Class D2 Notes definition
Examples of Class D2 Notes in a sentence
On each Distribution Date on which payments of interest, principal, redemption amounts or other payments are made on the Class B-2 Notes or Class D-2 Notes, a portion of such payments shall be allocated to each related Component of the Combination Notes as provided below.
The Combination Notes are non-recourse obligations of the Co-Issuers and are payable solely from payments of interest, principal or other distributions in respect of the Components thereof which comprise Class B-2 Notes and Class D-2 Notes.
Interest on the Notes and interest on Defaulted Interest in respect thereof will be computed on the basis of a 360-day year and the actual number of days elapsed; provided that interest on the Class B-2 Notes, the Class D-2 Notes and, when bearing interest at a fixed rate, the Class C-2 Notes and the Class C-3 Notes will be computed on the basis of a 360-day year of twelve 30-day months.
Interest on the Notes and interest on Defaulted Interest in respect thereof will be computed on the basis of a 360-day year and the actual number of days elapsed; provided that interest on the Class A-1C Notes, the Class B-2 Notes and the Class D-2 Notes will, at all times that such Notes bear interest at a fixed rate, be computed on the basis of a 360-day year of twelve 30-day months.
A Holder of a Combination Note may exchange such Combination Note for one or more Class B-2 Notes and Class D-2 Notes representing such Components (unless such Component has been fully paid).