Class B Monthly Interest Sample Clauses

Class B Monthly Interest. An amount equal to the lesser of (A) the Class B Modified Required Amount and
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Class B Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Certificateholders, to the extent of any Available Series 2000-__ Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsection 4.09(a)(i) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 2000-__ Finance Charge Collections and (y) the excess of (1) the sum of (A) the Class B Monthly Interest and (B) Carryover Class B Monthly Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwithstanding anything to the contrary herein, Carryover Class B Monthly Interest shall be payable or distributable to Class B Certificateholders only to the extent permitted by applicable law.
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Class B Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account for distribution to the Class B Certificateholders to the extent funds are available from the Floating Allocation Percentage of Yield Collections for the Due Period immediately preceding such Distribution Date after giving effect to the withdrawal pursuant to subsection 4.08(a), an amount equal to Class B Monthly Interest for such Distribution Date plus the amount of any Class B Monthly Interest previously due but not paid to the Class B Certificateholders on a prior Distribution Date plus any additional interest at the Class B Certificate Rate plus 2% per annum with respect to interest amounts that were due but not paid on a prior Distribution Date. Interest on the Class B Certificates for any Distribution Date shall be calculated on the basis of the actual number of days in the period from and including the preceding Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) to but excluding such Distribution Date and a 360-day year.
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Class B Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and shall distribute to the Class B Certificateholders to the extent of any Available Yield Funds after giving effect to the withdrawal pursuant to Section 4.9(a), an amount equal to Class B Monthly Interest for such Distribution Date plus the amount of any Class B Monthly Interest previously due but not paid to the Class B Certificateholders on a prior Distribution Date, plus any additional interest at the Class B Certificate Rate with respect to interest amounts that were due but not paid on a prior Distribution Date.
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Class B Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account for distribution to the Class B Certificateholders to the extent funds are available from the Floating Allocation Percentage of Yield Collections for the Due Period immediately preceding such Distribution Date after giving effect to the withdrawal pursuant to subsection 4.08(a), an amount equal to Class B Monthly Interest for such Distribution Date plus the amount of any Class B Monthly Interest previously due but not paid to the Class B Certificateholders on a prior Distribution Date plus any additional interest at the Class B Certificate Rate plus 2% per annum with respect to interest amounts that were due but not paid on a prior Distribution Date. Interest on the Class B Certificates shall be calculated on the basis of a 360-day year of twelve 30-day months.
Sample 1
Class B Monthly Interest. An amount equal to the lesser of (A) the Class B Modified Required Amount and (B) the sum of any remaining Series Finance Charge Collections and any remaining Series Additional Allocable Amounts shall be withdrawn from the Series Collections Account and deposited into the Series Distribution Account.
Sample 1
Class B Monthly Interest. An amount equal to the lesser of (A) the Class B Modified Required Amount and (B) the sum of any remaining Series Finance Charge Collections and any remaining Series Additional Allocable Amounts
Sample 1
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Class B Monthly Interest. On the June 2003 Transfer Date and on each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer shall withdraw from the Accumulation Period Reserve Account and deposit in the Distribution Account for distribution on the following Distribution Date to the Class B Securityholders, to the extent of funds available after giving effect to the withdrawal pursuant to subsection 4.18(c)(i) of the Agreement, an amount equal to the Class B Monthly Interest for the related Interest Accrual Period.
Sample 1
Class B Monthly Interest. An amount equal to the Class B Modified Required Amount shall be deposited into the Series Distribution Account.
Sample 1

Related to Class B Monthly Interest

  • Determination of Monthly Interest (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360, (ii) the Class A Certificate Rate for such Distribution Date and (iii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date. On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class A Interest Shortfall”), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Distribution Date. If the Class A Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class A Interest Shortfall is fully paid, an additional amount (“Class A Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360, (ii) the sum of (x) the Class A Certificate Rate and (y) 2.0% per annum and (iii) such Class A Interest Shortfall (or the portion thereof which has not been paid to the Class A Certificateholders) shall be payable as provided herein with respect to the Class A Certificates. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to the Class A Certificateholders only to the extent permitted by applicable law.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Distribution Date 13 DTC...........................................................................................13

  • Monthly Investor Report On each Payment Date, the Indenture Trustee will deliver the Monthly Investor Report to each Noteholder of record as of the most recent Record Date (which delivery may be made by e-mail to the e-mail addresses in the Note Register without need for confirmation of receipt or by making the report available to the Noteholders through the Indenture Trustee’s website, which initially is located at xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx).

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

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