Note Interest for any Class of Notes and Payment Date means interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).
Note Interest means interest payable in respect of the Notes of any Series pursuant to the Series Supplement for such Series.
Note Interest for these Class A(2015-A) Notes has the meaning set forth in the Note Purchase Agreement.
Examples of Note Interest in a sentence
Any portion of the Purchase Money Note Guaranty Fee that is not paid when due shall accrue interest for each day unpaid, from the Distribution Date such amount becomes payable until it is paid in full (after as well as before judgment), at a rate per annum equal to the Purchase Money Note Interest Rate, payable in accordance with Section 5.1 of the Custodial and Paying Agency Agreement.
More Definitions of Note Interest
Note Interest. On any Payment Date for any Class of Notes, the interest accrued during the related Accrual Period at the Note Rate for such Class, applied to the Class Principal Balance of such Class on such Payment Date before giving effect to any payments of principal on such Payment Date. The Note Interest with respect to each Class of Notes will be calculated on a 30/360 basis or actual/360 basis, as indicated in the applicable Series Supplement.
Note Interest means, with respect to any Payment Date and each Class of Notes, interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).
Note Interest means, with respect to any Payment Date, an amount equal to the sum of (i) interest accrued during the Interest Accrual Period at the Interest Rate with respect to the Notes on the Outstanding Principal Balance plus (ii) any accrued and unpaid Note Interest from prior Payment Dates, together with, to the extent permitted by Law, interest thereon at such Interest Rate during the Interest Accrual Period, calculated on the basis of a 360-day year consisting of twelve 30-day months.
Note Interest. As to the Notes and any Payment Date, the amount of interest payable to Holders of such Notes on such Payment Date, which amount shall be equal to interest at 1/12th of the Note Interest Rate on the Note Balance as of the preceding Payment Date (after giving effect to the payment, if any, in reduction of principal made on such Notes on such preceding Payment Date). All calculations of interest on the Notes will be computed on the basis of twelve thirty-day months and a year of 360 days.
Note Interest means (i) with respect to the Class A Notes and any Payment Date, an amount equal to the sum of (a) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class A Notes immediately prior to such Payment Date and (b) the amount of unpaid Note Interest for the Class A Notes from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate. and (ii) with respect to the Class B Notes and (a) any Payment Date occurring during a Non-Sequential Interest Amortization Period or occurring during a Sequential Interest Amortization Period when the Class A Notes are not Outstanding, an amount equal to the sum of (1) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class B Notes immediately prior to such Payment Date and (2) the amount of unpaid Note Interest for the Class B Notes from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate, and (b) any Payment Date occurring during a Sequential Interest Amortization Period when the Class A Notes are Outstanding, an amount equal to zero.
Note Interest means, with respect to any Investor at any time, the undivided interest in the Note owned by such Investor at such time.
Note Interest for the Principal Amount Notes and any Payment Date means interest for the related Interest Period at the Note Rate on the Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).