Class A-2 Breakage Costs definition

Class A-2 Breakage Costs means, with respect to any Due Period, “breakage costs”, if any, incurred by Class A-2 Noteholders as a result of (i) a prepayment of amounts under the Class A-2 Notes on a day other than a Distribution Date and calculated as provided in the Class A-2 Purchase Agreement or (ii) a failure by the Issuer to effect a Draw on the scheduled date therefor after having submitted a request for a Draw to the Class A-2 Agent in accordance with the provisions of the Class A-2 Purchase Agreement (unless such failure is due to the failure of the Class A-2 Noteholders to fund such Draw).
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Class A-2 Breakage Costs means, with respect to any Due Period, “breakage costs”, if any, incurred by Class A-2 Noteholders as a result of (i) a prepayment of amounts under the Class A-2 Notes on a day other than a Distribution Date and calculated as provided in the Class A-2 Purchase Agreement or (ii) a failure by the Issuer to effect a Draw on the scheduled date therefor after having submitted a request for a Draw to the Class A-2 Agent in accordance with the provisions of the Class A-2 Purchase Agreement.
Sample 1
Class A-2 Breakage Costs. With respect to (i) any Prepayment of Class A-2 Notes (whether in connection with a permitted Prepayment of Borrowings due to acceleration or otherwise) or (ii) failure to effect a Borrowing on the scheduled date therefor after having submitted a Borrowing request to the Class A-2 Note Agent in accordance with the Class A-2 Note Purchase Agreements, the amounts payable to any Holder of Class A-2 Notes for any loss, cost and expense to such Holder of Class A-2 Notes attributable to such Prepayment or failed Borrowing. The loss to any Holder of Class A-2 Notes attributable to any such Prepayment or failed Borrowing will be deemed to be an amount determined by such Noteholder to be equal to either (i) the excess, if any, of (A) such Noteholder’s cost of funding the principal amount of such Prepayment or failed Borrowing, for the period from the date of such Prepayment or failed Borrowing to but excluding the next Payment Date over (B) the amount of interest obtainable by such Holder of Class A-2 Notes upon the redeployment (in deposits with leading banks which are rated “A-1+” by S&P and “P-1” by Moody’s) of an amount of funds equal to the amount of such Prepayment or failed Borrowing for the period from the date of such Prepayment or failed Borrowing to but excluding the next Payment Date or (ii) if such Holder of Class A-2 Notes is able to terminate the funding source of such Prepayment or failed Borrowing before its scheduled maturity date, any costs associated with such termination. The Issuer will pay such Holder of Class A-2 Notes the amount claimed by such Holder of Class A-2 Notes on the Payment Date following the Due Period in which such claim is made (together with interest thereon at the Note Interest Rate applicable to the Class A-2 Notes for the period from such prepayment or failure to borrow through such Payment Date). For any Holder of Class A-2 Notes that is an agent under the Class A-2 Note Purchase Agreements, references above to such Holder’s cost of funding, the amount of interest obtainable by such Holder of Class A-2 Notes upon redeployment of funds or other similar matters will include reference to the applicable members of the related ownership group under the Class A-2 Note Purchase Agreement.
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Examples of Class A-2 Breakage Costs in a sentence

  • The principal of, interest, Class A-2 Commitment Fee and any Class A-2 Increased Costs and Class A-2 Breakage Costs on this Class A-2 Note are payable in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts.

  • The Issuer will duly and punctually pay the principal of and interest on the Notes and, in the case of the Class A-2 Notes, the Class A-2 Commitment Fee and any Class A-2 Increased Costs or Class A-2 Breakage Costs, in accordance with the terms of such Notes, this Indenture and the Sale and Servicing Agreement (including the Priority of Payments therein).

  • Any Class A-2 Breakage Costs shall be paid on the first Distribution Date following the applicable Interim Distribution Date in accordance with the Priority of Payments.

  • Subject to the Priority of Payments, the Trustee shall make all payments of principal of and interest on the Notes and, with respect to the Class A-2 Notes, the Class A-2 Commitment Fee and any Class A-2 Increased Costs or Class A-2 Breakage Costs, subject to Section 3.03 and as provided in Section 3.05 herein from moneys on deposit in the Note Distribution Account.

  • The Issuer hereby appoints the Trustee as Paying Agent for the payment of principal and interest on the Notes and, with respect to the Class A-2 Notes, the Class A-2 Commitment Fee and any Class A-2 Increased Costs or Class A-2 Breakage Costs.

  • A Class A-2 Prepayment may be made on any Distribution Date in accordance with the Priority of Payments or any Business Day other than a Distribution Date (the date of such a Class A-2 Prepayment, an “Interim Distribution Date”), subject to the payment by the Issuer of Class A-2 Breakage Costs, if any, incurred in connection with such Class A-2 Prepayment on any Interim Distribution Date, as described below.

  • Subject to the Priority of Payments, the Indenture Trustee shall make all payments of principal of and interest on the Notes and, with respect to the Class A-2 Notes, the Class A-2 Commitment Fee and any Class A-2 Increased Costs or Class A-2 Breakage Costs, subject to Section 3.03 and as provided in Section 3.05 herein from moneys on deposit in the Note Distribution Account.

  • Any Prepayment made on a Payment Date (including a Prepayment pursuant to Section 9.01(b) hereof) will be subject to the Priority of Payments and the Holders of the Class A-2 Notes will not be entitled to Class A-2 Breakage Costs in connection with such a Prepayment so long as the Issuer has given to such Holders at least three Business Days prior written notice of the amount of such Prepayment.

  • The Indenture Trustee shall be permitted to rely on a certificate from the related Class A-2 Holder regarding the amount of any Class A-2 Increased Costs or Class A-2 Breakage Costs.

  • The Issuer shall also pay the Class A-2 Breakage Costs and Class A-2 Increased Costs from time to time as provided in the Indenture.


More Definitions of Class A-2 Breakage Costs

Class A-2 Breakage Costs has the meaning specified in Section 3.08(d).
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Related to Class A-2 Breakage Costs

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2 Monthly Interest means, (i) for the first Distribution Date, the product of the following: one-twelfth of the Class A-2 Pass-Through Rate multiplied by the Class A-2 Certificate Balance at the Closing Date and (ii) for any subsequent Distribution Date, one-twelfth of the product of the Class A-2 Pass-Through Rate and the Class A-2 Certificate Balance as of the immediately preceding Distribution Date (after giving effect to any distribution of Monthly Principal made on such immediately preceding Distribution Date).

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Rate means [ ]% per annum.

  • Class A-2 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

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

  • Class A-2-B Notes means the Class of Auto Loan Asset Backed Notes designated as Class A-2-B Notes, issued in accordance with the Indenture.

  • Class A-4 Note Interest Rate means a rate per annum equal to 2.11%.

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

  • Class A-1 Note Interest Rate means a rate per annum equal to %.

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class A-1 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, the product of (A) the actual number of days elapsed during the period from and including the preceding Distribution Date to but excluding such Distribution Date divided by 360, (B) the Class A-1 Rate and (C) the outstanding principal balance of the Class A-1 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-1 Notes on or before such preceding Distribution Date).

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-1 Interest Rate means 0.19000% per annum (computed on the basis of the actual number of days in the related Interest Accrual Period divided by 360).

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Class A-1 Note Rate means, with respect to any Quarterly Interest Period, the interest rate per annum (computed on the basis of the actual number of days in such Quarterly Interest Period over a year of 360 days) equal to Three-Month LIBOR for the related LIBOR Reset Period plus 0.08%.

  • Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class B-4 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-3 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-3 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-3 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-3 Prepayment Percentage for such Distribution Date will be zero.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Class B Note Rate means % per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class B Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].