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.

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 there are any Class B Interest Amount Arrears or Class C Interest Amount Arrears on any Interest Payment Date (other than the Final Maturity Date), such amounts shall not be regarded as payable on such date and shall accrue interest during the Interest Period in which such Interest Payment Date falls in accordance with Condition 7.12 (Default Interest).

• If, on any Calculation Date, the Issuer shall determine that any Deferred Interest Amount Arrears will arise on the immediately succeeding Interest Payment Date, notice to this effect shall be given by the Issuer in accordance with the Notices Condition, specifying the amount of the Class B Interest Amount Arrears and the amount of the Class C Interest Amount Arrears, as applicable, to be deferred on such following Interest Payment Date in respect of each Class B Note and each Class C Note.

• A pro rata share of such Class M1 Interest Amount Arrears, such Class M2 Interest Amount Arrears and such Class B Interest Amount Arrears (together with interest on such arrears calculated in accordance with this Condition) shall be aggregated with the amount of, and treated for the purposes of this Condition as if it were due, subject to this Condition, on each Class M1 Note, each Class M2 Note or as the case may be, each Class B Note on the next succeeding Payment Date.

• If there are any Class B Interest Amount Arrears, Class C Interest Amount Arrears or Class D Interest Amount Arrears on any Notes Payment Date (other than the Notes Final Maturity Date), such amounts shall not be regarded as payable on such date and shall accrue interest during the Notes Calculation Period in which such Notes Payment Date falls in accordance with Condition 8.12 (Default Interest).

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 each Interest Period, the sum of (A) the product of (i) the Class B Note Interest Rate for such Interest Period, (ii) the Outstanding Principal Balance of the Class B 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 and (B) all unpaid Class B Interest Amount from any prior Distribution Dates (and interest accrued thereon at the Class B Note Interest Rate).

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 has the meaning specified in Section 4.8(b) of this Supplement.

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. For any Distribution Date, the sum of the Class B Subclass Interest Amounts for such Distribution Date.