Calculation of Notional Principal Amount Sample Clauses

The "Calculation of Notional Principal Amount" clause defines how the notional principal amount is determined for a financial contract, such as a swap or derivative. This clause typically outlines the formula, reference data, or schedule used to calculate the notional amount, which may vary over time or be subject to specific adjustments based on contract terms. By clearly specifying the calculation method, the clause ensures both parties have a mutual understanding of the amounts involved, reducing the risk of disputes and ensuring accurate settlement of payments.
Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly Interest, the Certificate Balance will be divided into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." The PAC Component shall initially equal the Original Notional Principal Amount. (b) On each Distribution Date, solely for the purposes of calculating the Notional Principal Amount, the Monthly Principal will be allocated (i) first, to the PAC Component up to the amount necessary to reduce the PAC Component to its Planned Notional Principal Amount for such Distribution Date, (ii) second, to the Companion Component until the balance thereof is reduced to zero, and (iii) third, to the PAC Component without regard to the Planned Notional Principal Amount for such Distribution Date.
View SourceView Similar (6)
Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly Interest, the Certificate Balance will be divided into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." The PAC Component shall initially equal the Original Notional Principal Amount.
View SourceView Similar (4)
Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly Interest, the Certificate Balance will be divided into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." The PAC Component shall initially equal the Original Notional Principal Amount and will equal the Notional Principal Amount on each Distribution Date thereafter. (b) On each Distribution Date, solely for the purposes of calculating the Notional Principal Amount, the amount of Monthly Principal distributed to Class A Certificateholders will be allocated (i) first, to the PAC Component up to the amount necessary to reduce the PAC Component to its Planned Notional Principal Amount for such Distribution Date, (ii) second, to the Companion Component until the balance thereof is reduced to zero, and (iii) third, to the PAC Component without regard to the Planned Notional Principal Amount for such Distribution Date.
View SourceView Similar (3)
Calculation of Notional Principal Amount. (a) Solely for the purpose of calculating the Class I Monthly Interest, the aggregate Class A Note Balance will be divided into, and equal the sum of, two principal components: (i) the "PAC Component" and (ii) the "Companion Component." The PAC Component shall initially equal the Original Notional Principal Amount. (b) On each Payment Date, solely for the purposes of calculating the Notional Principal Amount, the Monthly Principal will be allocated (i) first, to the PAC Component up to the amount necessary to reduce the PAC Component to its Planned Notional Principal Amount for such Payment Date, as specified on the Planned Notional Principal Amount Schedule attached as Schedule B, (ii) second, to the Companion Component until the balance thereof is reduced to zero, and (iii) third, to the PAC Component without regard to the Planned Notional Principal Amount for such Payment Date, until reduced to zero. If the amount of Available Funds (together with amounts withdrawn from the Spread Account) are not sufficient on any Payment Date to pay the required payment of Class A Monthly Principal to the Class A Noteholders in full on any Payment Date at any time after the occurrence and during the continuance of an Insurer Default, any shortfall in the principal payments on the Class A Notes will be allocated to reduce the PAC Component and the Companion Component on a pro rata basis. To the extent there are any recoveries on the Receivables creating such shortfall, such recoveries, to the extent of any portion thereof allocable to Class I Monthly Interest, shall be allocated to pay Class I Monthly Interest.
View SourceView Similar (3)

Related to Calculation of Notional Principal Amount

  • Calculation of Principal Amount of Notes The aggregate principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, and Section 13.06 of this Indenture. Any calculation of the Applicable Premium made pursuant to this Section 2.13 shall be made by the Company and delivered to the Trustee pursuant to an Officers’ Certificate.

  • Aggregate Principal Amount The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this Second Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this Second Supplemental Indenture.

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

  • Additional Voting Terms; Calculation of Principal Amount All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13.

  • Limitation on Aggregate Principal Amount The aggregate principal amount of the Notes shall not be limited. The Company shall not execute and the Trustee shall not authenticate or deliver Notes except as permitted by the terms of the Indenture.