Class AF Notes definition
Examples of Class AF Notes in a sentence
Payment of interest and distributions on each Class of Secured Debt and on the Subordinated Securities will be subordinated to the payment of interest on each related Priority Class as provided in Section 11.1. To the extent lawful and enforceable, interest on any interest that is not paid when due on any Class A Notes, Class A-F Notes, Class A Loans or Class B Notes shall accrue at the Interest Rate for such Class until paid as provided herein.
To the extent lawful and enforceable, interest on any interest that is not paid when due on any Class A Notes, Class A-F Notes, Class A Loans or Class B NotesSecured Debt shall accrue at the Interest Rate for such Class until paid as provided herein.
The Class AF Notes and Class AV Notes are and will be secured by the collateral pledged as security therefor as provided in the Indenture.
Without limiting the foregoing, subject to Section 8.2(c), the Issuer will cause to be distributed on a Remittance Date pursuant to the Sale and Servicing Agreement (i) all amounts on deposit in the Pool I Note Distribution Account for the benefit of the Class AF Notes to the Class AF Noteholders and (ii) all amounts on deposit in the Pool II Note Distribution Account for the benefit of the Class AV Notes to the Class AV Noteholders.
On or before each Remittance Date and Redemption Date, the Issuer shall deposit or cause to be deposited in the Pool I Note Distribution Account and Pool II Note Distribution Account an aggregate sum sufficient to pay the amounts then becoming due under the Class AF Notes and Class AV Notes, respectively, such sum to be held in trust for the benefit of the Persons entitled thereto and (unless the Paying Agent is the Trustee) shall promptly notify the Trustee of its action or failure so to act.