Examples of Class B Loan in a sentence
As at the Closing Date, such interest will be P D W H U L D O L V H G E \ W K H available on this date and representing more than 5% of aggregate of the Class A Notes and the Class B Loan.
For that purpose, the Seller has undertaken (i) to make available to the FCT any Class B Loan which will be requested by the FCT on any Utilisation Date; (ii) to retain (and, inter alia , not to sell or transfer) on an on-going basis its participation in the outstanding Class B Loans until the full amortisation of all the Class A Notes; and (iii) not to benefit from a guarantee or otherwise hedge the outstanding Class B Loan until the full amortisation of all the Class A Notes.
Completion of a Utilisation Request A Utilisation Request for a Class B Loan is irrevocable and will not be regarded as having been duly completed unless: (a) the proposed Utilisation Date is a Payment Date within the Revolving Period; and (b) the amount of the Class B Loan is equal to the Class B Loan Utilisation Amount as of such Utilisation Date (after giving effect to any redemptions of the existing Class B Loan on such date).
The FCT has no capitalisation, no internal management body and no business operations other than the purchase of the Eligible Receivables, the issue of the Class A Notes and the Residual Units and the borrowing of the Class B Loan.
On each Calculation Date, the Management Company (or any of its lawful agent on its behalf) calculates, in respect of the outstanding Class B Loan, the applicable Class B Loan Interest Amount payable to the Class B Lender on the immediately following Payment Date as determined below.