Note Value definition

Note Value means, with respect to any day, the present value of the unpaid Scheduled Payments on the Receivables, discounted at an annual rate equal to 4.75%. For purposes of calculating Note Value, in the case of a defaulted Receivable: (a) prior to the time at which such defaulted Receivable becomes a Repossessed Receivable or a 180-day Receivable, the Scheduled Payments on such Receivable will be computed based on the amounts that would have been the Scheduled Payments had such default not occurred; (b) at the earlier of the time at which such defaulted Receivable becomes a Repossessed Receivable or a 180-day Receivable, the amount added to the Note Value with respect to such Receivable will be the estimated realizable value of such Receivable, as determined by the Servicer in accordance with its normal servicing procedures and (c) after the time such defaulted Receivable becomes a Liquidated Receivable, and after the payment of a Purchase Amount in respect of a Purchased Receivable, there shall be deemed to be no Scheduled Payments due on such Receivable.

Note Value means, at any time, the present value of the unpaid Scheduled Payments on the Receivables (including all lease residual payments on the Leases), discounted on a monthly basis at the Discount Factor. For purposes of calculating Note Value for any (i) delinquent Receivable that has not had the Financed Equipment by which it is secured repossessed and which is not a Liquidated Receivable or a 180-Day Receivable, the amount of any delinquent payments will be assumed to be received in the next Collection Period and all other payments which have not yet become due will be assumed to be received as originally scheduled, (ii) Receivable that has had the Financed Equipment by which it is secured repossessed but which has not yet become a Liquidated Receivable or a 180-Day Receivable, the outstanding Contract Balance of that Receivable will be assumed to be received in the next Collection Period and it will be assumed that no other payments will be received on that Receivable, (iii) Liquidated Receivable, it will be assumed that no payments will be received on that Receivable and (iv) 180-Day Receivable, the aggregate amount of unpaid Scheduled Payments of such 180-Day Receivable will be reduced by the Write Down Amount, if any, calculated during the preceding Collection Period and all remaining Scheduled Payments will be assumed to be received as originally scheduled.

Note Value means the principal amount of the Note plus accrued and unpaid interest thereon as of the date of the Trigger Event.

Examples of Note Value in a sentence

• On any Valuation Date thereafter (which is not a Disrupted Day), the Note Value is calculated as the Note Value on the immediately preceding Valuation Date adjusted by the percentage change in the value of the Series Assets (net of any costs and expenses of the Issuer) since such preceding Valuation Date.

• The Calculation Agent will make all determinations relating to this Security, including the Index Performance Factor, the Index Closing Level on any Index Business Day on which such Index Closing Level is to be determined during the term of this Security, the Indicative Note Value, the Deposit Amount, the Short Index Amount, the Daily Interest, the Daily Investor Fee, the Redemption Fee Amount, the Cash Settlement Amount, if any, the Redemption Amount, if any, and the Call Settlement Amount, if any.

• On each Distribution Date, the Servicer shall be entitled to receive the Servicing Fee in respect of the immediately preceding Collection Period equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the Note Value as of the first day of such preceding Collection Period.

• Transfers may be voided by the Issuer by compelling a sale by such legal or beneficial owner or by the issuer selling such Notes on behalf of such legal or beneficial owner at the lesser of the purchase price therefor or the Note Value prevailing at the time such transfer is voided.

• Special circumstances are, for example, if the appointment of a Series Party involved in this program is terminated, if the Note Value is not published for 14 consecutive valuation days, or if changes in laws or regulations occur which prohibit the activities associated with this issue or result in significant additional expenses.

More Definitions of Note Value

Note Value means, in respect of each Note, the principal amount of such Note plus accrued and unpaid interest on such Note to, but excluding, the date of the Trigger Event.

Note Value means the principal amount of the Note plus accrued and unpaid interest thereon as of the date of the Trigger Event, expressed in Canadian dollars. In determining the Note Value of any Note, the principal amount thereof and any accrued and unpaid interest thereon shall be converted from U.S. dollars into Canadian dollars on the basis of the closing exchange rate between Canadian dollars and U.S. dollars (in Canadian dollars per U.S. dollar) reported by the Bank of Canada on the date immediately preceding the date of the Trigger Event (or if not available on such date, the date on which such closing rate was last available prior to such date). If such exchange rate is no longer reported by the Bank of Canada, the relevant exchange rate for calculating the Note Value in Canadian dollars shall be the simple average of the closing exchange rates between Canadian dollars and U.S. dollars (in Canadian dollars per U.S. dollar) quoted at approximately 4:00 p.m., New York City time, on such date by three major banks selected by the Bank.

Note Value means, in respect of each Note, $1,000 plus accrued and unpaid interest on such Note.

Note Value means, in the case of a Reimbursement Under Special Circumstances, the reimbursement amount of Notes as established by the Calculation Agent acting in good faith in accordance with industry-accepted methods based on a number of interrelated factors, such as the appreciation and the volatility of the Reference Shares, the interest rates, dividends and distributions made in respect of Reference Shares and the time remaining to the Maturity Date.

Note Value means, in the case of a Reimbursement Under Special Circumstances, the reimbursement amount of Notes of a series as established by the Calculation Agent based on a number of interrelated factors, such as the appreciation and the volatility of the Benchmark Portfolio, the interest rates, the dividends on shares included in the Benchmark Portfolio and the time remaining to the Issuance Date or Early Redemption Day. In such a situation, the Calculation Agent will request an evaluation of the value of the Notes, taking into account the interrelated factors mentioned above, from three recognized banks of a list of five banks, other than the Bank, using the date of prior notice of a Special Circumstance as the valuation date;

Note Value means, as of any particular date of computation, in respect of an Aircraft, the amount required to prepay or repay the Notes of the Series relating to such Aircraft in full, together with interest thereon accrued to (but excluding) the date of such prepayment or repayment, Prepayment Fee and all other amounts of whatever description in respect of such Notes due to the Financiers and the Security Trustee under the Facility Agreement and the other Operative Documents as of such date.

Note Value means the value of the Notes at the date of notification of an Absence of Successor Index Determination, as established by the Calculation Agent based on a number of interrelated factors, such as the appreciation and the volatility of the Sub-Indices and the time remaining to the Maturity Date. In such a situation, the Calculation Agent will request an evaluation of the value of the Notes, taking into account the interrelated factors mentioned above, from three Canadian banks, other than SG Canada.