Priority Principal Distribution Amount definition
Priority Principal Distribution Amount means, with respect to any Payment Date, an amount not less than zero, equal to (i) the Outstanding Amount of the Notes as of the preceding Payment Date (after giving effect to any principal payments made on the Notes on such preceding Payment Date) or, in the case of the first Payment Date, the Initial Note Balance, minus (ii) the ▇▇▇▇-▇ ▇▇▇▇▇▇▇▇▇ Securitization Value at the end of the related Collection Period; provided, however, that the Priority Principal Distribution Amount on and after the Final Scheduled Payment Date of any Class of the Notes will not be less than the amount that is necessary to reduce the Note Balance of that Class of Notes to zero.
Priority Principal Distribution Amount means, with respect to a Payment Date, the excess, if any, of (i) the Outstanding Amount of the Class A Notes immediately prior to such Payment Date over (ii) (a) the Related Pool Balance minus (b) the YSOA for such Payment Date.
Priority Principal Distribution Amount means, with respect to any Payment Date, an amount not less than zero, equal to (i) the aggregate Outstanding Amount of all the Notes as of the preceding Payment Date (after giving effect to any principal payments made on the Notes on that preceding Payment Date) or the Closing Date (in the case of the first Payment Date), as the case may be, minus (ii) the Adjusted Pool Balance; provided however, that the Priority Principal Distribution Amount shall not exceed the sum of the aggregate Outstanding Amount of all of the Notes on that Payment Date; and provided further, that the Priority Principal Distribution Amount on and after the Final Scheduled Payment Date of a Class of Notes shall not be less than the amount that is necessary to reduce the Outstanding Amount of that Class of Notes and all earlier maturing Classes of Notes to zero.
Examples of Priority Principal Distribution Amount in a sentence
Additionally, any portion of the First Priority Principal Distribution Amount, the Second Priority Principal Distribution Amount and the Regular Principal Distribution Amount shall be deemed to be due and payable on any date where the Servicer elects to exercise its Optional Purchase and the Issuer redeems the outstanding Notes pursuant to Section 10.01.
For the avoidance of doubt, the First Priority Principal Distribution Amount, the Second Priority Principal Distribution Amount and the Regular Principal Distribution Amount, or any portion thereof, shall not be due (other than in accordance with Section 2.08(b) above) unless amounts are actually available to make such payments in accordance with Section 5.05(b) of the Sale and Servicing Agreement.
Servicing Fee Interest - Class A-1 Notes Interest - Class A-2 Notes Interest - Class A-3 Notes Interest - Class A-4 Notes First Priority Principal Distribution Amount Interest - Class B Notes Second Priority Principal Distribution Amount Reserve Account Deposit Regular Principal Distribution Amount Excess Amounts to the Certificateholder Class A-1 Notes Class A-2 Notes Class A-3 Notes Class A-4 Notes Class B Notes I hereby certify to the best of my knowledge that the report provided is true and correct.
More Definitions of Priority Principal Distribution Amount
Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date), over (b) the Pool Balance as of the end of the related Collection Period; provided, however, that (i) the Priority Principal Distribution Amount on the Class A-1 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-1 Notes to zero; (ii) the Priority Principal Distribution Amount on the Class A-2 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2 Notes to zero; (iii), the Priority Principal Distribution Amount on the Class A-3 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-3 Notes to zero; and (iv) the Priority Principal Distribution Amount on the Class A-4 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-4 Notes to zero.
Priority Principal Distribution Amount. With respect to any Distribution Date:
Priority Principal Distribution Amount. For any Distribution Date, the lesser of (a) 98% of the Senior Optimal Principal Amount and (b) the sum of (A) the aggregate of the Priority Scheduled Distribution Percentage multiplied by each of the amounts referred to in clauses (i) and (ii) of the definition “Senior Optimal Principal Amount”; and (B) the aggregate of the Priority Prepayment Distribution Percentage multiplied by each of the amounts referred to in clauses (iii) and (iv) of the definition “Senior Optimal Principal Amount”; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan that is not a Liquidated Loan, the Priority Principal Distribution Amount will be reduced on the related Distribution Date by the Priority Scheduled Distribution Percentage multiplied by the Senior Percentage related to the Senior Certificates multiplied by the applicable Non-PO Percentage relating to the Mortgage Loans of the principal portion of such Bankruptcy Loss multiplied by the Applicable Fraction of such Mortgage Loan.
Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the aggregate outstanding principal amount of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date), over (b) the Pool Balance as of the last day of the related Collection Period; provided, however, that (i) the Priority Principal Distribution Amount on the Class A-1 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-1 Notes to zero; (ii) the Priority Principal Distribution Amount on the Class A-2 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2 Notes to zero; (iii) the Priority Principal Distribution Amount on the
Priority Principal Distribution Amount means, with respect to any payment date, an amount equal to the excess, if any, of (a) the aggregate outstanding principal amount of the notes as of such payment date (before giving effect to any principal payments made on the notes on such payment date), over (b) the aggregate principal balance of the receivables as of the last day of the related collection period; provided, that, for the final scheduled payment date of any class of notes, the “priority principal distribution amount” will not be less than the amount necessary to reduce the outstanding amount of such class of notes to zero.
Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Outstanding Amount of the Notes as of the preceding Payment Date (after giving effect to any principal payments made on such preceding Payment Date) or Closing Date, as the case may be, over (b) the Pool Balance as of the close of business on the last day of the related Collection Period; provided, however, that the Priority Principal Distribution Amount shall not exceed the sum of the Outstanding Amount of all the Notes and the Certificate Balance on such Payment Date (prior to giving effect to any principal payments made on such Payment Date); and provided further, that (i) the Priority Principal Distribution Amount on the Class A-1 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Outstanding Amount of the Class A-1 Notes to zero; (ii) the Priority Principal Distribution Amount on the Class A-2 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Outstanding Amount of the Class A-2 Notes to zero; and (iii) the Priority Principal Distribution Amount on the Class A-3 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Outstanding Amount of the Class A-3 Notes to zero.
Priority Principal Distribution Amount. For any Distribution Date is the lesser of (i) sum of the Priority Percentage Distribution Amount and the Priority Prepayment Percentage Distribution Amount and (ii) the sum of the Class Principal Balance of the Class A-7 and Class A-8 Certificates.