Series of Class B Notes definition
Examples of Series of Class B Notes in a sentence
No payment of interest will be made on each Series of Class B Notes until all of the Issuer’s expenses (including applicable fees for Agents), and all interest on each Series of Class A Notes are paid in full, and no payment of principal will be made on a Series of Class B Notes until the principal amount of each Series of Class A Notes is paid in full.
Subordination of Notes Holders of a Series of Class B Notes will bear more credit risk with respect to the Issuer than holders of a Series of Class A Notes and will incur losses, if any, prior to holders of a Series of Class A Notes because of the subordination of the Series of Class B Notes in relation to the Series of Class A Notes.
Thereafter, payments on each Series of Class B Notes will be made from any amounts remaining from the Available Distribution Amount after the payment of principal on each Series of Class A Notes until the Note Principal Amount Outstanding of each Series of Class B Notes equals the Class B Targeted Note Balance.
Thereafter, payments of principal on each Series of Class B Notes will be made from any amounts remaining from the Available Distribution Amount after the payment of principal on each Series of Class A Notes until the Note Principal Amount Outstanding of each Series of Class B Notes equals the Targeted Remaining Class B Note Balance.
With respect to the obligation of the Issuer to pay interest on the Notes, the Conditions provide that the Class A Notes will rank pari passu and without any preference or priority among themselves; each Series of Class B Notes will rank pari passu and without any preference or priority among themselves but will be subordinated to the Class A Notes.
With respect to the obligation of the Issuer to repay principal on the Notes, the Conditions provide that the Class A Notes will rank pari passu and without any preference or priority among themselves; each Series of Class B Notes will rank pari passu and without any preference or priority among themselves but will be subordinated to the Class A Notes.
These payments of interest on the Class A Notes will be made ahead of payments of interest on each Series of Class B Notes, each Series of Class M Notes and each Series of Class C Notes; * payments of interest on the Series 1 Class B Notes, the Series 2 Class B Notes and the Series 3 Class B Notes will be made in no order of priority among them but in proportion to the respective amounts due on the Class B Notes.
These payments of interest on the Class A Notes will be made ahead of payments of interest on each Series of Class B Notes, each Series of Class M Notes and each Series of Class C Notes; o payments of interest on the Series 1 Class B Notes, the Series 2 Class B Notes and the Series 3 Class B Notes will be made in no order of priority among them but in proportion to the respective amounts due on the Class B Notes.
During 2018, the Company increased the existing Series of Class A Notes for a total amount of EUR 113.2 million and the Series of Class B Notes for a total amount of EUR 12.2 million.
On a given Issue Date falling within the Revolving Period, all Class B Notes issued on that date will constitute one or several Series of Class B Notes, which shall be identified by means of: A four digit number representing the year on which the Series was issued, in the following format: Series "20xx", followed by: The number of such Series in respect of the relevant year, in the following format "y".