Class A-1b Notes definition

Class A-1b Notes. The Floating Rate Asset Backed Notes, Class A-1b in the initial aggregate principal balance of $131,000,000 issued pursuant to the Indenture.

Class A-1b Notes means the $175,000,000 Class A-1b Compounded SOFR (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.85% Asset Backed Notes issued by the Trust, substantially in the form of Exhibit A to this Indenture.

Class A-1b Notes means the $200,000,000 Class X-0x Xxx-Xxxxx XXXXX + 0.24% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.

Examples of Class A-1b Notes in a sentence

• Due to an administrative error, the Authority failed to pay principal due on the Class A-1B Notes on the November 2021 and December 2021 Monthly Distribution Dates because the Principal Distribution Amount was not correctly allocated between Class A-1A Notes and Class A-1B Notes.

• The terms of the Class A-1A Notes set forth in Exhibit A-1 hereto, the terms of the Class A-1B Notes set forth in Exhibit A-2 hereto and the terms of the Class B Notes set forth in Exhibit B hereto are part of the terms of this Indenture, which terms may be amended in connection with a Benchmark Transition Event or a LIBOR Related Amendment.

• In addition, the Class A-1A Notes, the Class A-1B Notes, the Class A-2A Notes, the Class A-2B Notes, the Class B Notes and the Class C Notes may not be redeemed in part from Refinancing Proceeds.

• The aggregate outstanding amount of the Class A-1B Notes may be increased up to $50,000,000 upon a conversion of the Class A-1 Loans in accordance with the Indenture.

• In such circumstances, the Controlling Class, which in these circumstances will be the Class A-1A Noteholders and the Class A-1B Noteholders or, following redemption and repayment of the Class A-1A Notes and the Class A-1B Notes in full, the Class A-2A Noteholders and the Class A-2B Noteholders, acting by Ordinary Resolution, may request the Trustee to accelerate the Notes pursuant to Condition 10 (Events of Default).

More Definitions of Class A-1b Notes

Class A-1b Notes means the $100,000,000 Class A-1b One-Month LIBOR (or, upon the occurrence of a Benchmark Transition Event, the appropriate Benchmark Replacement) + 0.27% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.

Class A-1b Notes has the meaning set forth in the first recital.

Class A-1b Notes means the $[__] Class A-1b [One-Month LIBOR] [+][-] [__]% Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.]

Class A-1b Notes. The Class A-1B Notes due October 25, 2035 issued under this Indenture in the original aggregate principal amount set forth in Section 2.02.

Class A-1b Notes means the $ Class A-1b Floating Rate Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit A to the Indenture.]

Class A-1b Notes means the $178,000,000 Taxable Student Loan Asset-Backed Notes, Senior Series 2021-3A-1B issued by the Authority pursuant to this Indenture, substantially in the form of Exhibit A-2 hereto.

Class A-1b Notes. The Floating Rate Asset Backed Notes, Class A-1b in the initial aggregate principal balance of $171,000,000 issued pursuant to the Indenture. Class A-2 Notes: The 0.96% Asset Backed Notes, Class A-2 in the initial aggregate principal balance of $300,000,000 issued pursuant to the Indenture. Class A-3 Notes: The 1.32% Asset Backed Notes, Class A-3 in the initial aggregate principal balance of $338,000,000 issued pursuant to the Indenture. Class A-4 Notes: The 1.69% Asset Backed Notes, Class A-4 in the initial aggregate principal balance of $92,400,000 issued pursuant to the Indenture.