such Certificate, taking account of the Loss Allocation Limitation and (iii) in the case of a Subordinate Certificate, such Certificate's pro rata share, if any, of the applicable Subordinate Certificate Writedown Amount for previous Distribution Dates. With respect to any Class of Certificates (other than an Interest Only Certificate), the Current Principal Amount thereof will equal the sum of the Current Principal Amounts of all Certificates in such Class. Notwithstanding the foregoing, solely for purposes of giving consents, directions, waivers, approvals, requests and notices, the Class R-I, Class R-II and Class R-III Certificates after the Distribution Date on which they each receive the distribution of the last dollar of their respective original principal amount shall be deemed to have Current Principal Amounts equal to their respective Current Principal Amounts on the day immediately preceding such Distribution Date.

  • Class P Principal Amount As of the Closing Date, $100.

  • PO Formula Principal Amount As to any Distribution Date and Class PO Component, the sum of the applicable PO Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each Mortgage Loan in the related Loan Group on the related Due Date, (b) the Stated Principal Balance of each Mortgage Loan in the related Loan Group that was repurchased by the Seller or the Master Servicer pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan in the related Loan Group received with respect to such Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans in the related Loan Group that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan in the related Loan Group that became a Liquidated Mortgage Loan during the month preceding the calendar month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan during the month preceding the month of such Distribution Date with respect to such Mortgage Loan, (f) all Principal Prepayments with respect to the Mortgage Loans in the related Loan Group received during the related Prepayment Period and (g) on the last Conveyance Period Distribution Date, the Remaining PO Supplemental Loan Amount.

  • Maximum Principal Amount the meaning set forth in Section 2.1(a).

  • Applicable Principal Amount means the aggregate principal amount of the Senior Notes that are components of Corporate Units.

  • Aggregate Principal Amount means, as of any date of calculation, the principal amount or Accreted Value of the Bonds referred to.

  • Non-PO Principal Amount As to any Distribution Date and Loan Group, the sum of (i) the sum of the applicable Non-PO Percentage of (a) the principal portion of each Monthly Payment due on each Mortgage Loan in such Loan Group on the related Due Date, (b) the Stated Principal Balance, as of the date of repurchase, of each Mortgage Loan in such Loan Group that was repurchased by the Depositor pursuant to this Agreement as of such Distribution Date, (c) any Substitution Adjustment Amount in connection with a Defective Mortgage Loan in such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans in such Loan Group that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds (excluding Excess Proceeds) allocable to principal received with respect to such Mortgage Loan during the calendar month preceding the month of such Distribution Date and (f) all Principal Prepayments on the Mortgage Loans in such Loan Group received during the calendar month preceding the month of such Distribution Date; and (ii) the Non-PO Recovery for such Distribution Date.

  • Initial Dollar Principal Amount means $1,000,000,000, or such higher amount as is specified in any Notice of Additional Issuance under Section 2.09 hereof.