Exchange Note Interest Shortfall definition

Exchange Note Interest Shortfall means, for a Payment Date, an amount equal to the excess of the Exchange Note Interest Payment Amount for the prior Payment Date over the amount of interest that was paid to the 20 - Exchange Noteholder on the prior Payment Date, together with interest on that excess amount, if lawful, at the Exchange Note Interest Rate for the related Exchange Note Interest Period.
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Exchange Note Interest Shortfall has the meaning specified in Section 2.4 of the Exchange Note Supplement.
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Examples of Exchange Note Interest Shortfall in a sentence

  • For each Payment Date, the amount of interest due on the 2015-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due on the 2015-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2014-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due on the 2014-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2013-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2013-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2012-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2011-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2011-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

  • For each Payment Date, the amount of interest due with respect to the 2012-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

Related to Exchange Note Interest Shortfall

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Collateral Interest Shortfall shall have the meaning specified in subsection 4.02(c).