Examples of Class C Note Principal Balance in a sentence
On the date on which the Class C Note Principal Balance has been paid in full, after making any payments to the Noteholders required pursuant to Sections 4.11(a), (b), (c) and (d), the Issuer shall withdraw from the Spread Account all amounts then remaining in the Spread Account and pay such amounts to the holders of the Transferor Interest.
Unless an Early Amortization Event occurs, the Issuer will withdraw from the Spread Account and deposit in the Collection Account for payment to the Class C Noteholders on the Expected Principal Payment Date for the Class C Notes an amount equal to the lesser of: (i) the amount on deposit in the Spread Account after application of any amounts set forth in clause (a) above and (ii) the Class C Note Principal Balance.
The Class C 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.
The amount of monthly interest due with respect to the Class C Notes for any Distribution Date and the related Interest Period (the “ Class C 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 C Note Interest Rate, times (iii) the Average Class C Note Principal Balance for the related Interest Period.
The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance.