Class B Supplemental Principal Payment Amount definition

Class B Supplemental Principal Payment Amount means, for any Payment Date, the amount of any prepayment of the Class B Notes required pursuant to Section 205(b) of this Supplement. For purposes of the Indenture and this Supplement, the Class B Supplemental Principal Payment Amount is the “Supplemental Principal Payment Amount” with respect to the Class B Notes.

Class B Supplemental Principal Payment Amount means, for any Payment Date, the amount of any Prepayment of the Class B Notes required pursuant to Section 205(b) of this Supplement. For purposes of the Indenture and this Supplement, the Class B Supplemental Principal Payment Amount is the “Supplemental Principal Payment Amount” with respect to the Class B Notes.

Class B Supplemental Principal Payment Amount. On each Payment Date is equal to the excess, if any, of (i) the Aggregate Series 2020-1 Note Principal Balance (calculated after giving effect to all Class A Supplemental Principal Payment Amounts, Class A Scheduled Principal Payment Amounts, and Class B Scheduled Principal Payment Amounts actually paid on such date) over (ii) the Series 2020-1 Adjusted Asset Base (determined as of the last day of the month immediately preceding such Payment Date).

Examples of Class B Supplemental Principal Payment Amount in a sentence

• The Class A Supplemental Principal Payment Amount and the Class B Supplemental Principal Payment Amount shall be payable on such Payment Date from amounts on deposit in the Series 2020-1 Series Account in accordance with the priority of payments set forth in Section 303.

• Nothing contained in this Section 205(b) shall prohibit the payment of a Class A Supplemental Principal Payment Amount or a Class B Supplemental Principal Payment Amount or other accelerated payment of principal in accordance with the provisions of this Supplement on any Payment Date.

More Definitions of Class B Supplemental Principal Payment Amount

Class B Supplemental Principal Payment Amount means on each Payment Date an amount equal to the excess, if any, of (i) the Aggregate Series 2020-1 Note Principal Balance on such Payment Date (calculated after giving effect to all Class A Scheduled Principal Payment Amounts, Class A Supplemental Principal Payment Amounts and Class B Scheduled Principal Payment Amounts actually paid on such date) over (ii) the Series 2020-1 Asset Base (determined as of the last day of the month immediately preceding such Payment Date). “Control Party” means, with respect to Series 2020-1, the Majority of Holders of the Series 2020-1 Notes. “Disposition Fees” means, with respect to any Managed Container that (i) has been sold to a third party, or (ii) is the subject of a Casualty Loss, an amount equal to the product of (x) five percent (5%) and (y) the DispositionSales Proceeds realized thereon. “DTC” shall have the meaning set forth in Section 206. “Eligible Bank” means a banking, financial or similar institution capable of issuing an Eligible Letter of Credit which institution has a long-term unsecured debt rating of “A-” or better from the Rating Agency. “Eligible Letter of Credit” a Letter of Credit (a) with respect to which the Rating Agency Condition has been satisfied, (b) that is issued by an Eligible Bank and for which the Indenture Trustee is the beneficiary, (c) that has a stated expiration date of not earlier than one year after its issuance date and that permits drawing thereon (x) prior to non-renewal of such Letter of Credit or (y) prior to the related Letter of Credit Bank ceasing to be an Eligible Bank, in each case if not replaced by cash or a replacement Eligible Letter of Credit, (d) that may be drawn upon at a branch of such institution in the Borough of Manhattan, New York or the City of Wilmington, Delaware as the same shall be designated from time to time by notice to the Indenture Trustee pursuant to the terms of such letter of credit, (e) which is payable in Dollars in immediately available funds in an amount of not less than the available drawing amount specified therein, and (f) that may be transferred by the Indenture Trustee, without a fee payable by the Indenture Trustee and without the consent of the related Letter of Credit Bank, to any replacement indenture trustee appointed in accordance with the terms of the Indenture. “Interest Accrual Period” means, with respect to the calculation of Class A Note Interest Payment and Class B Note Interest Payment payable on each Payment Date, the per...