Insured Expenses. Expenses covered by an Insurance Policy or any other insurance policy with respect to the Mortgage Loans.
Insured Expenses. 11 Insurer..........................................................................................................11
Insured Expenses. Expenses covered by an Insurance Policy. Interest Accrual Period ----------------------- With respect to the Adjustable Rate Certificates and with respect to the interests in REMIC 1 and REMIC 2, and any Distribution Date, the period commencing on the Distribution Date in the calendar month prior to the month of such Distribution Date (or on the Closing Date with respect to the first Distribution Date) and ending on the day preceding such Distribution Date. With respect to the Fixed Rate Certificates and any Distribution Date, the calendar month preceding the month of such Distribution Date. Interest Distribution Amount ---------------------------- With respect to any Distribution Date and each Class of the Offered Certificates, the amount of interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the related Class Certificate Balance, reduced by such Class' pro rata share of the amount of (a) Net Prepayment Interest Shortfalls and (b) Relief Act Reductions incurred on the Loans during the related Due Period (each such Class' pro rata share to be based on the amount of interest to which such Class would have been entitled notwithstanding such Net Prepayment Interest Shortfalls and Relief Act Reductions). Investment Letter ----------------- As defined in Section 5.02(b). Latest Possible Maturity Date ----------------------------- The Distribution Date following the third anniversary of the scheduled maturity date of the Loan having the latest scheduled maturity date as of the Cut-off Date. Last Scheduled Distribution Date -------------------------------- The Distribution Date in August 2035. LIBOR ----- As of any LIBOR Determination Date, the London interbank offered rate for one-month United States dollar deposits which appears in the Moneyline Telerate Page 3750 as of 11:00 a.m., London time, on that date. If the rate does not appear on Moneyline Telerate Page 3750, the rate for that day will be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m. (London time), on that day to prime banks in the London interbank market. The Trustee will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate for that day will be the arithmetic mean of the quotations (rounded upwards if necessary to the nearest whole multiple of 1/16%). If few...
