Notional Principal Amount Clause Samples
The Notional Principal Amount clause defines the reference amount of money upon which payments, calculations, or obligations are based in a financial contract, such as a swap or derivative. This amount is not actually exchanged between parties but is used to determine the size of periodic payments, such as interest or fees, that each party owes. For example, in an interest rate swap, the notional principal amount is used to calculate the interest payments exchanged, even though the principal itself is never transferred. The core function of this clause is to provide a clear and consistent basis for calculating financial obligations, ensuring both parties understand the scale of their commitments without requiring the actual movement of large sums of money.
Notional Principal Amount. The Original Notes bear interest as shown in the following table and paragraph below. The initial Class Coupons apply only to the first Accrual Period. We determine One-Month LIBOR using the ICE Method as described in Section 3.05. M-1H Reference Tranche(1) 2.20688% One-Month LIBOR + 0.80% M-2A 3.85688% One-Month LIBOR + 2.45% M-2AD 2.65688% One-Month LIBOR + 1.25% M-2AH Reference Tranche(1) 3.85688% One-Month LIBOR + 2.45% M-2B 3.85688% One-Month LIBOR + 2.45% M-2BD 2.65688% One-Month LIBOR + 1.25% M-2BH Reference Tranche(1) 3.85688% One-Month LIBOR + 2.45% M-2R(2) 2.65688% One-Month LIBOR + 1.25% M-2S(2) 2.95688% One-Month LIBOR + 1.55% M-2T(2) 3.25688% One-Month LIBOR + 1.85% M-2U(2) 3.55688% One-Month LIBOR + 2.15% M-2AR(2) 2.65688% One-Month LIBOR + 1.25% M-2AS(2) 2.95688% One-Month LIBOR + 1.55% M-2AT(2) 3.25688% One-Month LIBOR + 1.85% M-2AU(2) 3.55688% One-Month LIBOR + 2.15% M-2BR(2) 2.65688% One-Month LIBOR + 1.25% M-2BS(2) 2.95688% One-Month LIBOR + 1.55% M-2BT(2) 3.25688% One-Month LIBOR + 1.85% M-2BU(2) 3.55688% One-Month LIBOR + 2.15% M-2(2) 3.85688% One-Month LIBOR + 2.45% M-2D(2) 2.65688% One-Month LIBOR + 1.25% B-1(2) 6.00688% One-Month LIBOR + 4.60% B-1D 3.90688% One-Month LIBOR + 2.50% B-1H Reference Tranche(1) 6.00688% One-Month LIBOR + 4.60% B-2D 4.40688% One-Month LIBOR + 3.00% B-2H Reference Tranche(1) 13.15688% One-Month LIBOR + 11.75%
(1) The Class M-1H, Class M-2AH, Class M-2BH, Class B-1H and Class B-2H Reference Tranches are not Notes; however, they are deemed to bear interest at the Class Coupon shown solely for purposes of calculating allocations of any Modification Gain Amounts or Modification Loss Amounts.
Notional Principal Amount. The Class A-1, Class AIO, Class M-1, Class M-2, Class M-3, Class O and Class P Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC (the "Upper-Tier REMIC Regular Interests") and the Class ---------------------------------- RU Certificate is hereby designated as the single "residual interest" with respect to the Upper-Tier REMIC. On each Distribution Date, available funds, if any, remaining in the Upper-Tier REMIC after payments of interest and principal as designated herein shall be distributed to the Class RU Certificates.
Notional Principal Amount. Class A-1 Class A-2 Class A-3 Class A-4 Banc of America Securities LLC $34,000,000 $39,500,000 $43,750,000 $48,250,000 Credit Suisse First Boston Corporation $34,000,000 $39,500,000 $43,750,000 $48,250,000 Deutsche Bank Securities Inc. $34,000,000 $39,500,000 $43,750,000 $48,250,000 J.▇. ▇▇▇▇▇▇ ▇ecurities Inc. $34,000,000 $39,500,000 $43,750,000 $48,250,000 Total $136,000,000 $158,000,000 $175,000,000 $193,000,000
Notional Principal Amount