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 2023-8 Collection Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2023-8 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 2023-8 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 2023-8 Controlled Amortization Period or to the extent necessary to pay the Class C Invested Amount during the Series 2023-8 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. (i) Commencing on the second Determination Date after the commencement of the Class C Controlled Amortization Period, or the first Determination Date after the commencement of the Series 1999-1 Rapid Amortization Period, (provided that the Class A Notes and the Class B Notes shall have then been paid in full), the Servicer shall instruct the Trustee or the Paying Agent as to the following:
(A) the Class C Controlled Distribution Amount for the Related Month, (B) the amount allocated to the Class C Notes during the Related Month pursuant to Section 4.7(b)(i)(2) or 4.7(c)(i)(2) of this Supplement, as applicable, and (C) the amount, if any, by which the amount in clause (A) above exceeds the amount in clause (B) above (the amount of such excess, the "Class C Controlled Distribution Amount Deficiency"); and
(ii) Commencing on the second Payment Date after the commencement of the Class C Controlled Amortization Period, the Trustee shall, subject to Section 4.16 of this Supplement, (1) withdraw from the Series 1999-1 Collection Account an amount equal to the lesser of the amounts specified in clauses (A) and (B) of Section 4.10(c)(i) of this Supplement, (2) to the extent any Class C Controlled Distribution Amount Deficiency remains after application of the amounts specified in clause (1) of this subsection, the Master Servicer shall instruct the Trustee or the Paying Agent to withdraw, from funds on deposit in the Excess Funding Accounts, for the other Group I Series of Notes, if any, an amount equal to the lesser of (x) the aggregate amount on deposit in such Excess Funding Accounts on such Payment Date (after application of any such amounts to pay principal and interest in respect of the related Series of Notes pursuant to the related Series Supplements) in excess of the related Available Subordinated Amounts at such time, and (y) the remaining amount of the Class C Controlled Distribution Amount Deficiency, and deposit such amounts in the Class C Distribution Account to be paid, pro rata, to the Class C Noteholders on account of the Class C Controlled Distribution Amount, provided that any such amounts withdrawn from the Excess Funding Accounts for the other Group I Series of Notes shall be applied on a pro rata basis with respect to each Group I Series of Notes with respect to which a Class C Controlled Distribution Amount Deficiency exists after application of the amounts specified in the corresponding sections of the related Series Supplements, (3) to the ...
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-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 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. A. Not submit more than one Class C Advance Request per calendar month; provided that if such Class C Advance Request is not approved or a portion of the requested Class C Advance is outstanding, HVF III may submit an additional Class C Advance Request to cover such unapproved or unpaid amounts, as applicable; provided further that HVF III may submit more than one Class C Advance Request per month if the aggregate requested amount of the proposed Class C Advances in such month is less than an amount determined on the Class C Notes Closing Date.
B. Not make more than one payment per month to the Class C Investor Group on the principal amount of the Class C Notes; provided that this Clause (B) shall not be applicable for any payments (i) made in connection with any Class C Decreases or decreases in the Class C Maximum Principal Amount or (ii) to any Class C Terminated Purchasers.