Class C Deferred Interest definition

Class C Deferred Interest means, with respect to the Class C Notes, any interest due on such Notes which is not available to be paid as a result of the operation of the Priority of Payments on any Distribution Date and which is deferred and added to the Aggregate Outstanding Principal Amount of the Class C Notes until the Distribution Date on which such interest is available to be paid in accordance with the Priority of Payments pursuant to Section 2.6(a).

Class C Deferred Interest means, on any Interest Payment Date, the interest deferred on the Class C Notes as set out in Condition 6(c)(Deferral of Interest).

Class C Deferred Interest means an amount equal to the sum of (i) if such Payment Date occurs during a Sequential Interest Amortization Period, interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class C Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class C Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.

Examples of Class C Deferred Interest in a sentence

• Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest and Class E Deferred Interest shall only become payable by the Issuer to the extent that Interest Receipts and/or Principal Receipts are available to make such payment in accordance with the Pre-Enforcement Waterfall.

• For the avoidance of doubt, any Class B Deferred Interest, Class C Deferred Interest, Class D Deferred Interest or Class E Deferred Interest that is not paid in accordance with the preceding sentence shall remain part of the aggregate Principal Amount outstanding of such Class of Notes.

• Upon the payment of Class C Deferred Interest or Class D Deferred Interest, as the case may be, on any subsequent Payment Date, the Class C Deferred Interest or Class D Deferred Interest, as the case may be, will be reduced by the amount of such payment.

• The Class C Deferred Interest and the Class D Deferred Interest shall only become payable by the Issuer in accordance with Conditions 3(b)(i) and 3(b)(iii) to the extent that Interest Proceeds or Principal Proceeds are available to make such payment in accordance with the Priorities of Payments.

• Any payment of principal of the Class C Notes, Class D Notes or Class E Notes shall be deemed to be applied first to the portion of principal constituting Class C Deferred Interest, Class D Deferred Interest or Class E Deferred Interest, as applicable.

More Definitions of Class C Deferred Interest

Class C Deferred Interest. The meaning specified in Section 2.7(d) hereof.

Class C Deferred Interest means, with respect to the Class C Notes, any interest due on such Notes which is not available to be paid as a result of the operation of the Priority of Payments on any Distribution Date and which is deferred and added to the Aggregate Outstanding Amount of the Class C Notes until the Distribution Date on which such interest is available to be paid in accordance with the Priority of Payments pursuant to Section 2.6(a).

Class C Deferred Interest means with respect to any Distribution Date, as long as any Class A Notes or Class B Notes are outstanding, the shortfall (if any) in the payment of accrued and unpaid interest on the Class C Notes with respect to such Distribution Date or any previous Distribution Date, in each case to the extent not previously paid.

Class C Deferred Interest means the amount of interest on the Class C Notes which is not paid when due and payable in accordance with the Priority of Payments.

Class C Deferred Interest means, on any Payment Date, an amount equal to the amount of unpaid interest in respect of the Class C Notes on such Payment Date.

Class C Deferred Interest means, with respect to the Class C Notes and any Payment Date that occurs during a Sequential Interest Amortization Period when the Class A Notes or Class B Notes are Outstanding, the sum of (i) interest accrued during the related Interest Accrual Period at the related Note Rate on the Outstanding Note Balance of the Class C Notes immediately prior to such Payment Date and (ii) the amount of unpaid Class C Deferred Interest from prior Payment Dates plus, to the extent permitted by law, interest thereon at the related Note Rate.

Class C Deferred Interest means at any time the aggregate accrued interest in respect of the Class C Notes unpaid at that time (including interest on Class C Deferred Interest), payment of which is deferred to subsequent Mezzanine Payment Dates to and including the Class C Maturity Date pursuant to Condition 6.4(c) (Deferral of Class C Interest);