Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.
Certificate Interest means interest payable in respect of the Investor Certificates of any Series pursuant to Article IV of the Supplement for such Series.
Certificate Interest means, for any Class for any Interest Payment Date, the product of (a) the Class Invested Amount for such Class for such Interest Payment Date and (b) a fraction the numerator of which is (1) with respect to each Class that has no Subclasses, the Certificate Rate for such Class or (2) with respect to each Class that has two or more Subclasses, the Class Weighted Average Certificate Rate, and the denominator of which is (x) if the relevant Certificate Rate is to be calculated on the basis of the actual number of days elapsed and a 360-day year, 360 divided by the actual number of days from and including the immediately preceding Interest Payment Date (or, in the case of the first Interest Payment Date, from and including the Series Closing Date) to but excluding the current Interest Payment Date or (y) if the relevant Certificate Rate is to be calculated on the basis of a 360-day year of twelve 30-day months, twelve divided by the number of Distribution Dates from and including the preceding Interest Payment Date to but excluding the current Interest Payment Date (or, in the case of the first Interest Payment Date, 360 divided by the number of days from and including the Series Closing Date to but excluding the 15th day of the month in which current Interest Payment Date occurs, assuming 30-day months).
Examples of Certificate Interest in a sentence
Except as expressly provided herein, any action that may be taken by the Certificateholders under this Agreement shall be taken by the Holders of Certificates evidencing not less than a majority of the Certificate Interest (the “Majority Certificateholders”).
More Definitions of Certificate Interest
Certificate Interest has the meaning given to such term in the Trust Agreement.
Certificate Interest. For each Class of Certificates, on each Distribution Date, an amount equal to the product of (a) the Certificate Rate for such Class, (b) a fraction, the numerator of which is 30 and the denominator of which is 360, and (c) the applicable Class Principal Balance or, in the case of the Interest Only Certificates, the applicable Notional Amount.
Certificate Interest means, with respect to a Trust Certificate, the percentage specified on such Trust Certificate as the Certificate Interest, which percentage represents the beneficial interest of such Trust Certificate in the Trust. The initial Certificate Interest held by the Trust Depositor shall be 100%.
Certificate Interest for any Class shall mean, for any Distribution Date, the product of (a) the Class Invested Amount for such Class for such Distribution Date and (b) a fraction the numerator of which is (1) with respect to each Class that has no Subclasses, the Certificate Rate for such Class or (2) with respect to each Class that has two or more Subclasses, the Class Weighted Average Certificate Rate, and the denominator (which may be calculated separately for each Subclass pursuant to subsection (x) or (y)) of which is (x) if the relevant Certificate Rate is to be calculated on the basis of the actual number of days elapsed and a 360-day year, 360 divided by the actual number of days from and including the immediately preceding Distribution Date (or, in the case of the first Distribution Date, 360 divided by the number of days from and including the Series Closing Date to but excluding such Distribution Date (and assuming a 30-day month)) to but excluding the current Distribution Date or (y) if the relevant Certificate Rate is to be calculated on the basis of a 360-day year of twelve 30-day months, twelve (or, in the case of the first Distribution Date, 360 divided by the number of days from and including the Series Closing Date to but excluding such Distribution Date (and assuming a 30-day month)).
Certificate Interest means, for any Class for any Interest Payment Date, the product of (a) the Class Invested Amount for such Class for such Interest Payment Date and (b) a fraction the numerator of which is (1) with respect to each Class that has no Subclasses, the Certificate Rate for such Class or (2) with respect to each Class that has two or more Subclasses, the Class Weighted Average Certificate Rate, and the denominator of which is (x) if the relevant Certificate Rate is to be calculated on the basis of the actual number of days elapsed and a 360-day year, 360 divided by the actual number of days from and including the immediately preceding Interest Payment Date (or, in the case of the first Interest Payment Date, from and including the Series Closing Date) to but excluding the current Interest Payment Date or (y) if the relevant Certificate Rate is to be calculated on the basis of a 360-day year of twelve 30-day months, twelve divided by the number of Distribution Dates from and including the preceding Interest Payment Date to but excluding the current Interest Payment Date (or, in the case of the first Interest Payment Date, 360 divided by the number of days from and including the Series Closing Date to but excluding the 15th day of the month in which current Interest Payment Date occurs, assuming 30-day months); provided, that, if an increase in the Series Investor Interest has been made pursuant to Section 31 on or prior to such Interest Payment Date but during the calendar month in which such Interest Payment Date occurred, the Class Invested Amount for each Class for such Interest Payment Date shall be deemed to exclude the portion of the Class Invested Amount represented by Investor Certificates issued in connection with such increase and such Investor Certificates shall only bear interest from such Interest Payment Date; and provided, further, that if an increase in the Series Investor Interest has been made pursuant to Section 31 during the related Interest Accrual Period but prior to the calendar month in which such Interest Payment Date occurred, any Investor Certificates so issued shall bear interest from the prior Interest Payment Date (or, in the case of the first Interest Payment Date, from the Series Closing Date).
Certificate Interest means, with respect to a Trust Certificate, the percentage specified on such Trust Certificate as the Certificate Interest, which represents the beneficial equity interest in the Trust. The initial Certificate Interest held by Harley-Davidson Credit shall be 100%.
Certificate Interest with respect to any Class of any Series shall have the meaning specified in the applicable Series Supplement.