Class B Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class B Interest Distributable Amount for such Payment Date and any outstanding Class B Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class B Interest Carryover Shortfall at the Class B Rate, to the extent lawful, calculated on the same basis as interest on the Class B Notes for the same period), over (y) the amount of interest distributed to the Class B Noteholders on such Payment Date.

Class B Interest Carryover Shortfall. With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class B Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class B Notes.

Class B Interest Carryover Shortfall means, as of the close of business on any Distribution Date, the excess of the Class B Interest Distributable Amount for such Distribution Date plus any outstanding Class B Interest Carryover Shortfall from the preceding Distribution Date plus interest on such outstanding Class B Interest Carryover Shortfall, to the extent permitted by law, at the Class B Note Rate from and including such preceding Distribution Date to but excluding the current Distribution Date, over the amount actually deposited in the Note Distribution Account on such current Distribution Date and available to pay interest on the Class B Notes.

Examples of Class B Interest Carryover Shortfall in a sentence

Class B Interest Carryover Shortfall, if any (and change in amount from preceding statement) $0.00 g.
If the Issuer defaults in a payment of interest on the Notes, and such default is waived by the Controlling Party, the Issuer shall pay the Class A-1 Interest Carryover Shortfall, the Class A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall and the Class B Interest Carryover Shortfall to the related Noteholders, as applicable, on the immediately following Payment Date.
Notices in connection with redemption of the Notes shall be mailed to Noteholders as provided in Section 10.2. If the Issuer defaults in a payment of interest on any Class of the Notes, the Issuer shall pay any Class A-1 Interest Carryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall and Class B Interest Carryover Shortfall on subsequent Distribution Dates pursuant to Section 5.12(a) of the Sale and Servicing Agreement.
Calculation of Class B Interest Distributable Amount Class B Interest Rate 7.83% Days in Period (30/360 convention) 30 Class B Balance $85,417,000.00 Class B Interest Carryover Shortfall $0.00 Class B Interest Distributable Amount $557,345.93 ====================== F.
Class B Interest Carryover Shortfall, if any (and change in amount from preceding $0.00 g.

More Definitions of Class B Interest Carryover Shortfall

Class B Interest Carryover Shortfall means, (a) with respect to the initial Distribution Date, zero, and (b) with respect to any other Distribution Date, the excess of Class B Monthly Interest for the preceding Distribution Date and any outstanding Class B Interest Carryover Shortfall on such preceding Distribution Date, over the amount in respect of interest that is actually deposited in the Class B Distribution Account on such preceding Distribution Date, plus 30 days of interest on such excess, to the extent permitted by law, in an amount equal to the product of one-twelfth multiplied by the Class B Certificate Rate multiplied by the amount of such excess.

Class B Interest Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of (i) the Class B Interest Distributable Amount for such Distribution Date plus any outstanding Class B Interest Carryover Shortfall from the immediately preceding Distribution Date plus interest on such outstanding Class B Interest Carryover Shortfall, to the extent permitted by law, at the Class B Pass Through Rate from and including such immediately preceding Distribution Date to but excluding the current Distribution Date, over (ii) the amount of interest distributed to Class B Certificateholders on such current Distribution Date.

Class B Interest Carryover Shortfall means, with respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class B Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class B Notes pursuant to Section 2.7(b) of the Indenture (or paid to the Class B Notes in respect of interest on such Distribution Date pursuant to Section 2.7(e) of the Indenture).

Class B Interest Carryover Shortfall means, with respect to any Payment Date, (i) the excess of the Class B Interest Distributable Amount for the preceding Payment Date over the amount of interest that was actually distributed to Class B Certificateholders on such preceding Payment Date, plus (ii) 30 days of interest on the amount specified in clause (i), to the extent permitted by law, at the Class B Pass-Through Rate.

Class B Interest Carryover Shortfall means, with respect to any Distribution Date, the excess of the sum of the Class [B] Interest Distributable Amount for the preceding Distribution Date and any outstanding Class [B] Interest Carryover Shortfall on such preceding Distribution Date, over the amount in respect of interest that Holders of the Class [B] Certificates actually received on such preceding Distribution Date, plus 30 days' interest on such excess, to the extent permitted by law, at the Class [B] Pass-Through Rate.

Class B Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the Class B Interest Distributable Amount for the preceding Payment Date over the amount that was actually distributed in respect of interest on the Class B Notes on such preceding Payment Date, plus, to the extent permitted by law, an amount equal to one-twelfth of the product of (i) the Class B Interest Rate and (ii) such excess.

Class B Interest Carryover Shortfall means, as of the close of any Distribution Date, the excess of the Class B Interest Distributable Amount for such Distribution Date and any outstanding Class B Interest Carryover Shortfall from the preceding Distribution Date, plus interest on such outstanding Class B Interest Carryover Shortfall, to the extent permitted by law, at the Class B Pass-Through Rate from such preceding Distribution Date through the current Distribution Date (calculated on the basis of a 360-day year consisting of twelve 30-day months), over the amount of interest that the Holders of the Class B Certificates actually received pursuant to Section 4.6(c)(vi) on such current Distribution Date.