Note Principal Distributable Amount definition
Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Payment Date for a Class of Notes or the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.
Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Scheduled Payment Date for a Class of Notes or 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 amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of (x) the Principal Distributable Amount with respect to such Distribution Date and (y) the Note Principal Carryover Shortfall as of the close of the immediately preceding Distribution Date, minus the aggregate amount of the First Priority Distributable Amount and the Second Priority Distributable Amount distributed on such Distribution Date; provided, however, that the Note Principal Distributable Amount shall not exceed the Outstanding Amount of the Notes (after giving effect to the other amounts to be deposited in the Note Distribution Account in respect of the First Priority Principal Distributable Amount and the Second Priority Principal Distributable Amount on such Distribution Date); and provided, further, that the Note Principal Distributable Amount (i) on the Class A-1 Final Distribution Date shall not be less than the amount that is necessary (after giving effect to other amounts to be deposited in the Note Distribution Account for payment on the Class A-1 Notes on such Distribution Date and allocable to principal) to reduce the Outstanding Amount of the Class A-1 Notes to zero, (ii) on the Class A-2 Final Distribution Date shall not be less than the amount that is necessary (after giving effect to other amounts to be deposited in the Note Distribution Account for payment on the Class A-2 Notes on such Distribution Date and allocable to principal) to reduce the Outstanding Amount of the Class A-2 Notes to zero, (iii) on the Class A-3 Final Distribution Date shall not be less than the amount that is necessary (after giving effect to other amounts to be deposited in the Note Distribution Account for payment on the Class A-3 Notes on such Distribution Date and allocable to principal) to reduce the Outstanding Amount of the Class A-3 Notes to zero, (iv) on the Class A-4 Final Distribution Date shall not be less than the amount that is necessary (after giving effect to other amounts to be deposited in the Note Distribution Account for payment on the Class A-4 Notes on such Distribution Date and allocable to principal) to reduce the Outstanding Amount of the Class A-4 Notes to zero, (v) on the Class B Final Distribution Date shall not be less than the amount that is necessary (after giving effect to the other amounts to be deposited in the Note Distribution Account for payment on the Class B Notes on such Distribution Date and allocable to principal) to reduce the Outstanding Amount on the Class B ...
Examples of Note Principal Distributable Amount in a sentence
In the event that the Indenture Trustee determines that there exists a Shortfall, the Indenture Trustee shall no later than 12:00 noon, Chicago, Illinois time, on such Distribution Date remit monies from the Reserve Fund in the following order of priority: first, to the Note Distribution Account, the amount of such Shortfall relating to the Note Interest Distributable Amount and second, to the Note Distribution Account, the amount of such Shortfall relating to the Note Principal Distributable Amount.
In the event that the Indenture Trustee determines that there exists a Shortfall, the Indenture Trustee shall no later than 12:00 noon, Chicago, Illinois time, on such Distribution Date remit monies from the Reserve Fund in the following order of priority: first, to the Note Distribution Account; the amount of such Shortfall relating to the Note Interest Distributable Amount and second, to the Note Distribution Account, the amount of such Shortfall relating to the Note Principal Distributable Amount.
The Borrower will pay interest on this 20[__]-[_] Exchange Note in an amount equal to the 20[__]-[_] Exchange Note Interest Distributable Amount, and principal on this 20[__]-[_] Exchange Note in an amount equal to the 20[__]-[_] Exchange Note Principal Distributable Amount, in each case, until the principal of this 20[__]-[_] Exchange Note is paid or made available for payment.
For each Payment Date, the amount of principal payable with respect to the 2019-A Exchange Note will be equal to the 2019-A Exchange Note Principal Distributable Amount.
The Borrower will pay interest on this 2024-B Exchange Note in an amount equal to the 2024-B Exchange Note Interest Distributable Amount and principal on this 2024-B Exchange Note in an amount equal to the 2024-B Exchange Note Principal Distributable Amount, in each case until the principal of this 2024-B Exchange Note is paid or made available for payment.
More Definitions of Note Principal Distributable Amount
Note Principal Distributable Amount means with respect to any Payment Date, the Total Principal Payment Amount, provided, however, that in no event may the Note Principal Distributable Amount with respect to any Payment Date exceed the Principal Amount of the Notes immediately prior to such Payment Date.
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Regular Principal Distributable Amount for such Distribution Date, (ii) the Accelerated Principal Distributable Amount, if any, for such Distribution Date and (iii) any outstanding Note Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Note Principal Distributable Amount shall not exceed the aggregate outstanding principal amount of the Notes. Notwithstanding the foregoing, the Note Principal Distributable Amount on the Note Final Scheduled Distribution Date for each Class of Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the related Class of Notes to zero.
Note Principal Distributable Amount means the Class A Note Principal Distributable Amount and the Class B Note Principal Distributable Amount.
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Note Quarterly Principal Distributable Amount and the Accelerated Principal Distributable Amount, if any, for such Distribution Date and any outstanding Note Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the outstanding principal amount of such Class of Notes; and provided, further, that the Note Principal Distributable Amount on each Note Final Distribution Date shall not be less than the amount that is necessary (after giving effect to other amounts to be deposited in the Note Distribution Account on such Distribution Date and allocable to principal) to reduce the outstanding principal amount of the related Class of Notes to zero.
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of the Note Quarterly Principal Distributable Amount and the Accelerated Principal Distributable Amount, if any, for such Distribution Date and any outstanding Note Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Note Percentage of the Regular Principal Distributable Amount for such Distribution Date, (ii) the Accelerated Principal Distributable Amount, if any, for such Distribution Date and (iii) any outstanding Note Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Note Principal Distributable Amount shall not exceed the aggregate outstanding principal amount of the Notes. Notwithstanding the foregoing, the Note Principal Distributable Amount on each Note Final Scheduled Distribution Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the related class of Notes to zero.
Note Principal Distributable Amount means, with respect to any Distribution Date, the sum of (i) the Note Percentage of the Regular Principal Distributable Amount for such Distribution Date, (ii) the Accelerated Principal Distributable Amount, if any, for such Distribution Date and (iii) any outstanding Note Principal Carryover Shortfall for the immediately preceding Distribution Date; provided, however, that the Note Principal Distributable Amount shall not exceed the aggregate outstanding principal amount of the Notes. Notwithstanding the foregoing, the Note Principal Distributable Amount on the Final Scheduled Distribution Date for each class of Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the related class of Notes to zero.