Class A Usage of Class C Notes definition

Class A Usage of Class C Notes means, with respect to any Tranche of Class A Notes for any Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class C Notes for such Tranche of Class A Notes, determined in accordance with Section 3.02.
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Class A Usage of Class C Notes. For each Tranche of Class A Notes, the Class A Usage of Class C Notes shall increase, and the Class A Available Subordinated Amount of Class C Notes shall decrease (each determined after giving effect to step (14) of this Subordination Waterfall (Adjustments for Reallocation of Unreimbursed Current Charge-offs from Class C to Class D)), by an amount equal to the portion of the Class C Principal Allocation applied to the Class A Tranche Interest Allocation Shortfall for such Tranche pursuant to step (36) of the Cash Flows.
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Class A Usage of Class C Notes. For each Tranche of Class A Notes, the Class A Usage of Class C Notes shall decrease, and the Class A Available Subordinated Amount of Class C Notes shall increase, by an amount equal to:
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Examples of Class A Usage of Class C Notes in a sentence

  • The Calculation Agent shall make the following adjustments after giving effect to step (42) of the Cash Flows (Series Servicing Fee Shortfall from Class C Principal): Class A Usage of Class C Notes.

  • For each Tranche of Class A Notes, the Class A Usage of Class C Notes shall increase, and the Class A Available Subordinated Amount of Class C Notes shall decrease (each determined after giving effect to step (8) of this Subordination Waterfall (Adjustments for Initial Allocation of Unreimbursed Current Charge-offs)), by an amount equal to the aggregate amount of Unreimbursed Series Charge-offs reallocated from such Tranche to each Tranche of Class C Notes pursuant to step (30) of the Cash Flows.

  • For each Tranche of Class A Notes, the Class A Usage of Class C Notes shall be zero and the Class A Available Subordinated Amount of Class C Notes shall be equal to the Required Subordinated Amount of Class C Notes for such Tranche.

  • The Calculation Agent shall make the following adjustments after giving effect to step (36) of the Cash Flows (Class A Interest Allocation Shortfall from Class C Principal): Class A Usage of Class C Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (30) of the Cash Flows (Unreimbursed Current Charge-offs; Reallocation from Class A to Class C): Class A Usage of Class C Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (34) of the Cash Flows (Unreimbursed Current Charge-offs; Reallocation from Class C to Class D): Class A Usage of Class C Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (39) of the Cash Flows (Class B Interest Allocation Shortfall from Class C Principal): Class A Usage of Class C Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (19) of the Cash Flows (Reimbursement of Class C Nominal Liquidation Amount Deficit from Series Finance Charge Amounts): Class A Usage of Class C Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (26) of the Cash Flows (Reimbursement of Class C Nominal Liquidation Amount Deficit from Reallocated Finance Charge Amounts): Class A Usage of Class C Notes.

  • Principal will not be paid on the Class C(2020-3) Notes prior to their Legal Maturity Date unless each of the Class A Usage of Class C Notes and the Class B Usage of Class C Notes is zero for each Tranche of Class A Notes and Class B Notes of the DiscoverSeries and the required level of subordination for the Class A Notes and Class B Notes of the DiscoverSeries is available after giving effect to such payment.


More Definitions of Class A Usage of Class C Notes

Class A Usage of Class C Notes. For each Tranche of Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero, the Class A Usage of Class C Notes shall increase, and the Class A Available Subordinated Amount of Class C Notes shall decrease, by an amount equal to:
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Related to Class A Usage of Class C Notes

  • Class C Notes has the meaning assigned to such term in the Indenture.

  • Initial Class C Note Balance means $152,941,000.

  • Initial Class A-3 Note Balance means $380,000,000.

  • Class C Note Balance means, at any time, the Initial Class C Note Balance reduced by all payments of principal made prior to such time on the Class C Notes.

  • Initial Class A-4 Note Balance means $115,000,000.

  • Class A-3 Note Balance means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes.

  • Class A-4 Note Balance means, as of any date, the Initial Class A-4 Note Balance reduced by all payments of principal made on or prior to such date on the Class A-4 Notes.

  • Class A-2a Notes means the Class A-2a 5.05% Asset-Backed Notes, substantially in the form of Exhibit A-2a to the Indenture.

  • Initial Class D Note Balance means $13,564,000.

  • Class C Note Rate means 3.48% per annum.

  • Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.

  • Class A-4 Notes means the Class A-4 1.04% Asset Backed Notes, substantially in the form of Exhibit A.

  • Class A-1 Note Balance means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes.

  • Initial Class A-1 Note Balance means $265,000,000.

  • Class D Notes has the meaning assigned to such term in the Indenture.

  • Class D Note Balance means, at any time, the Initial Class D Note Balance reduced by all payments of principal made prior to such time on the Class D Notes.

  • Class A-1 Note means any of 5.604% Asset Backed Notes, Class A‑1, issued under the Indenture substantially in the form attached thereto as Exhibit A-1.

  • Class A-3 Notes means the Class of Auto Loan Asset Backed Notes designated as Class A-3 Notes, issued in accordance with the Indenture.

  • Class A-2 Note Balance means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes.

  • Initial Class A-2 Note Balance means $235,000,000.

  • Accrued Class C Note Interest means, with respect to any Payment Date, the sum of the Class C Noteholders’ Monthly Accrued Interest for such Payment Date and the Class C Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A Notes means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes.

  • Class A-2b Notes means the Class A-2b Floating Rate Asset-Backed Notes, substantially in the form of Exhibit A-2b to the Indenture.

  • Class B Notes has the meaning assigned to such term in the Indenture.

  • Initial Class B Note Balance means $163,150,000.