Class B Note Factor definition

Class B Note Factor means the seven digit decimal number that the Servicer will compute or cause to be computed for each Collection Period and will make available to the Indenture Trustee on the related Determination Date representing the ratio of (a) the Class B Note Principal Balance which will be outstanding on the next Payment Date (after taking into account all distributions to be made on such Payment Date) to (b) the Initial Class B Note Principal Balance.
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Class B Note Factor means, with respect to any Distribution Date, a seven-digit decimal figure equal to the Class B Note Balance as of the close of business on such Distribution Date (after giving effect to all changes in the Class B Note Balance made on that date) divided by the Initial Class B Note Balance.
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Class B Note Factor. With respect to any Payment Date, a seven digit decimal number representing the ratio of (i) the Class B Principal Balance which will be outstanding on the such
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More Definitions of Class B Note Factor

Class B Note Factor. As of any Payment Date, a seven-digit figure equal to the Class B Note Balance as of the close of business on such Payment Date divided by the initial Class B Note Balance. The Class B Note Factor will be 1.0000000 as of the Closing Date; thereafter, the Class B Note Factor will decline to reflect reductions in the Class B Note Balance.
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Class B Note Factor means 1.0000000 as of the Closing Date, and as of the close of business on the last day of a Collection Period thereafter means a seven-digit decimal figure equal to the outstanding principal amount of the Class B Notes as of such date (after giving effect to payments in reduction of the principal amount of the Class B Notes on the immediately following Payment Date) divided by the initial Class B Principal Balance of $28,215,000.
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Related to Class B Note Factor

  • Class B Note Rate means % per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class B Note Balance means, at any time, the Initial Class B Note Balance reduced by all payments of principal made prior to such time on the Class B Notes.

  • Class B Note means any of the 0.00% Asset Backed Notes, Class B, issued under the Indenture substantially in the form attached thereto as Exhibit A-3.

  • Class B Notes means the Class B 5.03% Asset-Backed Notes substantially in the form of Exhibit B to the Indenture.

  • Class B Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class B Note Initial Principal Balance means $30,822,000.

  • Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.

  • Initial Class B Note Balance means $129,750,000.

  • Accrued Class B Note Interest means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A Note Balance means, at any time, the sum of the Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time.

  • Class A Note Rate means, with respect to each Interest Period, a fixed rate equal to 4.10% per annum with respect to the Class A Notes.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.

  • Class A Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Class B Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class B Percentage for that distribution date, plus any Class B Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class B Noteholders’ Principal Distribution Amount will not exceed the principal balance of the class B notes.In addition, on the class B maturity date, the principal required to be distributed to the class B noteholders will include the amount required to reduce the outstanding principal balance of the class B notes to zero.

  • Class A Note Initial Principal Balance means $500,000,000.

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Class A-4 Note Interest Rate means a rate per annum equal to 2.11%.

  • Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class B Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed to the class B noteholders on that distribution date.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.

  • Class C Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Class B Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.

  • Class C Note Initial Principal Balance means $18,948,000.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.