Carryover Interest definition

Carryover Interest means, with respect to any Distribution Date, the sum of Carryover Class A Interest and Carryover Class B Interest.

Carryover Interest means the difference between the interest that would have accrued on a Series of Notes at the Formula Rate during a Collection Period and the interest accrued at the Net Loan Rate during such Collection Period, together with interest thereon at the Formula Rate from the Distribution Date on which such Carryover Interest is due until paid, but in no event greater than the maximum rate permitted by law.

Carryover Interest means, with respect to any Distribution Date, the sum of Class A Carryover Interest and Collateral Carryover Interest.

Examples of Carryover Interest in a sentence

• If notice of redemption of Outstanding Notes has been duly given as hereinbefore provided and if moneys for the payment of the principal of and interest and any unpaid Carryover Interest on such Outstanding Notes are held for the purpose of such payment by the Indenture Trustee, then such Outstanding Notes shall, on the applicable dates on which such redemption will occur, become due and payable, and interest on said Outstanding Notes and on any unpaid Carryover Interest shall cease to accrue.

• Principal of and interest and unpaid Carryover Interest on the Notes shall be paid from the moneys available therefor in the Note Payment Account in the Collection Fund and in the Reserve Fund.

• Each payment of principal and interest and Carryover Interest, if any, on each Note of a Series shall be accompanied by the CUSIP number, if any, of the Note of such Series to which such payment relates.

• The redemption price of the Notes shall, in each case, be par plus (i) accrued interest to the applicable dates on which such redemption will occur and (ii) all unpaid Carryover Interest, if any, thereon.

• Each notice of redemption shall also state that each such Outstanding Note must be surrendered to the Indenture Trustee for payment of the principal of and interest and any unpaid Carryover Interest on such Outstanding Notes.

More Definitions of Carryover Interest

Carryover Interest means, for any Distribution Date, an amount equal to the sum of (i) the amount of any VBC Monthly Interest previously due but not distributed on the Variable Base Certificates on or before the prior Distribution Date, together with (ii) to the extent permitted under applicable law, unpaid interest accrued on the amount described in clause (i) during or prior to the related Interest Period at the applicable VBC Interest Rate plus 0.50% per annum.

Carryover Interest means, with respect to any Distribution Date, (a) any Monthly Interest due but not paid to the Collateral Certificateholder on any previous Distribution Date plus (b) any Additional Interest due with respect to such Distribution Date.

Carryover Interest means, with respect to any Distribution Date, (a) any Monthly Interest due but not paid to the Noteholders on any previous Distribution Date plus (b) any Additional Interest due with respect to such Distribution Date.

Carryover Interest. On each Determination Date, the Servicer will calculate the amount of Carryover Commitment, Breakage and Administrative Fees that will have accrued during the related Interest Period based on the definition of "Carryover Commitment, Breakage and Administrative Fees".

Carryover Interest means the sum of (a) any Class A-1 Carryover Interest and (b) any Class A-2 Carryover Interest.

Carryover Interest means the sum of (a) any Interest Shortfall remaining unpaid plus (b) any Additional Interest.

Carryover Interest means the difference between the interest that would accrue on any Class of Notes or Certificates at the Formula Rate and the interest that accrues at the Net Loan Rate, together with interest thereon at the Formula Rate from the Payment Date or Quarterly Payment Date on which it is due until paid.