Class B Principal Commencement Date definition

Class B Principal Commencement Date means the Distribution Date on which the Class A Invested Amount is to be paid in full.

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Class B Principal Commencement Date means (a) with respect to ----------------------------------- the Accumulation Period, the first Distribution Date on which an amount equal to the Class A Invested Amount has been deposited in the Principal Funding Account and allocated to the Class A Certificates or (b) with respect to the Rapid Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full or, if there are no Available Investor Principal Collections allocable to the Investor Certificates remaining after payments have been made to the Class A Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full.

Class B Principal Commencement Date means the earliest of (a) the Class B Scheduled Payment Date, (b) the Distribution Date during the Early Amortization Period on which the Class A Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1999-1 Investor Certificates remaining after payments have been made to the Class A Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount is paid in full and (c) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.4(d), 9.2, 10.2, 12.1 or 12.2 of the Agreement and Section 3 of this Series Supplement.

Examples of Class B Principal Commencement Date in a sentence

On the Class B Principal Commencement Date, after the payment of any principal amounts to the Class A Certificates on such day, and on each Distribution Date thereafter until the Class B Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 to the Class B Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date.
The "Subordinated Excess Principal Shortfall" of Series 1998-4 for any Distribution Date from and including the Class B Principal Commencement Date shall equal the excess of the Invested Amount over the Available Investor Principal Collections for such Distribution Date (excluding any portion thereof attributable to Excess Shared Principal Collections but including any portion attributable to Shared Principal Collections).
Prior to Class B Principal Commencement Date, the amount of Principal Funding Investment Proceeds and Reserve Account Investment Proceeds for such prior Collection Period $ 14,900.70 c.
The "Subordinated Excess Principal Shortfall" of Series 199_-_ for any Distribution Date from and including the Class B Principal Commencement Date shall equal the excess of the Invested Amount over the Available Investor Principal Collections for such Distribution Date (excluding any portion thereof attributable to Excess Shared Principal Collections but including any portion attributable to Shared Principal Collections).

More Definitions of Class B Principal Commencement Date

Class B Principal Commencement Date means the earlier to occur of (i) the Distribution Date on which an amount equal to the Class A Invested Amount has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Distribution Date) and (ii) the Distribution Date on which the Class A Invested Amount is paid in full.

Class B Principal Commencement Date shall be the first Distribution Date (1) for the Controlled Accumulation Period, on which an amount equal to the Class A Investor Interest has been deposited into the Principal Funding Account identified for the Series [*] Investor Beneficiary in respect of Class A; or (2) during the Regulated Amortisation Period or the Rapid Amortisation Period, on which the Class A Investor Interest has been reduced to zero;

Class B Principal Commencement Date shall have the meaning specified in subsection 4.7(b).

Class B Principal Commencement Date means the Distribution Date ----------------------------------- on which the Class A Investor Amount is paid in full or, if the Class A Investor Amount is paid in full on the Class A Expected Payment Date and a Pay Out Event has not commenced, the Distribution Date following the Class A Expected Payment Date.

Class B Principal Commencement Date means (i) unless the Early ----------------------------------- Amortization Period shall have commenced or the Accumulation Period shall have been suspended in accordance with Section 4.16, the first Distribution Date on which the aggregate amount on deposit in the Principal Funding Account in respect of Class A Monthly Principal equals the outstanding principal balance of the Class A Certificates and (ii) if the Early Amortization Period shall have commenced or the Accumulation Period shall have been suspended in accordance with Section 4.16, the Distribution Date on which the Class A Certificates are paid in full.

Class B Principal Commencement Date shall be the first Distribution Date (1) for the Controlled Accumulation Period, on which an amount equal to the Class A1 Investor Interest and Class A2 Investor Interest has been deposited into the Principal Funding Account identified for the Series 03-3 Investor Beneficiary in respect of Class A; or (2) during the Regulated Amortisation Period or the Rapid Amortisation Period, on which the Class A1 Investor Interest and Class A2 Investor Interest has been reduced to zero;

Class B Principal Commencement Date means the first date on which principal is actually distributed to Class B Certificateholders.

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