Note Interest definition

Note Interest for any Class of Notes and Payment Date means interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).

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Note Interest means interest payable in respect of the Notes of any Series pursuant to the Series Supplement for such Series.

Note Interest. On any Payment Date for any Class of Notes, the interest accrued during the related Accrual Period at the Note Rate for such Class, applied to the Class Principal Balance of such Class on such Payment Date before giving effect to any payments of principal on such Payment Date. The Note Interest with respect to each Class of Notes will be calculated on a 30/360 basis or actual/360 basis, as indicated in the applicable Series Supplement.

Examples of Note Interest in a sentence

• Any such unpaid Note Interest on any such Class of Notes shall be added to the Outstanding Principal Balance of such Notes and shall be payable on the first Payment Date on which funds are available to be used for such purpose in accordance with the Priority of Payments or the Special Priority of Payments, as applicable.

• To the extent that funds are not available on any Payment Date to pay previously accrued Note Interest that was deferred on any Class of Notes (other than the Class A Notes), such previously accrued Note Interest shall not be considered “due and payable” on such Payment Date, and the failure to pay such previously accrued Note Interest on such Payment Date shall not be an Event of Default.

• The Note Interest for each Payment Date shall accrue during each Interest Accrual Period at the applicable Interest Rate with respect to each Series and Class of Notes on the Outstanding Principal Balance of such Notes immediately prior to the related Payment Date.

More Definitions of Note Interest

Note Interest for these Class A(2015-A) Notes has the meaning set forth in the Note Purchase Agreement.

Note Interest means, with respect to any Payment Date and each Class of Notes, interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).

Note Interest. As to the Notes and any Payment Date, the amount of interest payable to Holders of such Notes on such Payment Date, which amount shall be equal to interest at 1/12th of the Note Interest Rate on the Note Balance as of the preceding Payment Date (after giving effect to the payment, if any, in reduction of principal made on such Notes on such preceding Payment Date). All calculations of interest on the Notes will be computed on the basis of twelve thirty-day months and a year of 360 days.

Note Interest means, with respect to any Payment Date, an amount equal to the sum of (i) interest accrued during the Interest Accrual Period at the Interest Rate with respect to the Notes on the Outstanding Principal Balance plus (ii) any accrued and unpaid Note Interest from prior Payment Dates, together with, to the extent permitted by Law, interest thereon at such Interest Rate during the Interest Accrual Period, calculated on the basis of a 360-day year consisting of twelve 30-day months.

Note Interest means, for a Class of Notes and any Collection Period, the ------------- sum of the Note Current Interest and the Overdue Interest for the Class.

Note Interest means, with respect to any Investor at any time, the undivided interest in the Note owned by such Investor at such time.

Note Interest means a beneficial interest in a Note.