Class B Interest definition

Class B Interest. Each of the Class B-1 and Class B-2 Interests.

Class B Interest means an Interest in the Company which is classified on Exhibit B as a Class B Interest and which has the rights, powers and privileges enjoyed by a Member holding a Class B Percentage Interest (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member, and all obligations, duties and liabilities imposed on such a Member (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member.

Class B Interest means an Interest that has been designated as Class B.

Examples of Class B Interest in a sentence

• Each Class B Interest in Holdings so distributed will be exchanged for one Class A Ordinary Share of the Issuer.

• Each Class B Interest in Holdings so distributed was exchanged for one Class A Ordinary Share of the Issuer.

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• In the event of a shortfall, the Issuer shall debit the Class B Interest Deficiency Ledger with an amount equal to the amount by which the aggregate amount of interest paid on the Class B Notes on any Notes Payment Date in accordance with this Condition falls short of the aggregate amount of interest payable on the Class B Notes on that date pursuant to Condition 4.

• Interest Deficiency Ledgers and interest roll-over To the extent that on any Quarterly Calculation Date, the amount of Quarterly Interest Available Funds is not sufficient to pay the Accrued Interests in respect of all Class B Notes, the amount of such shortfall (the Class B Interest Deficiency) shall be recorded in the Class B interest deficiency ledger (the Class B Interest Deficiency Ledger).

More Definitions of Class B Interest

Class B Interest has the meaning set forth in Section 5.7(a).

Class B Interest. Each regular interest in a Lower Tier REMIC with the letter "B" in its class designation.

Class B Interest means the Membership Interest issued pursuant to Section 3.2, which entitles the Holder thereof to receive distributions of cash and property, allocations of profits and losses and other rights that are accorded Holders of a Class B Interest under this Agreement.

Class B Interest means thirty-five percent (35%) of the total Interests in the Company, which shall be issued to CARDONE CAPITAL, LLC (or its members or their Affiliates).

Class B Interest means the interest distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.6(b) of the Agreement.

Class B Interest means, for each day during an Interest Accrual Period and each outstanding Class B Advance on such day, the sum of the products (for each day during such Interest Accrual Period) of: IR x P x 1/D where: IR = the Interest Rate for such Class B Advance on such day; P = the principal amount of such Class B Advance on such day; and D = 360.

Class B Interest means the Interests held by the Class B Member having such rights and preferences as are set forth herein.