Class B Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Certificateholders, to the extent of any Series Available Interest Collections remaining after giving effect to the withdrawal pursuant to subsection 4.9(a)(i), an amount equal to the lesser of (x) any such remaining Series Available Interest Collections and (y) the excess of (1) the sum of Class B Monthly Interest and Carryover Class B Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Certificateholders only to the extent permitted by applicable law.
Class B Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Securityholders, to the extent of any Available Series 2000-1 Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsection 4.9(a)(i) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 2000-1 Finance Charge Collections and (y) the excess of (1) the sum of Class B Monthly Interest for the Interest Accrual Period beginning in such Monthly Period and Carryover Class B Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Securityholders only to the extent permitted by applicable law.
Class B Interest. On the Effective Date, the Class B Member has made its Class B Initial Capital Contribution in cash in exchange for its Class B Units in an amount set forth in Annex I, which Class B Units comprise one hundred percent (100%) of the Class B Interest. Each Class B Member shall be entitled to the allocations, distributions and other rights as are prescribed for a Class B Member in this Agreement. Each Class B Member’s Capital Account balance as of the Effective Date with respect to its Class B Interest is as indicated on Annex I. The number of Class B Units held by each Class B Member with respect to its Class B Interest as of the Effective Date is the number indicated on Annex I.
Class B Interest. Each Class B Member shall be entitled to the allocations, distributions and other rights as are prescribed for a Class B Member in this Agreement. Each Class B Member’s Capital Account balance as of the Effective Date with respect to its Class B Interest is as indicated on Annex I. The number of Class B Units held by the Class B Member with respect to its Class B Interest as of the Effective Date is the number indicated on Annex I.
Class B Interest. On each Business Day during a Monthly ---------------- Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Certificateholders, to the extent of any Series Available Interest Collections remaining after giving effect to the withdrawal pursuant to subsection 4.9(a)(i), an amount equal to the lesser of (x) any such remaining Series Available Interest Collections and (y) the excess of (1) the sum of Class B Monthly Interest and Carryover Class B Interest over ----
Class B Interest. An amount equal to the lesser of (x) any Available Series 1997-1 Finance Charge Collections remaining after giving effect to the withdrawals to subsections 4.6(a)(i) through (vii) and (y) the sum of Class B Interest and Carryover Class B Interest, if any, shall be paid to the Class B Certificateholders. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Certificateholders only to the extent permitted by applicable law.
Class B Interest. Second, withdraw from the Interest Funding Account (and, if applicable, the Defeasance Account) to the extent of the funds available therein remaining after giving effect to the withdrawal pursuant to subsection 4.8(a)(i), and deposit into the Distribution Account for payment to Class B Certificateholders, an amount equal to the interest accrued on each Tranche of the Class B Principal Balance at the applicable Tranche Rate for the period of time such Tranche was outstanding during the Interest Accrual Period with respect to the Distribution Date (the "CLASS B INTEREST" for such Interest Accrual Period) PLUS any Class B Interest due with respect to any prior Interest Accrual Period pursuant to this subsection but not previously deposited in the Distribution Account plus interest on such undeposited amounts as described in clause (3) of subsection 4.6(a)(ii). Notwithstanding anything to the contrary herein, Class B Interest shall be payable or distributable to Class B Certificateholders only to the extent permitted by applicable law.
Class B Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall allocate to the Class B Certificates and withdraw first from the Cap Proceeds Account to the extent of the remaining Cap Receipt Amount for such Business Day, and then from the Collection Account and then from the Payment Reserve Account and then, on each Reserve Application Date, from the Investor Reserve Account and deposit into the Interest Fund- ing Account, to the extent of the Available Series 1995-1 Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsec- tion 4.9(a)(i), an amount equal to the lesser of (x) any such remaining Available Series 1995-1 Finance Charge Collections and (y) the sum of (A) the Daily Portion of Class B Interest to be distributed on the Distribution Date following such Monthly Period plus (B) the excess, if any, of the amount required to be deposited pursuant to clause (A) above on each prior Business Day over the amount on deposit in the Interest Funding Account with respect thereto on such Business Day plus (C) an amount equal to the portion of Carryover Class B Interest attributable to amounts required to be deposited pursuant to clause (A) above that were not so deposited prior to such Business Day minus the amounts required to be deposited pursuant to clause (B) above.
Class B Interest. Upon a resolution adopted by the Board of Directors of the Company authorizing the issuance of a Class B Interest to a Recipient pursuant to Section 3.5(a) of the Second Amended Operating Agreement of the Company dated October 1, 2002 (the "OPERATING AGREEMENT"), and such Recipient's execution of the Agreement and the Operating Agreement, such Recipient shall be issued a Class B Interest to which is assigned a Percentage Interest as set forth in the Agreement (which shall be reflected on Schedule A of the Operating Agreement) and become a member of the Company, subject to the terms and conditions of the Agreement and the Operating Agreement, including (without limitation) a vesting schedule.
Class B Interest. The Class B Interest shall have an initial Capital Account equal to the amount set forth on Exhibit B. The Class B Interest shall have no interest in Net Profits or Net Losses.
