SECTION 467 INTEREST definition

SECTION 467 INTEREST means and include the Lessor Section 467 Interest and the Lessee Section 467 Interest.
Sample 1Sample 2Sample 3
SECTION 467 INTEREST with respect to the Facility Lease, shall have the meaning set forth in Section 3.2(d) of the Facility Lease.
Sample 1Sample 2Sample 3
SECTION 467 INTEREST with respect to any "Section 467 Loan" to the Owner Participant pursuant to the terms of the Facility Lease as required by Section 467 of the Code and the Treasury Regulations thereunder (the "Section 467 Interest Deductions").
Sample 1

Examples of SECTION 467 INTEREST in a sentence

  • If there shall be a Lessor Section 467 Loan Balance, the Owner Lessor shall deduct interest expense and the Facility Lessee shall accrue interest income, in each case, in an amount equal to the amount set forth under the caption "Lessor Section 467 Interest" for the applicable Rent Payment Period on SCHEDULE 1-3 hereto (the "LESSOR SECTION 467 INTEREST").

  • If there shall be a Lessee Section 467 Loan Balance, the Owner Lessor shall accrue interest income and the Facility Lessee shall deduct interest expense, in each case, in an amount equal to the amount set forth for the applicable Rent Payment Period on SCHEDULE 1-3 hereto (the "LESSEE SECTION 467 INTEREST").

Related to SECTION 467 INTEREST

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Base Interest means the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Asset Interest is defined in Section 2.1(b).

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class C Additional Interest is defined in Section 4.1(c).

  • Month End Interest As defined in each Servicing Agreement.