Class C Deferred Interest definition

Class C Deferred Interest means, with respect to the Class C Notes, any interest due on such Notes which is not available to be paid as a result of the operation of the Priority of Payments on any Distribution Date and which is deferred and added to the Aggregate Outstanding Principal Amount of the Class C Notes until the Distribution Date on which such interest is available to be paid in accordance with the Priority of Payments pursuant to Section 2.6(a).

Class C Deferred Interest means, on any Interest Payment Date, the interest deferred on the Class C Notes as set out in Condition 6(c)(Deferral of Interest).

Class C Deferred Interest means an amount equal to the sum of (i) if such Payment Date occurs during a Sequential Interest Amortization Period, interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class C Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class C Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.

Examples of Class C Deferred Interest in a sentence

• Class C Deferred Interest on the Class C Notes accrued to any Distribution Date shall bear interest at the Note Interest Rate applicable to the Class C Notes and shall be payable on the first Distribution Date on which funds are permitted to be used for such purpose in accordance with the Priority of Payments.

• Upon the payment of Class C Deferred Interest previously capitalized as principal, the Aggregate Outstanding Principal Amount of the Class C Notes will be reduced by the amount of such payment.

• For the avoidance of doubt, any Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest or Class E Deferred Interest that is not paid in accordance with the preceding sentence shall remain part of the aggregate Principal Amount outstanding of such Class of Notes.

• Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest and Class E Deferred Interest shall only become payable by the Issuer to the extent that Interest Receipts and/or Principal Receipts are available to make such payment in accordance with the Pre-Enforcement Waterfall.

• The redemption price for the Class C Notes will be calculated on the related Determination Date and will equal the Aggregate Outstanding Amount of the Class C Notes (including any Class C Deferred Interest) to be redeemed, together with the Class C Interest Distribution Amount (plus any Class C Defaulted Interest Amount) due on the applicable Redemption Date; Class D Notes.

More Definitions of Class C Deferred Interest

Class C Deferred Interest means, with respect to the Class C Notes, any interest due on such Notes which is not available to be paid as a result of the operation of the Priority of Payments on any Distribution Date and which is deferred and added to the Aggregate Outstanding Amount of the Class C Notes until the Distribution Date on which such interest is available to be paid in accordance with the Priority of Payments pursuant to Section 2.6(a).

Class C Deferred Interest. The meaning specified in Section 2.6(a) of the Indenture.

Class C Deferred Interest means the amount of interest on the Class C Notes which is not paid when due and payable in accordance with the Priority of Payments.

Class C Deferred Interest means at any time the aggregate accrued interest in respect of the Class C Notes unpaid at that time (including interest on Class C Deferred Interest), payment of which is deferred to subsequent Mezzanine Payment Dates to and including the Class C Maturity Date pursuant to Condition 6.4(c) (Deferral of Class C Interest);

Class C Deferred Interest means, on any Payment Date, an amount equal to the amount of unpaid interest in respect of the Class C Notes on such Payment Date.

Class C Deferred Interest means with respect to any Distribution Date, as long as any Class A Notes or Class B Notes are outstanding, the shortfall (if any) in the payment of accrued and unpaid interest on the Class C Notes with respect to such Distribution Date or any previous Distribution Date, in each case to the extent not previously paid.

Class C Deferred Interest means, with respect to the Class C Notes and any Payment Date that occurs during a Sequential Interest Amortization Period when the Class A Notes or Class B Notes are Outstanding, the sum of (i) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class C Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class C Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.