Note Interest Shortfall definition

Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.
Note Interest Shortfall means the Class A Note Interest Shortfall, if any, and/or the Class B Note Interest Shortfall, if any, as applicable.
Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to:

Examples of Note Interest Shortfall in a sentence

  • Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02.(c) If the Issuer defaults in a payment of interest at the applicable Note Rate on the Notes, the Issuer shall pay the resulting Note Interest Shortfall on the following Distribution Date as provided in the Administration Agreement.


More Definitions of Note Interest Shortfall

Note Interest Shortfall means, for any Distribution Date, the excess of (i) the Interest Distribution Amount on the preceding Distribution Date, over (ii) the amount of interest actually distributed to the Noteholders on that preceding Distribution Date, plus interest on the amount of that excess, to the extent permitted by law, at the weighted average interest rate applicable for the Notes from that preceding Distribution Date to the current Distribution Date.
Note Interest Shortfall means, for a Class and a Payment Date or Final Scheduled Payment Date, an amount equal to:
Note Interest Shortfall with respect to the Series 2001-1 Note, has the meaning specified in Section 5.4.
Note Interest Shortfall. As of any Payment Date, the sum of (i) the amount by which the Interest Distribution Amount for such Payment Date exceeds the amount actually distributed to the Noteholders on such Payment Date and (ii) any unreimbursed Note Interest Shortfalls from prior Payment Dates together with interest accrued thereon at the Note Interest Rate for such Payment Date.
Note Interest Shortfall with respect to the Series 1997-1 Notes, has the meaning specified in SECTION 5.4 of this Supplement.