Exchange Note Balance means the Exchange Note Initial Principal Balance, as reduced by amounts distributed on the 20 - Exchange Note under Section 5.1 of the Exchange Note Supplement applied to principal.
Exchange Note Balance means, for an Exchange Note, the initial principal balance minus all amounts paid on the Exchange Note as principal.
Exchange Note Balance means (i) with respect to any Exchange Note that is a revolving note or under which the principal amount can otherwise be increased after the related Exchange Note Issuance Date, the principal balance of such Exchange Note as of the most recent date that the principal balance was increased in accordance with the relevant Basic Documents, as reduced by all amounts distributed on such Exchange Note and allocable to principal since such date or (ii) with respect to all other Exchange Notes, the initial principal balance of such Exchange Note, as reduced by all amounts distributed on such Exchange Note and allocable to principal since the related Exchange Note Issuance Date.
Examples of Exchange Note Balance in a sentence
The amount of interest due on this 2024-2 Exchange Note on each Payment Date will be calculated on the basis of the Exchange Note Balance outstanding on each day of such Exchange Note Interest Period (after giving effect to all payments of principal made on the preceding Payment Date), and will be subject to certain limitations contained in Section 2.4 of the Exchange Note Supplement.
More Definitions of Exchange Note Balance
Exchange Note Balance means, with respect to any Closed-End Exchange Note, the initial principal balance of such Closed-End Exchange Note, as increased by the amount of any Subsequent Exchange Note Increases and as reduced by all amounts distributed on such Closed-End Exchange Note and allocable to principal.