Class C Principal Payment Commencement Date definition

Class C Principal Payment Commencement Date means the earlier of (a) (i) with respect to the Accumulation Period, the Expected Final Payment Date or (ii) during the Early Amortization Period, the first Distribution Date on which the Class B Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1997-2 Certificates remaining after payments have been made to the Class B Certificates on such Distribution Date, the Distribution Date following the first Distribution Date on which the Class B Invested Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(e), 9.2, 10.2(a), 12.1 or 12.2 of the Agreement or Section 3 of this Series Supplement.

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Class C Principal Payment Commencement Date means the earlier of (a) the Distribution Date on which the Class B Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 2000-1 Investor Certificates remaining after payments have been made to the Class B Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class B Invested Amount is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.04(d), 9.02, 10.02, 12.01 and 12.02 of the Agreement and Section 3 of this Series Supplement.

Class C Principal Payment Commencement Date means the earlier of (a) the Distribution Date in an Amortization Period on which the Class B Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1995-1 Investor Certificates remaining after payments have been made to the Class B Certificates on such Distribution Date, the Distribution Date following the Distribution Date on which the Class B Invested Amount is paid in full and (b) 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 C Principal Payment Commencement Date in a sentence

On the Class C Principal Payment Commencement Date, after the payment of any principal amounts to the Class B Certificates on such day, and on each Distribution Date thereafter until the Class C Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 to the Class C Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date.
No principal will be payable to the Class D Certificateholders until all principal payments have first been made to the Class A Certificateholders and then on and after the Class B Principal Payment Commencement Date, after all principal payments have been made to the Class B Certificatehold- ers and then on and after the Class C Principal Payment Commencement Date, after all payments have been made to the Class C Certificateholders.
On the Class C Principal Payment Commencement Date interest and principal will be distributed to the Class C Securityholders on each Business Day prior to the Series 1998-3 Termination Date.
On and after the Class C Principal Payment Commencement Date, on each Distribution Date until the Class C Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Administrative Agent from the Distribution Account such amounts deposited with respect to Class C Principal into the Distribution Account on the related Transfer Date.
On the Transfer Date preceding the Class C Principal Payment Commencement Date and each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account, to the extent of funds available, an amount equal to the Class C Principal for such Distribution Date and deposit such amount in the Distribution Account.
After the Amortization Period Commencement Date no principal will be payable to the Class C Securityholders until the Class C Principal Payment Commencement Date, which is the Business Day either on or following the Business Day, on which the Class B Invested Amount had been paid in full.
No principal will be payable to the Class C Certificateholders until the Class C Principal Payment Commencement Date, which is the Distribution Date either on or following the Distribution Date, on which the Class B Invested Amount had been paid in full.

More Definitions of Class C Principal Payment Commencement Date

Class C Principal Payment Commencement Date means, following an Amortization Period Commencement Date, the earlier of (a) the Business Day on which the Class A Invested Amount and the Class B Invested Amount are paid in full or, if there are no Principal Collections allocable to the Series 2002-1 Variable Funding Certificates remaining after payments have been made to the Class A Certificates and the Class B Certificates on such Business Day, the Business Day following the Business Day on which the Class A and the Class B Invested Amount are paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Section 2.4(d), 9.2, 10.2, 12.1 or 12.2 of the Agreement or Section 3 of this Variable Funding Supplement.

Class C Principal Payment Commencement Date means the earlier of (a) the first Business Day in the Amortization Period on which the Class B Invested Amount is paid in full or, if there are no Principal Collections allocable to the Series 1998-3 Securities remaining after payments have been made to the Class B Securities on such Business Day, the Business Day following the Business Day on which the Class B Invested Amount is paid in full, and (b) the Business Day following a sale or repurchase of the Receivables as set forth in Sections 2.4(e), 9.2, 10.2, 12.1 or 12.2 of the Agreement and Section 3 of this Series Supplement.

Class C Principal Payment Commencement Date means the earlier of (a) the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount (and if any Class B-2 Certificates were theretofore outstanding, the Class B-2 Invested Amount) is paid in full or, if there are no Principal Collections allocable to the Series 1997-1 Investor Certificates remaining after payments have been made to the Class A Certificates and the Class B Certificates (and, if applicable, the Class B-2 Certificates) on such Distribution Date, the Distribution Date following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount (and, if applicable, the Class B-2 Invested Amount) is paid in full and (b) the Distribution Date following a sale or repurchase of the Receivables as set forth in Sections 2.4(e), 9.2, 10.2(a), 12.1 and 12.2 of the Agreement and Section 3 of this Series Supplement.

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