Accrued Note Interest definition
Examples of Accrued Note Interest in a sentence
The failure to pay Accrued Note Interest on the Class X Notes, shall not constitute an Event of Default under the Indenture.
In addition, the amount of any interest shortfalls will constitute unpaid Accrued Note Interest and will be distributable to holders of the Notes of the related Classes entitled to such amounts on subsequent Payment Dates, to the extent of the applicable Available Funds after current interest distributions as required herein.
Holders of such Notes will not be entitled to any payments in respect of Accrued Note Interest on the amount of such increases for any Interest Accrual Period preceding the Payment Date on which such increase occurs.
Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, whenever capitalized shall have the following meanings: "Accrued Note Interest" shall mean, with respect to any Payment Date and each Class of Notes, the sum of the Monthly Accrued Note Interest and the Interest Carryover Shortfall for such Class for such Payment Date.
The interest portion of Excess Loss Amounts will be allocated to the Notes and the B Component as described in the definitions of Accrued Note Interest and Accrued Component Interest set forth in Appendix A to this Indenture.