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).

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

Note Interest for these Class A(2011-B) Notes has the meaning set forth in the Note Purchase Agreement.

Examples of Note Interest in a sentence

• Each successive Note Interest Period will commence on (andinclude) the next (or first) Note Payment Date and end on (but exclude) the following Note Payment Date (each, a "Note Interest Period").

• If a Note Interest Period would otherwise end on a day which is not a Business Day, that Note Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not).

• The first Note Interest Period will commence on (and include) the Closing Date and end on (but exclude) the Note Payment Date falling in August 2019.

• Interest Interest on the Notes will be payable by reference to successive Note Interest Periods.

• Reserve Fund and Reserve Account The purpose of the Reserve Fund is to provide liquidity in situations where Revenue received in a particular Due Period during the Amortisation Period does not cover Senior Expenses, Note Interest and Note Specific Liquidity Facility Interest in that Due Period.

More Definitions of Note Interest

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. 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 Adjusted Principal Balance of such Class of Notes on such Payment Date before giving effect to any payments of principal on such Payment Date. The Note Interest for a Class of Notes will be calculated in the matter set forth in the related Series Supplement.

Note Interest means, (i) with respect to the Class A Notes and any Payment Date, an amount equal to the sum of (a) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class A Notes immediately prior to such Payment Date and (b) the amount of unpaid Note Interest for the Class A Notes from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate; and (ii) with respect to the Class B Notes and the Class C Notes and (a) any Payment Date occurring during a Non-Sequential Interest Amortization Period, an amount equal to the sum of (1) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of such Class of Notes immediately prior to such Payment Date and (2) the amount of unpaid Note Interest for such Class of Notes from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate, and (b) any Payment Date occurring during a Sequential Interest Amortization Period, an amount equal to zero. For the avoidance of doubt, Note Interest does not include Class B Deferred Interest, Class C Deferred Interest or Post-ARD Additional Note Interest.

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, with respect to a Class of Notes and any Payment Date, the sum of the Note Current Interest and any unpaid, overdue interest, if any, for such Class.

Note Interest means, with respect to each Remittance Date, the product of (x) the Note Rate in effect with respect to such Remittance Date, (y) the Net Investment outstanding immediately prior to such Remittance Date and (z) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360. The Note Interest shall be reduced by the interest portion of any Prepayment Amount applied since the preceding Remittance Date.

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.