Note Interest Shortfall definition

Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

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Note Interest Shortfall means the Class A Note Interest Shortfall, if any, and/or the Class B Note Interest Shortfall, if any, as applicable.

Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to:

Examples of Note Interest Shortfall in a sentence

For each Payment Date, the amount of interest due with respect to the 2013-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.
For each Payment Date, the amount of interest due with respect to the 2014-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.
For each Payment Date, the amount of interest due with respect to the 2013-A Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.
For each Payment Date, the amount of interest due with respect to the 2012-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.
For each Payment Date, the amount of interest due with respect to the 2011-B Exchange Note (the “Accrued Exchange Note Interest”) will be an amount equal to the sum of the Exchange Note Monthly Interest and the Exchange Note Interest Shortfall.

More Definitions of Note Interest Shortfall

Note Interest Shortfall means, with respect to any Payment Date, the amount of any of the Class A Note Interest Shortfall, the Class B Note Interest Shortfall or the Class C Note Interest Shortfall.

Note Interest Shortfall means the Class A Note Interest Shortfall, the Class B Note Interest Shortfall and/or the Class C Note Interest Shortfall, as applicable.

Note Interest Shortfall means, for any Distribution Date, the excess of (i) the Interest Distribution Amount on the preceding Distribution Date, over (ii) the amount of interest actually distributed to the Noteholders on that preceding Distribution Date, plus interest on the amount of that excess, to the extent permitted by law, at the weighted average interest rate applicable for the Notes from that preceding Distribution Date to the current Distribution Date.

Note Interest Shortfall means, with respect to any Quarterly Distribution Date, the excess, if any, of (a) the Noteholders’ Interest Distribution Amount on the immediately preceding Quarterly Distribution Date over (b) the amount of interest actually distributed to the Noteholders on such preceding Quarterly Distribution Date, plus interest on the amount of such excess interest due to the Noteholders, to the extent permitted by law, at the interest rate borne by the Notes from such immediately preceding Quarterly Distribution Date to the current Quarterly Distribution Date.

Note Interest Shortfall with respect to the Series 2001-4 Note, has the meaning specified in Section 5.4.

Note Interest Shortfall. As of any Payment Date, the sum of (i) the amount by which the Interest Distribution Amount for such Payment Date exceeds the amount actually distributed to the Noteholders on such Payment Date and (ii) any unreimbursed Note Interest Shortfalls from prior Payment Dates together with interest accrued thereon at the Note Interest Rate for such Payment Date.

Note Interest Shortfall. With respect to any Payment Date, (i) the ----------------------- excess, if any, of the sum of the Interest Distribution Amount plus any Note Interest Shortfall, for the prior Payment Date, over the amount actually distributed on the Notes on such prior Payment Date plus (ii) interest on the amount of such excess for the related Interest Accrual Period at the then applicable Note Interest Rate.

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