Class C Interest Shortfall definition

Class C Interest Shortfall has the meaning specified in subsection 4.02(c).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Class C Interest Shortfall shall have the meaning specified in subsection 4.6(c) of the Agreement.

Class C Interest Shortfall means, with respect to any Distribution Date, the excess, if any, as determined by the Servicer, of (i) the amount described in Section 4.03(a)(iv) over (ii) the aggregate amount of Available Finance Charge Collections allocated and paid for such amounts on such Distribution Date.

Examples of Class C Interest Shortfall in a sentence

On the Determination Date preceding each Distribution Date, Servicer shall determine the excess, if any (the "Class C Interest Shortfall"), of (x) the aggregate amount accrued pursuant to this Section 4.02(c) as of the prior Distribution Date over (y) the amount of funds actually transferred from the Distribution Account for payment of such amount.
If the Class C Interest Shortfall Amount with respect to any Payment Date is greater than zero, payments of interest to the Class C Investor Noteholders will be reduced on a pro rata basis, based on the amount of interest payable to each such Class C Investor Noteholder, by such Class C Interest Shortfall Amount.
On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class C Interest Shortfall"), of (x) the Class C Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class C Monthly Interest on such Distribution Date.
On the Note Transfer Date preceding each Payment Date, the Servicer shall determine an amount (the "Class C Interest Shortfall") equal to (x) the aggregate Class C Monthly Interest for such Payment Date minus (y) the aggregate amount of funds allocated and available to pay such Class C Monthly Interest on such Payment Date.
On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Class C Interest Shortfall") equal to the excess, if any, of (x)the aggregate Class C Monthly Interest for the Interest Accrual Period applicable to the Distribution Date OVER (y)the amount available to be paid to the Class C Certificateholders in respect of interest on such Distribution Date.

More Definitions of Class C Interest Shortfall

Class C Interest Shortfall is defined in subsection 4.2(c). -------------------------- -----------------

Class C Interest Shortfall shall have the meaning specified in subsection 6.17(c) of the Agreement.

Class C Interest Shortfall shall have the meaning specified in Section 7.3(b)

Class C Interest Shortfall. As to any Distribution Date, the amount equal to (a) the Class C Interest Formula Distribution Amount for such Distribution Date less (b) the amount of interest distributed to the Class C Certificateholders on such Distribution Date.

Class C Interest Shortfall means on the Determination Date preceding each Distribution Date, the excess, if any, as determined by the Servicer, of (i) the amount described in Section 4.03(a)(iv) over (ii) the aggregate amount of Available Finance Charge Collections allocated and paid for such amounts on such Distribution Date.

Class C Interest Shortfall shall have the meaning specified in subsection 4.6(c) of the Agreement. "Class C Invested Amount" shall mean, when used with respect to any Business Day, the greater of (x) zero and (y) an amount equal to (a) the Class C Initial Invested Amount less the Class C Percentage of the initial deposit to the Pre-Funding Account plus the Class C Percentage of any withdrawals from the Pre-Funding Account (i) during the Funding Period in connection with the addition of Receivables to the Trust or (ii) at the end of the Funding Period for deposit into the Excess Funding Account, minus (b) the aggregate amount of principal payments (except principal payments made from the Pre-Funding Account) made to Class C Certificateholders through and including such Business Day, minus (c) the aggregate amount of Class C Investor Charge-Offs for all prior Distribution Dates, minus (d) the aggregate amount of Reallocated Class B Principal Collections and Reallocated Class C Principal Collections for which the Class D Invested Amount has not been reduced for all prior Business Days, and plus (e) the sum of the aggregate amount allocated and available on all prior Business Days pursuant to subsection 4.9(a)(xi) of the Agreement and, with respect to such subsection, pursuant to subsections 4.10(a) and (b), 4.16(a), 4.19(b) and 4.20(b), (c) and (d) of the Agreement, for the purpose of reinstating amounts reduced pursuant to the foregoing clauses (c) and (d).

Class C Interest Shortfall shall have the meaning specified in subsection4.6(c).

Filter & Search

Related Definitions