Class B Monthly Interest definition

Class B 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 B Rate and (B) the outstanding principal balance of the Class B Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class B Notes on or before such preceding Distribution Date).
Class B Monthly Interest means, with respect to (i) the initial Series 2011-5 Interest Period, an amount equal to $265,893.33 and (ii) any other Series 2011-5 Interest Period, an amount equal to the product of (A) one-twelfth of the Class B Note Rate and (B) the Class B Invested Amount on the first day of such Series 2011-5 Interest Period, after giving effect to any principal payments made on such date.

Examples of Class B Monthly Interest in a sentence

The amount of Class B Monthly Interest for such Distribution Date is equal to.

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class B Interest Shortfall”), of (x) the Class B Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class B Monthly Interest on such Distribution Date.

The amount of any Class B Monthly Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date....

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class B Interest Shortfall"), of (x) the Class B Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class B Monthly Interest on such Distribution Date.

The amount of any Class B Monthly Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date.....


More Definitions of Class B Monthly Interest

Class B Monthly Interest means, for any Distribution Date, one-twelfth (or, in the case of the first Distribution Date, the number of days from and including the Closing Date to but excluding the 15th day of the month in which such Distribution Date occurs, assuming each month has 30 days, divided by 360) of the product of (A) the Class B Rate and (B) the outstanding principal balance of the Class B Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class B Notes on or before such preceding Distribution Date).
Class B Monthly Interest means, for any Distribution Date, an amount equal to one-twelfth (or the actual number of days from and including the Closing Date to but excluding __________, 200_ divided by 360, for the initial Distribution Date) of the Class B Certificate Rate multiplied by the Class B Certificate Balance as of the close of business on the immediately preceding Distribution Date, after giving effect to all payments of principal to the Class B Certificates on or prior to such Distribution Date (or, in the case of the first Distribution Date, the Certificate Balance on the Closing Date).
Class B Monthly Interest means, with respect to any Distribution Date, one-twelfth of the Class B Pass-Through Rate multiplied by the Class B Certificate Balance as of the preceding Distribution Date (after giving effect to any distributions made on such Distribution Date) or, in the case of the first Distribution Date, as of the Closing Date.
Class B Monthly Interest means, (i) for the first Payment Date, the product of one-twelfth of the Class B Interest Rate, the number of days from the Closing Date (assuming each month has 30 days) through the day before the first Payment Date divided by 30 and the Initial Class B Note Balance and (ii) for any subsequent Payment Date, the product of one-twelfth of the Class B Interest Rate and the Class B Note Balance as of the immediately preceding Payment Date (after giving effect to any distribution of Monthly Principal made on such immediately preceding Payment Date).
Class B Monthly Interest means the amount of monthly interest distributable from the Collection Account with respect to the Class B Notes on any Distribution Date and which shall be an amount equal to the product of (i) a fraction, the numerator of which is 30, or in the case of the first Interest Period, the actual number of days in such Interest Period, and the denominator of which is 360, (ii) the Class B Note Rate and (iii) the Class B Note Principal Balance as of the close of business of the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class B Note Initial Principal Balance).
Class B Monthly Interest means, with respect to any Series 2002-2 Interest Period, an amount equal to the product of (i) the Class B Note Rate for such Series 2002-2 Interest Period, (ii) the Class B Invested Amount on the first day of such Series 2002-2 Interest Period, after giving effect to any principal payments made on such date, or, in the case of the initial Series 2002-2 Interest Period, the Class B Initial Invested Amount and (iii) a fraction, the numerator of which is the number of days in such Series 2002-2 Interest Period and the denominator of which is 360.