Class B Ownership Interest definition

Class B Ownership Interest means, on any date of determination, an amount equal to (a) the Class B Initial Ownership Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of Reallocated Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Class C Ownership Interest has not been reduced, minus (e) an amount equal to the amount by which the Class B Ownership Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a), and plus (f) the aggregate of the amounts deducted pursuant to the foregoing clauses (c), (d) and (e) deemed to have been reimbursed on all prior Transfer Dates pursuant to subsection 4.11(d); provided, however, that the Class B Ownership Interest may not be reduced below zero.
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Class B Ownership Interest. A Class B Member's Economic Interest and Management Right.
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Class B Ownership Interest. The ownership interest in the 199_-_ ---------------------------- Trust LLC designated as the Class B Ownership Interest.
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Examples of Class B Ownership Interest in a sentence

  • In the event of any request made to the Issuer, as the Class A Ownership Interest Holder, for consent to any transfer of any interest in any portion of the Class B Ownership Interest, the Owner Trustee shall respond to such request in its discretion on behalf of the Issuer and shall not be required to consult with the Certificateholders or the Indenture Trustee.

  • The Class B Ownership Interest shall then be reduced (but not below zero) by the amount of Reallocated Principal Collections in excess of the Class C Ownership Interest allocated thereto pursuant to Section 4.12 and then by the amount of any portion of the Class B Ownership Interest allocated to the Class A Certificates to avoid a reduction in the Class A Ownership Interest pursuant to subsection 4.10(a) above.

  • In the event that such reduction would cause the Class C Ownership Interest to be a negative number, the Class C Ownership Interest shall be reduced to zero and the Class B Ownership Interest shall be reduced (but not below zero) by the amount by which the Class C Ownership Interest would have been reduced below zero (a "Class B Charge-Off").

  • In the event that such reduction would cause the Class C Ownership Interest (after giving effect to any Class C Charge-Offs for such Transfer Date) to be a negative number, the Class C Ownership Interest (after giving effect to any Class C Charge-Offs for such Transfer Date) shall be reduced to zero and the Class B Ownership Interest shall be reduced by the amount by which the Class C Ownership Interest would have been reduced below zero.

  • Notwithstanding anything to the contrary herein, payment of any Class B Additional Interest shall be suspended during any period when the Class B Ownership Interest is zero and payment thereof shall be cancelled on the first date during the Class B Controlled Amortization Period or, if applicable, the Rapid Amortization Period when the Class B Ownership Interest is or becomes zero.

  • On each Distribution Date during the Rapid Amortization Period, if any, after the Class A Ownership Interest has been paid in full, in addition to Class B Monthly Interest, Available Investor Principal Collections with respect to such Distribution Date will be distributed to such Class B Certificateholders until the Class B Ownership Interest has been paid in full.

  • In the event that such reduction would cause the Class B Ownership Interest to be a negative number, the Class B Ownership Interest shall be reduced to zero and the Class A Ownership Interest shall be reduced (but not below zero) by the amount by which the Class B Ownership Interest would have been reduced below zero (a "Class A Charge-Off").

  • The share of the Servicing Fee allocable to the Class B Ownership Interest with respect to any Transfer Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (i) the Class B Floating Allocation, (ii) the Net Servicing Fee Rate and (iii) the Certificateholders Ownership Interests as of the last day of the Monthly Period preceding such Transfer Date.

  • In the event that such reduction would cause the Class C Ownership Interest to be a negative number, the Class C Ownership Interest will be reduced to zero and the Class B Ownership Interest (after giving effect to reductions therein for any Class B Charge-Offs and any Reallocated Principal Collections on such Transfer Date) shall be reduced by the amount by which the Class C Ownership Interest would have been reduced below zero.

  • The Class B Ownership Interest will thereafter be deemed to be reimbursed (but not in excess of reductions in the Class B Ownership Interest that have not been previously reimbursed) on any subsequent Transfer Date by the amount of funds on deposit in the Series 1998-1 Yield Enhancement Account pursuant to subsection 4.11(d).

Related to Class B Ownership Interest

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Ownership Interests means, with respect to any entity, any ownership interests in the entity and any economic rights (such as a right to distributions, net cash flow or net income) to which the owner of such ownership interests is entitled.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class B Interests As set forth in the Trust Agreement.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

  • Class R-III Certificate Any one of the Class R-III Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC III for purposes of the REMIC Provisions.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.