Note Payment Sequence definition

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

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

Note Payment Sequence means, the application, in accordance with the Priority of Payments, of Collateral Interest Collections or Collateral Principal Collections, as applicable, in the following order:

Examples of Note Payment Sequence in a sentence

• Any such redemption of the Notes may also adversely affect the risk profile of Classes of Notes 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 of the most senior ranking Classes of Notes in accordance with the Note Payment Sequence which bear a lower rate of interest than the remaining Classes of Rated Notes.

• Any such redemption of the Notes may also adversely affect the risk profile of Classes of Notes 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 of the most senior ranking Classes of Notes in accordance with the Note Payment Sequence which bear a lower rate of interest than the remaining Classes of Notes.

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

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

• With respect to any Class, each Class that is junior in right of payment to such Class under the Note Payment Sequence.

More Definitions of Note Payment Sequence

Note Payment Sequence means the application, in accordance with the Priority of Payments, of Interest Proceeds, Principal Proceeds, Refinancing Proceeds or Partial Redemption Interest Proceeds as applicable, in the following order:

Note Payment Sequence means the application of Interest Proceeds or Principal Proceeds, as applicable, in accordance with the relevant Priorities of Payments in the following order:

Note Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, to the payment of principal of the Class A Notes until the Class A Notes have been paid in full; provided that, in connection with any Tax Redemption, Optional Redemption or Clean-Up Call Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes.

Note Payment Sequence means the application of Aggregate Interest Proceeds in accordance with the Aggregate Interest Proceeds Priority of Payments or the application of Aggregate Principal Proceeds in accordance with the Aggregate Principal Proceeds Priority of Payments, as applicable, in the following order:

Note Payment Sequence means the application of Interest Proceeds and Principal Proceeds in accordance with the Priorities of Payment, as applicable, in the following order:

Note Payment Sequence means the application of Interest Proceeds pursuant to the Interest Proceeds Priority of Payment or the application of Principal Proceeds pursuant to the Principal Proceeds Priority of Payments, as applicable, in the following order:

Note Payment Sequence means the application of Aggregate Interest Proceeds or the application of Aggregate Principal Proceeds in accordance with Condition 3(c) (Priorities of Payment), as applicable, in the following order: