Class C-1 Notes definition

Class C-1 Notes. The Class C-1 Secured Deferrable Floating Rate Notes issued pursuant to this Indenture and having the characteristics specified in Section 2.3.

Class C-1 Notes has the meaning set forth in the first recital.

Class C-1 Notes means the Class C-1 Deferrable Fourth Priority Secured Floating Rate Notes due November 5, 2035, issued by the Co-Issuers on the Closing Date, that bear interest at a floating rate per annum equal to LIBOR plus 1.70%.

Examples of Class C-1 Notes in a sentence

• These Written Resolutions relate to the Outstanding Class C-1 Notes, Class C-2 Notes and Class D Notes (in each case, including the Class C-1 Component and the Class D Component of the Class T Combination Notes) of Avoca CLO II B.V. (the “Issuer”) constituted by a trust deed (as amended from time to time, the “Trust Deed”) dated 30 November 2004 between, inter alios, the Issuer and Deutsche Trustee Company Limited (the “Trustee”), including the conditions of the Notes set out therein (the “Conditions”).

• Applicable only to the Class X Notes, the Class A Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C-1 Notes, the Class C-2 Notes and the Class D Notes.

• Deferred Interest on the Class C-1 Notes and the Class D-1 Notes shall be added to the principal balance of the Class C-1 Notes and the Class D-1 Notes, respectively, and shall be payable on the first Payment Date on which funds are available to be used for such purpose in accordance with the Priority of Payments.

• During each Interest Accrual Period, the Class A-1 Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 1.75% per annum, the Class B-1 Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 3.50% per annum, the Class C-1 Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 4.75% per annum, and the Class D-1 Notes shall bear interest at a per annum rate equal to the then applicable LIBOR plus 5.75% per annum.

• Exhibit B2 to the Indenture is hereby amended by: (i) replacing the words “(in the case of the Class A-1 Notes, Class A-X Notes, Class B-1 Notes, Class B-2 Notes, Class C-1 Notes, Class C-2 Notes and Class D Notes)” in Section 1 thereof with the words “(in the case of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes)”; and (ii) replacing each reference to the words “Class A-1 Notes and Class A-X Notes” in footnotes 150 and 151 thereof with the words “Class A Notes”.

More Definitions of Class C-1 Notes

Class C-1 Notes means any one of the Class C-1 Notes executed by the Issuer and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-3.

Class C-1 Notes means the $35,273,000 Floating Rate Class C-1 Student Loan-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A-6 thereto.

Class C-1 Notes has the meaning set forth in the preamble.

Class C-1 Notes means any Class C-1 Notes described in Article II of, and authorized by, and authenticated and delivered under, the Indenture.

Class C-1 Notes means, collectively, the Class C-1A Notes and the C-1B Notes.

Class C-1 Notes. The Class C-1 Mezzanine Secured Deferrable Floating Rate Notes issued on the First Refinancing Date pursuant to this Indenture and having the characteristics specified in Section 2.3.

Class C-1 Notes means the $35,000,000 Student Loan Asset-Backed Notes, Junior Subordinate Class C-1, issued by the Issuer pursuant to this Indenture, substantially in the form of Exhibit B-1 hereto.