Principal Distributions Clause Samples
The Principal Distributions clause defines how and when the principal amount of an investment or loan is to be repaid or distributed to the relevant parties. Typically, this clause outlines the schedule, order of priority, and conditions under which principal payments are made, such as periodic repayments, lump-sum payments at maturity, or distributions upon certain triggering events. By clearly specifying the mechanics of principal return, the clause ensures transparency and predictability for all parties, reducing the risk of disputes over payment timing or amounts.
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Principal Distributions. On each Distribution Date, the Principal Distribution Amount for that Distribution Date will be distributed in the following order of priority until such amounts have been fully distributed:
(i) to the Class A Certificates, the Senior Principal Distribution Amount;
(ii) to the Class M-1 Certificates, the Class M-1 Principal Distribution Amount;
(iii) to the Class M-2 Certificates, the Class M-2 Principal Distribution Amount;
(iv) to the Class B Certificates, the Class B Principal Distribution Amount;
(v) to the Class X Certificates, an amount up to the remaining Aggregate Principal Balance of the Mortgage Loans; and
(vi) to the Class R Certificates, any remaining amount.
Principal Distributions. (i) with respect to each Distribution Date (x) before the Stepdown Date or (y) if a Trigger Event is in effect, to the holders of the Classes of Offered Certificates then entitled to distributions of principal as set forth below, the applicable Principal Distribution Amount from each Loan Group in the following order of priority:
(A) (x) in the case of the Group 1 Certificates, to the Class A-1 Certificates, until their Class Certificate Balances are reduced to zero; and
Principal Distributions. On each Distribution Date, the Principal Distribution Amount for that Distribution Date will be distributed in the following order of priority until such amounts have been fully distributed:
(i) to the Senior Certificates, the Senior Principal Distribution Amount, as follows: Concurrently:
(A) to the Class A-7 Certificates, the Class A-7 Principal Distribution Amount, until the Certificate Principal Balance of the Class A-7 Certificates is reduced to zero; and
(B) to the Sequential Certificates, the Sequential Principal Distribution Amount, with such amounts being distributed in the following order of priority:
(1) to the Class A-6 Certificates, the Class A-6 Principal Distribution Amount; and
(2) the balance, sequentially, to the Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5 and Class A-6 Certificates so that no distribution will be made to any class until the Certificate Principal Balances of all the Sequential Certificates with a lower numeral designation shall have been reduced to zero; provided, however, that, on any Distribution Date on which the Certificate Principal Balance of the Senior Certificates is equal to or greater than the Aggregate Principal Balance of the Mortgage Loans as of the end of the related Due Period, the Sequential Principal Distribution Amount will be distributed pro rata and not sequentially to those Sequential Certificates;
(ii) to the Class M-1 Certificates, the Class M-1 Principal Distribution Amount;
(iii) to the Class M-2 Certificates, the Class M-2 Principal Distribution Amount;
(iv) to the Class B Certificates, the Class B Principal Distribution Amount;
(v) to the Class X Certificates, an amount up to the remaining Aggregate Principal Balance of the Mortgage Loans; and
(vi) to the Class R Certificates, the remaining amount.
Principal Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Available Distribution Amount for such Distribution Date remaining after the distributions made pursuant to 4.01(d) above and make the following distributions in respect of principal in the following order of priority, in each case to the extent of such remaining Available Distribution Amount:
(I) On each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect:
(A) (i) concurrently, to the Holders of the Group I Certificates, on a pro rata basis, based on their respective Certificate Principal Balances, the Group I Principal Distribution Amount for each such Class and such Distribution Date until their respective Certificate Principal Balances have been reduced to zero; and
Principal Distributions. On each Distribution Date beginning with the first Distribution Date and ending on the Distribution Date before the Distribution Date on which the Class A-4 Notes have been paid in full, the Servicer, pursuant to the instructions of the 1999-A Owner Trustee, shall distribute from the 1999-A SUBI Collection Account an amount equal to the Investor Percentage of all Principal Collections collected or received in respect of the related Collection Period allocable to the 1999-A SUBI Interest to (i) the 1999-A Note Distribution Account for payment to the Class A-1 Noteholders until the Class A-1 Notes have been paid in full, (ii) the 1999-A Note Distribution Account for payment to the Class A-2 Noteholders until the Class A-2 Notes have been paid in full, (iii) the 1999-A Note Distribution Account for payment to the Class A-3 Noteholders until the Class A-3 Notes have been paid in full, (iv) the 1999-A Note Distribution Account for payment to the Class A-4 Noteholders until the Class A-4 Notes have been paid in full and (v) the 1999-A Note Distribution Account for payment of the Class A Percentage, the Class B Percentage and the Class C Percentage of any remaining Principal Collections to the Class A-5 Noteholders, Class B Noteholders and Class C Noteholders, respectively. On each Distribution Date from and after the Class A-4 Notes have been paid in full, the Servicer, pursuant to the instructions of the 1999-A Owner Trustee, shall distribute (i) to the 1999-A Note Distribution Account for payment to the Class A-5 Noteholders, the Class A Percentage of Principal Collections collected or received in respect of the related Collection Period allocable to the 1999-A SUBI Interest, (ii) subject to subsection (f) below, to the 1999-A Note Distribution Account for payment to the Class B Noteholders, the Class B Percentage of such Principal Collections and (iii) subject to subsection (f) below, to the 1999-A Note Distribution Account for payment to the Class C Noteholders, the Class C Percentage of such Principal Collections. On each Distribution Date after the Class C Notes have been paid in full, the Servicer, pursuant to the instructions of the 1999-A Owner Trustee, shall distribute to the 1999-A Certificate Distribution Account for payment to the Certificateholders the Certificate Percentage of all Principal Collections collected or received in respect of the related Collection Period allocable to the 1999-A SUBI Interest. Distributions to the 1999-A Note Distribut...
Principal Distributions. (i) with respect to each Distribution Date (x) before the Stepdown Date or (y) if a Trigger Event is in effect, distributions in respect of principal, as follows:
(1) the Group I Principal Distribution Amount for such Distribution Date, concurrently, to the Class 1A-1 and Class 1A-2 Certificates, pro rata, until their respective Class Certificate Balances have been reduced to zero; and
(2) from any remaining Group I Principal Distribution Amount, sequentially, to the Class 2A-1, Class 2A-2, Class 2A-3 and Class 2A-4 Certificates (after the distribution of the Group II Principal Distribution Amount as provided in clause (b)(i)(B)(1) below), in that order, until their respective Class Certificate Balances have been reduced to zero; provided, however, that with respect to distributions on any Distribution Date pursuant to this clause (b)(i)(A)(2) on which the aggregate Class Certificate Balance of the Subordinated Certificates has been reduced to zero and the Overcollateralization Amount for such Distribution Date is equal to or less than zero, any remaining Group I Principal Distribution Amount for that Distribution Date to be distributed to the Group II Certificates shall be distributed, concurrently, to the Class 2A-1, Class 2A-2, Class 2A-3 and Class 2A-4 Certificates, pro rata, based on their respective Class Certificate Balances;
Principal Distributions. During the lifetime of ▇▇▇▇▇▇▇'s spouse, the Trustee, shall pay as much of the principal from the Trust Estate as the Trustee shall deem proper, in the Trustee's sole and absolute discretion, to or for the benefit of ▇▇▇▇▇▇▇'s children or grandchildren. up to the entire amount of the trust corpus together with any accumulated income thereon (including to the Trustee(s) themselves if they are a named remaindermen). A Trustee may only make a distribution to himself upon the consent of a co-trustee, or, in the event there is only one Trustee acting, upon the consent of a successor Trustee as a condition precedent to the Trustee making any said distributions. This paragraph is expressly intended to negate the provisions of section 10-10.1 of Estate Powers and Trust Laws of the State of New York. Any distributions made pursuant to the provisions herein shall be considered as advancements in determining the beneficiary's respective share as provided for hereinafter. In no event shall the Trustee invade principal to or for the benefit of ▇▇▇▇▇▇▇'s spouse. The Grantor directs that the provisions of Section 7-1.6 of the Estates, Powers and Trust Law of the State of New York, or any successor statute thereto, shall not be available to require any invasion of principal by the Trustees or any court.
Principal Distributions. Subject to the provisions of this section, the Trustees may in their discretion, distribute Principal for any purpose for which Net Cash Income of the Trust may be distributed.
Principal Distributions. On each payment date, the issuer will pay principal in reduction of the outstanding principal balance of the notes. Principal payments will be an amount usually equal to the decrease in the principal value of the leases between determination dates. The issuer will pay principal in the following priority: o to the Class A-1 noteholders only, until the principal amount on the Class A-1 Notes has been reduced to zero; o when the Class A-1 Notes have been paid in full: o to the Class A-2 noteholders, until the principal amount on the Class A-2 Notes has been reduced to zero, an amount generally equal to _____% of the decrease in the principal value of the leases; o when the Class A-2 Notes have been paid in full, to the Class A-3 noteholders, until the principal amount on the Class A-3 Notes has been reduced to zero, an amount generally equal to _____% of the decrease in the principal value of the leases; o when the Class A-3 Notes have been paid in full, to the Class A-4 noteholders, until the principal amount on the Class A-4 Notes has been reduced to zero, an amount generally equal to _____% of the decrease in the principal value of the leases; o when the Class A-4 Notes have been paid in full, to the Class A-5 noteholders, until the principal amount on the Class A-5 Notes has been reduced to zero, an amount generally equal to _____% of the decrease in the principal value of the leases; o to the Class B noteholders, an amount generally equal to _____% of the decrease in the principal value of the leases; o to the Class C noteholders, an amount generally equal to _____% of the decrease in the principal value of the leases; o to the Class D noteholders, an amount generally equal to _____% of the decrease in the principal value of the leases; o to the Class E noteholders, an amount generally equal to _____% of the decrease in the principal value of the leases. This general description of distributions of principal to the notes is subject to certain targets and floors. We refer you to "Descriptions of the Notes--Distributions" in this prospectus supplement for further information regarding the payment of interest and principal on the notes. RESERVE ACCOUNT The trustee will hold the reserve account. The servicer will deposit collections received from the leases into the reserve account on any payment date after interest and principal payments on the notes have been made. The servicer will continue to make those deposits until the balance in the reserve account i...
Principal Distributions. (i) with respect to each Distribution Date (x) before the Stepdown Date or (y) if a Trigger Event is in effect, to the holders of the Classes of Offered Certificates then entitled to distributions of principal as set forth below, the applicable Principal Distribution Amount from each Loan Group in the following amounts and order of priority:
(A) (x) in the case of the Group I Certificates, the Group I Principal Distribution Amount, (a) if a Group I Trigger Event is not in effect, concurrently to the Class A-I-1, Class A-I-2 and Class A-I-3 Certificates, PRO RATA, until their respective Class Certificate Balances are reduced to zero and (b) if a Group I Trigger Event is in effect, first and concurrently, to the Class A-I-1 Certificates, its PRO RATA portion (based on the Class Certificate Balance of the Group I Certificates) of the Group I Principal Distribution Amount for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero, and to the Class A-I-2 Certificates, the remainder of such Group I Principal Distribution Amount until the Class Certificate Balance thereof has been reduced to zero, and second, to the Class A-I-3 Certificates, any remaining Group I Principal Distribution Amount until the Class Certificate Balance thereof has been reduced to zero; and