Adjusted Note Balance definition

Adjusted Note Balance. Any of the Class M-1 Adjusted Note Balance, Class M-2 Adjusted Note Balance or Class B-1 Adjusted Note Balance or the Class B-2 Adjusted Note Balance.

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Adjusted Note Balance shall equal, for any Class of Notes, the Outstanding Note Balance of such Class of Notes immediately prior to such Payment Date, less any Note Balance Write-Down Amounts previously applied in respect of such Class of Notes; provided, however, to the extent that for purposes of consents, approvals, voting or other similar act of the Noteholders under any of the Transaction Documents, "Adjusted Note Balance" shall exclude Notes which are held by Bluegreen or any Affiliate thereof.

Adjusted Note Balance means, as of any date of determination and for any Series, the excess of (i) aggregate principal balance of all outstanding Notes of such Series other than Risk Retention Retained Notes over (ii) the product of (x) a fraction, expressed as a percentage, the numerator of which is the aggregate principal balance of all outstanding Notes of such Series other than Risk Retention Retained Notes and the denominator of which is the aggregate principal balance of all outstanding Notes of such Series (including any Risk Retention Retained Notes) and (y) the amount on deposit in the Accumulation Account for such Series (excluding any investment earnings on deposit therein), in each case, as of such date of determination.

Examples of Adjusted Note Balance in a sentence

Except as may otherwise be provided in this Indenture, until such time as the conditions specified in Sections 11.1(a)(i) and (ii) hereof have been satisfied in full, the Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee, or exercising any trust or power conferred on the Indenture Trustee, with respect to the Notes.
Unless otherwise provided herein, the Indenture Trustee may consent to any requests received under such documents or, at its option, follow the directions of Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes within 30 days after prior written notice to the Noteholders.
The Indenture Trustee shall then take such action as so directed by the Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes then Outstanding subject to the provisions of this Indenture.
The Indenture Trustee shall be entitled to renegotiate the Servicing Fee; provided, however, no change to the Servicing Fee may be made unless the Indenture Trustee shall have received the written consent of Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes.
The Note Balance Write-Down Amount, if any, on each Payment Date shall only be applied to the Adjusted Note Balance of the Class B Notes immediately following the distribution of Available Funds until the Adjusted Note Balance of the Class B Notes is reduced to zero.
If it removes the Indenture Trustee under the authority of the immediately preceding sentence, the Issuer shall promptly appoint a successor Indenture Trustee not objected to by Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes, within 30 days after prior written notice, by written instrument, with a copy delivered to each of the Issuer, the Servicer, the Noteholders, each Rating Agency, the successor Indenture Trustee and the predecessor Indenture Trustee.
Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor Indenture Trustee not objected to by Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes within 30 days after prior written notice, by written instrument, in sextuplicate, one counterpart of which instrument shall be delivered to each of the Issuer, the Servicer, each Rating Agency, the Noteholders, the successor Indenture Trustee and the predecessor Indenture Trustee.
The Indenture Trustee shall then take such action as so directed by the Holders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes then Outstanding subject to the provisions of this Indenture.
Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor Indenture Trustee not objected to by Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes within 30 days after prior written notice, by written instrument, in sextuplicate, one counterpart of which instrument shall be delivered to each of the Issuer, the Servicer, the Rating Agency, the Noteholders, the successor Indenture Trustee and the predecessor Indenture Trustee.
In the event of a termination of the Backup Servicing Agreement, the Indenture Trustee, at the written direction of Noteholders representing at least 66-2/3% of the Adjusted Note Balance of each Class of Notes, shall appoint a successor Backup Servicer reasonably acceptable to the Indenture Trustee.

More Definitions of Adjusted Note Balance

Adjusted Note Balance means the outstanding principal amount of the Adjustable Rate Senior Notes of the Company due April 28, 2012 (the “Notes”) immediately following the debt restructuring contemplated herein (i.e. $186,000,000) reduced by (i) all principal repaid on the Notes through April 28, 2012 or, if the Notes are refinanced prior to such date (the “Note Refinancing Date”) the principal balance repaid on or prior to, but not including, any amount repaid on the Note Refinancing Date and further reduced by (ii) the cumulative Free Cash Flow of the Company from the Note Refinancing Date to the date of the Herald Notice (the “Free Cash Flow Adjustment”).

Adjusted Note Balance means, at any time, the aggregate amount remaining due to Seller under the ▇▇▇▇▇▇▇ Note, after giving effect to the application of any Note Guaranty Payments to the reduction of the principal outstanding under the ▇▇▇▇▇▇▇ Note, whether or not such Note Guaranty Payments were actually paid to Seller from the Collateral Account or continue to be held in the Collateral Account as provided herein.