Note Interest Distributable Amount definition

Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

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

Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of (i) an amount equal to the interest accrued during the related Interest Accrual Period at the related Interest Rate for such Class of Notes on the outstanding principal amount of such Class of Notes on the immediately preceding Distribution Date, after giving effect to all payments of principal to Noteholders of such Class on or prior to such Distribution Date (or, in the case of the first Distribution Date, on the original principal amount of such Class of Notes) and (ii) the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date.

Examples of Note Interest Distributable Amount in a sentence

• In the event that the Indenture Trustee determines that there exists a Shortfall, the Indenture Trustee shall no later than 12:00 noon, Chicago, Illinois time, on such Distribution Date remit monies from the Reserve Fund in the following order of priority: first, to the Note Distribution Account, the amount of such Shortfall relating to the Note Interest Distributable Amount and second, to the Note Distribution Account, the amount of such Shortfall relating to the Note Principal Distributable Amount.

• In the event that the Indenture Trustee determines that there exists a Shortfall, the Indenture Trustee shall no later than 12:00 noon, Chicago, Illinois time, on such Distribution Date remit monies from the Reserve Fund in the following order of priority: first, to the Note Distribution Account; the amount of such Shortfall relating to the Note Interest Distributable Amount and second, to the Note Distribution Account, the amount of such Shortfall relating to the Note Principal Distributable Amount.

• The Notes are entitled to the benefits of a financial guaranty insurance policy (the "Insurance Policy") issued by MBIA Insurance Corporation (the "Insurer"), pursuant to which the Insurer has unconditionally guaranteed payment of the Note Interest Distributable Amount on each Distribution Date and the Guaranteed Note Principal Amount of the Notes all as more fully set forth in the Insurance Policy.

• The Borrower will pay interest on this 20[__]-[_] Exchange Note in an amount equal to the 20[__]-[_] Exchange Note Interest Distributable Amount, and principal on this 20[__]-[_] Exchange Note in an amount equal to the 20[__]-[_] Exchange Note Principal Distributable Amount, in each case, until the principal of this 20[__]-[_] Exchange Note is paid or made available for payment.

• The Borrower will pay interest on this 20__-__ Exchange Note in an amount equal to the 20__-__ Exchange Note Interest Distributable Amount until the principal of this 20__-__ Exchange Note is paid or made available for payment.

More Definitions of Note Interest Distributable Amount

Note Interest Distributable Amount means to the extent applicable, the sum of the Class A-1 Interest Distributable Amount, the Class A-2 Interest Distributable Amount, the Class A-3 Interest Distributable Amount, the Class A-4 Interest Distributable Amount, the Class B Interest Distributable Amount, the Class C Interest Distributable Amount and the Class D Interest Distributable Amount.

Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of the Note Quarterly Interest Distributable Amount for such Class of Notes for such Distribution Date and the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date. For all purposes of this Agreement and the other Basic Documents, interest with respect to the (i) Class A-1 and Class A-2 Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed since the immediately preceding Distribution Date (or, with respect to the first Distribution Date, since August 1, 1998) and (ii) Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the [Class A-2[a],] [Class A-3] [,][and] [Class A-4] [and Class B] Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 [and Class A-2b] Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of (i) an amount equal to the interest accrued during the related Interest Accrual Period at the related Note Rate for such Class of Notes on the Outstanding Principal Amount of such Class of Notes on the immediately preceding Distribution Date (or, in the case of the first Distribution Date, on the original Outstanding Principal Amount of such Class of Notes) and (ii) the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date.

Note Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class A-1 Interest Distributable Amount, the Class A-2 Interest Distributable Amount, the Class A-3 Interest Distributable Amount, the Class A-4 Interest Distributable Amount and the Class B Interest Distributable Amount.

Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of the Note Quarterly Interest Distributable Amount for such Class of Notes for such Distribution Date and the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date. For all purposes of this Agreement and the other Basic Documents, interest with respect to the (i) Class A-1 Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed since the immediately preceding Distribution Date (or, with respect to the first Distribution Date, since the Cut-Off Date) and

Note Interest Distributable Amount. With respect to any Payment Date, an amount equal to the sum, for each Asset Pool Portion, of (i) the product of (A) the Note Rate for such Asset Pool Portion for the related Interest Period times (B) the actual number of days in such Interest Period divided by 360 times (C) the daily weighted average Outstanding Amount applicable to such Asset Pool Portion plus (ii) the Interest Shortfall for such Payment Date.