Examples of Accrued Note Interest in a sentence

On each Payment Date, Accrued Note Interest (other than Post-ARD Additional Interest) then due on all Classes of Notes will be paid from amounts on deposit in the Collection Account in accordance with Sections 5.01(a)(iv), 5.01(a)(v) and 5.01(a)(xiv), respectively.
Payments in respect of these amounts shall be allocated among the Classes of Notes in direct order of alphanumerical designation and shall be allocated within a Class to the Holder of each Note of that Class pro rata based on the amount of Accrued Note Interest accrued on such Note.

More Definitions of Accrued Note Interest

Accrued Note Interest. With respect to any Payment Date and any Class of Notes, the aggregate amount of interest accrued at the applicable Note Interest Rate during the related Accrual Period on the Class Principal Amount of such Class immediately prior to such Payment Date, provided, however, that for any class of Notes and any Payment Date, Accrued Note Interest will be reduced by the amount specified in clause (a) of the definition of Deferred Interest, if any for such Class and Payment Date.

Accrued Note Interest. With respect to any Payment Date and each Class of Notes, interest accrued during the related Accrual Period at the then-applicable Note Interest Rate on the related Note Principal Balance thereof immediately prior to such Payment Date, plus any Accrued Note Interest remaining unpaid from any prior Payment Date with interest thereon at the related Note Interest Rate. Accrued Note Interest for each Class of Notes shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.

Accrued Note Interest. With respect to any class of Notes and any Payment Date, an amount equal to interest accrued for the related Interest Accrual Period on the related Note Balance immediately prior to that Payment Date at the related Note Rate for that Payment Date. Accrued Note Interest for the Class A Notes (other than the Class A-1 Notes) will be calculated on the basis of a 30-day month in the related Interest Accrual Period and a 360-day year. Accrued Note Interest for the Class A-1 Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year.

Accrued Note Interest. As to any Payment Date and each Class of Notes, the amount of interest accrued during the related Interest Accrual Period on the related Class Note Balance immediately prior to such Payment Date at the related Interest Rate, as reduced by such class’s share of any Net Prepayment Interest Shortfalls and any shortfalls resulting from the application of the Relief Act (or any similar state statutes), provided, however, that in the case of any Class M Note, such amount shall be reduced by the amount described in clause (a) in the definition of Deferred Interest allocated to such class.

Accrued Note Interest. With respect to any Class of Notes and any Payment Date, the amount of interest accrued during the related Accrual Period at the applicable Note Interest Rate on the Note Principal Balance or Notional Amount of such Note immediately prior to such Payment Date, less (1) in the case a Senior Note, such Class's share of (a) Prepayment Interest Shortfalls, to the extent not covered by Compensating Interest paid by the Servicer or the Master Servicer, (b) interest shortfalls on the Mortgage Loans resulting from the application of the Relief Act or similar state law and (c) after the Cross-Over Date, the interest portion of any Realized Losses on the Mortgage Loans and (2) in the case of a Subordinate Note, such Class's share of (a) Prepayment Interest Shortfalls on the mortgage loans, to the extent not covered by Compensating Interest paid by the Servicer or the Master Servicer, (b) interest shortfalls on the Mortgage Loans resulting from the application of the Relief Act or similar state law and (c) the interest portion of any Realized Losses on the mortgage loans. Prepayment Interest Shortfalls and interest shortfalls resulting from the application of the Relief Act will be allocated among the Notes in proportion to the amount of Accrued Note Interest that would have been allocated thereto in the absence of such shortfalls. Accrued Note Interest on the Notes will be calculated on the basis of a 360-day year consisting of 30-day months.

Accrued Note Interest. With respect to any Class A Note or Mezzanine Note and each Payment Date, interest accrued during the related Interest Accrual Period at the Note Rate for such Note for such Payment Date on the Note Balance immediately prior to such Payment Date. All payments of interest on the Class A Notes and the Mezzanine Notes will be calculated on the basis of a 360-day year and the actual number of days in the applicable Interest Accrual Period. Accrued Note Interest with respect to each Payment Date, as to any Class A Note or Mezzanine Note, shall be reduced by an amount equal to the portion allocable to such Note pursuant to Section 3.30 of the Indenture of the sum of (a) the aggregate Prepayment Interest Shortfall, if any, for such Payment Date to the extent not covered by payments pursuant to Section 3.24 of the Servicing Agreement and (b) the aggregate amount of any Relief Act Interest Shortfall, if any, for such Payment Date.