Class B Term Notes definition

Class B Term Notes at a time when there exists only one "Class B Lender" and one "Class B Term Note", such references shall be deemed to refer to such single "Class B Lender" and "Class B Term Note". This Note is one of the Borrower's "Class B Term Notes" and is issued pursuant to and is entitled to the benefits of the Loan Agreement to which reference is hereby made for a more complete statement of the terms and conditions under which the Class B Term Loans evidenced hereby were or are made and are to be repaid. This Note amends, restates and replaces the Class B Term Note dated July 31, 2003 originally delivered to the Payee. All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the office of the Class B Loan Agent located in New York, New York or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Loan Agreement. Until notified in writing of the transfer of this Note, the Borrower, the Agent Bank and the Class B Loan Agent shall be entitled to deem the Payee or such person who has been so identified by the transferor in writing to the Borrower, the Agent Bank and the Class B Loan Agent as the holder of this Note, as the owner and holder of this Note. Each of the Payee and any subsequent holder of this Note agrees that before transferring or disposing of this Note or any part hereof it will make a notation hereon or in its records of all principal payments previously made hereunder and of the date to which interest herein has been paid; provided, however, that the failure to make a notation of any payment made on this Note shall not limit or otherwise affect the obligation of the Borrower hereunder with respect to payments of principal or interest on this Note. Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension or reduction of time shall be included in the computation of the payment of interest on this Note; provided, however, that if the day on which any payment relating to a LIBOR Loan is due is not a Business Day but is a day of the month after which no further Business Day occurs in such month, then the due date thereof shall be the Business Day immediately preceding such due date. This Note is subject to prepayment at the option of the Borrower as provided in, and subject to the limitations set fo...
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Class B Term Notes at a time when there exists only one "Bank", "Revolving Credit Note" or "Class B Term Note", such references shall be deemed to refer to such single "Bank," "Revolving Credit Note" or "Class B Term Note," as appropriate.
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Class B Term Notes. The Class B Floating Rate Asset Backed Term Notes, Series 2007-A.
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Examples of Class B Term Notes in a sentence

  • This Note is one of the Borrower's "Class B Term Notes" and is issued pursuant to and is entitled to the benefits of the Loan Agreement to which reference is hereby made for a more complete statement of the terms and conditions under which the Class B Term Loans evidenced hereby were or are made and are to be repaid.

  • To the extent this document contains references to multiple "Class B Lenders" or "Class B Term Notes" at a time when there exists only one "Class B Lender" and one "Class B Term Note", such references shall be deemed to refer to such single "Class B Lender" and "Class B Term Note".

  • The Servicer, for the benefit of the Holders of the Class B Term Notes, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “ Class B Term Note Cash Accumulation Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Class B Term Notes.

  • With respect to the Class B Term Notes, the Specified Support Arrangements consist of the Class B Term Note Cash Accumulation Reserve Fund.

  • The Seller, for the benefit of the Holders of the Class B Term Notes, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “ Class B Term Note Cash Accumulation Reserve Fund”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Holders of the Class B Term Notes.

  • Interest on the outstanding principal balance of the Class A Term Notes, Class B Term Notes, Class C Term Notes and Class D Term Notes will be payable in arrears by the Trust.

  • Interest on the Class B Term Notes will accrue at a rate equal to One-Month LIBOR plus 0.30% per annum and will be payable on each Monthly Distribution Date, and will be calculated on the basis of the Actual/360 Day Count.

  • The Series 2014 T3 Class B Term Notes may be exchanged for notes in three separate classes: BX, CX and DX.

  • All of the Class B Term Lenders agree that any reference in the Class B Term Notes dated July 31, 2003 to either the "Subordination Agreement dated as of July 31, 2003" or the "Subordination Agreement" shall be deemed to be a reference to this Agreement.

  • After the Fully Funded Date for the Class A Term Notes and fully funded date for each outstanding series of Revolving Notes, on each day the Servicer shall instruct the Indenture Trustee to withdraw from the Collection Account and deposit into the 2005-A Term Notes Distribution Account for the Class B Term Notes all Available Trust Principal allocated to the Class B Term Notes pursuant to the applicable clause of Section 4.5(d) of the Trust Sale and Servicing Agreement.


More Definitions of Class B Term Notes

Class B Term Notes means, the Series 2018-GT1 Term Notes, Class B, issued hereunder by the Issuer, or any Term Notes issued in replacement thereof pursuant to Section 5 of this Indenture Supplement.
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Class B Term Notes means, those certain Class B Term Notes payable to the Class B Lenders, the forms of which are annexed to the 2003B Amendment to Loan Documents as Exhibit A and Exhibits B-1, B-2, B-3 and B-4, each in the face amount set forth on Schedule 0X.1 to the 2003B Amendment to Loan Documents, as the same may hereafter be amended, modified, renewed, replaced and/or restated from time to time.
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Class B Term Notes means those certain Class B Term Notes payable to the Class B Lenders, a form of which is annexed to the 2003A Amendment to Loan Documents as Exhibit A, each in the face amount set forth on Schedule 3A.1 to the 2003A Amendment to Loan Documents, as the same may hereafter be amended, modified, renewed, replaced and/or restated from time to time.
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Related to Class B Term Notes

  • Medium Term Notes means Securities that are collateralized in an amount equal to their full Outstanding principal amount and have a Stated Maturity in excess of 270 days after the date of original issuance thereof.

  • Term Notes means the promissory notes of the Borrower in favor of each of the Lenders evidencing the portion of the Term Loan provided pursuant to Section 2.2(d), individually or collectively, as appropriate, as such promissory notes may be amended, modified, restated, supplemented, extended, renewed or replaced from time to time.

  • 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 A-1 Note Rate means, with respect to any Quarterly Interest Period, the interest rate per annum (computed on the basis of the actual number of days in such Quarterly Interest Period over a year of 360 days) equal to Three-Month LIBOR for the related LIBOR Reset Period plus 0.08%.

  • Class A-1 Notes means the Class A-1 1.28000% Asset-Backed Notes, substantially in the form of Exhibit A-1 to the Indenture.

  • 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.

  • 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.

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

  • Class C Note Rate means 3.48% per annum.

  • Class C Notes has the meaning assigned to such term in the Indenture.

  • Class B Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) the positive difference of (x) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto minus (y) the Class A Principal Distributable Amount and (ii) the Class B Note Balance; provided, however, on the Class B Stated Final Maturity Date, the Class B Principal Distributable Amount will equal the Class B Note Balance.

  • Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.

  • Initial Class C Note Balance means $178,840,000.

  • 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.

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

  • B Notes means each of Note B-1 and Note B-2.

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

  • Class A-2 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the excess of (x) the sum of the Certificate Principal Balances of the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 58.00% and (ii) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) minus the product of (i) 0.50% and (ii) the aggregate principal balance of the Group II Mortgage Loans as of the Cut-off Date.

  • Class A-2 Notes means the Class A-2a Notes and the Class A-2b Notes, collectively.

  • 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.

  • Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.

  • Class A Notes means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes.

  • 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.

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

  • 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 D Notes has the meaning assigned to such term in the Indenture.