Class C Interest definition

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

For federal income tax purposes, the pass-through rate on each REMIC Regular Interest (other than the Uncertificated Class C Interest and the Class UT-IO Interest) and on the sole class of residual interest in the Upper Tier REMIC shall be subject to a cap equal to the Upper Tier REMIC Net WAC Cap.
For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest.
Any Realized Losses that reduce the distributions in respect of and/or the Uncertificated Principal Balance of the Class C Interest, shall be allocated by the Trustee to reduce the distributions in respect of and/or the Certificate Principal Balance of the Class C Certificates.
For federal income tax purposes, the pass-through rate on each REMIC Regular Interest (other than the Uncertificated Class C Interest) and on the sole class of residual interest in the Upper Tier REMIC shall be subject to a cap equal to the Net Rate.
Instead, the monthly interest due on the Class C Certificates will be 100% of the interest paid on the Class C Interest.

Class C Interest. Each of the Class C-1, Class C-2, Class C-3, Class C-4 and Class C-5 Interests.

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).

Class C Interest means, with respect to any Class C Member, such Member’s Class C Capital interests and the rights and obligations of such Member with respect to the Company pursuant to this Agreement and applicable law by virtue of such Member having such Class C Capital.

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. 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.