Net Deferred Interest. With respect to each Loan Group and any Distribution Date, the greater of (i) the excess, if any, of the Deferred Interest for the related Due Date over the aggregate amount of any principal prepayments in part or in full received during the related Prepayment Period and (ii) zero.
Net Deferred Interest. With respect to each Distribution Date, an amount equal to the excess, if any, of the Deferred Interest that accrued on the Mortgage Loans from the preceding Due Date to the Due Date related to that Distribution Date over the Principal Prepayment Amount for that Distribution Date.
Net Deferred Interest. With respect to each Loan Group and Distribution Date, the excess, if any, of the amount of Deferred Interest that accrued on the Mortgage Loans in that Loan Group from the preceding Due Date to the Due Date in the month of such Distribution Date, over any Principal Prepayment Amount for those Mortgage Loans during the related Prepayment Period.
Examples of Net Deferred Interest in a sentence
On each Distribution Date, any amount of Net Deferred Interest allocable to a Class of Certificates (other than the Class X Certificates) on such Distribution Date will be added as Principal to the outstanding Class Certificate Principal Balance of such Class of Certificates.
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates (or, with respect to the Class X Certificates, the PO Components) in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class calculated at the applicable Adjusted Cap Rate for such Class.
With respect to the Class X Certificates and each Distribution Date, any amount of Net Deferred Interest added to the Principal Balances of the related Mortgage Loans that is allocated to the Class X Certificates on such Distribution Date will be added as principal to the outstanding Component Principal Balances of the PO-1 Component and the PO-2 Component based upon the amount of Deferred Interest attributable to the Mortgage Loans in the related Loan Group.
More Definitions of Net Deferred Interest
Net Deferred Interest. On any Distribution Date, Deferred Interest on the Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Liquidation Proceeds and amounts received pursuant to Section 2.04 and 4.07, in that order, included in the Available Distribution Amount for such Distribution Date and available to make principal distributions on the Certificates on that Distribution Date.
Net Deferred Interest. On any Distribution Date, for each Loan Group, Deferred Interest on the related Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Net Liquidation Proceeds, Repurchase Proceeds and scheduled principal payments, in that order, included in Available Funds for such Loan Group and such Distribution Date and available to be distributed on the Certificates on such Distribution Date. With respect to any Class of Class A, Class B or Grantor Trust Certificates as of any Distribution Date, the Net Deferred Interest will be an amount equal to the product of (1) the difference, if any, between (a) the lesser of (i) the Pass-Through Rate for such Class without regard to the related Net Rate Cap on such Distribution Date and (ii) the related Net Rate Cap on such Distribution Date and (b) the Adjusted Rate Cap for such Distribution Date, (2) the Current Principal Amount of such Certificate immediately prior to such Distribution Date, and (3) the actual number of days in such Interest Accrual Period divided by 360.
Net Deferred Interest. On any Distribution Date, Deferred Interest on the related Mortgage Loans during the related Due Period net of Principal Prepayments available to be distributed on the Certificates on that Distribution Date.
Net Deferred Interest. On any Distribution Date, Deferred Interest on the Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Net Liquidation Proceeds, Repurchase Proceeds and Stated Principal, in that order included in Available Funds for such Distribution Date and available to make principal distributions on the Certificates on that Distribution Date. With respect to any Class of Certificates (other than the Class B-IO, Class XP and Residual Certificates) as of any Distribution Date will be an amount equal to the product of (1) the difference, if any between (a) the lesser of (i) the Pass-Through Rate for such Class, without regard to the Net Rate Cap on such Distribution Date and (ii) the weighted average of the Net Rate on the Mortgage Loans and (b) the Adjusted Rate Cap for such Distribution Date, (2) the Current Principal Amount of the Certificate immediately prior to such Distribution Date, and (3) the actual number of days in such Interest Accrual Period divided by 360.
Net Deferred Interest. With respect to each Loan Group or Subgroup and Distribution Date, an amount equal to the excess, if any, of the Deferred Interest that accrued on the Mortgage Loans in that Loan Group or Subgroup for the related Due Period over the sum of the amounts described in clauses (a) through (f) of the definition of Principal Amount for those Mortgage Loans received during the related Due Period and Prepayment Period.
Net Deferred Interest. With respect to any Distribution Date, the excess, if any, of Deferred Interest that accrued on the related Mortgage Loans during the related Due Period, over the sum of (i) the amount of Principal Prepayments received on the Mortgage Loans during the Prepayment Period related to that Distribution Date and (ii) interest received on the Mortgage Loans in excess of the Accrued Certificate Interest for all Classes of Offered Certificates (other than the Residual Certificates).
Net Deferred Interest. With respect to the Negative Amortization Mortgage Loans and any Distribution Date, the excess, if any, of (i) the Deferred Interest that accrued on such Mortgage Loans and was due during the related Due Period, over (ii) the amount of unscheduled collections of principal included in the Group I Available Distribution Amount for that Distribution Date.