Note Balance definition

Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing.

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Note Balance means, for a Note or Class, the initial aggregate principal balance of the Note or Class minus all amounts distributed on the Note or Class that is applied to principal.

Note Balance means the aggregate Outstanding Amount of the Notes from time to time.

Examples of Note Balance in a sentence

• Pursuant to Section 5.01(a) of the 2026-A Servicing Supplement, on any Payment Date on which the Outstanding Amount is equal to or less than 5% of the Initial Note Balance, after giving effect to all principal payments on such Payment Date, the Servicer may cause the Notes to be redeemed in whole but not in part by purchasing the 2026-A Exchange Note.

• The Indenture also contains provisions permitting Noteholders representing specified percentages of the Note Balance, on behalf of all Noteholders, to waive compliance by the Issuer with certain provisions of the Indenture and certain past Defaults under the Indenture and their consequences.

• If the Note Balance and all other Issuer Obligations have been paid in full and the Issuer has been terminated, any remaining amounts on deposit in the 2026-A Reserve Account shall be distributed to the Certificateholder.

• The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Note Balance, on behalf of all Noteholders, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.

• The entire outstanding 2026-A Exchange Note Balance will become due and payable on the 2026-A Exchange Note Final Scheduled Payment Date.

More Definitions of Note Balance

Note Balance means, at any time, as the context may require, (i) with respect to all of the Notes, an amount equal to, initially, the Initial Note Balance and, thereafter, an amount equal to the Initial Note Balance as reduced from time to time by all amounts allocable to principal previously distributed to the Noteholders or (ii) with respect to any Note, an amount equal to, initially, the initial denomination of such Note and, thereafter, an amount equal to such initial denomination as reduced from time to time by all amounts allocable to principal previously distributed in respect of such Note; provided, however, that in determining whether the Holders of Notes evidencing the requisite percentage of the Note Balance have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any other Transaction Document, Notes owned by the Trust, any other obligor upon the Notes, the Depositor, the Seller, the Servicer or any Affiliate of any of the foregoing Persons shall be disregarded and deemed to be excluded from the Note Balance (unless such Persons own 100% of the Note Balance), except that, in determining whether the Indenture Trustee or the Owner Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Indenture Trustee or the Owner Trustee, as applicable, knows to be so owned shall be so disregarded; and, provided further, that Notes that have been pledged in good faith may be regarded as included in the Note Balance if the pledgee establishes to the satisfaction of the Indenture Trustee or the Owner Trustee, as applicable, the pledgee’s right so to act with respect to such Notes and that the pledgee is not the Trust, any other obligor upon the Notes, the Depositor, the Seller, the Servicer or any Affiliate of any of the foregoing Persons.

Note Balance means the sum of the Class A-1 Note Balance, the Class A-2a Note Balance, the Class A-2b Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance.

Note Balance as of any date of determination, means the aggregate of the outstanding principal balances of the Class A‑1 Notes, Class A‑2a Notes, Class A-2b Notes, Class A‑3 Notes, Class A‑4 Notes and Class B Notes.

Note Balance means, at any time, the aggregate principal amount of all Notes Outstanding at such time or the aggregate principal amount of all Notes of the Controlling Class Outstanding at such time, as the context requires.

Note Balance means, as of any date of determination, an amount equal to (a) the sum of (i) the Initial Class A-1 Note Balance, (ii) the Initial Class A-2-A Note Balance, (iii) the Initial Class A-2-B Note Balance, (iv) the Initial Class A-3 Note Balance, (v) the Initial Class A-4 Note Balance, (vi) the Initial Class B Note Balance and (vii) the Initial Class C Note Balance less (b) all amounts distributed to Noteholders on or prior to such date and allocable to principal thereon.

Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance or the Class A-4 Note Balance, as applicable, or with respect to the Notes generally, the sum of the foregoing.

Note Balance. With respect to any Payment Date and any Class of Notes, the Initial Note Balance thereof reduced by all payments of principal thereon prior to such Payment Date.