Class C Interest definition

Class C Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

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

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

Examples of Class C Interest in a sentence

• In 2010, estates could elect either a 0% estate tax without a stepped-up basis or a 35% estate tax with a basis step up.make annual exclusion gifts (currently $15,000 per year to an unlimited number of persons) to$50,000 per year.

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

• For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

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

• If there are any Class B Interest Amount Arrears or Class C Interest Amount Arrears on any Interest Payment Date (other than the Final Maturity Date), such amounts shall not be regarded as payable on such date and shall accrue interest during the Interest Period in which such Interest Payment Date falls in accordance with Condition 7.12 (Default Interest).

More Definitions of Class C Interest

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

Class C Interest means the undivided Class C participation interest in the Joint Venture, which shall entitle the JV Partner holding such Class C interest to receive allocations and distributions from time to time as provided in this Agreement.

Class C Interest means, with respect to any Partner, the interest in the Partnership which is reflected by that Partner’s Class C Amount, Restated Class C Amount, Class C Capital Contributions and its right to all residual Net Income, Net Loss and distributions not otherwise allocated to the Class B interests, plus any voting or other rights related to these interests.

Class C Interest. An uncertificated interest in the Trust Fund representing the right to distributions as set forth herein and evidencing (i) a Regular Interest in REMIC II and (ii) the obligation to pay the Net WAC Cap Carryover Amount.

Class C Interest means an Interest in the Company designated as Class C Interest and having such rights, preferences and obligations of Class C Interests as specified in this Agreement. Class C Interests are owned by Interest Holders as set forth on Schedule A hereto, as amended from time to time.

Class C Interest. Any of the Class I-C Interest or Class II-C Interest.

Class C Interest means a fractional undivided interest in the ---------------- Trust which shall consist of the right to receive, to the extent necessary to make the required payments to a Class C Interest Holder under this Supplement and under the Class C Supplemental Agreement, the portion of Collections allocable thereto under the Agreement and this Supplement, funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and, subject to the rights of the other Series 1998-1 Certificateholders with respect thereto, funds on deposit in the Cash Collateral Account and funds on deposit in the Class C Spread Account available pursuant to the Class C Supplemental Agreement.