Class A-1b Notes definition

Class A-1b Notes means the $245,918,000 Class A-1b Compounded SOFR (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.55% Asset Backed Notes issued by the Trust, substantially in the form of Exhibit A to this Indenture.

Class A-1b Notes. The Floating Rate Asset Backed Notes, Class A-1b in the initial aggregate principal balance of $205,000,000 issued pursuant to the Indenture.

Class A-1b Notes means the $200,000,000 Class X-0x Xxx-Xxxxx XXXXX + 0.24% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.

Examples of Class A-1b Notes in a sentence

• So long as the Class A-1b Notes are Outstanding, the Note Paying Agent shall obtain Compounded SOFR in accordance with the definition of “Compounded SOFR” on each SOFR Adjustment Date and shall promptly provide such rate to the Administrator or such person as directed by the Administrator.

• Interest on the Notes for each Interest Period will be calculated on the basis of (i) in the case of the Class A-1a Notes, the Class B Notes and the Class C Notes, a 360-day year consisting of twelve 30-day months and (ii) in the case of the Class A-1b Notes, a 360-day year and the actual number of days elapsed in the related Interest Period.

• Class Note Interest Rate Initial Note Balance Class A-1a Notes 5.21% $288,686,000 Class A-1b Notes Compounded SOFR* + 0.55% $245,918,000 Class B Notes 5.40% $40,872,000 Class C Notes 5.60% $24,524,000 __________________ * Upon the occurrence of a Benchmark Transition Event, Compounded SOFR will be replaced by the appropriate Benchmark Replacement as set forth in Section 2.16 of this Indenture.

More Definitions of Class A-1b Notes

Class A-1b Notes means the $100,000,000 Class A-1b One-Month LIBOR (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.27% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.

Class A-1b Notes has the meaning set forth in the first recital.

Class A-1b Notes means the $[__] Class A-1b [One-Month LIBOR] [+][-] [__]% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.]

Class A-1b Notes. The Class A-1B Notes due October 25, 2035 issued under this Indenture in the original aggregate principal amount set forth in Section 2.02.

Class A-1b Notes means the $ Class A-1b Floating Rate Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.]

Class A-1b Notes means the $301,000,000 Taxable Student Loan Asset-Backed Notes, Senior Series 2021-1A-1B issued by the Authority pursuant to this Indenture, substantially in the form of Exhibit A-2 hereto.

Class A-1b Notes. The Floating Rate Asset Backed Notes, Class A-1b in the initial aggregate principal balance of $171,000,000 issued pursuant to the Indenture. Class A-2 Notes: The 0.96% Asset Backed Notes, Class A-2 in the initial aggregate principal balance of $300,000,000 issued pursuant to the Indenture. Class A-3 Notes: The 1.32% Asset Backed Notes, Class A-3 in the initial aggregate principal balance of $338,000,000 issued pursuant to the Indenture. Class A-4 Notes: The 1.69% Asset Backed Notes, Class A-4 in the initial aggregate principal balance of $92,400,000 issued pursuant to the Indenture.