Certificate Principal Distributable Amount definition
Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01 of the Sale and Servicing Agreement, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.
Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificate Quarterly Principal Distributable Amount for such Distribution Date and any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Distribution Date on which the principal amount of the Class A-4 Notes has been reduced to zero, any Accelerated Principal Distributable Amounts remaining after such reduction shall be included in the Certificate Principal Distributable Amount, and on each Distribution Date thereafter, to and including the Distribution Date on which the Certificate Balance is reduced to zero, the Accelerated Principal Distributable Amount, if any, will be included in the Certificate Principal Distributable Amount. Further, on the Certificate Final Distribution Date, the amount required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.
Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Certificate Percentage of the Regular Principal Distributable Amount for such Distribution Date and (ii) any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. Notwithstanding the foregoing, the Certificate Principal Distributable Amount on the Certificate Final Scheduled Distribution Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Certificates to zero.
Examples of Certificate Principal Distributable Amount in a sentence
Initially, the aggregate principal amount of Certificates issued on the Closing Date and, thereafter, such principal amount reduced by all amounts distributed to the Certificateholders in respect of the Certificate Principal Distributable Amount.
The Residual Certificate Principal Distributable Amount for each Payment Date occurring on and after the Payment Date on which the Class A-4 Note Balance has been reduced to zero will equal the lesser of (i) the Residual Certificate Notional Balance and (ii) the amount of the Total Distribution Amount remaining after the distributions pursuant to clauses (i) through (xiii) of Section 5.7(a) have been made.
More Definitions of Certificate Principal Distributable Amount
Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Certificate Percentage of the Regular Principal Distributable Amount for such Distribution Date and (ii) any outstanding Certificate Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. Notwithstanding the foregoing, the Certificate Principal Distributable Amount on the Final Scheduled Distribution Date for the Certificates shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Certificates to zero.
Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Certificate Monthly Principal Distributable Amount with respect to such Distribution Date and the Certificate Principal Carryover Shortfall; PROVIDED, HOWEVER, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Certificate Final Scheduled Distribution Date, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.
Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero. “Certificate Rate” means 0.00% per annum (computed on the basis of a 360 day year consisting of twelve 30-day months).
Certificate Principal Distributable Amount means, with respect to any Distribution Date, (i) the component of the Available Amount attributable to the Principal Distributable Amount less (ii) the sum of (a) the Note Principal Distributable Amount, (b) any amount that has been deposited into the Reserve Fund as described in clause (vi) of Section 4.06(c) and (c) the Certificate Interest Distributable Amount.
Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero. "CERTIFICATE RATE" means 3.96% per annum (computed on the basis of a 360 day year consisting of twelve 30-day months).
Certificate Principal Distributable Amount. With respect to (i) any Distribution Date prior to the Final Scheduled Distribution Date, the sum of (a) the Certificate Percentage of the Principal Distributable Amount, (b) amounts transferred from the Pre-Funding Account to the Certificate Account on such Distribution Date, if any, pursuant to Section 3.14(b) less any undistributed income or gain from investments on deposit in the Pre-Funding Account so transferred, and (c) the Certificate Principal Carryover Shortfall with respect to such Distribution Date, and (ii) the Final Scheduled Distribution Date, the Certificate Balance (before giving effect to any distribution on the Certificates on such Final Scheduled Distribution Date). Certificate Rate: 6.33% per annum, any regular monthly computation of interest at such rate being based upon annual interest at such rate on the applicable amount divided by twelve.
Certificate Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Certificate Percentage of the Regular Principal Distributable Amount for such