Note Interest Distributable Amount definition

Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.
Sample 1Sample 2Sample 3
Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount and the Note Interest Carryover Shortfall for such Class of Notes with respect to such Distribution Date.
Sample 1Sample 2Sample 3
Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of (i) an amount equal to the interest accrued during the related Interest Accrual Period at the related Interest Rate for such Class of Notes on the outstanding principal amount of such Class of Notes on the immediately preceding Distribution Date, after giving effect to all payments of principal to Noteholders of such Class on or prior to such Distribution Date (or, in the case of the first Distribution Date, on the original principal amount of such Class of Notes) and (ii) the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date.
Sample 1Sample 2Sample 3

Examples of Note Interest Distributable Amount in a sentence

  • For each Payment Date, the amount of interest due with respect to the 2023-A Exchange Note will be equal to the 2023-A Exchange Note Interest Distributable Amount.

  • The Borrower will pay interest on this 2023-A Exchange Note in an amount equal to the 2023-A Exchange Note Interest Distributable Amount and principal on this 2023-A Exchange Note in an amount equal to the 2023-A Exchange Note Principal Distributable Amount, in each case until the principal of this 2023-A Exchange Note is paid or made available for payment.

  • The Borrower will pay interest on this 20__-__ Exchange Note in an amount equal to the 20__-__ Exchange Note Interest Distributable Amount until the principal of this 20__-__ Exchange Note is paid or made available for payment.


More Definitions of Note Interest Distributable Amount

Note Interest Distributable Amount means, with respect to any Distribution Date, the sum of the Note Monthly Interest Distributable Amount for such Distribution Date and the Note Interest Carryover Shortfall for such Distribution Date.
Sample 1
Note Interest Distributable Amount. With respect to any Payment Date, an amount equal to the sum, for each Asset Pool Portion, of (i) the product of (A) the Note Rate for such Asset Pool Portion for the related Interest Period times (B) the actual number of days in such Interest Period divided by 360 times (C) the daily weighted average Outstanding Amount applicable to such Asset Pool Portion plus (ii) the Interest Shortfall for such Payment Date.
Sample 1Sample 2
Note Interest Distributable Amount has the meaning specified in the Sale and Servicing Agreement.
Sample 1
Note Interest Distributable Amount has the meaning specified in the Indenture.
Sample 1
Note Interest Distributable Amount means, with respect to any Distribution Date and a Class of Notes, the sum of the Note Quarterly Interest Distributable Amount for such Class of Notes for such Distribution Date and the Note Interest Carryover Shortfall for such Class of Notes for such Distribution Date. For all purposes of this Agreement and the other Basic
Sample 1

Related to Note Interest Distributable Amount

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.

  • Note Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period at the related Interest Rate for each Class of Notes on the Outstanding Amount of the Notes of each such Class on the immediately preceding Payment Date (or, in the case of the first Payment Date, the original principal amount of each such Class of Notes), after giving effect to all distributions of principal to the Noteholders of each such Class on or prior to such Payment Date.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.

  • Class A Interest Distribution Amount means, as to each Class of Class A Certificates and any Remittance Date, the sum of the amounts specified in clause (a)(i), (a)(ii), (a)(iii), (a)(iv), (a)(v) and (a)(vi), as appropriate, of the definition of the term "Class A Formula Distribution Amount" and the Unpaid Class A Interest Shortfall, if any, with respect to such Class.

  • Interest Distribution Amount With respect to any Distribution Date and any Class A Certificates, any Mezzanine Certificates and any Class CE Certificates, the aggregate Accrued Certificate Interest on the Certificates of such Class for such Distribution Date.

  • Class B Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Payment Date for a Class of Notes or the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.