Partial Redemption Interest Proceeds definition

Partial Redemption Interest Proceeds means, in connection with a Partial Redemption or a Re-Pricing Redemption, Interest Proceeds in an amount equal to (a) the lesser of (i) the amount of accrued interest on the Classes being redeemed or refinanced and (ii) the amount the Asset Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of accrued interest on the Classes being redeemed or refinanced on the next subsequent Payment Date (or, if the Partial Redemption Date or the Re-Pricing Redemption Date is a Payment Date, such Payment Date) if such Classes had not been redeemed or refinanced plus (b) if the Partial Redemption Date or the Re-Pricing Redemption Date is not a Payment Date, the amount (i) the Asset Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of Administrative Expenses on the next subsequent Payment Date plus (ii) any reserve established by the Issuer with respect to such Partial Redemption or Re-Pricing Redemption.

Partial Redemption Interest Proceeds means, in connection with a Partial Redemption or a Re-Pricing Redemption, Interest Proceeds in an amount equal to the lesser of

Partial Redemption Interest Proceeds. In connection with a Partial Refinancing or a Re-Pricing, Interest Proceeds in an amount equal to (1) the lesser of (a) the amount of accrued and unpaid interest on the Secured Debt being redeemed (or, in the case of the Class A-2 Loans, prepaid) and (b) the amount the Collateral Manager reasonably determines will be available for distribution under the Priority of Payments for the payment of accrued and unpaid interest on the Secured Debt being redeemed (or, in the case of the Class A-2 Loans, prepaid) on the Partial Redemption Date or Re-Pricing Date (or, if such Partial Redemption Date or Re-Pricing Date is not a Payment Date, then the amount the Collateral Manager reasonably determines will be available for distribution under the Priority of Payments for the payment of accrued and unpaid interest on the Secured Debt being redeemed (or, in the case of the Class A-2 Loans, prepaid) on the next succeeding Payment Date, after determination of the amount of interest payable on any Class of Debt payable prior to the Secured Debt being redeemed (or, in the case of the Class A-2 Loans, prepaid) under the Priority of Payments on a pro forma basis) plus (2) any amounts on deposit in the Supplemental Reserve Account the Collateral Manager designated as Partial Redemption Interest Proceeds.

Examples of Partial Redemption Interest Proceeds in a sentence

• As described in Condition 7(b)(v) (Optional Redemption effected in whole or in part through Refinancing), Refinancing Proceeds may be used in connection with either a redemption in whole of the Rated Notes or a redemption in part of the Rated Notes by Class (and Partial Redemption Interest Proceeds may be used in connection with a redemption in part of the Rated Notes by Class).

• Subject to certain conditions, the Rated Notes may be redeemed in whole or in part by the Issuer by the redemption in whole of one or more Classes (or tranches) of Rated Notes at their applicable Redemption Price(s) from Refinancing Proceeds (or, in the case of a redemption in part of the Rated Notes by Class, the Partial Redemption Interest Proceeds) at the option of the Subordinated Noteholders (acting by Ordinary Resolution) but without the consent of the holders of any other Class of Notes.

• As described in Condition 7(b)(v) (Optional Redemption effected in whole or in part through Refinancing), Refinancing Proceeds may be used in connection with either a redemption in whole of the Rated Notes or a redemption in part of the Rated Notes by Class and Partial Redemption Interest Proceeds may be used in connection with a redemption in part of Rated Notes by Class (see Condition 7(b)(ii) (Optional Redemption in Part – Subordinated Noteholders or Collateral Manager)).

• As described in Condition 7(b)(v) (Optional Redemption effected in whole or in part through Refinancing) Refinancing Proceeds may be used in connection with either a redemption in whole of the Rated Notes or a redemption in part of the Rated Notes by Class and Partial Redemption Interest Proceeds may be used in connection with a redemption in part of Rated Notes by Class.

• In the case that one or more but not every Outstanding Class of Rated Notes is the subject of a Refinancing, the Refinancing Proceeds together with the Partial Redemption Interest Proceeds shall be at least sufficient to redeem the applicable Class or Classes of Rated Notes that is or are the subject of the Refinancing at the applicable Redemption Price for such Class or Classes.

More Definitions of Partial Redemption Interest Proceeds

Partial Redemption Interest Proceeds means, in connection with a Partial Redemption or a Re-Pricing Redemption, Interest Proceeds in an amount equal to (a) the lesser of (a) (i) the amount of accrued interest on the NotesClasses being redeemed or refinanced and

Partial Redemption Interest Proceeds. In connection with a Partial Redemption Date, Interest Proceeds in an amount equal to the sum of (a) the lesser of (i) the amount of accrued interest on the Classes being refinanced (after giving effect to payments under the Priority of Interest Payments if the related Partial Redemption Date would have been a Payment Date without regard to such Refinancing) and (ii) the amount the Collateral Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of accrued interest on the Classes being refinanced on the next subsequent Payment Date if such Notes had not been refinanced plus (b) the amount (i) the Collateral Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of Administrative Expenses on the next subsequent Payment Date and (ii) any reserve previously established by the Issuer (or the Collateral Manager on behalf of the Issuer) with respect to such Refinancing.

Partial Redemption Interest Proceeds. In connection with a Partial Redemption by Refinancing, Interest Proceeds in an amount equal to the sum of (i) the lesser of (a) the amount of accrued interest on the Classes being refinanced (after giving effect to payments under Section 11.1(a)(i) if the Redemption Date would have been a Distribution Date without regard to the Partial Redemption by Refinancing) and (b) the amount the Portfolio Manager reasonably determines would have been available for distribution under the Priority of Distributions for the payment of accrued interest on the Classes being refinanced on the next subsequent Distribution Date (or, if the Redemption Date is otherwise a Distribution Date, such Distribution Date) if such Notes had not been refinanced plus (ii) if the Redemption Date is not otherwise a Distribution Date, an amount equal to (a) the amount the Portfolio Manager reasonably determines would have been available for distribution under the Priority of Distributions for the payment of Administrative Expenses with respect to such Partial Redemption by Refinancing on the next subsequent Distribution Date plus (b) the amount of any reserve established by the Issuer with respect to such Partial Redemption by Refinancing.

Partial Redemption Interest Proceeds. In connection with a Partial Redemption or a Re--Pricing Redemption, the sum of (a) Interest Proceeds in an amount equal to the amount of accrued interest on the Classes being refinanced after giving effect to payments under the Priority of Interest Proceeds and (b) if the Partial Redemption Date or Re-Pricing Redemption Date is not a Payment Date, the amount (i) the Collateral Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of Administrative Expenses on the next subsequent Payment Date and (ii) any reserve established by the Issuer with respect to such Partial Redemption.

Partial Redemption Interest Proceeds. In connection with a Refinancing of one or more (but not all) Classes of the Rated Notes, Interest Proceeds in an amount equal to the accrued interest on the Classes that are subject to the Refinancing.

Partial Redemption Interest Proceeds. In connection with a Refinancing of the Secured Notes in part by Class on a Partial Redemption Date that is not a Payment Date, Interest Proceeds in an amount equal to the sum of (a) the lesser of (i) the amount of accrued interest on the Classes being refinanced and (ii) the amount the Collateral Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of accrued interest on the Classes being refinanced on the next subsequent Payment Date if such Notes had not been refinanced plus (b) the amount the Collateral Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of Administrative Expenses on the next subsequent Payment Date.

Partial Redemption Interest Proceeds. Means, in connection with a Partial Redemptionor Re-Pricing if the date of redemption of Secured Notes in connection therewith is not a Payment Date, Interest Proceeds in an amount equal to the sum of: (a) the lesser of (i) the amount of accrued interest on the Classes of Secured Notes being refinanced or repriced and (ii) the amount the Portfolio Manager reasonably determines (calculated on a pro forma basis assuming the Partial Redemption or Re-Pricing had not occurred) would have been available for distribution under the Priority of Payments for the payment of accrued interest on the Notes being redeemed in the Partial Redemption or Re-Pricing on the next subsequent Payment Date; plus (b) the amount (i) the Portfolio Manager reasonably determines would have been available for distribution under the Priority of Payments for the payment of Administrative Expenses pursuant to Section 11.11.1(a)(i)(T), Section 11.11.1(a)(ii)(E) or Section 11.1(a)(iii)(S), as applicable, with respect to such Partial Redemption or Re-Pricing, as applicable, on the next subsequent Payment Date and (ii) any reserve established by the Issuer with respect to such Partial Redemption or Re-Pricing.