Definition of Note Interest Distributable Amount


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.


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.

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.

Examples of Note Interest Distributable Amount in a sentence

In the event that the Indenture Trustee determines that there exists a Shortfall, the Indenture Trustee shall no later than 12:00 noon, Chicago, Illinois time, on such Distribution Date remit monies from the Reserve Fund in the following order of priority: first, to the Note Distribution Account, the amount of such Shortfall relating to the Note Interest Distributable Amount and second, to the Note Distribution Account, the amount of such Shortfall relating to the Note Principal Distributable Amount.
On each Distribution Date, each Secured Note shall be paid interest in an amount equal to the Secured Note Interest Distributable Amount payable to such Secured Note in accordance with Section 3.03(c)(ii) of the Servicing Agreement on such Distribution Date.
For each Payment Date, the amount of interest due with respect to the 2019-A Exchange Note will be equal to the 2019-A Exchange Note Interest Distributable Amount.
For each Payment Date, the amount of interest due with respect to the 2018-B Exchange Note will be equal to the 2018-B Exchange Note Interest Distributable Amount.
For each Payment Date, the amount of interest due with respect to the 201[__]-[__] Exchange Note will equal the 201[__]-[__] Exchange Note Interest Distributable Amount.



More definitions of Note Interest Distributable Amount

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[a],] [Class A-3] [,][and] [Class A-4] [and Class B] 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 [and Class A-2b] Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.


Note Interest Distributable Amount means to the extent applicable, the sum of the Class A-1 Interest Distributable Amount, the Class A-2 Interest Distributable Amount, the Class A-3 Interest Distributable Amount, the Class B Interest Distributable Amount, the Class C Interest Distributable Amount and the Class D 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 all Classes of Notes for one or more prior Distribution Dates.