Class C Percentage Interest definition

Class C Percentage Interest. As of any date of determination, with respect to the Class C Regular Interest and the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class C Certificates, and the denominator of which is the Certificate Balance of the Class C Regular Interest.

Class C Percentage Interest. As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

Class C Percentage Interest means, the quotient of the Aggregate Certificate Balance of the Class C Certificates divided by the Certificate Balance of the Class C REMIC III Regular Interest. As of the Closing Date, the Class C Percentage Interest shall be 50.0%.

Examples of Class C Percentage Interest in a sentence

• On each Distribution Date, the amount of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date allocated to the Class C REMIC III Regular Interest shall be allocated between the Class C Certificates and the Class PST Component C, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.

• At all times, the Class A-S, Class B and Class C Certificates shall represent beneficial ownership interests in the Class A-S Percentage Interest, the Class B Percentage Interest and the Class C Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest, Class B REMIC III Regular Interest and Class C REMIC III Regular Interest, respectively.

• The Class A-S, Class B and Class C Certificates represent ownership of the Class A-S Percentage Interest, the Class B Percentage Interest and the Class C Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest, Class B REMIC III Regular Interest and Class C REMIC III Regular Interest, respectively.

• As provided in the Agreement and subject to certain limitations therein set forth, this Class C Certificate is exchangeable for new Class C Certificates evidencing the same aggregate Class C Percentage Interest, as requested by the Class C Certificateholder surrendering the same.

• The Trustee has delivered upon the instruction of the Depositor, in exchange for the Receivables, Class A Certificates and the Class B Certificates duly authenticated by the Trustee, in authorized denominations equaling in the aggregate the initial Class A Certificate Balance and the initial Class B Certificate Balance and the Class C Certificate duly authenticated by the Trustee, evidencing an aggregate Class C Percentage Interest of 100%.

More Definitions of Class C Percentage Interest

Class C Percentage Interest means, with respect to a Class C Member, the percentage obtained by dividing (a) the number of Class C Units held by such Class C Member by (b) all issued and outstanding Class C Units.

Class C Percentage Interest means, with respect to a Class C Holder at any time and from time to time, a percentage equal to a fraction, the numerator of which is the number of Class C Units owned by such Class C Holder and the denominator of which is the aggregate number of Common Units owned by all Members;

Class C Percentage Interest means, at all times, 50.0%.

Class C Percentage Interest means, with respect to each Class C Member, as of the time of determination, the quotient (expressed as a percentage) obtained by dividing the number of Class C Units held by such Member by (b) the total number of Class C Units outstanding.

Class C Percentage Interest means the fraction (expressed as a percentage), the numerator of which is the Percentage Interest of the applicable Class C Member and the denominator of which is the aggregate Percentage Interest of all Class C Members on the applicable date of computation.

Class C Percentage Interest means, with respect to a Class C Member, the number of Class C Units set forth opposite such Member’s name on Schedule 3.1 divided by the aggregate number of outstanding Class C Units set forth on Schedule 3.1, subject to adjustment pursuant to a transfer of a Class C Unit by such Member or the issuance of new Class C Units by the Company, in either case, in compliance with the terms of this Agreement

Class C Percentage Interest. The interest in the Class C Portion of the Trust that is evidenced by a Class C Certificate and that is set forth on the face of such Certificate; PROVIDED, HOWEVER, that the Trustee on behalf of the Trust shall only issue Class C Certificates evidencing in the aggregate Class C Percentage Interests totaling 100%.