Class A-1b Notes definition

Class A-1b Notes means the $175,000,000 Class A-1b Compounded SOFR (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.58% 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 $166,000,000 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

• 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.

• 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.

• The Indenture Trustee shall calculate One-Month LIBOR as of each LIBOR Determination Date for so long as the Class A-1b Notes are Outstanding; provided that if One-Month LIBOR does not appear on the Reuters Screen LIBOR01 Page on any LIBOR Determination Date the Indenture Trustee shall calculate One-Month-LIBOR using the rates solicited or as otherwise 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-1[a] Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E 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].

• The Class A-1a Notes, the Class A-1b Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class D Notes.

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 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 $267,303,000 Class X-0x Xxxxxxxxxx XXXX (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.85% Asset Backed Notes issued by the Trust, substantially in the form of Exhibit A to this 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 Class A-1B Notes due October 25, 2035 issued under this Indenture in the original aggregate principal amount set forth in Section 2.02.