Class C Note Interest Shortfall means, with respect to any Payment Date, the sum of (a) the excess, if any, of (i) the Class C Note Interest Requirement for the preceding Payment Date, over (ii) the amount in respect of interest that was actually paid pursuant to subsection 2.7(f) with respect to interest on the Class C Notes for such preceding Payment Date, plus (b) interest on the amount of interest due but not paid to the Class C Noteholders on the preceding Payment Date, to the extent permitted by law, at the Class C Note Interest Rate from and including such preceding Payment Date to but excluding the current Payment Date.

Class C Note Interest Shortfall means, with respect to any Distribution Date, the excess of (i) the Class C Noteholders’ Interest Distribution Amount on the preceding Distribution Date over (ii) the amount of interest actually distributed to the Class C Noteholders on that preceding Distribution Date, plus interest on the amount of that excess, to the extent permitted by law, at the Class C Rate from that preceding Distribution Date to the current Distribution Date.

Class C Note Interest Shortfall means, for any Distribution Date, the sum for all of the Class C Notes with a Distribution Date on this Distribution Date, of (1) the excess of (i) the amount of interest (excluding Carry-over Amounts) that was payable on the preceding Distribution Date to each class of Class C Notes with a Distribution Date on this Distribution Date, over (ii) the amount of interest actually distributed with respect to such Class C Notes on that preceding Distribution Date, plus (2) interest on the amount of that excess, to the extent permitted by law, at the weighted average interest rate on such Class C Notes from that preceding Distribution Date to the current Distribution Date.

Examples of Class C Note Interest Shortfall in a sentence

Therefore, due to the fact that the Class C Note Interest Shortfall remains outstanding as of the date of this letter, the default remains outstanding three (3) Business Days after the March Distribution Date, the date on which the payment was due, and a technical Event of Default has occurred.

More Definitions of Class C Note Interest Shortfall

Class C Note Interest Shortfall has the meaning specified in Section 4.4(c) of this Supplement.

Class C Note Interest Shortfall means, with respect to any Quarterly Distribution Date, the excess, if any, of (a) the Class C Noteholders’ Interest Distribution Amount on the immediately preceding Quarterly Distribution Date over (b) the amount of interest actually distributed to the Class C Noteholders on such preceding Quarterly Distribution Date (including as Carry-Over Amounts), plus interest on the amount of such excess interest due to the Class C Noteholders, to the extent permitted by law, at the interest rate borne by the Class C-1 Notes from such immediately preceding Quarterly Distribution Date to the current Quarterly Distribution Date, as determined by the Administrator.

Class C Note Interest Shortfall means, for any distribution date, the excess of:•the Class C Noteholders’ Interest Distribution Amount on the preceding distribution date, over•the amount of interest actually distributed to the class C noteholders on that preceding distribution date,plus interest on the amount of that excess, to the extent permitted by law, at the class C note interest rate from that preceding distribution date to the current distribution date.

Class C Note Interest Shortfall means, with respect to any Payment Date, the sum of (a) the excess, if any, of (i) the Class C Note Interest Requirement for the preceding

Class C Note Interest Shortfall means, for any distribution date, the sum for all of the class C notes with a distribution date on this distribution date, of the excess of:

Class C Note Interest Shortfall means, for any quarterly distribution date, the excess of: