Class C Note Interest Requirement definition
Class C Note Interest Requirement means, with respect to any Payment Date, the sum of (a) the Class C Monthly Note Interest for such Payment Date and (b) the amount of any unpaid Class C Note Interest Shortfall.
Class C Note Interest Requirement means, with respect to any
Examples of Class C Note Interest Requirement in a sentence
All income or other gain (net of losses and investment expenses) from investments of moneys deposited in the Owner Trust Spread Account shall be applied, as directed by the Administrator by an Issuer Order, (a) to the extent available, to pay the Class C Note Interest Requirement and (b) to the extent of any remaining investment proceeds, to increase the amount on deposit on the Owner Trust Spread Account.