Class B Notes definition

Class B Notes has the meaning assigned to such term in the Indenture.

Class B Notes means the Class of Auto Loan Asset Backed Notes designated as Class B Notes, issued in accordance with the Indenture.

Class B Notes means any one of the Notes executed by the Issuer and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-2.

Examples of Class B Notes in a sentence

• With respect to each of the Class M Notes, the Class B Notes and the MAC Notes, such reporting information shall be in a form substantially similar to, and include the information listed in, the sample forms provided in Exhibit J attached hereto.

• By purchasing the Class B Notes, Holders agree to treat such Class B Notes as notional principal contracts for U.S. federal income tax purposes (except for U.S. withholding tax purposes) and, as a result, as (i) a deemed loan and (ii) an on-market swap, each of which is tax accounted for in the manner described in the Offering Circular, unless such Holders are required to treat the Class B Notes in some other manner pursuant to a Final Tax Determination.

• The information must be furnished in the time and manner specified by applicable law or as reasonably requested by Freddie Mac (including, publishing the monthly tax information on a website at least quarterly within 30 days after the end of each calendar quarter (except with respect to the fair market value information for the Class B Notes, which information is published within 30 days after the end of the calendar year).

• Class Note Interest Rate Initial Note Balance Class A-1[a] Notes [_]% $[_] [Class A-1b Notes] [Compounded SOFR* + [_]%] [$[_]] Class A-2 Notes [_]% $[_] Class A-3 Notes [_]% $[_] Class B Notes [_]% $[_] Class C Notes [_]% $[_] Class D Notes [_]% $[_] Class E Notes [_]% $[_] _______________ * Upon the occurrence of a Benchmark Transition Event, Compounded SOFR will be replaced by the appropriate Benchmark Replacement as set forth in Section 2.16 of this Indenture.

• Interest on the Notes for each Interest Period will be calculated on the basis of [(i)] in the case of the Class A-1[a] Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes, a 360-day year consisting of twelve 30-day months [and (ii) in the case of the Class A-1b Notes, a 360-day year and the actual number of days elapsed in the related Interest Period].

More Definitions of Class B Notes

Class B Notes means the 2.57% Asset Backed Notes, Class B, substantially in the form of Exhibit B to the Indenture.

Class B Notes means the Class B Asset Backed Notes, substantially in the form of Exhibit B.

Class B Notes means the $ Class B % Asset Backed Notes issued by the Issuer, substantially in the form of Exhibit B to the Indenture.

Class B Notes. The 2.40% Asset Backed Notes, Class B in the initial aggregate principal balance of $11,760,000 issued pursuant to the Indenture.

Class B Notes means the 2.50% Class B Asset-backed Notes issued by the Issuer pursuant to the Indenture in the initial aggregate principal amount of $40,600,000.

Class B Notes means the [__]% Asset Backed Notes, Class B, substantially in the form of Exhibit A-6.

Class B Notes means any one of the Notes executed by the Owner Trustee, on behalf of the Issuer, and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-3.