Class B Note Principal Shortfall definition

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.
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Class B Note Principal Shortfall means, as of the close of any Distribution Date, the excess of (i) the Class B Noteholders’ Principal Distribution Amount on such Distribution Date over (ii) the amount of principal actually distributed to the Class B Noteholders on such Distribution Date.
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Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of:
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Examples of Class B Note Principal Shortfall in a sentence

  • Principal Distribution Amount" means, for any Distribution Date, the Principal Distribution Amount multiplied by 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 Outstanding Amount of the Class B Notes.


More Definitions of Class B Note Principal Shortfall

Class B Note Principal Shortfall means, as of the close of any Distribution Date, the excess of:
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Class B Note Principal Shortfall means, as of the close of any Quarterly Distribution Date, the excess of (i) the Class B Noteholders' Principal Distribution Amount on such Quarterly Distribution Date over (ii) the amount of principal actually distributed or allocated to the Class B Noteholders on such Quarterly Distribution Date.
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Related to Class B Note Principal Shortfall

  • Class A Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class A Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed or allocated to the class A noteholders or deposited into the accumulation account on that distribution date.

  • 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 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 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.