# Class B Monthly Interest definition

Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).
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).

## Examples of Class B Monthly Interest in a sentence

• Class B Monthly Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.

## 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, with respect to (i) the initial Series 2012-3 Interest Period, an amount equal to \$151,493.33 and (ii) any other Series 2012-3 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 2012-3 Interest Period, after giving effect to any principal payments made on such date.
Class B Monthly Interest shall have the meaning specified in Section 4.02(b).
Class B Monthly Interest due and payable with respect to the Class B Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is three hundred sixty (360), (ii) the Class B Note Interest Rate in effect with respect to the related Interest Period and (iii) the Class B Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Payment Date, the Class B Note Initial Principal Balance).
Class B Monthly Interest is defined in Section 4.1(b).
Class B Monthly Interest means the monthly interest ------------------------ distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.06(b) of the Agreement.
Class B Monthly Interest has the meaning specified in Section 4.02(b).