Certificate Interest Distribution Amount definition

Certificate Interest Distribution Amount. For each Distribution Date with respect to a Trust, one month’s interest calculated as (a)the product of (x) the Pass-Through Rate and (y) the aggregate Certificate Principal Balance for all outstanding Certificates of that Trust as of the immediately preceding Distribution Date (or in the case of the initial Distribution Date, the original aggregate Certificate Principal Balance) minus (b) in the case of a Trust that holds a Pool of Negative Amortization Mortgage Loans, the aggregate amount of Deferred Interest for all Negative Amortization Mortgage Loans in that Pool that was added to the outstanding principal balances of such Mortgage Loans during the Due Period related to the current Distribution Date; provided, however, that the Master Servicer in calculating or causing to be calculated the amount to be distributed on any Distribution Date will make any adjustments as are necessary to reconcile prior payments made in error.

Certificate Interest Distribution Amount. For each Distribution Date with respect to a Trust, one month’s interest (based on a 360-day year consisting of twelve 30-day months) calculated as (a) the product of (x) the Pass-Through Rate and (y) the aggregate Certificate Principal Balance for all outstanding Certificates of that Trust as of the immediately preceding Distribution Date (or in the case of the initial Distribution Date, the original aggregate Certificate Principal Balance); provided, however, that the Master Servicer in calculating or causing to be calculated the amount to be distributed on any Distribution Date will make any adjustments as are necessary to reconcile prior payments made in error.

Certificate Interest Distribution Amount. For each Distribution Date with respect to a Trust, one month’s interest (based on a 360-day year consisting of twelve 30-day months) calculated as (a) the product of (x) the Pass-Through Rate and (y) the aggregate Certificate Principal Balance for all outstanding Certificates of that Trust as of the immediately preceding Distribution Date (or in the case of the initial Distribution Date, the original aggregate Certificate Principal Balance) minus (b) in the case of a Trust that holds a Pool of Negative Amortization Mortgage Loans, the aggregate amount of Deferred Interest for all Negative Amortization Mortgage Loans in that Pool that was added to the outstanding principal balances of such Mortgage Loans during the Due Period related to the current Distribution Date; provided, however, that the Master Servicer in calculating or causing to be calculated the amount to be distributed on any Distribution Date will make any adjustments as are necessary to reconcile prior payments made in error.

Examples of Certificate Interest Distribution Amount in a sentence

• For each Distribution Date with respect to a Trust, the sum of the Certificate Interest Distribution Amount (determined without giving effect to any Loss Mitigation Alternative or other loan modification) and the Certificate Principal Distribution Amount for that Trust.

• For each Distribution Date with respect to a Trust, the sum of the Certificate Interest Distribution Amount and the Certificate Principal Distribution Amount for that Trust.

More Definitions of Certificate Interest Distribution Amount

Certificate Interest Distribution Amount means, for any Distribution Date, the sum of the Certificate Monthly Interest Amount for such Distribution Date and the Certificate Interest Carryover Shortfall for such Distribution Date.

Certificate Interest Distribution Amount means the amount of interest payable on a Distribution Date to the Holders of the Certificates. Such amount will equal one-twelfth of the product of the Pass-Through Rate and the Certificate Balance as of the preceding Distribution Date, after giving effect to any distributions of principal on the Certificates on such preceding Distribution Date and other reductions in the Certificate Balance on such preceding Distribution Date (or, in the case of the first Distribution Date, on the basis of the original Certificate Balance), for the applicable Interest Accrual Period.

Certificate Interest Distribution Amount means the amount of interest payable on a Distribution Date to the Holders of the Certificates. Such amount will equal (i) one-twelfth of the product of the Pass-Through Rate and the Certificate Balance as of the preceding Distribution Date, after giving effect to any distributions of principal and interest to be made on the Certificates on such preceding Distribution Date and other reductions in the Certificate Balance on such preceding Distribution Date or (ii) in the case of the first Distribution Date, one-twelfth of the product of the Pass-Through Rate and the original Certificate Balance.