Class B Default Interest definition

Class B Default Interest shall have the meaning specified in ------------------------ subsection 4.06(b) of the Agreement.
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Class B Default Interest is defined in subsection 4.02(b).
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Examples of Class B Default Interest in a sentence

  • Notwithstanding anything to the contrary herein, Class B Default Interest shall be payable or distributed to Class B Certificateholders only to the extent permitted by applicable law.

  • Notwithstanding anything to the contrary herein, Class B Default Interest shall be payable or distributed to the Class B Noteholders only to the extent permitted by applicable law.

  • Notwithstanding anything to the contrary herein, Class B Default Interest shall be pay- able or distributed to Class B Certificateholders only to the extent permitted by applicable law.

  • Pursuant to subsection 4.04(a)(ii): Class B Monthly Interest Payment for the preceding Interest Period.................................$____________ Class B Interest Shortfall due to Class B Noteholders.......................................$____________ Class B Default Interest for such Distribution Date.........................................$____________ Class B Default Interest previously due but not distributed to Class B Noteholders....................$____________ C.

  • Notwithstanding anything to the contrary herein, Class B Default Interest shall be payable or distributed to Class B Noteholders only to the extent permitted by applicable law.

Related to Class B Default Interest

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.