Class C Interest definition

Class C Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

Class C Interest. Each of the Class C-1 and Class C-2 Interests.

Class C Interest. Each regular interest in a Lower Tier REMIC with the letter "C" in its class designation.

Examples of Class C Interest in a sentence

• If the Class C Interest Shortfall with respect to any Payment Date is greater than zero, on each subsequent Payment Date until such Class C Interest Shortfall is fully paid, an additional amount (“Class C Additional Interest”) equal to the product of (i) 1/12, (ii) the Class C Note Interest Rate and (iii) such Class C Interest Shortfall (or the portion thereof which has not been paid to the Class C Noteholders) shall be payable as provided herein with respect to the Class C Notes.

• The following table irrevocably sets forth the designation, Pass-Through Rate, Initial Certificate Principal Balance (or initial Uncertificated Principal Balance, in the case of the Class C Interest and the Class IO Interest) and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each class of Certificates and interests that represents ownership of one or more of the Regular Interests in REMIC III created hereunder.

More Definitions of Class C Interest

Class C Interest means the interest distributable in respect of the Class C Certificates as calculated in accordance with subsection 4.6(c) of the Agreement.

Class C Interest means the undivided Class C participation interest in the Joint Venture, which shall entitle the JV Partner holding such Class C interest to receive allocations and distributions from time to time as provided in this Agreement.

Class C Interest. An uncertificated interest in the Trust Fund representing the right to distributions as set forth herein and evidencing (i) a Regular Interest in REMIC II and (ii) the obligation to pay the Net WAC Cap Carryover Amount.

Class C Interest means an Interest in the Company designated as Class C Interest and having such rights, preferences and obligations of Class C Interests as specified in this Agreement. Class C Interests are owned by Interest Holders as set forth on Schedule A hereto, as amended from time to time.

Class C Interest. Any of the Class I-C Interest or Class II-C Interest.

Class C Interest means a fractional undivided interest in the ---------------- Trust which shall consist of the right to receive, to the extent necessary to make the required payments to a Class C Interest Holder under this Supplement and under the Class C Supplemental Agreement, the portion of Collections allocable thereto under the Agreement and this Supplement, funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and, subject to the rights of the other Series 1998-1 Certificateholders with respect thereto, funds on deposit in the Cash Collateral Account and funds on deposit in the Class C Spread Account available pursuant to the Class C Supplemental Agreement.

Class C Interest means, for any Tranche of Class C Notes for any Distribution Date, unless otherwise specified in the applicable Terms Document, the amount of interest accrued on the Outstanding Dollar Principal Amount of such Tranche, calculated at the Note Interest Rate and in accordance with the calculation basis specified in the Terms Document for such Tranche, for the Monthly Interest Accrual Period ending on such Distribution Date (or, if applicable, ending after such Distribution Date but prior to the next Distribution Date.)