Targeted Note Balance definition

Targeted Note Balance means, for any Payment Date, the excess, if any, of (x) the Aggregate Securitization Value at the end of the Collection Period preceding such Payment Date over (y) the Overcollateralization Target Amount.
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Targeted Note Balance means, for any Distribution Date, the product of 86% and the Aggregate Principal Balance as of the last day of the preceding calendar month. The Insurer may, in its discretion, permit the Targeted Note Balance to increase.
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Targeted Note Balance means, for each Payment Date, the excess, if any, of (x) the aggregate Securitization Value as of the last day of the Collection Period preceding such Payment Date over (y) the Targeted Overcollateralization Amount.
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Examples of Targeted Note Balance in a sentence

  • The respective Amortisation Amount is the amount necessary to reduce the outstanding principal amount of the respective Series of Notes to the Class A Targeted Note Balance and the Class B Targeted Note Balance.

  • The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the outstanding principal amount of the Class B Notes to the Class B Targeted Note Balance respectively.

  • The Class A Principal Payment Amount is the amount necessary to reduce the outstanding principal amount of the Class A Notes to the Class A Targeted Note Balance.

  • Rules of repayment of the Class A NotesThe repayment of the Class A Notes will be carried out on a pro rata basis among the Notes of such Class, by means of the reduction of their nominal value until redeemed in full, and will take place on each Payment Date, in the amount necessary to reduce on such Payment Date the Outstanding Nominal Balance of the Class A Notes to an amount equal to the Class A Targeted Note Balance (the "Class A Principal Payment Amount").

  • Therefore, the Class B Notes may be repaid together with the Class A Notes depending on the Class B Targeted Note Balance which may be applicable on each Payment Date.

  • Thereafter, payments on each Series of Class B Notes will be made from any amounts remaining from the Available Distribution Amount after the payment of principal on each Series of Class A Notes until the Note Principal Amount Outstanding of each Series of Class B Notes equals the Class B Targeted Note Balance.

  • The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the aggregate Principal Outstanding of the Class B Notes to the Class B Targeted Note Balance.

  • The Class A Principal Payment Amount is the amount necessary to reduce the aggregate Principal Outstanding of the Class A Notes to the Class A Targeted Note Balance.

  • Class A Targeted Note Balance means (a) except in the case of (b) below, an amount equal to the excess of the Aggregate Discounted Receivables Balance as at the end of the Monthly Period over the Class A Targeted Overcollateralisation Amount, or (b) zero, if the Aggregate Discounted Receivables Balance as at the end of the Monthly Period is less than 10 per cent of the Aggregate Cut-Off Date Discounted Receivables Balance or if a Servicer Replacement Event occurs.

  • For these purposes, it is stated that: • The "Class A Targeted Note Balance" means: (a) except in the case of (b), the excess of the Aggregate Discounted Receivables Balance at the end of the Monthly Period over the Class A Targeted Overcollateralisation Amount; and (b) zero, if the Aggregate Discounted Receivables Balance as at the end of the Monthly Period is less than 10% of the Aggregate Cut-Off Date Discounted Receivables Balance or if a Service Provider Replacement Event occurs.


More Definitions of Targeted Note Balance

Targeted Note Balance means, the excess, if any, of (x) the aggregate Securitization Value at the end of the Collection Period preceding such Payment Date over (y) the Targeted Overcollateralization Amount with respect to such Payment Date.
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Targeted Note Balance means, the excess, if any, of (x) the Adjusted Securitization Value at the end of the Collection Period preceding such Payment Date over (y) the Overcollateralization Amount with respect to such Payment Date.
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Targeted Note Balance means, with respect to any Payment Date, an amount no less than zero equal to (i) the Adjusted Pool Balance minus (ii) the Overcollateralization Required Amount, in each case, as of such Payment Date.
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Related to Targeted Note Balance

  • Initial Note Balance means, for any Class, the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial Class A-3 Note Balance, the Initial Class B Note Balance, the Initial Class C Note Balance, the Initial Class D Note Balance or the Initial Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of the foregoing.

  • Initial Class D Note Balance means $142,370,000.

  • Aggregate Note Balance NOTE RATE: [___]% (Subject to $ ________________________ Available Funds Rate) INITIAL NOTE BALANCE OF THIS BOND: BOND NO. 1 $ ________________________ PERCENTAGE INTEREST: 100% CUSIP NO. [ ] Origen Manufactured Housing Contract Trust 2004-B (the "Issuer"), a Delaware statutory trust, for value received, hereby promises to pay to ___________________________ or registered assigns, the principal sum of ($_______________ ) in monthly installments on the fifteenth day of each month or, if such day is not a Business Day, the next succeeding Business Day (each a "Payment Date"), commencing in October 2004 and ending on or before the Payment Date occurring on the Final Stated Maturity Date and to pay interest on the Note Balance of this Note (this "Note") outstanding from time to time as provided below. This Note is one of a duly authorized issue of the Origen Manufactured Housing Contract Trust Collateralized Notes, Series 2004-B (the "Notes"), issued under an Indenture dated as of September 1, 2004 (the "Indenture"), between the Issuer and JPMorgan Chase Bank, as indenture trustee (the "Indenture Trustee", which term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Indenture Trustee, the Owner Trustee and the Holders of the Notes and the terms upon which the Notes are to be authenticated and delivered. All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. Payments of principal and interest on this Note will be made on each Payment Date to the Noteholder of record as of the related Record Date. The "Note Balance" of a Note as of any date of determination is equal to the initial Note Balance thereof, reduced by the aggregate of all amounts previously paid with respect to such Note on account of principal on all prior Payment Dates. The principal of, and interest on, this Note are due and payable as described in the Indenture, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be equal to this Note's pro rata share of the aggregate payments on all Class B Notes as described above, and shall be applied as between interest and principal as provided in the Indenture. All principal and interest accrued on the Notes, if not previously paid, will become finally due and payable at the Final Stated Maturity Date. The Notes are subject to redemption in whole, but not in part, by the Servicer on any Payment Date on or after the Payment Date on which the Pool Principal Balance of the Contracts as of the end of the prior Due Period is less than or equal to 20% of the aggregate Principal Balance of the Contracts as of Cut-off Date. The Issuer shall not be liable upon the indebtedness evidenced by the Notes except to the extent of amounts available from the Trust Estate which constitute security for the payment of the Notes. The assets included in the Trust Estate will be the sole source of payments on the Notes, and each Holder hereof, by its acceptance of this Note, agrees that (i) such Note will be limited in right of payment to amounts available from the Trust Estate as provided in the Indenture and (ii) such Holder shall have no recourse to the Issuer, the Owner Trustee, the Indenture Trustee, the Seller, the Originator, the Servicer or any of their respective affiliates, or to the assets of any of the foregoing entities, except the assets of the Issuer pledged to secure the Notes pursuant to the Indenture and the rights conveyed to the Issuer under the Indenture.

  • Initial Class C Note Balance means $178,840,000.

  • Class E Note Balance means, at any time, the Initial Class E Note Balance reduced by all payments of principal made prior to such time on the Class E Notes.

  • Class D Note Balance means, at any time, the Initial Class D Note Balance reduced by all payments of principal made prior to such time on the Class D Notes.

  • Initial Class B Note Balance means $21,340,000.

  • Class C Note Balance means, at any time, the Initial Class C Note Balance reduced by all payments of principal made prior to such time on the Class C Notes.

  • Initial Class A-1 Note Balance means $265,000,000.

  • Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing.

  • Class A Note Balance means, at any time, the sum of the Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time.

  • Class A-1 Note Balance means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes.

  • Class B Note Balance means, at any time, the Initial Class B Note Balance reduced by all payments of principal made prior to such time on the Class B Notes.

  • Initial Class A-4 Note Balance means $125,000,000.

  • Initial Class A-2 Note Balance means $235,000,000.

  • Class A-4 Note Balance means, as of any date, the Initial Class A-4 Note Balance reduced by all payments of principal made on or prior to such date on the Class A-4 Notes.

  • Class A-2 Note Balance means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes.

  • Initial Class A-3 Note Balance means $380,000,000.

  • Class A-3 Note Balance means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes.

  • Initial Note Principal Balance means, with respect to each Note as of any date of determination, the “Initial Note Principal Balance” for such Note set forth in Part B of the Mortgage Loan Schedule.

  • Class C Note Principal Balance means, on any date of determination, an amount equal to (a) the Class C Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class C Noteholders on or prior to such date.

  • Class C Note Initial Principal Balance means $18,948,000.

  • Pro Forma Note Balance means, with respect to any Distribution Date, the aggregate remaining principal amount of the Notes outstanding on such Distribution Date, after giving effect to distributions pursuant to clauses (i) through (xviii) of Section 5.7(a) hereof.

  • Aggregate Note Principal Balance With respect to the close of a Distribution Date, the sum of the Note Principal Balances for all classes of Notes.

  • 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:

  • Original Note Principal Balance means the Original Note Principal Balance of both Classes of Notes, or the Original Note Principal Balance of the Class 1-A Notes or the Class 2-A Notes, as applicable, each as reflected in the Adoption Annex.