Class B Note Interest. With respect to any Payment Date, the sum of (i) product of (A) the Class B Principal Balance immediately prior to such Payment Date, but disregarding, for purposes of this calculation of interest only, Class B Allocated Loss Amounts previously applied to reduce the Class B Principal Balance and (B) the one-twelfth of the Class B Interest Rate and (ii) the Class B Overdue Interest from the preceding Payment Date.

Class B Note Interest means, (a) with respect to the initial Payment Date, the product of (x) 1/360 of the Class B Interest Rate times (y) the number of days from and including the Closing Date through the day immediately preceding the initial Payment Date (calculated on the basis of a 360-day year consisting of twelve 30-day months) times (z) the Aggregate Outstanding Principal Balance of the Class B Notes as of the Closing Date; provided that, with respect to the initial Payment Date, Class B Note Interest shall equal $951,225.56, and (b) with respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class B Interest Rate times (y) the Aggregate Outstanding Principal Balance of the Class B Notes outstanding as of the immediately preceding Payment Date after giving effect to all payments of principal of the Class B Notes on such immediately preceding Payment Date and (ii) the Class B Overdue Interest, if any.

Examples of Class B Note Interest in a sentence

The Class B Note Interest Rate for the Interest Period with respect to such Distribution Date is equal to .
The average rate (the weighted average Class A Note Interest Rate and Class B Note Interest Rate reduced to take into account the non-interest bearing over- collateralization invested amount ) is equal to .
The average rate (the weighted average Class A Note Interest Rate, Class B Note Interest Rate and Class C Note Interest Rate reduced to take into account the non-interest bearing over-collateralization invested amount) is equal to .
For each month and each currency, such exchange rate will equal the rate of exchange used by the paying Party to calculate net sales in such Party’s external financial statements, in accordance with GAAP consistently applied during such calendar quarter.
The Servicer shall provide, in the Monthly Statement, the Class A Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D Note Interest Rate applicable to each Distribution Date.

More Definitions of Class B Note Interest

Class B Note Interest means, with respect to any Payment Date, the sum of (i) the product of (A) the Class B Principal Balance immediately prior to such Payment Date and (B) one-twelfth of the Class B Note Interest Rate and (ii) the Class B Overdue Interest for that Payment Date; provided that the Class B Note Interest for the first Payment Date will be 53.33% of the amount calculated in (i) of this definition.

Class B Note Interest means, for any Payment Date, the sum of the Class B Interest Payment Amount for such Payment Date and the Class B Interest Carryover Shortfall, if any, as of the immediately preceding Payment Date.

Class B Note Interest means (a) with respect to the initial Payment Date, the product of (i) 1/360 of the Class B Note Interest Rate times (ii) the actual number of days from and including the Closing Date through the day immediately preceding the initial Payment Date times (iii) the Note Principal Balance of the Class B Notes as of the Closing Date, and (b) with respect to any subsequent Payment Date, the sum of (i) the product of (x) 1/12 of the Class B Note Interest Rate times (y) the Note Principal Balance of the Class B Notes as of the immediately preceding Payment Date after giving effect to all payments of principal of the Class B Notes on such immediately preceding Payment Date and (ii) the Class B Overdue Interest, if any.

Class B Note Interest shall have the meaning specified in Section 4.4A(iii).

Class B Note Interest means each undivided interest in the Class B Notes acquired by the Class B Conduit Investor or the Class B Alternate Investors in connection with the funding of the Class B Initial Invested Amount, the making of Class B Incremental Fundings by the Class B Conduit Investor or the Class B Alternate Investors pursuant to Section 2.04 or the funding of any Assignment Purchase Price by the Class B Alternate Investors pursuant to Section 2.09.

Class B Note Interest means, for any Payment Date, the sum of the Class B Interest Payment Amount for such Payment Date and the Class B Interest Carryover Shortfall as of the immediately preceding Payment Date.

Class B Note Interest means, (a) with respect to the initial Payment Date, the product of (x) 1/360 of the Class B Interest Rate times (y) the number of days from and including the Closing Date through the day immediately preceding the initial Payment Date (calculated on the basis of a 360-day year consisting of twelve 30-day months) times (z) the Aggregate Outstanding Principal Balance of the Class B Notes as of the Closing Date, and (b) with respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class B Interest Rate times (y) the Aggregate Outstanding Principal Balance of the Class B Notes outstanding as of the immediately preceding Payment Date after giving effect to all payments of principal of the Class B Notes on such immediately preceding Payment Date and (ii) the Class B Overdue Interest, if any.