Class C Interest Distributable Amount means, with respect to any Distribution Date, interest accrued from and including the 15th day of the prior month (or, in the case of the first Distribution Date, the Closing Date) to, but excluding the 15th day of the month in which such Distribution Date occurs, at the Class C Note Rate on the Class C Note Balance immediately prior to such Distribution Date. Interest on the Class C Notes shall be due and payable on each Distribution Date and shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

Class C Interest Distributable Amount means, for any Distribution Date, 30 days of interest at the Class C Rate on the Class C Certificate Balance as of the close of business on the last day of the related Collection Period (calculated on the basis of a 360-day year consisting of twelve 30-day months).

Examples of Class C Interest Distributable Amount in a sentence

Payment of Class C Interest Distributable Amount from Reserve Account $0.00 8.
Payment of Class C Interest Distributable Amount from Reserve Account $ 0.00 8.
Payment of Class C Interest Distributable Amount from Interest Collections $26,875.06 7.
Payment of Class C Interest Distributable Amount from Interest Collections $62,749.28 7.
Payment of Class C Interest Distributable Amount from Interest Collections $ 26,875.06 7.

More Definitions of Class C Interest Distributable Amount

Class C Interest Distributable Amount means, with respect to any Distribution Date an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class C Notes at the related Class C Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the Class C Interest Carryover Shortfall for the current Distribution Date.

Class C Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of such Interest Period being assumed to consist of 30 days and a year assumed to consist of 360 days) on the Class C Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class C Rate or, in the case of the first Payment Date, on the Class C Initial Principal Balance.

Class C Interest Distributable Amount means, with respect to ------------------------------------- any Distribution Date, the sum of Class C Monthly Interest for such Distribution Date and the Class C Interest Carryover Shortfall for such Distribution Date.

Class C Interest Distributable Amount means, with respect to any Distribution Date, the sum of (i) thirty (30) days of interest or, in the case of the initial Distribution Date, the number of days in the related Collection Period, at the Class C Pass-Through Rate on the Class C Certificate Balance as of the close of business on the last day of the related Collection Period, calculated on the basis of a 360-day year consisting of twelve 30-day months, and (ii) the Class C Interest Carryover Shortfall, if any, for the preceding Distribution Date.

Class C Interest Distributable Amount. For any Distribution Date, an amount, if any, equal to the interest payable on the Class C-1 Master REMIC Regular Interest and Class C-2 Master REMIC Regular Interest as described in Appendix J.

Class C Interest Distributable Amount means, with respect to any Payment Date, the sum of (i) thirty (30) days of interest or, in the case of the initial Payment Date, the number of days in the related Collection Period, at the Class C Pass-Through Rate on the Class C Certificate Balance as of the close of business on the last day of the related Collection Period, calculated on the basis of a 360-day year consisting of twelve 30-day months, and (ii) the Class C Interest Carryover Shortfall, if any, for the preceding Payment Date.