Modification Excess definition

Modification Excess. With respect to each Payment Date and any Reference Obligation that has experienced a Modification Event, the excess, if any, of: (a) one-twelfth of the Current Accrual Rate multiplied by the interest bearing unpaid principal balance (the “UPB”) of such Reference Obligation; over (b) one-twelfth of the Original Accrual Rate multiplied by the UPB of such Reference Obligation.
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Modification Excess means, with respect to each Premium Payment Date and any Reference Obligation that has experienced a Modification Event, the excess, if any, of:
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Modification Excess means, with respect to each Premium Payment Date (or with respect to the Loan Acquisition Period, for purposes of calculating the Loan Acquisition Period Loss Amount), any Covered Obligation that has experienced a Modification Event, the excess, if any, of:
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Examples of Modification Excess in a sentence

  • Modification Loss AmountWith respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • If Excess Flag is set, then Modification Excess is nullified, there is no Modification Shortfall and the Modification Loss Amount is zero.

  • Modification Loss AmountWith respect to each Reference Pool and any Payment Date, means the excess, if any, of the aggregate Modification Shortfall for all Corresponding Reference Obligations for such Payment Date over the aggregate Modification Excess for all Corresponding Reference Obligations for such Payment Date.

Related to Modification Excess

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Permit modification means a revision to a Title V operating permit that cannot be accomplished under the provisions for administrative permit amendments found at rule 567—22.111(455B). A permit modification for purposes of the acid rain portion of the permit shall be governed by the regulations pertaining to acid rain found at rules 567—22.120(455B) to 567—22.147(455B). This definition of “permit modification” shall be used solely for purposes of this chapter governing Title V operating permits.

  • Modification Gain Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Excess over the aggregate Modification Shortfall for such Payment Date.

  • Contract Modification means any changes in the terms or provisions of the Contract which are reduced to writing and fully executed by both parties.

  • Cross-Series Modification means a modification involving (i) the Bonds or any agreement governing the issuance or administration of the Bonds, and (ii) the debt securities of one or more other series or any agreement governing the issuance or administration of such other debt securities.

  • Substantial modification means modification of a relevant source that results in a significant increase in emissions, excluding any change in emissions resulting from by-product recovery. It shall be a matter for the Party to decide whether a modification is substantial or not;

  • Major modification means any physical change in or change in the method of operation of a major stationary source that would result in a significant emissions increase of a regulated NSR pollutant and a significant net emissions increase of that pollutant from the major stationary source.