Post-ARD Contingent Interest Sample Clauses

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Post-ARD Contingent Interest. From and after the Series 2022-1 Anticipated Repayment Date, as applicable to each Tranche, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 2022-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 2022-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall accrue on such Tranche at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2022-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) (1) with respect to the Series 2022-1 Class A-2-I Notes, 1.80% and (2) with respect to the Series 2022-1 Class A-2-II Notes, 2.35% exceeds (b) such Tranche’s applicable Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 2022-1 Class A-2 Note Rate from and after such Tranche’s Series 2022-1 Anticipated Repayment Date. All computations of Series 2022-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.
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Post-ARD Contingent Interest. From and after the Series 2019-1 Anticipated Repayment Date of the Series 2019-1 Class A-2 Notes until the Series 2019-1 Class A-2 Outstanding Principal Amount has been paid in full, additional interest will accrue on the Outstanding Principal Amount at an annual interest rate (the “Series 2019-1 Class A-2 Post-ARD Contingent Interest Rate”), which will be equal to the greater of (a) 5% per annum and (b) a per annum rate equal to the excess, if any, by which (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the applicable Series 2019-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus 5% plus 1.950%, exceeds (ii) the Series 2019-1 Class A-2 Note Rate (such additional interest, the “Series 2019-1 Class A-2 Post-ARD Contingent Interest”). Computations of Series 2019-1 Class A-2 Post-ARD Contingent Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.
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Post-ARD Contingent Interest. From and after the Series 2015-1 Anticipated Repayment Date, as applicable to each Tranche, until the Series 2015-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full, additional interest (“Series 2015-1 Class A-2 Quarterly Post-ARD Contingent Interest”) will accrue on such Tranche at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2015‑1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) (1) with respect to the Series 2015-1 Class A-2-I Notes, 1.850%, (2) with respect to the Series 2015-1 Class A-2-II Notes, 2.100%, and (3) with respect to the Series 2015-1 Class A-2-III Notes, 2.250%, exceeds (b) the Series 2015‑1 Class A-2 Note Rate with respect to such Tranche. The Series 2015-1 Class A‑2 Quarterly Post-ARD Contingent Interest shall accrue and be payable in addition to the interest accrued on the applicable Tranche at the Series 2015-1 Class A-2 Note Rate for such Tranche. All computations of Series 2015-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.
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Post-ARD Contingent Interest. From and after the Series 2019-1 Anticipated Repayment Date, until the Series 2019-1 Class A-2 Outstanding Principal Amount has been paid in full, additional interest (“Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall accrue at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2019-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) 2.25%, exceeds (b) the Series 2019-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Offered Notes Rate from and after the Series 2019-1 Anticipated Repayment Date. All computations of Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.
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Post-ARD Contingent Interest. From and after the Series 2018-1 Anticipated Repayment Date applicable to a Subclass of the Series 2018-1 Senior Notes until the Series 2018-1 Outstanding Principal Amount with respect to such Subclass has been paid in full, additional interest (the “Series 2018-1 Class A-2 Post-ARD Contingent Interest”) shall accrue on the Outstanding Principal Amount of such Subclass at an annual interest rate (the “Series 2018-1 Class A-2 Post-ARD Contingent Interest Rate”) which for the Series 2018-1 Class A-2-I Notes and the Series 2018-1 Class A-2-II Notes shall be equal to the greater of (a) 5% per annum and (b) a per annum rate equal to the excess, if any, by which (i) the sum of the yield to maturity (adjusted to a quarterly bond-equivalent basis), on such Subclass’ Series 2018-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus 5% plus (A) with respect to the Series 2018-1 Class A-2-I Notes, 1.30% and (B) with respect to the Series 2018-1 Class A-2-II Notes, 1.50%, exceeds (ii) the Series 2018-1 Note Rate for such Subclass. Computations of Series 2018-1 Class A-2 Post-ARD Contingent Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.
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Post-ARD Contingent Interest. Any Series 2015-1 Class A-2 Post-ARD Contingent Interest will be due and payable on any applicable Quarterly Payment Date only as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so available. The failure to pay any Series 2015-1 Class A-2 Post-ARD Contingent Interest on any applicable Quarterly Payment Date (including on the Series 2015-1 Legal Final Maturity Date) in excess of amounts available therefore in accordance with the Priorities of Payment will not be an Event of Default and interest will not accrue on any unpaid portion thereof.
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Post-ARD Contingent Interest. A per annum rate equal to the greater of (a) 5% per annum and (b) a per annum rate equal to the excess, if any, by which (i) the sum of (A) the yield to maturity (adjusted to a “mortgage equivalent basis” for a monthly-pay security pursuant to the standards and practices of the Securities Industry and Financial Markets Association), on such Tranche’s Series 2018-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus (B) 5% plus (C) 1.50% exceeds (ii) such Tranche’s Series 2018-1 Class A-2 Note Rate. Rule 144A CUSIP/ISIN Numbers: 83546D AF5 / US83546DAF50 Reg S CUSIP/ISIN Numbers U83549 AE2 / USU83549AE27 Distribution: Rule 144A and Reg S Compliant This Pricing Supplement (this “Pricing Supplement”) is qualified in its entirety by reference to the Preliminary Offering Memorandum, dated January 16, 2018, of Sonic Capital LLC, Sonic Industries LLC, America’s Drive-In Restaurants LLC, America’s Drive-In Brand Properties LLC, SRI Real Estate Holding and SRI Real Estate Properties LLC (the “Preliminary Offering Memorandum”). The information in this Pricing Supplement supersedes the information in the Preliminary Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms used herein and not defined herein have the meanings assigned in the Preliminary Offering Memorandum. THE OFFERED NOTES ARE SOLELY THE JOINT AND SEVERAL OBLIGATIONS OF THE CO-ISSUERS (GUARANTEED BY THE GUARANTOR). THE OFFERED NOTES DO NOT REPRESENT OBLIGATIONS OF THE MANAGER OR ANY OF ITS AFFILIATES (OTHER THAN THE CO-ISSUERS AND THE GUARANTOR), OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, PARTNERS, REPRESENTATIVES OR AGENTS. THE OFFERED NOTES ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY. THE OFFERED NOTES REPRESENT NON-RECOURSE OBLIGATIONS OF THE CO-ISSUERS (GUARANTEED BY THE GUARANTOR) AND ARE PAYABLE SOLELY FROM THE COLLATERAL AND PROSPECTIVE INVESTORS SHOULD MAKE AN INVESTMENT DECISION BASED UPON AN ANALYSIS OF THE SUFFICIENCY OF THE COLLATERAL. THE ISSUANCE AND SALE OF THE OFFERED NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY STATE SECURITIES LAW AND NO SERIES 2018-1 CLASS A-2 NOTEHOLDER WILL HAVE THE RIGHT TO REQUIRE SUCH REGISTRATION. THE OFFERED NOTES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN RULE 902 UNDER THE 1933 ACT) UNLESS THE OFFERED NOTES ARE RE...
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Post-ARD Contingent Interest. From and after the Series 2015-1 Anticipated Repayment Date applicable to a Subclass of the Series 2015-1 Class A-2 Notes until the Series 2015-1 Class A-2 Outstanding Principal Amount with respect to such Subclass has been paid in full, additional interest will accrue on the Outstanding Principal Amount of such Subclass at an annual interest rate (the “Series 2015-1 Class A-2 Post-ARD Contingent Interest Rate”) equal to the greater of (A) 5% per annum and (B) a per annum rate equal to the excess, if any, by which (1) the sum of (a) the yield to maturity (adjusted to a quarterly bond-equivalent basis), on such Subclass’ Series 2015-1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years plus (b) 5% plus (c) (i) with respect to the Series 2015-1 Class A-2-I Notes, 2.192% and (ii) with respect to the Series 2015-1 Class A-2-II Notes, 2.589%, exceeds (2) such Subclass’ Series 2015-1 Class A-2 Note Rate (such additional interest, the “Series 2015-1 Class A-2 Post-ARD Contingent Interest”). All computations of Series 2015-1 Class A-2 Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.
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Related to Post-ARD Contingent Interest

  • Contingent Interest Contingent Interest shall accrue on the unpaid principal amount hereof on and after the Initial Operating Date. Contingent Interest shall be calculated to accrue (each an "Accrual Period") as follows: (i) in the case of the First Accrual Period, from, and including, the Initial Operating Date to, and including: a) the end of the First Accrual Period if the principal amount of this Note has not become due and payable; or b) the date of payment if the principal amount of this Note has become due and payable, whether at stated maturity, upon acceleration, upon any mandatory or optional redemption or otherwise; (ii) in the case of each Semiannual Period following the First Accrual Period from, but excluding, the end of the First Accrual Period or the end of the immediately preceding Semiannual Period, as applicable, to, and including, the end of each such Semiannual Period if the principal amount of this Note has not become due and payable during such period; and (iii) in the case of any Interim Period following the First Accrual Period from, but excluding, the end of the First Accrual Period or most recent Semiannual Period, as applicable, to, and including, the date of payment if the principal amount of this Note has become due and payable, whether at stated maturity, upon acceleration, upon any mandatory or optional redemption or otherwise. On each Interest Payment Date after the First Accrual Period, Contingent Interest with respect to the Accrual Period completed immediately prior to that Interest Payment Date shall be in cash; provided, however, that, except as set forth in Section 3.02 hereof, Contingent Interest shall be deferred and shall not be paid unless and until the Authority has satisfied the Release Condition on such Interest Payment Date; provided, however, that the Authority shall not make any payments on an Interest Payment Date unless all amounts due and payable with respect to the Senior Notes on such Interest Payment Date and all prior Interest Payment Dates have been paid in full in cash. If, on any Interest Payment Date after the First Accrual Period, the Authority has not satisfied the Release Conditions, the Contingent Interest which otherwise would have been payable on such Interest Payment Date shall be deferred and shall earn interest on such deferred amount from the date of such deferral to the date such Contingent Interest is paid, at an interest rate of 1.0% per annum. Contingent Interest shall be computed on the basis of a 360-day year of twelve 30-day months. If the Release Condition has been met on any Interest Payment Date, the Authority shall pay, in addition to the Contingent Interest otherwise payable on such Interest Payment Date, all deferred Contingent Interest (together with interest on such Contingent Interest as provided in this Note); provided, however, that to the extent any amounts loaned from the Contingent Interest Account to the Manager under the Management Fees Note (as defined in the Cash Accumulation Account and Contribution Agreement) are outstanding, such deferred Contingent Interest amounts shall continue to be deferred and shall not be payable until such time the Management Fees Note is repaid in full. If any amounts remain outstanding under the Management Fees Note on the maturity date of this Note, the corresponding amount of Contingent Interest will be cancelled.

  • No Equity Participation or Contingent Interest No Mortgage Loan contains any equity participation by the lender or provides for negative amortization (except that the ARD Loan may provide for the accrual of interest at an increased rate after the Anticipated Repayment Date) or for any contingent or additional interest in the form of participation in the cash flow of the related Mortgaged Property.

  • No Contingent Interest or Equity Participation No Mortgage Loan has a shared appreciation feature, any other contingent interest feature or a negative amortization feature (except that an ARD Loan may provide for the accrual of the portion of interest in excess of the rate in effect prior to the Anticipated Repayment Date) or an equity participation by the Mortgage Loan Seller.

  • No Buydown Provisions; No Graduated Payments or Contingent Interests The Mortgage Loan does not contain provisions pursuant to which Monthly Payments are paid or partially paid with funds deposited in any separate account established by the Company, the Mortgagor or anyone on behalf of the Mortgagor, or paid by any source other than the Mortgagor nor does it contain any other similar provisions currently in effect which may constitute a "buydown" provision. The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent interest feature;

  • Interest Amount Unless otherwise specified in Paragraph 11(f)(iii), the Transferee will transfer to the Transferor at the times specified in Paragraph 11(f)(ii) the relevant Interest Amount to the extent that a Delivery Amount would not be created or increased by the transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed a Valuation Date for this purpose).