Class A Monthly Interest definition

Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

Class A Monthly Interest means the monthly interest distributable in respect of the Class A Certificates as calculated in accordance with subsection 4.06(a).

Class A Monthly Interest due and payable with respect to the Class A Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (ii) the Class A Note Interest Rate in effect with respect to the related Interest Period and (iii) the Class A Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Payment Date, the Class A Note Initial Principal Balance). With respect to each Payment Date, the Issuer shall determine the excess, if any (the “Class A Deficiency Amount”), of (x) the aggregate amount of Class A Monthly Interest payable pursuant to this Section 4.1(a) as of the prior Payment Date over (y) the amount of Class A Monthly Interest actually paid on such Payment Date. If the Class A Deficiency Amount for any Payment Date is greater than zero, on each subsequent Payment Date until such Class A Deficiency Amount is fully paid, an additional amount (“Class A Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (ii) the Class A Note Interest Rate in effect with respect to the related Interest Period plus 2% per annum and (iii) such Class A Deficiency Amount (or the portion thereof which has not been paid to the Class A Noteholders) shall be payable as provided herein with respect to the Class A Notes. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to the Class A Noteholders only to the extent permitted by applicable law.

Examples of Class A Monthly Interest in a sentence

• On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class A Interest Shortfall”), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Distribution Date.

• On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall"), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Distribution Date.

• During the Rapid Amortization Period, in addition to Class A Monthly Interest, Class A Monthly Principal will be distributed to the Class A Certificateholders on each Distribution Date commencing in the month following the commencement of the Rapid Amortization Period until the Class A Certificates have been paid in full.

• With respect to each Payment Date, the Issuer shall determine the excess, if any (the “Class A Deficiency Amount”), of (x) the aggregate amount of Class A Monthly Interest payable pursuant to this Section 4.1(a) as of the prior Payment Date over (y) the amount of Class A Monthly Interest actually paid on such Payment Date.

• The amount of any Class A Monthly Interest previously due but not deposited in the Class A Interest Funding Account on a prior Distribution Date....

More Definitions of Class A Monthly Interest

Class A Monthly Interest is defined in Section 4.2(a).

Class A Monthly Interest means, with respect to (i) the initial Series 2019-3 Interest Period, an amount equal to $807,565.78 and (ii) any other Series 2019-3 Interest Period, an amount equal to the product of (A) one-twelfth of the Class A Note Rate and (B) the Class A Invested Amount on the first day of such Series 2019-3 Interest Period, after giving effect to any principal payments made on such date.

Class A Monthly Interest means the sum of Class A-1 Monthly Interest, Class A-2 Monthly Interest, Class A-3 Monthly Interest and Class A-4 Monthly Interest.

Class A Monthly Interest due and payable with respect to the Class A Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is three hundred sixty (360), (ii) the Class A Note Interest Rate in effect with respect to the related Interest Period and (iii) the Class A Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Payment Date, the Class A Note Initial Principal Balance).

Class A Monthly Interest has the meaning specified in Section 4.02(a).

Class A Monthly Interest means, for any Distribution Date, an amount equal to one-twelfth (or the actual number of days from and including the Closing Date to but excluding _____________, 200_ divided by 360, for the initial Distribution Date) of the Class A Certificate Rate multiplied by the Class A Certificate Balance as of the close of business on the immediately preceding Distribution Date, after giving effect to all payments of principal to the Class A Certificates on or prior to such Distribution Date (or, in the case of the first Distribution Date, the Original Class A Certificate Balance).

Class A Monthly Interest has the meaning specified in Section 5.12(a).