Class B Note Interest Payment definition

Class B Note Interest Payment means, for the Class B Notes on each Payment Date, an amount equal to the product of (i) four and fifteen hundredths of one percent (4.15%) per annum and (ii) the Aggregate Class B Note Principal Balance on the immediately preceding Payment Date, calculated after giving effect to all principal payments on the Class B Notes actually paid on such date (or, in the case of the first Payment Date, the Aggregate Class B Note Principal Balance on the Series 2014-3 Closing Date). The Class B Note Interest Payment will be calculated on the basis of a 360 day year consisting of twelve thirty day months. For the initial Payment Date, interest will be calculated for calculated for twenty-five (25) representing the actual number of days elapsed from and including the Series 2014-3 Closing Date to (but excluding) the initial Payment Date for the Class B Notes.
Sample 1
Class B Note Interest Payment means, for the Class B Notes on each Payment Date, an amount equal to the product of (i) four and five-eighths of one percent (4.625%) per annum and (ii) the Aggregate Class B Note Principal Balance on the immediately preceding Payment Date, calculated after giving effect to all principal payments on the Class B Notes actually paid on such date (or, in the case of the first Payment Date, the Aggregate Class B Note Principal Balance on the Series 2013-2 Closing Date). The Class B Note Interest Payment will be calculated on the basis of a 360 day year consisting of twelve thirty day months. For the initial Payment Date, interest will be calculated for forty-three (43) days representing the actual number of days elapsed from and including the Series 2013-2 Closing Date to (but excluding) the initial Payment Date for the Class B Notes.
Sample 1
Class B Note Interest Payment means, for the Class B Notes on each Payment Date, an amount equal to the product of (i) three and ninety-six hundredths of one percent (3.96%), (ii) the Aggregate Class B Note Principal Balance on the immediately preceding Payment Date, calculated after giving effect to all principal payments on the Class B Notes actually paid on such date (or, in the case of the first Payment Date, the Aggregate Class B Note Principal Balance on the Series 2013-1 Closing Date) and (iii) a fraction, the numerator of which is 30 (or, the case of the first Payment Date, 23) and the denominator of which is 360. For the sake of clarity, (A) interest on the Class B Notes will accrue from the Series 2013-1 Closing Date to, but excluding, the initial Payment Date (for the initial Payment Date), and thereafter from and including each Payment Date, to, but excluding, the next Payment Date (for each subsequent Payment Date) and (B) interest on the Class B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day periods.
Sample 1

Examples of Class B Note Interest Payment in a sentence

  • For purposes of calculating the Class B Note Interest Payment, the Class B Note Principal Balance shall at all times be equal to the sum of all Class B Loans then outstanding.

  • To the extent that the amount of the Class A Note Interest Payment and/or the Class B Note Interest Payment that is due on any Payment Date is not paid when due, such shortfall, together with interest thereon at the applicable Default Rate, shall be due and payable on the next succeeding Payment Date.


More Definitions of Class B Note Interest Payment

Class B Note Interest Payment. For any Payment Date, an amount equal to the product of (i) the number of days in the applicable Interest Period divided by 360, (ii) the Interest Rate for the immediately preceding Interest Period and (iii) the outstanding Class B Note Principal Balance on the immediately preceding Payment Date (or, in the case of the first Payment Date, on the Closing Date), after giving effect to any payments of Class B Note Principal Payments and Class B Note Principal Arrearage on such preceding Payment Date.
Sample 1
Class B Note Interest Payment means, as of any Payment Date, the amount of Interest accrued and unpaid on the Class B Loans during the immediately preceding Interest Accrual Period.
Sample 1
Class B Note Interest Payment. For the Class B Notes on each Payment Date, an amount equal to the product of (i) three and five-tenths percent (3.50%) per annum, (ii) the Aggregate Class B Note Principal Balance on the immediately preceding Payment Date, calculated after giving effect to all principal payments on the Class B Notes actually paid on such date (or, in the case of the first Payment Date, the Aggregate Class B Note Principal Balance on the Closing Date) and (iii) one twelfth (or, in the case of the first Payment Date, the number of days in the first Interest Accrual Period divided by 360)..
Sample 1

Related to Class B Note Interest Payment

  • Fixed Rate Interest Payment Date has the meaning provided in Section 3.02(e)(i).

  • 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].

  • Floating Rate Interest Payment Date has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.

  • 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.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

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

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

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • 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].

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

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

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

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Interest Payment has the meaning set forth in Section 4.02.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

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

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

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

  • 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.

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • Interest Payment Dates shall have the meaning set forth in paragraph 1 of each Note.

  • Interest Payments With respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset.

  • 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.