Class B Interest Amount definition

Class B Interest Amount means, with respect to each Interest Accrual Period, an amount equal to the product of (i) the applicable Class B Note Interest Rate for such Interest Accrual Period and (ii) the lesser of (a) the Outstanding Principal Balance of the Class B Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions on such day) and (b) the excess, if any, of (x) the Aggregate Outstanding Loan Balance as of the last day of the related Collection Period over (y) the Outstanding Principal Balance of the Class A Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions on such day); provided, however, that for purposes of this definition, in no event will the amount determined pursuant to clause (b) hereof be less than zero.

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Class B Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class B Note Interest Rate as of the first day of such Interest Accrual Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class B Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (b) the excess, if any, of (1) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Accrual Period over (2) the Outstanding Principal Balance of the Class A Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (iii) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.

Class B Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class B Note Interest Rate as of the first (1st) day of such Interest Accrual Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class B Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (b) the greater of (1) the excess, if any, of (x) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Accrual Period over the (y) Outstanding Principal Balance of the Class A Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) or (2) zero, and (iii) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.

Examples of Class B Interest Amount in a sentence

The Class A Lenders are not entitled to interest on any Class A Loans in an amount in excess of the Class A Interest Amount and the Class B Lenders are not entitled to interest on any Class B Loans in an amount in excess of the Class B Interest Amount.
If the amounts described in this Section 4.8(b) are insufficient, after taking into account any funds available in the Series 1997 1/N1 Excess Funding Account and any portion of the Series 1997 1/N1 Letter of Credit Amount applied as described in Section 4.9(b) of this Supplement subject to the provisions of Section 4.14 of this Supplement, to pay the Class B Interest Amount on any Payment Date, payments of interest to the Class B Noteholders will be reduced by the amount of such shortfall.
If the sum of the funds in excess of the Liquidity Amount available in the Series 1995-1 Accrued Interest Account and any funds in excess of the Liquidity Amount available in the Series 1995-1 Excess Funding Account (subject to the provisions of Section 4.14) are insufficient to pay the Class B Interest Amount on any Payment Date, payments of interest to the Class B Noteholders will be reduced by the amount of such shortfall.
On each Payment Date the Paying Agent shall, in accordance with Section 5.1 of the Base Indenture and the Master Servicer's most recent Monthly Certificate, but subject to Section 4.14 of this Supplement, pay to the Class B Noteholders from the Class B Distribution Account the amount deposited in the Class B Distribution Account for the payment of the Class B Interest Amount pursuant to Section 4.8(b) of this Supplement and clauses (i) and (ii) of this Section 4.9(b).
On each Payment Date the Paying Agent shall, in accordance with Section 5.1 and the Servicer's most recent Monthly Certificate, but subject to Section 4.14, pay to the Class B Noteholders from the Class B Distribution Account the amount deposited in the Class B Distribution Account for the payment of the Class B Interest Amount.

More Definitions of Class B Interest Amount

Class B Interest Amount means, as to any Distribution Date, an amount equal to the sum of (i) the amount of interest accrued at the [Class [B]] Certificate Rate for the related Collection Period on the [Class [B]] Certificate Principal Balance on the immediately preceding Distribution Date, (or, in the case of the first Distribution Date, on the Closing Date), after giving effect to all distributions on such prior Distribution Date, and (ii) any unpaid [Class [B]] Interest Amounts from prior Distribution Dates, together with interest thereon, to the extent permitted by law, at the [Class [B]] Certificate Rate.

Class B Interest Amount means, for each Interest Period, an amount equal to the product of (i) the Class B Note Interest Rate for such Interest Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class B Notes for such Interest Period (after giving effect to all distributions made on such day) and (b) the excess, if any, of (1) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Period over (2) the Outstanding Principal Balance of the Class A Notes as of the first day of such Interest Period (after giving effect to all distributions made on such day) and (iii) a fraction, the numerator of which is the number of days in such Interest Period and the denominator of which is 360.

Class B Interest Amount means, for any period of time, the difference between (i) the Total Interest Amount for such period of time (including the portion of interest accrued on the Class A Loans in excess of the Class A Interest Amount), and (ii) the Class A Interest Amount for such period of time.

Class B Interest Amount has the meaning specified in Section 4.8(b) of this Supplement.

Class B Interest Amount means the Interest Amount payable in respect of each Class B Note for any Interest Period calculated in accordance with Condition 4(d) (Calculations).

Class B Interest Amount. As to any Distribution Date, the sum of the Class B Subclass Interest Amounts with respect to such Distribution Date.

Class B Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class B Note Interest Rate as of the first day of such Interest Accrual Period,