Class B Targeted Note Balance definition

Class B Targeted Note Balance means for each Series of Class B Notes,
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Class B Targeted Note Balance means for each Series of Class B Notes (a) except in the case of (b); the excess of the Aggregate Discounted Receivables Balance less the Class A Targeted Note Balance, each as of the end of the Monthly Period over the Class B Targeted Overcollateralisation Amount and(b) zero, if the Aggregate Discounted Receivables Balance as of the end of the Monthly Period is less than 10 per cent. of the Maximum Discounted Receivables Balance.
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Examples of Class B Targeted Note Balance in a sentence

  • The respective Amortisation Amount is the amount necessary to reduce the outstanding principal amount of the respective Series of Notes to the Class A Targeted Note Balance and the Class B Targeted Note Balance.

  • The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the outstanding principal amount of the Class B Notes to the Class B Targeted Note Balance respectively.

  • Therefore, the Class B Notes may be repaid together with the Class A Notes depending on the Class B Targeted Note Balance which may be applicable on each Payment Date.

  • Thereafter, payments on each Series of Class B Notes will be made from any amounts remaining from the Available Distribution Amount after the payment of principal on each Series of Class A Notes until the Note Principal Amount Outstanding of each Series of Class B Notes equals the Class B Targeted Note Balance.

  • The Class B Principal Payment Amount for any Payment Date is equal to the amount necessary to reduce the aggregate Principal Outstanding of the Class B Notes to the Class B Targeted Note Balance.

  • Rules of repayment of the Class B NotesThe repayment of the Class B Notes will be carried out on a pro rata basis among the Notes of such Class, by means of the reduction of their nominal value until redeemed in full, and will take place on each Payment Date, in the amount necessary to reduce on such Payment Date the Outstanding Nominal Balance of the Class B Notes to an amount equal to the Class B Targeted Note Balance (the "Class B Principal Payment Amount").

  • However, even if the Class A Notes have not been fully repaid, the Class B Notes will be repaid together with the Class A Notes depending on the Class A Targeted Note Balance and the Class B Targeted Note Balance which may be applicable on each Payment Date.

  • The Seller acknowledges that in exercising the Discount Rate Variation Option, the Aggregate Discounted Receivables Balance of the Portfolio will change following the application of the New Discount Rate and (if not remedied in accordance with this clause) this will impact the Class A Targeted Note Balance and the Class B Targeted Note Balance and could give rise to an Early Amortisation Event pursuant to limb (c) of the definition of Early Amortisation Event.

Related to Class B Targeted Note Balance

  • Initial Class C Note Balance means $152,941,000.

  • Initial Class D Note Balance means $13,564,000.

  • Initial Class B Note Balance means $163,150,000.

  • Initial Class A-1 Note Balance means $265,000,000.

  • Initial Note Balance means, for any Class, the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial Class A-3 Note Balance, the Initial Class B Note Balance, the Initial Class C Note Balance, the Initial Class D Note Balance or the Initial Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of the foregoing.

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

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

  • Class A-1 Note Balance means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes.

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

  • 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 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.

  • Initial Class A-2 Note Balance means $235,000,000.

  • Initial Class A-4 Note Balance means $115,000,000.

  • Class A-2 Note Balance means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes.

  • Aggregate Note Balance NOTE RATE: [____]% (Subject to $_____________________ Available Funds Rate) INITIAL NOTE BALANCE OF THIS BOND: BOND NO. 1 $____________________ PERCENTAGE INTEREST: 100% CUSIP NO. [ ] Origen Manufactured Housing Contract Trust 2004-A (the "Issuer"), a Delaware statutory trust, for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of ($_________________) in monthly installments on the fifteenth day of each month or, if such day is not a Business Day, the next succeeding Business Day (each a "Payment Date"), commencing in March 2004 and ending on or before the Payment Date occurring on the Final Stated Maturity Date and to pay interest on the Note Balance of this Note (this "Note") outstanding from time to time as provided below. This Note is one of a duly authorized issue of the Origen Manufactured Housing Contract Trust Notes, Series 2004-A (the "Notes"), issued under an Indenture dated as of February 1, 2004 (the "Indenture"), between the Issuer and JPMorgan Chase Bank, as indenture trustee (the "Indenture Trustee", which term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Indenture Trustee, the Owner Trustee and the Holders of the Notes and the terms upon which the Notes are to be authenticated and delivered. All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. Payments of principal and interest on this Note will be made on each Payment Date to the Noteholder of record as of the related Record Date. The "Note Balance" of a Note as of any date of determination is equal to the initial Note Balance thereof, reduced by the aggregate of all amounts previously paid with respect to such Note on account of principal on all prior Payment Dates. All principal and interest accrued on the Notes, if not previously paid, will become finally due and payable at the Final Stated Maturity Date. The Notes are subject to redemption in whole, but not in part, by the Servicer on any Payment Date on or after the Payment Date on which the Pool Principal Balance of the Contracts as of the end of the prior Due Period is less than or equal to 20% of the aggregate Principal Balance of the Contracts as of Cut-off Date. The Issuer shall not be liable upon the indebtedness evidenced by the Notes except to the extent of amounts available from the Trust Estate which constitute security for the payment of the Notes. The assets included in the Trust Estate will be the sole source of payments on the Notes, and each Holder hereof, by its acceptance of this Note, agrees that (i) such Note will be limited in right of payment to amounts available from the Trust Estate as provided in the Indenture and (ii) such Holder shall have no recourse to the Issuer, the Owner Trustee, the Indenture Trustee, the Seller, the Originator, the Servicer or any of their respective affiliates, or to the assets of any of the foregoing entities, except the assets of the Issuer pledged to secure the Notes pursuant to the Indenture and the rights conveyed to the Issuer under the Indenture.

  • Initial Class A-3 Note Balance means $380,000,000.

  • Class A-4 Note Balance means, as of any date, the Initial Class A-4 Note Balance reduced by all payments of principal made on or prior to such date on the Class A-4 Notes.

  • Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing.

  • Class A-3 Note Balance means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes.

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

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

  • Initial Note Principal Balance means, with respect to each Note as of any date of determination, the “Initial Note Principal Balance” for such Note set forth in Part B of the Mortgage Loan Schedule.