Class B Deferred Interest definition
Class B Deferred Interest means an amount equal to the sum of (i) if such Payment Date occurs during a Sequential Interest Amortization Period, interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class B Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class B Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.
Class B Deferred Interest means, with respect to the Class B Notes and any Payment Date that occurs during a Sequential Interest Amortization Period when the Class A Notes are Outstanding, an amount equal to the sum of (i) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class B Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class B Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.
Class B Deferred Interest means with respect to any Distribution Date, as long as any Class A Notes are outstanding, the shortfall (if any) in the payment of the accrued and unpaid interest on the Class B Notes on such Distribution Date or any previous Distribution Date, in each case to the extent not previously paid.
Examples of Class B Deferred Interest in a sentence
Note Interest, Post ARD Additional Interest, Deferred Post ARD Additional Interest and Class B Deferred Interest with respect to the Series 2017-1 Notes shall each be computed on the basis of a 360-day year consisting of twelve (12) 30-day months.
More Definitions of Class B Deferred Interest
Class B Deferred Interest means, on any Interest Payment Date, the interest deferred on the Class B Notes as set out in Condition 6(c)(Deferral of Interest).
Class B Deferred Interest means, on any Payment Date, an amount equal to the amount of unpaid interest in respect of the Class B Notes on such Payment Date.
Class B Deferred Interest until paid in full as provided aforesaid, and Class B Deferred Interest shall bear interest until paid at a rate per annum equal to the Applicable Rate for Class B Loans).
Class B Deferred Interest has the meaning assigned to such term in Section 2.5(b).
Class B Deferred Interest. With respect to any Payment Date during the continuance of a Special Amortization Event and the Series 2017-1 Class B Notes, the interest accrued during the related Accrual Period at the applicable Note Rate for such Class, applied to the Class Principal Balance of such Class on such Payment Date before giving effect to any payments of principal on such Payment Date.
Class B Deferred Interest. If applicable to the Class B Notes of a Series, as defined in the applicable Series Supplement.
Class B Deferred Interest means the amount of interest on the Class B Notes which is not paid when due and payable in accordance with the Priority of Payments.