Note Component definition
Examples of Note Component in a sentence
All payments of principal on each Note shall be applied to the related Note Components as follows: (i) with respect to each A Note, to Note Component A of such A Note, until such Note Component A has been repaid in full, (ii) with respect to each B Note, first, to Note Component B, until Note Component B has been repaid in full, second, to Note Component C, until Note Component C has been repaid in full, and third, to Note Component HRR, until Note Component HRR has been repaid in full.
In addition, each Note Component shall have a fixed per annum interest rate (the “Component Rate”) as provided in the tables below.
The Yield Maintenance Premium shall be calculated separately with respect to each Note Component.
Interest payable on each Note Component shall be computed on the basis of a 360-day year and the actual number of days elapsed in the related Interest Period.
All payments of interest in respect of each Note shall be applied (i) with respect to each A Note, to Note Component A of such A Note; and (ii) with respect to each B Note, to Note Component B, Note Component C and Note Component HRR, in that order.