Class C Interest Amount definition

Class C Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class C Note Interest Rate as of the first day of such Interest Accrual Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class C Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (b) the excess, if any, of (1) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Accrual Period over (2) the Outstanding Principal Balance of the Class A Notes and the Class B Notes as of the first day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (iii) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.

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Class C Interest Amount means, with respect to each Interest Accrual Period, an amount equal to the product of (i) the Note Interest Rate applicable to the Class C Notes for such Interest Accrual Period and (ii) the lesser of (a) the Outstanding Principal Balance of the Class C Notes as of the first day of such Interest Accrual Period after giving effect to all distributions on such day and (b) the excess, if any, of (x) the Aggregate Outstanding Loan Balance as of the last day of the related Collection Period over (y) the sum of the Outstanding Principal Balances of the Class A Notes and Class B Notes as of the first day of such Interest Accrual Period after giving effect to all distributions on such day; provided that for purposes of this definition in no event will the amount determined pursuant to clause (b) hereof be less than zero.

Class C Interest Amount means, for each Interest Period, an amount equal to the product of (i) the Class C Note Interest Rate for such Interest Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class C Notes for such Interest Period (after giving effect to all distributions made on such day) and (b) the excess, if any, of (1) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Period over (2) the Outstanding Principal Balance of the Class A Notes and the Class B Notes as of the first day of such Interest Period (after giving effect to all distributions made on such day) and (iii) a fraction, the numerator of which is the number of days in such Interest Period and the denominator of which is 360.

Examples of Class C Interest Amount in a sentence

On each Payment Date the Paying Agent shall, in accordance with Section 5.1 of the Base Indenture and the Master Servicer's most recent Monthly Certificate, but subject to Section 4.17 of this Supplement, pay to the Class C Noteholders from the Class C Distribution Account the amount deposited in the Class C Distribution Account for the payment of the Class C Interest Amount pursuant to Section 4.8(c) of this Supplement and clauses (i) and (ii) of this Section 4.9(c).
During each Interest Accrual Period, the Class C Note will receive interest in an amount equal to the Class C Interest Amount.
If the amounts described in this Section 4.8(c) are insufficient, after taking into account any funds available in the Series 1997 1/N1 Excess Funding Account and any portion of the Series 1997 1/N1 Letter of Credit Amount applied as described in Section 4.9(c) of this Supplement and subject to the provisions of Section 4.16 of this Supplement, to pay the Class C Interest Amount on any Payment Date, payments of interest to the Class C Noteholders will be reduced by the amount of such shortfall.
On each Payment Date the Paying Agent shall, in accordance with Section 5.1 of the Base Indenture and the Master Servicer's most recent Monthly Certificate, but subject to Section 4.16 of this Supplement, pay to the Class C Noteholders from the Class C Distribution Account the amount deposited in the Class C Distribution Account for the payment of the Class C Interest Amount pursuant to Section 4.8(c) of this Supplement and clauses (i), (ii) and (iii) of this Section 4.9(c).

More Definitions of Class C Interest Amount

Class C Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class C Note Interest Rate as of the first day of such Interest Accrual Period,

Class C Interest Amount means, for each Interest Accrual Period, an amount equal to the product of (i) the Class C Note Interest Rate as of the first (1st) day of such Interest Accrual Period, (ii) the lesser of (a) the Outstanding Principal Balance of the Class C Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (b) the greater of (1) the excess, if any, of (x) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Accrual Period over the (y) Outstanding Principal Balance of the Class A Notes and the Class B Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (2) zero, and (c) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.

Class C Interest Amount has the meaning specified in Section 4.8(c) of this Supplement.

Class C Interest Amount means, (i) for each Interest Accrual Period prior to the Class C Interest Commencement Date, zero; and (ii) for each Interest Accrual Period beginning on and after the Class C Interest Commencement Date, the product of (a) the Note Interest Rate applicable to the Class C Notes as of the first (1st) day of such Interest Accrual Period, (b) the lesser of (I) the Outstanding Principal Balance of the Class C Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (II) the greater of (1) the excess, if any, of (x) the Aggregate Outstanding Loan Balance as of the last day of the Due Period immediately preceding the start of such Interest Accrual Period over (y) the Outstanding Principal Balance of the Class A Notes and Class B Notes as of the first (1st) day of such Interest Accrual Period (after giving effect to all distributions made on such day) and (2) zero, and (C) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.

Class C Interest Amount means, on any Payment Date, the higher of:

Class C Interest Amount means, with respect to any Payment Date, an amount equal to the amount received by the holder of the Class C Note pursuant to Section 7.05(a) clause TWELFTH.

Class C Interest Amount means a Class C Floating Interest Amount, a Class C Additional Interest Amount and a Class C Third Additional Amount Distribution.

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