Examples of Class Principal Balance in a sentence
If the Notes have been declared to be due and payable under Section 10.02 following an Event of Default, and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shall, solely upon the written direction of Noteholders representing more than 50% of the Class Principal Balance of each Class of Notes adversely affected by such Event of Default, elect to maintain possession of the Trust Estate and apply proceeds as if there had been no declaration of acceleration.
Class of Notes Initial Class Principal Balance Note Rate Note Type Rating (Fitch) Series 2024-1, Class A-2 $ 530,000,000 6.19 % Term Notes A Series 2024-1, Class B $ 73,000,000 7.02 % Term Notes BBB Series 2024-1, Class C $ 147,000,000 11.16 % Term Notes BB- Accrued Note Interest with respect to each Interest Accrual Period for the Series 2024-1 Term Notes will be calculated on a 30/360 Basis in the manner set forth in the definition of “Accrued Note Interest” in Section 1.01 of the Base Indenture.
The Class Principal Balance of each Class of Notes, to the extent not earlier paid, shall be due and payable in its entirety on the Rated Final Payment Date for such Class.