Class A Default Interest definition

Class A Default Interest shall have the meaning specified in ------------------------ subsection 4.06(a) of the Agreement.
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Class A Default Interest is defined in subsection 4.02(a).
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Class A Default Interest has the meaning specified in subsection 4.06(a).
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Examples of Class A Default Interest in a sentence

  • Notwithstanding anything to the contrary herein, Class A Default Interest shall be payable or distributed to the Class A Noteholders only to the extent permitted by applicable law.


More Definitions of Class A Default Interest

Class A Default Interest means, for any Payment Date and each Class of Class A Notes, the product of (x) the sum of clauses (1) and (2) of the definition of Class A Overdue Interest with respect to such Class, (y)(1) for the Class A-1 Notes, the actual number of days elapsed in the Interest Accrual Period divided by 360 days and (2) for each other Class of Class A Notes, one-twelfth, and (z) 1%.
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Related to Class A Default Interest

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Class A-1 Rate means 2.25000% per annum (computed on the basis of the actual number of days elapsed during the relevant Interest Period and a 360‑day year).

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Default Rate means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum.