Class B Required Subordinated Amount definition

Class B Required Subordinated Amount means, with respect to any Tranche of Class B Notes on any date, the aggregate Nominal Liquidation Amount of Class C Notes as specified in the applicable Terms Document for such Tranche of Class B Notes, that is required to be Outstanding and available on any date in each Monthly Period during which such Tranche of Class B Notes is Outstanding.

Class B Required Subordinated Amount means, with respect to any tranche of Class B Notes of a Multiple Issuance Series, a Dollar amount of Class C Notes as specified in Section 312(a) or in the applicable terms document for such tranche of Class B Notes, or as changed from time to time pursuant to Section 312(b).

Class B Required Subordinated Amount means the amount calculated on any date as the product of:

Examples of Class B Required Subordinated Amount in a sentence

• On the issuance date of a Tranche of Class B Notes, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes for such Tranche of Class B Notes must be at least equal to the Class B Required Subordinated Amount of Class C Notes for such Tranche of Class B Notes.

• On the issuance date of a tranche of Class A Notes, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes for all tranches of Class B Notes must be at least equal to the aggregate Class B Required Subordinated Amount of Class C Notes for all tranches of Class B Notes which are Outstanding on that date.

• On the issuance date of a tranche of Class B Notes, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes for such tranche of Class B Notes must be at least equal to the Class B Required Subordinated Amount of Class C Notes for such tranche of Class B Notes.

• On the issuance date of Class B Notes of a tranche of a Multiple Issuance Series, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes of that series must be at least equal to the Class B Required Subordinated Amount of Class C Notes for that series.

• On the issuance date of a Tranche of Class B Notes, immediately after giving effect to such issuance, the available subordinated amount of Class D Notes for such Tranche of Class B Notes must be at least equal to the Class B Required Subordinated Amount of Class D Notes for such Tranche of Class B Notes.

More Definitions of Class B Required Subordinated Amount

Class B Required Subordinated Amount means an amount equal to (a) the result of (i) the aggregate of the Adjusted Outstanding Dollar Principal Amounts of all Tranches of Class A Notes and Class B Notes; provided that if an Early Amortization Event has occurred with respect to any Tranche of Class A Notes or Class B Notes, the Adjusted Outstanding Dollar Principal Amount of such Tranche of Notes used for such calculation shall be determined as of the close of business on the day preceding the occurrence of the Early Amortization Event, divided by (ii) 80.00%, minus (b) the aggregate Adjusted Outstanding Dollar Principal Amounts of all Tranches of Class A Notes and Class B Notes.

Class B Required Subordinated Amount means, with respect to any Tranche of Class B Notes, the aggregate Nominal Liquidation Amount of Class C Notes or Class D Notes, as the case may be, as specified in the applicable Terms Document for such Tranche of Class B Notes, that is required to be outstanding and available on any date such Tranche of Class B Notes is Outstanding.

Class B Required Subordinated Amount means, subject to modification in accordance with Section 4.21, as of any date of determination, an amount equal to the product of (i) 7.5269% (or 7.00 divided by 93.00) times (ii) the aggregate Adjusted Outstanding Principal Balance of the Class A Notes and the Class B Notes as of such date of determination; provided, however, that if a Pay Out Event has occurred with respect to the Class B Notes, then for so long as such Pay Out Event is continuing, the Class B Required Subordinated Amount will be the greater of (x) the Class B Required Subordinated Amount on the date of determination and (y) the Class B Required Subordinated Amount on the date immediately prior to the occurrence of such Pay Out Event.

Class B Required Subordinated Amount means, subject to modification in accordance with Section 4.21, as of any date of determination, an amount equal to the product of

Class B Required Subordinated Amount means, with respect to any ------------------------------------ tranche of Class B Notes, a Dollar amount of Class C Notes as specified in the applicable terms document for such tranche of Class B Notes.

Class B Required Subordinated Amount means, with respect to any Tranche of Class B Notes on any date, the aggregate Nominal Liquidation Amount of Class C Notes as specified in the applicable Terms Document for such Tranche of Class B Notes, that is required to be Outstanding and available on any date in each Monthly Period during which such Tranche of Class B Notes is Outstanding. "CLASS B UNUSED SUBORDINATED AMOUNT OF CLASS C NOTES" means for any Tranche of Outstanding Class B Notes on any date, an amount equal to the Class B Required Subordinated Amount of Class C Notes MINUS the Class B Usage of the Class C Required Subordinated Amount as of such date. "CLASS B USAGE OF CLASS C REQUIRED SUBORDINATED AMOUNT" means, with respect to any Tranche of Outstanding Class B Notes, (x) on the date of issuance of such Tranche and on each date to but not including the initial First Note Transfer Date for such Tranche, zero and (y) on each date in the period from and including the initial First Note Transfer Date for such Tranche to but not including the second First Note Transfer Date for such Tranche, the sum of the amounts set forth below and (z) on each date in the period from and including the second or any subsequent First Note Transfer Date for such Tranche to but not including the next succeeding First Note Transfer Date, the Class B Usage of Class C Required Subordinated Amount as of the close of business on the prior First Note Transfer Date PLUS the sum of the amounts set forth below (in each case, such amount shall not exceed the Class B Unused Subordinated Amount of Class C Notes for such Tranche of Class B Notes after giving effect to the previous clauses, if any):

Class B Required Subordinated Amount means, with respect to any tranche of Class B Notes, the Required Subordinated Amount of Class C Notes.