Class B Monthly Interest Distributable Amount means (a) with respect to the first Accrual Period and the related Payment Date, an amount equal to the product of (i) the Class B Interest Rate, (ii) the Initial Class B Principal Amount, and (iii) a fraction equal to the number of days in such Accrual Period divided by 360, and (b) with respect to each subsequent Accrual Period and the related Payment Date, an amount equal to the product of (i) the Class B Interest Rate, (ii) the Principal Amount of the Class B Notes on the immediately preceding Payment Date, after giving effect to all payments of principal to Class B Noteholders on or prior to such immediately preceding Payment Date, and (iii) a fraction equal to one-twelfth.

Class B Monthly Interest Distributable Amount means, with respect to any Distribution Date, interest accrued during the applicable Interest Accrual Period on the Class B Notes at the Class B Rate on the Outstanding Amount of the Class B Notes on the immediately preceding Distribution Date (or, in the case of the first Distribution Date, the Closing Date), after giving effect to all distributions of principal to the Class B Noteholders on or prior to such preceding Distribution Date. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

Class B Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued from and including the 15th day of the preceding calendar month (or, in the case of the first Payment Date, from and including the Closing Date) to and including the 14th day of the calendar month in which such Payment Date occurs, on the Class B Notes at the Class B Rate on the Outstanding Amount of the Class B Notes on the immediately preceding Payment Date (or, in the case of the first Payment Date, the Closing Date), after giving effect to all distributions of principal to the Class B Noteholders on or prior to such preceding Payment Date. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

Examples of Class B Monthly Interest Distributable Amount in a sentence

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More Definitions of Class B Monthly Interest Distributable Amount

Class B Monthly Interest Distributable Amount means, with respect to any Distribution Date, 30 days of interest at the Class [B] Pass-Through Rate on the Class [B] Certificate Balance on the last day of the preceding Collection Period.

Class B Monthly Interest Distributable Amount means, with respect to any Distribution Date, an amount equal to the product of (i) one-twelfth, (ii) the Class B Pass-Through Rate and (iii) the Class B Certificate Balance on the preceding Distribution Date (or, in the case of the first Distribution Date, the Closing Date) after giving effect to (a) any amount distributed to Holders of the Class B Certificates on such preceding Distribution Date and allocable to principal and (b) any Realized Losses allocated to the Class B Certificates on such preceding Distribution Date.

Class B Monthly Interest Distributable Amount means, with respect to any Payment Date other than the first Payment Date, an amount equal to one-twelfth of the product of (i) the Class B Interest Rate and (ii) the Outstanding Principal Amount of the Class B Notes for such Payment Date, and, in the case of the first Payment Date, an amount equal to the product of (i) the Class B Interest Rate, (ii) the Original Principal Amount of the Class B Notes, and (iii) a fraction, the numerator of which is __ and the denominator of which is 360.

Class B Monthly Interest Distributable Amount means, with respect to any Distribution Date, interest accrued from and including the [15th] day of the preceding calendar month (or, in the case of the first Distribution Date, from and including the Closing Date) to and including the [14th] day of the calendar month in which such Distribution Date occurs, on the Class [B] Notes at the Class [B] Rate on the Outstanding Amount of the Class [B] Notes on the immediately preceding Distribution Date (or, in the case of the first Distribution Date, the Closing Date), after giving effect to all distributions of principal to the Class [B] Noteholders on or prior to such preceding Distribution Date. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class [B] Notes shall be computed on the basis of [a 360-day year consisting of twelve 30-day months].

Class B Monthly Interest Distributable Amount means (a) with respect to the first Interest Period and the related Payment Date, an amount equal to the product of (i) the Class B Interest Rate, (ii) the Original Principal Balance of the Class B Notes, and (iii) a fraction equal to 28 divided by 360, and (b) with respect to each subsequent Interest Period and the related Payment Date Payment Date, an amount equal to the product of (i) the Class B Interest Rate, (ii) the Principal Balance of the Class B Notes on the immediately preceding Payment Date, after giving effect to all payments of principal to Class B Noteholders on or prior to such immediately preceding Payment Date, and (iii) a fraction equal to one-twelfth.

Class B Monthly Interest Distributable Amount means, with respect to any Payment Date, an amount equal to one-twelfth of the product of (i) the Class B Interest Rate and (ii) the Principal Balance of the Class B Notes on the immediately preceding Payment Date, after giving effect to all payments of principal to Class B Noteholders on or prior to such immediately preceding Payment Date (or, in the case of the first Payment Date, the Original Principal Balance of the Class B Notes).