Class A-3 Overdue Interest definition

Class A-3 Overdue Interest means, for any Payment Date, the excess, if any, of (a) the aggregate amount of Class A-3 Monthly Interest payable on all prior Payment Dates over (b) the aggregate amount of interest actually paid to the Class A-3 Noteholders on all prior Payment Dates.
Sample 1Sample 2Sample 3
Class A-3 Overdue Interest. With respect to any Payment Date, the sum of:
Sample 1Sample 2Sample 3
Class A-3 Overdue Interest means, with respect to any Payment Date, the difference, if any, between (a) the amount of Class A-3 Note Interest due on the prior Payment Date and (b) the amount of Class A-3 Note Interest (from whatever source) actually paid to Class A-3 Noteholders on the prior Payment Date, plus (to the extent permitted by law) interest on any shortfall in the payment of interest on the prior Payment Date at the Class A-3 Interest Rate from and including the prior Payment Date through the day immediately preceding the Payment Date of such calculation.
Sample 1Sample 2Sample 3

More Definitions of Class A-3 Overdue Interest

Class A-3 Overdue Interest means, with respect to any Payment Date, the difference between (a) the sum of (i) the excess, if any, of any Class A-3 Note Interest due on the
Sample 1
Class A-3 Overdue Interest means, with respect to any Payment Date, the sum of (a) the positive difference, if any, between (i) the amount of Class A-3 Note Interest due on the immediately preceding Payment Date and (ii) the amount of Class A-3 Note Interest actually paid to Holders (from Available Funds, without giving effect to any draws under the Class A Note Policy) on such immediately preceding Payment Date, plus (b) (to the extent permitted by law) interest on any such shortfall at the Overdue Rate from and including the immediately preceding Payment Date through the day immediately preceding the Payment Date of such calculation.
Sample 1
Class A-3 Overdue Interest means, with respect to any Payment Date, the difference between (a) the sum of (i) the excess, if any, of any Class A-3 Note Interest due on the immediately preceding Payment Date over the Class A-3 Note Interest paid on such immediately preceding Payment Date, (ii) without duplication of the amount described in clause (i), the amount of the Class A-3 Overdue Interest due and unpaid as of the immediately preceding Payment Date and (iii) the product of (x) the sum of clauses (i) and (ii) and (y) one-twelfth of the sum of the Class A-3 Note Rate plus 1%, and (b) any Class A-3 Overdue Interest paid on such Payment Date.
Sample 1

Related to Class A-3 Overdue Interest

  • Class A-3 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-2 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Rate means 5.604% per annum (computed on the basis of the actual number of days elapsed during the relevant Interest Period and a 360‑day year).

  • Class B Rate means 0.00% per annum (computed on the basis of a 360 day year consisting of twelve 30 day months).

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Class C Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class A-3 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A‑3 Interest Distributable Amount for such Payment Date and any outstanding Class A‑3 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A‑3 Interest Carryover Shortfall at the Class A‑3 Rate, to the extent lawful, calculated on the same basis as interest on the Class A‑3 Notes for the same period), over (y) the amount of interest distributed to the Class A‑3 Noteholders on such Payment Date.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A‑4 Interest Distributable Amount for such Payment Date and any outstanding Class A‑4 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A‑4 Interest Carryover Shortfall at the Class A‑4 Rate, to the extent lawful, calculated on the same basis as interest on the Class A‑4 Notes for the same period), over (y) the amount of interest distributed to the Class A‑4 Noteholders on such Payment Date.

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $321,750.00, and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

  • Class A-4 Note Balance means, as of any date, the Initial Class A-4 Note Balance reduced by all payments of principal made on or prior to such date on the Class A-4 Notes.

  • Class A-3 Note Balance means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes.

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class A-2b Rate means, for any Distribution Date and the related Accrual Period, the Benchmark for the related Accrual Period plus 0.07% per annum (subject to any related Benchmark Replacement Adjustment); provided, however, that for any Accrual Period for which the sum of the Benchmark for that Accrual Period plus such applicable spread is less than 0.00%, the Class A-2b Rate for that Accrual Period shall be deemed to be 0.00%.