Debt Payment Sequence definition

Debt Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, in the following order:

Debt Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, in the following order: (i) to the payment of principal of the Class A-1 Notes, the Class A-1F Notes and the Class A-L Loans, pro rata, based on the Aggregate Outstanding Amounts thereof, until such amounts have been paid in full; (ii) to the payment of principal of the Class B Notes until the Class B Notes have been paid in full; (iii) to the payment of any (1) first, accrued and unpaid interest (excluding Deferred Interest but including interest accrued thereon) on the Class C Notes and (2) second, any Deferred Interest on the Class C Notes, until such amounts have been paid in full; (iv) to the payment of principal of the Class C Notes until the Class C Notes have been paid in full;

Debt Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, in the following order: (i) to the payment, pro rata based on the Aggregate Outstanding Amounts thereof, of principal of the Class X Notes, the Class A-1 Notes, the Class A-L-A Loans and the Class A-L-B Loans, until the Class X Notes, the Class A-1 Notes, the Class A-L-A Loans and the Class A-L-B Loans have been paid in full; and (ii) to the payment of principal of the Class B Notes until the Class B Notes have been paid in full. “Debtholder”: With respect to any Debt, the Holder of such Debt as specified in the Note Register or the Loan Register, as applicable. “Default”: Any Event of Default or any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default. “Default Rate Dispersion”: As of any date of determination, the number obtained by (a) summing the products for each Collateral Obligation (other than Defaulted Obligations) of (i) the absolute value of (x) the S&P Rating Factor of such Collateral Obligation minus (y) the

Examples of Debt Payment Sequence in a sentence

• Such amounts will be used for application in accordance with the Debt Payment Sequence in an amount sufficient to satisfy the Moody's Rating Condition.

• Notwithstanding the above, Supplemental Reserve Amounts may be distributed to the Subordinated Noteholders pursuant to Condition 3(k)(vi) (Supplemental Reserve Account) on a Payment Date on which scheduled interest on the Rated Debt is not paid in full without regard to the Debt Payment Sequence.

• In addition, subject to certain conditions set out in Condition 17 (Additional Issuances), the Issuer may create and issue a new class of additional Debt which shall rank below the Class F Notes but above the Subordinated Notes in respect of the Debt Payment Sequence.

• This helps in reflecting a bank’s management capacity to create profit by utilizing its available assets (Almazari, 2011).

• Furthermore, where one or more Classes of Rated Debt is redeemed through a Refinancing, Debt Holders should be aware that any such redemption would occur outside of the Debt Payment Sequence and the Priorities of Payment.

• Any such redemption or repayment of the Rated Debt may also adversely affect the risk profile of Classes of Rated Debt in addition to the Subordinated Notes to the extent that the amount of excess spread capable of being generated in the transaction reduces as the result of redemption or repayment of the most senior ranking Classes of Rated Debt in accordance with the Debt Payment Sequence which bear a lower rate of interest than the remaining Classes of Debt.

• Furthermore, where one or more Classes of Rated Debt is redeemed or repaid through a Refinancing, Debt Holders should be aware that any such redemption or repayment would occur outside of the Debt Payment Sequence and the Priorities of Payments.

• In addition, subject to certain conditions set out in Condition 17 (Additional Issuances), the Issuer may create and issue a new class of additional notes which shall rank below the Class F Notes but above the Subordinated Notes in respect of the Debt Payment Sequence.

• Any listing consisting solely of the name, address and telephone number of the licensee need not include the licensee’s license number .

• Any such redemption of the Debt may also adversely affect the risk profile of Classes of Debt in addition to the Subordinated Notes to the extent that the amount of excess spread capable of being generated in the transaction reduces as the result of redemptionof the most senior ranking Classes of Debt in accordance with the Debt Payment Sequence which bear a lower rate of interest than the remaining Classes of Rated Debt.