Definition of Class B Note Principal Balance


Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.


Class B Note Principal Balance means, with respect to any date, the Class B Note Initial Principal Balance, minus the aggregate amount of any principal payments made to the Class B Noteholders prior to such date.

Class B Note Principal Balance means, on any date, (a) the Class B Initial Note Principal Balance, minus (b) the total amount of principal payments made on the Class B Notes on or prior to such date, including.

Examples of Class B Note Principal Balance in a sentence

The Class B Note Principal Balance at the close of business on such Distribution Date (after giving effect to all payments and adjustments on such Distribution Date) will be equal to.
Upon an Early Amortization Event, the amount, if any, remaining on deposit in the Spread Account, after making the payments described in clause (a) above, shall be applied to pay principal on the Class C Notes on the earlier of the Series Maturity Date and the first Payment Date on which the Class A Note Principal Balance and the Class B Note Principal Balance have been paid in full.
Average Class B Note Principal Balance: For any period, an amount equal to the result of (a) the aggregate of the Class B Note Principal Balance for each day during that period divided by (b) the number of days in that period.
The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time.
The amount of monthly interest due with respect to the Class B Notes for any Distribution Date and the related Interest Period (the “ Class B Monthly Interest”) shall be calculated by the Servicer and 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 360, times (ii) the Class B Note Interest Rate, times (iii) the Average Class B Note Principal Balance for the related Interest Period.



More definitions of Class B Note Principal Balance

Class B Note Principal Balance means, with respect to any Class B Note as of any date of determination, an amount equal to the excess, if any, of (x) the initial principal balance of such Class B Note as of the Series 2013-2 Closing Date, over (y) the cumulative amount of all Class B Minimum Principal Payment Amounts, Class B Scheduled Principal Payment Amounts and any other principal payments (including Prepayments) actually paid to the related Class B Noteholder subsequent to the Series 2013-2 Closing Date.


Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to Class B Noteholders on or prior to such date. [“Class B Note Purchase Agreement” means the certain Note Purchase Agreement, dated as of the date hereof, by and among the Indenture Trustee, the Transferor, the Servicer and the Class B Noteholder (or Class B Noteholders) pursuant to which the Class B Noteholder (or Class B Noteholders) agreed to purchase the Class B Notes, such agreement as may be amended, amended and restated, or otherwise modified.]

Class B Note Principal Balance means, at any time, the outstanding principal balance of the Class B Notes at such time.

Class B Note Principal Balance means an amount equal to the excess of (x) the sum of (A) the outstanding principal balance of the Class B Notes on the Closing Date plus (B) the principal balance of all Class B Loans made subsequent to the Closing Date, minus (y) all amounts paid to the Class B Note Purchasers representing the sum of the following, to the extent actually received by the Class B Note Purchasers: (i) Class B Note Minimum Principal Payment Amounts, (ii) Class B Note Distributable Amortization Amounts, (iii) Prepayments of principal of the Class B Notes paid to the Class B Note Purchasers, (iv) repayments of the Class B Note Principal Balance made pursuant to Section 2.4(c) hereof, and (v) payments of principal of the Class B Notes made by the Seller pursuant to the Guaranty.

Class B Note Principal Balance means, on any date, the Class B Initial Note Principal Balance, minus the total amount of principal payments made on the Class B Notes on or prior to such date.