# Class D Monthly Interest definition

Class D Monthly Interest means (i) for the initial Distribution Date, \$[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class D Rate and (B) the outstanding principal balance of the Class D Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class D Notes on or before such preceding Distribution Date).
Class D Monthly Interest means, for any Distribution Date, one-twelfth (or, in the case of the first Distribution Date, the number of days from and including the Closing Date to but excluding the 15th day of the month in which such Distribution Date occurs, assuming each month has 30 days, divided by 360) of the product of (A) the Class D Rate and (B) the outstanding principal balance of the Class D Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class D Notes on or before such preceding Distribution Date).
Class D Monthly Interest means, with respect to (i) the initial Series 2021-2 Interest Period, an amount equal to \$291,720.00 and (ii) any other Series 2021-2 Interest Period, an amount equal to the product of (A) one-twelfth of the Class D Note Rate and (B) the Class D Invested Amount on the first day of such Series 2021-2 Interest Period, after giving effect to any principal payments made on such date.

## Examples of Class D Monthly Interest in a sentence

• The amount of distribution in respect to the Class D Monthly Interest .................................

• The amount of distribution in respect to the Class D Monthly Interest.............................

• The amount of distribution in respect to the Class D Monthly Interest ..............................

• The amount of the payment set forth in A1 above in respect of Class D Monthly Interest.

• The amount of distribution in respect to the Class D Monthly Interest ..............

## More Definitions of Class D Monthly Interest

Class D Monthly Interest means, for any Payment Date (except the Initial Payment Date), the product of (i) one-twelfth, (ii) the Class D Note Rate and (iii) the Class D Note Balance on the immediately preceding Payment Date (or, in the case of the Initial Payment Date, the Closing Date) after giving effect to all principal payments on the Class D Notes on such Payment Date. The Class D Monthly Interest shall be calculated based upon a twelve month year of thirty days in each month, except for the Initial Payment Date, for which interest shall accrue from the Closing Date to but excluding such Initial Payment Date.
Class D Monthly Interest shall have the meaning specified in Section 4.3(d).
Class D Monthly Interest distributable from the Distribution Account with respect to the Class D Notes for any Interest Period on the related Distribution Date shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is  [the actual number of days in the Interest Period] and the denominator of which is 360, times (B) the Class D Note Interest Rate in effect with respect to the related Distribution Period and (ii) the Class D Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class D Note Initial Principal Balance)[; provided that the Class D Monthly Interest for the [•] [•] Distribution Date shall be \$[•]]. On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class D Deficiency Amount”), of (x) the aggregate amount accrued pursuant to this subsection 4.2(e) as of the prior Distribution Date over (y) the amount of funds actually transferred from the Distribution Account for payment of such amount. If the Class D Deficiency Amount for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class D Deficiency Amount is fully paid, an additional amount (“Class D Additional Interest”) equal to the product of (i) (A) a fraction, the numerator of which is  [the actual number of days in the Interest Period] and the denominator of which is 360, times (B) the Class D Note Interest Rate in effect with respect to the related Distribution Period plus 2% per annum and (ii) such Class D Deficiency Amount (or the portion thereof which has not been paid to the Class D Noteholders) shall be payable as provided herein with respect to the Class D Notes. Notwithstanding anything to the contrary herein, Class D Additional Interest shall be payable or distributed to the Class D Noteholders only to the extent permitted by applicable law.]
Class D Monthly Interest. Has the meaning specified in Section 4.02(d).
Class D Monthly Interest has the meaning specified in Section 5.12(d).
Class D Monthly Interest is defined in Section 4.1(d).
Class D Monthly Interest means the sum of the Class D-1 Monthly Interest plus the Class D-2 Monthly Interest.