Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.
Class A Note Interest Shortfall means, for any Distribution Date, the excess of (x) the Class A Noteholders’ Interest Distribution Amount on the preceding Distribution Date over (y) the amount of interest actually distributed to the Class A Noteholders on the preceding Distribution Date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each such class of Notes from the preceding Distribution Date to the current Distribution Date.
Class A Note Interest Shortfall means, for any Distribution Date, the excess of:
Examples of Class A Note Interest Shortfall in a sentence
Interest accrued as of any distribution date but not paid on that distribution date is due on the next distribution date together with an amount equal to interest on the unpaid amount at the applicable rate per annum specified in the definition of Class A Note Interest Shortfall in the Glossary.
More Definitions of Class A Note Interest Shortfall
Class A Note Interest Shortfall means, with respect to any Payment Date, the sum of (a) the excess, if any, of (i) the Class A Note Interest Requirement for the preceding Payment Date, over (ii) the amount in respect of interest that was actually paid pursuant to subsection 2.4(d) with respect to interest on the Class A Notes for such preceding Payment Date, plus (b) interest on the amount of interest due but not paid to the Class A Noteholders on the preceding Payment Date, to the extent permitted by law, at the Class A Note Interest Rate from and including such preceding Payment Date to but excluding the current Payment Date.
Class A Note Interest Shortfall means, with respect to any Payment Date, the sum of (a) the excess, if any, of (i) the Class A Note Interest Requirement for the preceding Payment Date, over (ii) the amount in respect of interest that was actually paid
Class A Note Interest Shortfall means, for any Quarterly Distribution Date, the sum for all of the Class A Notes of (1) the excess of:
Class A Note Interest Shortfall. ’ means, for any distribution date, the sum, for all of the class A notes with a distribution date on this distribution date, of the excess of:
Class A Note Interest Shortfall means, with respect to any Payment Date, the sum of (a) the excess, if any, of (i) the Class A Note Interest Requirement for the preceding Payment Date, over (ii) the amount in respect of interest that was actually paid pursuant to subsection 2.7(d) with respect to interest on the Class A Notes for such preceding Payment Date, plus (b) interest on the amount of interest due but not paid to the Class A Noteholders on the preceding Payment Date, to the extent permitted by law, at the Class A Note Interest Rate from and including such preceding Payment Date to but excluding the current Payment Date.
Class A Note Interest Shortfall means, for any Quarterly Distribution Date, the sum of (1) the excess of:
Class A Note Interest Shortfall means, with respect to any Distribution Date, the sum for all of the Class A Notes with a Distribution Date on this Distribution Date, of the excess of (i) the amount of interest (excluding Carry-over Amounts) that was payable to each class of Class A Notes (with a Distribution Date on this Distribution Date) on the preceding Distribution Date for the class over (ii) the amount of interest actually distributed with respect to this Class A Note on such preceding Distribution Date, plus interest on the amount of such excess interest due to the Class A Noteholders, to the extent permitted by law, at the interest rate borne by this Class A Note from such preceding Distribution Date to the current Distribution Date.