Class B 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 B 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 B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.
Class B Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class B Monthly Interest Distributable Amount and the Class B Interest Carryover Shortfall for such Payment Date.
Class B Interest Distributable Amount means, with respect to any Distribution Date, interest accrued from and including the 15th day of the prior month (or, in the case of the first Distribution Date, the Closing Date) to, but excluding the 15th day of the month in which such Distribution Date occurs, at the Class B Note Rate on the Class B Note Balance immediately prior to such Distribution Date. Interest on the Class B Notes shall be due and payable on each Distribution Date and shall be computed on the basis of a 360-day year consisting of twelve 30-day months.
Examples of Class B Interest Distributable Amount in a sentence
S-44 Class B Interest Distributable Amount .........................
More Definitions of Class B Interest Distributable Amount
Class B Interest Distributable Amount means, with respect to any Distribution Date, the product of one-twelfth of the Class B Pass Through Rate and the Class B Certificate Balance as of the immediately preceding Distribution Date (after giving effect to distributions of principal made on such immediately preceding Distribution Date) or, in the case of the first Distribution Date, the Original Class B Certificate Balance.
Class B Interest Distributable Amount means, with respect to any Distribution Date, the sum of (a) thirty (30) days of interest or, in the case of the initial Distribution Date, the number of days in the related Collection Period, at the Class B Pass-Through Rate on the Class B Certificate Balance as of the close of business on the last day of the related Collection Period, calculated on the basis of a 360-day year consisting of twelve 30-day months, and (b) the Class B Interest Carryover Shortfall, if any, for the preceding Distribution Date.
Class B Interest Distributable Amount means, with respect to any Distribution Date, the sum of the Class [B] Monthly Interest Distributable Amount for such Distribution Date and the Class [B] Interest Carryover Shortfall for such Distribution Date. Unless otherwise specified in this Agreement, interest with respect to the Class [B] Certificates shall be computed on the basis of a 360-day year consisting of twelve 30-day months.
Class B Interest Distributable Amount means, for any Distribution Date, an amount equal to thirty (30) days of interest at the Class B Pass-Through Rate on the Class B Certificate Balance as of the close of business on the last day of the related Collection Period (calculated on the basis of a 360-day year consisting of twelve 30-day months).
Class B Interest Distributable Amount means, with respect to any Payment Date (other than the first Payment Date), the sum of (i) the product of (A) one-twelfth (or, with respect to the first Payment Date, a fraction the numerator of which equals the number of days from and including the Closing Date to but excluding the first Payment Date and the denominator of which equals 360) of the Class B Pass-Through Rate and (B) the Class B Certificate Balance as of the immediately preceding Payment Date (after giving effect to distributions of principal made on such immediately preceding Payment Date) or, in the case of the first Payment Date, the Class B Initial Certificate Balance plus (ii) the Class B Interest Carryover Shortfall for such Payment Date.
Class B Interest Distributable Amount means, with respect to any Distribution Date, the product of one-twelfth of the Pass-Through Rate and the Class B Certificate Balance as of the immediately preceding Distribution Date (after giving effect to distributions of principal made on such immediately preceding Distribution Date) or, in the case of the first Distribution Date, the Original Class B Certificate Balance.
Class B Interest Distributable Amount. With respect to any Distribution Date, the sum of (i) thirty (30) days of interest calculated on the basis of a 360-day year consisting of twelve 30-day months, at the Class B Pass-Through Rate on the Class B Certificate Balance as of the close of business on the last day of the preceding Collection Period and (ii) any outstanding Class B Interest Carryover Shortfall.