Class B Note definition
Examples of Class B Note in a sentence
Following the payment in full of the Class A Note Balance, the Class B Note Balance and of all other amounts owing or to be distributed hereunder or under the Indenture or the Trust Agreement to Noteholders, as directed in writing by the Servicer, the Indenture Trustee shall release to the Seller any amounts remaining on deposit in the Reserve Account.
Any attempted sale, pledge or other transfer in contravention of this Section 2.14(c) will be void ab initio and the purported transferor will continue to be treated as the owner of the Class B Note.
Any transferee, other than the Depositor or an Affiliate thereof, acquiring a Class B Note or an interest therein shall be deemed to have made the representations set forth on the Class B Note (as set forth on Exhibit A-3).