Examples of Initial Class B Note Balance in a sentence
Optional Redemption The Indenture provides that the Notes may be redeemed by the Issuer, in whole but not in part, as to the then Outstanding Offered Notes, at any time after (i) the [Class A] Note Balance is less than [___%] of the Initial [Class A] Note Balance and (ii) the [Class B] Note Balance is less than [___%] of the Initial [Class B] Note Balance, at the Redemption Price.
The Indenture Trustee shall, upon receipt of an Issuer Order, authenticate and deliver for original issue Notes in the amount of the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial Class A-3 Note Balance, the Initial Class A-4 Note Balance and the Initial Class B Note Balance.
The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class M-1, Class M-2 and Class B Notes shall have initial principal amounts of the Initial Class A-1 Note Balance, Initial Class A-2 Note Balance, Initial Class A-3 Note Balance, Initial Class A-4 Note Balance, Initial Class A-5 Note Balance, Initial Class A-6 Note Balance, Initial Class M-1 Note Balance, Initial Class M-2 Note Balance and Initial Class B Note Balance, respectively.
As provided in the Indenture, the Notes may be redeemed pursuant to Section 10.01 of the Indenture, in whole, but not in part, at the option of the Servicer, on any Payment Date on or after the date on which the Class B Note Balance is less than or equal to 10% of the Initial Class B Note Balance on the Closing Date.
The Servicer shall have the option to redeem all of the Outstanding Notes of any Class at any time the Outstanding Class A Note Balance or Outstanding Class B Note Balance of the Notes of such Class is less than 10% of the Initial Class A Note Balance or Initial Class B Note Balance, in each case at the applicable Redemption Price plus any fees due hereunder and all amounts due to MBIA under the Insurance Agreement; provided, however, that the Class B Notes may not be redeemed before the Class A Notes.