Note Payment Sequence definition

Note Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, in the following order:

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Note Payment Sequence means the application of Interest Proceeds in accordance with the Interest Proceeds Priority of Payments or the application of Principal Proceeds in accordance with the Principal Proceeds Priority of Payments, as applicable, in the following order:

Note Payment Sequence means, the application, in accordance with the Priority of Payments, of Collateral Interest Collections or Collateral Principal Collections, as applicable, in the following order:

Examples of Note Payment Sequence in a sentence

• Payments made in respect of the Notes in connection with such Special Redemption shall be paid in accordance with the Note Payment Sequence.

• On the Special Redemption Date, the amount in the Collection Account representing Principal Proceeds which the Collateral Manager has determined (with written notice to the Trustee and the Collateral Administrator) cannot be reinvested in additional Collateral Obligations (such amount, the "Special Redemption Amount"), will be applied as described in the Priority of Payments in accordance with the Note Payment Sequence and the Reinvestment Period shall terminate.

• On the Special Redemption Date, the amount in the Reinvesting Collection Account representing Reinvesting Principal Proceeds which the Collateral Manager has determined (with written notice to the Trustee and the Collateral Administrator) cannot be reinvested in additional Collateral Obligations (such amount, the “Special Redemption Amount”) shall be applied as described in the Priority of Payments in accordance with the Note Payment Sequence and the Reinvestment Period shall terminate.

• Upon the occurrence of an Enforcement Event and to the extent of payments in accordance with the Secured Note Payment Sequence, principal of the Class X Notes and the Class A Notes will be pari passu.

• If a Coverage Test is not met on any Determination Date on which such Coverage Test is applicable, the Issuer shall apply available amounts in the Payment Account pursuant to the Priority of Payments on the related Payment Date to make payments on the Secured Notes in accordance with the Note Payment Sequence to the extent necessary to achieve compliance with such Coverage Tests.

More Definitions of Note Payment Sequence

Note Payment Sequence means the application, in accordance with the Priority of Payments, of Interest Proceeds, Principal Proceeds, Refinancing Proceeds or Partial Redemption Interest Proceeds as applicable, in the following order:

Note Payment Sequence means the application of Interest Proceeds or Principal Proceeds, as applicable, in accordance with the relevant Priorities of Payments in the following order:

Note Payment Sequence means the application of Interest Proceeds and Principal Proceeds in accordance with the Priorities of Payment, as applicable, in the following order:

Note Payment Sequence means the application of Collections to pay principal of the Rated Notes in the following order, in each case until paid in full: (i) Class A Senior Notes, pro rata, (ii) Class A-2 Notes, (iii) Class B Notes, (iv) Class C Notes, (v) Class D Notes, (vi) Class E Notes, (vii) Class F Notes, (viii) Class G Notes, (ix) Class H Notes, (x) Class J Notes, (xi) Class K Notes, (xii) Class L Notes, (xiii) Class M Notes and (xiv) Class N Notes.

Note Payment Sequence means the application of Interest Proceeds pursuant to the Interest Proceeds Priority of Payment or the application of Principal Proceeds pursuant to the Principal Proceeds Priority of Payments, as applicable, in the following order:

Note Payment Sequence. The application, in accordance with the Priority of Payments, of Interest Proceeds or Principal Proceeds, as applicable, to the payment of principal of the Class A Notes until the Class A Notes have been paid in full; provided that, in connection with any Tax Redemption, Optional Redemption or Clean-Up Call Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes.

Note Payment Sequence means the application of Aggregate Interest Proceeds in accordance with the Aggregate Interest Proceeds Priority of Payments or the application of Aggregate Principal Proceeds in accordance with the Aggregate Principal Proceeds Priority of Payments, as applicable, in the following order: