Class C Notes Clause Samples
The 'Class C Notes' clause defines the rights, obligations, and characteristics of a specific class of securities—Class C Notes—issued under a financial agreement. This clause typically outlines the payment priority, interest rate, maturity date, and any subordination to other classes of notes, such as Class A or B. For example, Class C Notes may receive payments only after senior noteholders have been paid, and may carry higher risk and potentially higher returns. The core function of this clause is to clearly delineate the terms and risk profile associated with Class C Notes, ensuring investors understand their position in the payment hierarchy and the associated risks.
Class C Notes. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2023-4 Collection Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2023-4 Distribution Account pursuant to Section 2.3(f)(ii), 2.5(b), (c) or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay pro rata to each Class C Noteholder from the Series 2023-4 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount applied to make the payments required pursuant to Section 2.5(f)(i) and Section 2.5(f)(ii), to the extent necessary to pay the Class C Controlled Distribution Amount during the Series 2023-4 Controlled Amortization Period or to the extent necessary to pay the Class C Invested Amount during the Series 2023-4 Rapid Amortization Period.
Class C Notes. The redemption price for the Class C Notes will be calculated on the related Determination Date and will equal the Aggregate Outstanding Amount of the Class C Notes to be redeemed, together with the Class C Interest Distribution Amount (plus any Class C Defaulted Interest Amount) due on the applicable Redemption Date; and
Class C Notes. In respect of the Class C Notes, the Master Issuer Trust Deed provides that, subject to CONDITION 11.2:
(i) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the Holders of one class only of the Class C Notes shall be deemed to have been duly passed if passed at a meeting of that class of the Holders of that class of the Class C Notes;
(ii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the Holders of any two or more classes of the Class C Notes but does not give rise to a conflict of interest between the Holders of any such two or more Classes of Class C Notes, shall be deemed to have been duly passed if passed at a single meeting of the Holders of such two or more Classes of Class C Notes; and
(iii) a resolution which, in the sole opinion of the Note Trustee, affects the interests of the Holders of any two or more classes of the Class C Notes and gives or may give rise to a conflict of interest between the Holders of any such two or more Classes of Class C Notes, shall be deemed to have been duly passed only if, in lieu of being passed at a single meeting of the Holders of such two or more Classes of Class C Notes, it shall be passed at separate meetings of the Holders of each of such two or more Classes of Class C Notes.
Class C Notes. On each Payment Date, (i) to the extent that any Class C Monthly Interest Shortfall exists after the deposits required pursuant to Section 4.8(c) of this Supplement, and if and only if an Insolvency Period shall be continuing, the Master Servicer shall instruct the Trustee or Paying Agent to withdraw from funds on deposit in the Series 1999-1 Cash Liquidity Account an amount equal to the lesser of (A) the amount of such Class C Monthly Interest Shortfall and (B) the amount on deposit in the Series 1999-1 Cash Liquidity Account (after giving effect to any withdrawals therefrom required on such Payment Date by Sections 4.24(a), 4.8(f), 4.9(a)(i) and 4.9(b)(i)), and deposit such amount in the Class C Distribution Account to pay the Class C Interest Amount and any unpaid Class C Deficiency Amounts with respect to such Payment Date (together with accrued interest on all unpaid Class C Deficiency Amounts),(ii) to the extent any Class C Monthly Interest Shortfall exists after the deposits required pursuant to Section 4.8(c) and, if applicable, Section 4.9(c)(i) of this Supplement have been made, the Master Servicer shall instruct the Trustee or the Paying Agent to withdraw from funds on deposit in the Series 1999-1 Excess Funding Account an amount equal to the least of (A) the amount on deposit in the Series 1999-1 Excess Funding Account on such Payment Date (after application of any amounts pursuant to Sections 4.9(a) and (b) of this Supplement), (B) the Series 1999-1 Available Subordinated Amount at such time (after application of any amounts pursuant to Sections 4.9(a) and (b) of this Supplement), and (C) the amount of the Class C Monthly Interest Shortfall, and deposit such amount in the Class C Distribution Account to pay the Class C Interest Amount and any unpaid Class C Deficiency Amounts with respect to such Payment Date (together with accrued interest on all such unpaid Class C Deficiency Amounts) and (iii) to the extent any such Class C Monthly Interest Shortfall remains after the deposits required pursuant to Section 4.9(c)(i) (if applicable) and Section 4.9(c)(ii) of this Supplement have been made, if amounts have been drawn on the Series 1999-1 Letter of Credit and deposited into the Series 1999-1 Collection Account pursuant to Section 4.18 of this Supplement, the Master Servicer shall instruct the Trustee or the Paying Agent to withdraw from the Series 1999-1 Collection Account on such Payment Date the lesser of (A) the amount on deposit in the Seri...
Class C Notes. In consideration for arranging the transactions contemplated by the Basic Documents, on the Closing Date, the Issuer shall deliver the Class C Notes to or at the direction of Deutsche Bank Securities Inc.
Class C Notes. The 1.40% Asset Backed Notes, Class C in the initial aggregate principal balance of $25,190,000 issued pursuant to the Indenture.
Class C Notes. On the terms and conditions set forth in this Series 2013-B Supplement, HVF II shall issue, and shall cause the Trustee to authenticate, the initial Class C Notes on the Series 2013-B Restatement Effective Date. Such Class C Notes for each Class C Investor Group shall:
A. bear a face amount as of the Series 2013-B Restatement Effective Date of up to the sum of (i) the Class C Maximum Investor Group Principal Amount with respect to such Class C Investor Group and (ii) the “Class C Maximum Investor Group Principal Amount” (under and as defined in the Series 2013-A Supplement) with respect to such Class C Investor Group (in its capacity as a “Class C Investor Group” under and as defined in the Series 2013-A Supplement), B. have an initial principal amount equal to the Class C Initial Investor Group Principal Amount with respect to such Class C Investor Group, C. be dated the Series 2013-B Restatement Effective Date, D. be registered in the name of the related Class C Funding Agent or its nominee, as agent for the related Class C Conduit Investor, if any, and the related Class C Committed Note Purchaser, or in such other name as the related Class C Funding Agent may request,
Class C Notes. On the terms and conditions set forth in this Series 2013-A Supplement, HVF II shall issue, and shall cause the Trustee to authenticate, the initial Class C Note on the Series 2013-A Restatement Effective Date. Such Class C Note for the Class C Committed Note Purchaser shall:
A. bear a face amount as of the Series 2013-A Restatement Effective Date of $250,000,000, B. have an initial principal amount equal to the Class C Initial Principal Amount, C. be dated the Series 2013-A Restatement Effective Date, D. be registered in the name of the Class C Committed Note Purchaser or its nominee,
Class C Notes. On the terms and conditions set forth in this Series 2013-A Supplement, HVF II shall issue, and shall cause the Trustee to authenticate, a Class C Note on the Sixth Restatement Effective Date with respect to each of the Truist Class C Investor Group and the JPMorgan Class C Investor Group. Each such Class C Note for each such Class C Investor Group shall:
A. bear a face amount as of the Sixth Restatement Effective Date of up to the Class C Maximum Investor Group Principal Amount with respect to such Class C Investor Group, B. have an initial principal amount equal to the Class C Initial Investor Group Principal Amount with respect to such Class C Investor Group, C. be dated the Sixth Restatement Effective Date, D. be registered in the name of the respective Class C Funding Agent or its nominee, as agent for the related Class C Conduit Investor, if any, and the related Class C Committed Note Purchaser, or in such other name as the respective Class C Funding Agent may request in writing,
Class C Notes. On each Distribution Date for the Class C Notes, the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay to the Class C Noteholders from the Series 2002-2 Distribution Account the amount deposited in the Series 2002-2 Distribution Account for the payment of interest pursuant to SECTIONS 3.3(B)(III), (D), (E) and (F) of this Series Supplement.