Class B Deferred Interest definition

Class B Deferred Interest means an amount equal to the sum of (i) if such Payment Date occurs during a Sequential Interest Amortization Period, interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class B Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class B Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.

Class B Deferred Interest means with respect to any Distribution Date, as long as any Class A Notes are outstanding, the shortfall (if any) in the payment of the accrued and unpaid interest on the Class B Notes on such Distribution Date or any previous Distribution Date, in each case to the extent not previously paid.

Class B Deferred Interest means, for any Payment Date, an amount equal to the sum of (i) if such Payment Date occurs during a Class B Interest Deferral Period, interest accrued during the related Interest Accrual Period at the related Bond Rate on the Outstanding Bond Balance of the Class B Bonds immediately prior to such Payment Date and (ii) the amount of unpaid Class B Deferred Interest from prior Payment Dates. For the avoidance of doubt, Class B Deferred Interest will not bear interest.

Examples of Class B Deferred Interest in a sentence

• Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest and Class E Deferred Interest shall only become payable by the Issuer to the extent that Interest Receipts and/or Principal Receipts are available to make such payment in accordance with the Pre-Enforcement Waterfall.

• For the avoidance of doubt, any Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest or Class E Deferred Interest that is not paid in accordance with the preceding sentence shall remain part of the aggregate Principal Amount outstanding of such Class of Notes.

• The Aggregate Outstanding Amount of the Class B Notes will include the Class B Deferred Interest.

• Class B Deferred Interest added to the principal amount of any Note pursuant to this Condition shall not be included in the aggregate Principal Amount outstanding of such Notes for the purposes of determining voting rights in respect thereof or the applicable quorum at any meetings of Noteholders or for the purposes of calculating the Voting Proportion.

• So long as the Class A Notes are outstanding, to the extent interest is not paid on the Class B Notes on any Payment Date, such amount (the “Class B Deferred Interest”) will be added to the principal amount thereof and bear interest at the applicable Class B Rate, and the failure to pay the Class B Deferred Interest will not constitute an Event of Default under the Indenture.

More Definitions of Class B Deferred Interest

Class B Deferred Interest means, on any Interest Payment Date, the interest deferred on the Class B Notes as set out in Condition 6(c)(Deferral of Interest).

Class B Deferred Interest means, on any Payment Date, an amount equal to the amount of unpaid interest in respect of the Class B Notes on such Payment Date.

Class B Deferred Interest. If applicable to the Class B Notes of a Series, as defined in the applicable Series Supplement.

Class B Deferred Interest. If applicable to the Class B Notes of a Series, as defined in the applicable Series Supplement. “Class B Notes”: With respect to any Series, any Class of Notes that is designated as a Class of “Class B Notes” in the applicable Series Supplement (regardless of any numerical designation). “Closing Date Period”: Any period commencing on the most recent Series Closing Date until (and excluding) the next occurring Series Closing Date. “Collateral Agency Agreement”: The Second Amended, Restated and Consolidated Collateral Agency Agreement, dated as of May 20, 2014, among the Collateral Agent, the Issuers, each Joining Party Issuer (as defined in the Collateral Agency Agreement), each Joining Party Lender (as defined in the Collateral Agency Agreement), Spirit Realty and Spirit SPE Warehouse Funding, LLC, as amended, supplemented or modified from time to time and any other collateral agency agreement as set forth in a Series Supplement. “Custody Agreement”: The Second Amended and Restated Custody Agreement, dated as of May 20, 2014, among the Issuers, the Trustee, the Custodian and any joining party issuers, each as a co-issuer, as the same may be amended, supplemented or modified from time to time. “Distribution”: The Business Sector comprised of Process, Physical Distribution, and Logistics Consulting Services (NAICS 541614). “Early Amortization Event”: An Early Amortization Event will occur (A) as of any Determination Date, if the Average Cashflow Coverage Ratio for such Determination Date is less than the Early Amortization Threshold; provided that, following the occurrence of any such Early Amortization Event, if, as of any date of determination, the Cashflow Coverage Ratio as of the three most recent Determination Dates (including any Determination Date occurring on such date of determination) exceeded the Early Amortization Threshold as of such date of determination, then such Early Amortization Event will be deemed to be cured for all purposes and no longer continuing as of such date of determination; (B) if an Event of Default shall have occurred and shall not have been cured or waived in accordance with this Indenture; (C) if the Issuers do not repay the Class Principal Balance of any Class of Notes in full on or prior to the Anticipated Repayment Date for such Class of Notes, provided, that if the Class Principal

Class B Deferred Interest. The meaning specified in Section 2.6(a) of the Indenture.

Class B Deferred Interest. With respect to any Payment Date during the continuance of a Special Amortization Event and the Series 2017-1 Class B Notes, the interest accrued during the related Accrual Period at the applicable Note Rate for such Class, applied to the Class Principal Balance of such Class on such Payment Date before giving effect to any payments of principal on such Payment Date.

Class B Deferred Interest has the meaning assigned to such term in Section 2.5(b).