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 July 5, 2035, issued by the Co-Issuers on the Closing Date, that bear interest at a floating rate per annum equal to three-months LIBOR plus 1.80%.

Examples of Class C-1 Notes in a sentence

• Collectively, the Class C-1 Notes, the Class C-2 Notes, the Class D Notes, the Class E Notes and the Class EF Notes.

• In the case of (a) the Secured Notes, all of the Secured Notes having the same Stated Maturity and designation, and (b) the Subordinated Notes, all of the Subordinated Notes; provided that, except as expressly stated otherwise in this Indenture, (i) the Class A-1 Notes and the Class A-F Notes and (ii) the Class C-1 Notes and Class C-F Notes, in each case, shall constitute a single Class.

• 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.

• The Class A-1X Notes, the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C-1 Notes and the Class C-2 Notes.

• The Class B-1 Notes are senior to the Class C-1 Notes as and to the extent provided in the Indenture.

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 has the meaning set forth in the preamble.

Class C-1 Notes means ACAS Business Loan Trust 2003-1, Class C-1 Floating Rate Asset Backed Notes, Series 2003-1, issued pursuant to the Indenture.

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

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 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.