Class A Note Balance definition

Class A Note Balance means, at any time, the sum of the Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time.

Class A Note Balance as of any date of determination, means the aggregate of the outstanding principal balances of the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes and Class A-4 Notes.

Class A Note Balance equals, initially, $100,000,000 and thereafter equals the initial Class A Note Balance reduced by all amounts allocable to principal previously distributed to Class A Noteholders.

Examples of Class A Note Balance in a sentence

• Following the payment in full of the Class A Note Balance, the Class B Note Balance and of all other amounts owing or to be distributed hereunder or under the Indenture or the Trust Agreement to Noteholders, as directed in writing by the Servicer, the Indenture Trustee shall release to the Seller any amounts remaining on deposit in the Reserve Account.

• In addition, if the Back-up Servicer shall be legally unable to act as Servicer or shall have delivered a notice of resignation pursuant to Section 8.5 hereof and a Note Insurer Default shall have occurred and be continuing, the Back-up Servicer, the Trust Collateral Agent or the Class A Noteholders evidencing not less than 66-2/3% of the Class A Note Balance or the Class C Certificateholder may petition a court of competent jurisdiction to appoint any successor to the Servicer.

• The Outstanding Note Balance of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes shall not exceed the Maximum Outstanding Class A Note Balance, the Maximum Outstanding Class B Note Balance, the Maximum Outstanding Class C Note Balance, the Maximum Outstanding Class D Note Balance and the Maximum Outstanding Class E Note Balance, respectively.

• In addition, if the Back-up Servicer shall be legally unable to act as Servicer or shall have delivered a notice of resignation pursuant to Section 8.5 hereof and a Note Insurer Default shall have occurred and be continuing, the Back-up Servicer, the Trust Collateral Agent or the Class A Noteholders evidencing not less than 66-2/3% of the Class A Note Balance or the Demand Note Provider may petition a court of competent jurisdiction to appoint any successor to the Servicer.

• Following the payment in full of the Class A Note Balance and of all other amounts owing or to be distributed hereunder or under the Indenture or the Trust Agreement to Noteholders, as directed in writing by the Servicer, the Indenture Trustee will release to the Seller any amounts remaining on deposit in the Reserve Account.

More Definitions of Class A Note Balance

Class A Note Balance on the Closing Date will equal the Original Class A Note Balance and on any date thereafter will equal the Original Class A Note Balance reduced by all distributions of principal previously made in respect of the Class A Notes.

Class A Note Balance means the sum of the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance.

Class A Note Balance shall initially mean $657,510,000, and thereafter, shall equal the initial Class A Note Balance reduced by all previous payments to the Class A Noteholders in respect of the principal of the Class A Notes that have not been rescinded.

Class A Note Balance means, as of the Closing Date,$257,425,000 and thereafter shall equal the Class A Note Balance as of the Closing Date reduced by all principal payments on all of the Class A Notes.

Class A Note Balance means initially, the Initial Class A Note Balance and, thereafter, the Initial Class A Note Balance, reduced by all amounts previously distributed to Class A Noteholders and allocable to principal.

Class A Note Balance. At any time, as the context may require, (i) with respect to all of the Class A Notes, an amount equal to, initially, the Initial Class A Note Balance and, thereafter, an amount equal to the Initial Class A Note Balance as reduced from time to time by all amounts allocable to principal previously distributed to the Class A Noteholders or (ii) with respect to any Class A Note, an amount equal to, initially, the initial denomination of such Class A Note and, thereafter, an amount equal to such initial denomination as reduced from time to time by all amounts allocable to principal previously distributed in respect of such Class A Note; provided, however, that in determining whether the Holders of Class A Notes evidencing the requisite percentage of the Class A Note Balance have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any other Transaction Document, Class A Notes owned by the Trust, any other obligor upon the Class A Notes, the Depositor, the Servicer or any Affiliate of any of the foregoing Persons shall be disregarded and deemed to be excluded from the Class A Note Balance (unless such Persons own 100% of the Class A Note Balance), except that, in determining whether the Indenture Trustee or the Owner Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Class A Notes that a Responsible Officer of the Indenture Trustee or the Owner Trustee, as applicable, actually knows to be so owned shall be so disregarded; and, provided further, that Class A Notes that, to the actual knowledge of a Responsible Officer of the Indenture Trustee or the Owner Trustee, as applicable, have been pledged in good faith may be regarded as included in the Class A Note Balance if the pledgee establishes to the satisfaction of the Indenture Trustee or the Owner Trustee, as applicable, the pledgee’s right so to act with respect to such Class A Notes and that the pledgee is not the Trust, any other obligor upon the Class A Notes, the Depositor, the Servicer or any Affiliate of any of the foregoing Persons.

Class A Note Balance means, at any time, the Initial Class A Note Balance reduced by all payments of principal made prior to such time on the Class A Notes. “ Class A Noteholder ” means the Person in whose name a Class A Note is registered on the Note Register. “ Class A Noteholders’ Interest Carryover Shortfall ” means, with respect to any Payment Date, the excess, if any, of (A) the sum of (i) the Class A Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class A Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over (B) the amount in respect of interest that was actually paid to Noteholders of Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class A Notes on such preceding Payment Date, to the extent permitted by law, at the Class A Interest Rate for the related Interest Period . “ Class A Noteholders’ Monthly Accrued Interest ” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A Notes at the Class A Interest Rate on the Class A Note Balance on the Closing Date, with respect to the first Payment Date, and on the immediately preceding Payment Date, after giving effect to all payments of principal to the Class A Noteholders on or prior to such preceding Payment Date, with respect to each subsequent Payment Date . “ Class A Notes ” means the Class of Auto Loan Asset Backed Notes designated as Class A Notes issued in accordance with the Indenture. “ Class B Final Scheduled Payment Date ” means the Payment Date occurring in January 2031. “ Class B Interest Rate ” means 11.40% per annum (computed on the basis of a 360 - day year consisting of twelve 30 - day months). “ Class B Note Balance ” means, at any time, the Initial Class B Note Balance reduced by all payments of principal made prior to such time on the Class B Notes. “ Class B Noteholder ” means the Person in whose name a Class B Note is registered on the Note Register. “ Class B Noteholders’ Interest Carryover Shortfall ” means, with respect to any Payment Date, the excess, if any, of (A) the sum of (i) the Class B Noteholders’ Monthly Accrued Interest