Distributable Interest definition

Distributable Interest means, with respect to any REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest for any Distribution Date, the sum of (A) Accrued Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, pursuant to Section 6.7, and (2) in the case of each of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E, the aggregate amount in respect of the Class of Principal Balance Certificates (other than the Exchangeable Certificates) or EX XXXXX III Regular Interest, as applicable, with the same alphabetic designation for such Distribution Date described in clause (A)(2) and clause (A)(3) of the definition of “Distributable Certificate Interest”, plus (B) if such Distribution Date is subsequent to the initial Distribution Date, any Unpaid Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, for such Distribution Date, plus (C) in the case of a REMIC II Regular Interest, if the REMIC II Principal Amount of such REMIC II Regular Interest is increased on such Distribution Date in accordance with the definition of “REMIC II Principal Amount” in conjunction with an increase in the Aggregate Certificate Balance of the Class of Corresponding Certificates (or (i) in the case of REMIC II Regular Interest A-S, REMIC II Regular Interest B or REMIC II Regular Interest C, an increase in the Certificate Balance of the EX XXXXX III Regular Interest with the same alphabetic designation and (ii) in the case of REMIC II Regular Interest A-3FL, an increase in the Certificate Balance of the Swap REMIC III Regular Interest with the same alphabetic designation), the total amount of interest at the applicable Pass-Through Rate that would have accrued and been distributable with respect to the amount by which the related REMIC II Principal Amount was so increased, if such REMIC II Principal Amount had not been reduced by that amount in connection with the allocation of Collateral Support Deficits in the first place and assuming that the reinstatement of REMIC II Princi...
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Distributable Interest means, with respect to any REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest for any Distribution Date, the sum of (A) Accrued Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such REMIC I Regular Interest, REMIC II Regular Interest or
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Distributable Interest means, with respect to any REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest for any Distribution Date, the sum of (A) Accrued Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, pursuant to Section 6.7, and (2) in the case of each of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E, the aggregate amount in respect of the Corresponding Class of Certificates for such Distribution Date described in clause (A)(2) and clause (A)(3) of the definition of “Distributable Certificate Interest”, plus (B) if such Distribution Date is subsequent to the initial Distribution Date, any Unpaid Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as
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Examples of Distributable Interest in a sentence

  • On each Distribution Date, the portion of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date allocable to any Principal Prepayment of any Mortgage Loan during the related Collection Period shall be allocated to the Corresponding REMIC I Regular Interest to reduce the Distributable Interest for such REMIC I Regular Interest in accordance with the definition of “Distributable Interest”.

  • On each Distribution Date, the amount of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date shall be allocated among the respective REMIC II Regular Interests, pro rata in proportion to the Accrued Interest for each REMIC II Regular Interest for such Distribution Date and shall reduce Distributable Interest for each REMIC II Regular Interest in accordance with the definition of “Distributable Interest”.

  • On each Distribution Date the Upper-Tier REMIC Class C Interest shall accrue interest in an amount equal to the Class C Distributable Interest Amount.

  • For any Payment Date and any class of notes, the quotient of (i) the product of (a) the Distributable Interest Amount for such Payment Date multiplied by (b) the quotient of (I) 360 divided by (II) the actual number of days in the Interest Accrual Period, divided by (ii) the aggregate Class Note Balance of all classes of notes on the first day of the Interest Accrual Period (after taking into account payments of principal on such day).

  • The payment of such Distributable Interest shall be made, or shall commence, as soon as reasonably practicable following the end of the calendar month in which occurs the Participant's Settlement Date.

  • For any Payment Date, the lesser of (i) the sum of (a) the excess of (x) the Distributable Interest Amount for such Payment Date over (y) the sum of interest payable on the notes on such Payment Date and (b) the amount of any prepayment penalties collected during the related Prepayment Period and (ii) the Overcollateralization Deficiency for such Payment Date.

  • The Distribution Account shall, upon a Participant's Settlement Date, be credited with the Participant's Distributable Interest as determined pursuant to Section 5.01 and his other Accounts charged accordingly.

  • A Participant may elect the form of distribution in which the Participant's Distributable Interest will be paid to such Participant or his Beneficiary, and may revoke such election and make a new election, at any time prior to the Participant's Settlement Date.

  • The Account established and maintained for a Participant with respect to the Participant's Distributable Interest as of his Settlement Date.

  • A Participant's Distributable Interest shall be sum of: (a) an amount equal to the sum of the value of the Shadow Units allocated to his Shadow Company Stock Fund Account as of the Participant's Settlement Date; and (b) the total amount of Deferred Compensation allocated to his Prime Rate Fund Account as of the Participant's Settlement Date.


More Definitions of Distributable Interest

Distributable Interest means, with respect to any REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest for any Distribution Date, the sum of (A) Accrued Interest in respect of such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, pursuant to Section 6.7, and (2) in the case of each of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular
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Distributable Interest means, in respect of an Accrual Period with respect to the Euro Notes, Sterling Notes or USD Notes, as applicable, all amounts received by the Issuer in the Applicable Currency constituting (i) interest paid by the Obligors (or on their behalf) in respect of the Assets, (ii) interest paid by the issuers or obligors of Eligible Investments invested in with interest proceeds or principal proceeds on deposit in the Collection Account, (iii) accrued interest on an Asset received in respect of the sale of such Asset, (iv) accrued interest received by the Issuer in respect of balances standing to the credit of the Collection Account, (v) all amendments and waiver fees, all broken funding costs and late payment fees, all commitment fees and all other fees and commissions received by the Issuer (other than fees and commissions received in connection with the restructuring, workout or default of the Assets and Eligible Investments) and(vi) any other amounts received by the Issuer in respect of the Portfolio which do not constitute Distributable Principal, and, with respect to each Payment Date, means all amounts standing to the credit of the Collection Account to be applied as interest in accordance with the Priority of Payments—Distributable Interest on such Payment Date; provided that Distributable Interest shall be reduced by an amount equal to the Issuer's Profit Fee, as applicable.
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Distributable Interest. With respect to any Distribution Date, as to any Class of Sub-Pool I Certificates or Sub Pool II Certificates, the Accrued Interest in respect thereof for such Distribution Date, net of the portion of (i) any Net Aggregate Prepayment Interest Shortfall for such Distribution Date allocable to such Class of Certificates pursuant to Section 1.03, (ii) in the case of any Sub-Pool Certificates, any Aggregate Uncertificated Negative Amortization for such Distribution Date allocable to such Class of Certificates pursuant to Section 1.03 and (iii) any Net Aggregate Relief Act Shortfall for such Distribution Date allocable to such Class of Certificates pursuant to Section 1.03. With respect to any Distribution Date, as to any Uncertificated Regular Interest, the Accrued Interest in respect thereof for such Distribution Date, net of the portion of (i) any Net Aggregate Prepayment Interest Shortfall for such Distribution Date allocable to such Uncertificated Regular Interest pursuant to Section 1.03, (ii) in the case of any of the Uncertificated Sub-Pool I or Sub-Pool II Regular Interests, any Aggregate Mortgage Asset Negative Amortization for such Distribution Date allocable to such Uncertificated Regular Interest pursuant to Section 1.03 and (iii) any Net Aggregate Relief Act Shortfall for such Distribution Date allocable to such Uncertificated Regular Interest pursuant to Section 1.03. With respect to any Distribution Date, as to any Stripped Interest Component, the Accrued Interest in respect thereof for such Distribution Date, net of the portion of (i) any Net Aggregate Prepayment Interest Shortfall for such Distribution Date allocable to such Stripped Interest Component pursuant to Section 1.03 and (ii) any Net Aggregate Relief Act Shortfall for such Distribution Date allocable to such Stripped Interest Component pursuant to Section 1.03.
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Related to Distributable Interest

  • Distributable Income means, for any period, the net income of Centurion Apartment REIT, including income earned from its proportionate interest under the Rollover Agreement and its applicable consolidated Subsidiaries for such period set out in its consolidated financial statements as determined in accordance with GAAP, subject to certain adjustments, including: (a) adding back the following items: depreciation, amortization (except for amortization of deferred financing costs, future income tax expense, losses on dispositions of assets and amortization of any net discount on long-term debt assumed from vendors of properties at rates of interest less than fair value); and (b) deducting the following items: future income tax credits, interest on convertible debentures to the extent not already deducted in computing net income, gains on dispositions of assets and amortization of any net premium on long- term debt assumed from vendors of properties at rates of interest greater than fair value and any other adjustments determined by the Trustees in their discretion.

  • Available Interest With respect to any Distribution Date, the sum of the following amounts with respect to the prior Monthly Period:

  • Distributable Items means, as prescribed by CRD IV, the amount of the profits at the end of the last financial year plus any profits brought forward and reserves available for that purpose before distributions to holders of own funds instruments less any losses brought forward, profits which are non-distributable pursuant to provisions in legislation or the institution’s by-laws and sums placed to non-distributable reserves in accordance with applicable national law or the statutes of the institution, those losses and reserves being determined on the basis of the individual accounts of the institution and not on the basis of the consolidated accounts, or any successor provision thereto;

  • Distributable Funds with respect to any month or other period, as applicable, shall mean an amount equal to the Cash Flow of the Company for such month or other period, as applicable, as reduced by reserves for anticipated capital expenditures, future working capital needs and operating expenses, contingent obligations and other purposes of the Company or any Subsidiary, the amounts of which shall be reasonably determined from time to time by the Management Committee.

  • Class A Interest Distributable Amount means, with respect to any Distribution Date and each class of Class A Notes, an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class A Notes at the related Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the related Class A Interest Carryover Shortfall for the current Distribution Date.

  • Class X Distributable Amount On any Distribution Date, (i) as a distribution in respect of interest, the amount of interest that has accrued on the Class X Interest and not applied as an Extra Principal Distribution Amount on such Distribution Date, plus any such accrued interest remaining undistributed from prior Distribution Dates, plus, without duplication, (ii) as a distribution in respect of principal, any portion of the principal balance of the Class X Interest which is distributable as an Overcollateralization Reduction Amount, minus (iii) any amounts paid as a Basis Risk Payment.

  • Class B Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class B Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.

  • Interest Distributable Amount With respect to any Distribution Date and each Class of Certificates, the sum of (i) the Monthly Interest Distributable Amount for that Class and (ii) the Unpaid Interest Shortfall Amount for that Class.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Capitalized Interest Account The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

  • Distributable Amount has the meaning set forth in Section 5.02(d) hereof.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class A Interest Distribution Amount means, as to each Class of Class A Certificates and any Remittance Date, the sum of the amounts specified in clause (a)(i), (a)(ii), (a)(iii), (a)(iv), (a)(v) and (a)(vi), as appropriate, of the definition of the term "Class A Formula Distribution Amount" and the Unpaid Class A Interest Shortfall, if any, with respect to such Class.

  • Accrual Distribution Amount As to any Distribution Date prior to the applicable Accretion Termination Date and any Class of Accrual Certificates, an amount equal to the sum of (i) the Class A Interest Percentage of such Class of Accrual Certificates of the Current Class A Interest Distribution Amount and (ii) the Class A Interest Shortfall Percentage of such Class of Accrual Certificates of the amount distributed in respect of the Classes of Class A Certificates pursuant to Paragraph second of Section 4.01(a)(i) on such Distribution Date. As to any Distribution Date on or after the applicable Accretion Termination Date, zero.

  • Distributable Profits has the meaning assigned to it in the LLC Agreement.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.