Class B Interest definition
Class B Interest. Each of the Class B-1 and Class B-2 Interests.
Class B Interest means an Interest that has been designated as Class B.
Class B Interest. Each regular interest in a Lower Tier REMIC with the letter "B" in its class designation.
Examples of Class B Interest in a sentence
Class B Interest shall accrue on the unpaid principal amount of each Class B Advance from the date of such Advance until such principal amount is paid in full.
Class B Interest shall accrue on the unpaid principal amount of each Class B Revolving Advance from the date of such Advance until such principal amount is paid in full.
More Definitions of Class B Interest
Class B Interest means an Interest in the Company which is classified on Exhibit B as a Class B Interest and which has the rights, powers and privileges enjoyed by a Member holding a Class B Percentage Interest (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member, and all obligations, duties and liabilities imposed on such a Member (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member.
Class B Interest means the Membership Interest issued pursuant to Section 3.2, which entitles the Holder thereof to receive distributions of cash and property, allocations of profits and losses and other rights that are accorded Holders of a Class B Interest under this Agreement.
Class B Interest has the meaning set forth in Section 5.7(a).
Class B Interest means, for each day during an Interest Accrual Period and each outstanding Class B Advance on such day, the sum of the products (for each day during such Interest Accrual Period) of: where: IR = the Interest Rate for such Class B Advance on such day; P = the principal amount of such Class B Advance on such day; and D = 360.
Class B Interest means the interest distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.6(b) of the Agreement.
Class B Interest means the limited liability company interest represented by the Class B Units owned by a Class B Members in the Company at any particular time, including the right of such Class B Members to any and all benefits to which such Class B Member may be entitled as provided in the Act, this Agreement, or otherwise, together with the obligations of such Class B Member to comply with all terms and provisions of this Agreement and the Act.
Class B Interest means the Interests held by the Class B Member having such rights and preferences as are set forth herein.