Class A Expected Final Payment Date definition
Examples of Class A Expected Final Payment Date in a sentence
No principal will be payable to the Class A Securityholders until the earlier of the Class A Expected Final Payment Date and, upon the occurrence of a Pay Out Event, the Distribution Date following the Monthly Period in which the Pay Out Event occurs.
If the Controlled Accumulation Period Length as recalculated on any such Determination Date exceeds the number of full Due Periods following such Determination Date and preceding the Class A Expected Final Payment Date, the commencement date of the Controlled Accumulation Period will be such Determination Date.
If for one or more months during the Accumulation Period there are not sufficient funds to pay the Controlled Amortization Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Accumulation Period to make up for such shortfalls, the final payment of principal of the Class A Certificates will occur later than the Class A Expected Final Payment Date.
On the Class A Expected Final Payment Date, following the withdrawal described in the immediately preceding sentence, the Trustee shall withdraw, at the direction of the Servicer, all amounts then credited to the Class A Interest Funding Account and the Paying Agent shall distribute such amount as described in Section 6(c).
On the Class A Expected Final Payment Date, the Trustee shall withdraw, at the direction of the Servicer, all amounts then credited to the Class A Principal Funding Account.