Subordinate Note definition

Subordinate Note means each B Note.

Subordinate Note means the promissory note or other evidence of the Subordinate Indebtedness and any replacement of the Subordinate Note. [PROVISION FOR SOFT DEBT]

Subordinate Note means each of Note B-1 and Note B-2.

Examples of Subordinate Note in a sentence

• No Subordinate Note shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934.

• The Subordinate Notes and the rights of the Subordinate Noteholder to receive payments of interest, principal and other amounts with respect to any such Subordinate Note shall at all times be junior, subject and subordinate to the A Notes and the Note A Holders to receive payments of interest, principal and other amounts with respect to such A Notes as set forth herein.

• No expenses incurred in connection with preparing or recording any instrument of satisfaction or deed of reconveyance shall be chargeable to a Collection Account, any Companion Note Custodial Account, any Subordinate Note Custodial Account or the Distribution Account.

• The Subordinate Note and the rights of the Subordinate Noteholder to receive payments of interest, principal and other amounts with respect to such Subordinate Note shall at all times be junior, subject and subordinate to the A Notes and the Note A Holders to receive payments of interest, principal and other amounts with respect to such A Notes as set forth herein.

• A failure to pay principal of and premium, if any, or interest on this Subordinate Note will not constitute an Event of Default under the Indenture if any Senior Obligation is Outstanding.

More Definitions of Subordinate Note

Subordinate Note. Any Class M1, Class M2, Class M3, Class M4, Class M5, Class M6 or Class M7 Note.

Subordinate Note. Any Class M or Class B Note.

Subordinate Note. Any Class M-1 or Class M-2 Note.

Subordinate Note means the B Note.

Subordinate Note. Any [Class MF-1], [Class MF-2], [Class MF-3], [Class MF-4], [Class MF-5], [Class MF-6], [Class MF-7], [Class MF-8], [Class BF], [Class MV-1], [Class MV-2], [Class MV-3], [Class MV-4], [Class MV-5], [Class MV-6], [Class MV-7], [Class MV-8] or [Class BV] Note.

Subordinate Note means a Class B Floating Rate Asset-Backed Subordinate Note issued pursuant to the Indenture, substantially in the form of Exhibit A-4 thereto.

Subordinate Note has the meaning provided in the Recitals hereto. “Monetary Cure Period” has the meaning provided in Section 11(a) hereof.