Basis Risk Carryover Amount. With respect to each Class of LIBOR Certificates, as of any Distribution Date, the sum of (A) if on such Distribution Date the Interest Rate for any Class of LIBOR Certificates is based upon the Group I Available Funds Cap, the Group II Available Funds Cap or the Class M Available Funds Cap, as applicable, the excess of (i) the amount of interest such Class of Certificates would otherwise be entitled to receive on such Distribution Date had such Interest Rate been calculated as the sum of LIBOR and the applicable Interest Margin on such Class of Certificates for such Distribution Date, over (ii) the amount of interest payable on such Class of Certificates, in the case of any Group I Certificates, based on the Group I Available Funds Cap, in the case of any Group II Certificates, based on the Group II Available Funds Cap and in the case of any Class of Class M Certificates, based on the Class M Available Funds Cap and (B) the portion of any such excess described in clause (A) for such Class of Certificates from all previous Distribution Dates not previously paid, together with interest thereon at a rate equal the applicable Interest Rate for each such Class of Certificates for such Distribution Date.
Basis Risk Carryover Amount. With respect to each Class of LIBOR Certificates, as of any Distribution Date, the sum of (A) if on such Distribution Date the Interest Rate for any Class of LIBOR Certificates is based upon the Group I Available Funds Cap, the Group II Available Funds Cap or the Class M Available Funds Cap, as applicable, the excess of (i) the amount of interest such Class of Certificates would otherwise be entitled to receive on such Distribution Date had such rate been calculated (x) as the sum of LIBOR and the applicable Interest Margin on such Class of Certificates for such Distribution Date, over (ii) the amount of interest payable on such Class of Certificates at, with respect to the Class I-A Certificates, the Group I Available Funds Cap, at, with respect to the Class II-A-1, Class II-A-2, Class II-A-3 and Class II-A-4 Certificates, the Group II Available Funds Cap, and at, with respect to any Class M Certificate, the Class M Available Funds Cap, as applicable, for such Distribution Date and (B) the portion of any such excess described in clause (A) for such Class of Certificates from all previous Distribution Dates not previously paid, together with interest thereon at a rate equal the applicable Interest Rate for each such Class of Certificates for such Distribution Date. With respect to the Interest-Only Certificates, as of any Distribution Date, the sum of (A) if on such Distribution Date the Interest Rate of the Interest-Only Certificates is based on the Class A-IO Available Funds Cap, the excess of (i) the amount of interest that the Interest-Only Certificates would otherwise have been entitled to receive on such Distribution Date had the Interest Rate equaled 1.50% per annum over (ii) the amount of interest payable on the Interest-Only Certificates if subject to the Class A-IO Available Funds Cap for such Distribution Date and (B) the portion of such excess described in clause (A) for the Interest-Only Certificates from all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to 1.50% per annum.
Basis Risk Carryover Amount. With respect to any Distribution Date, the sum of the Basis Risk Excess for such Distribution Date and any Basis Risk Excess which remains unpaid from prior Distribution Dates.
Examples of Basis Risk Carryover Amount in a sentence
The ratings on each class of Certificates do not address the likelihood of the payment of any Basis Risk Carryover Amount.
The Trustee shall submit such notice to the Certificate Insurer no later than 12:00 noon New York City time on the Business Day preceding such Distribution Date as a claim for an Insured Amount in an amount equal to the Distribution Account Shortfall (net of any Basis Risk Carryover Amount and Net Interest Shortfall allocable to the Class A Certificateholders and included in the calculation of Distribution Account Shortfall).
As of any Distribution Date and any Class of LIBOR Certificates and the Interest-Only Certificates, the sum of, if applicable, (i) the portion of the Interest Payment Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date (excluding any Basis Risk Carryover Amount with respect to such Class), and (ii) interest on the amount in clause (i) above at the applicable Interest Rate (to the extent permitted by applicable law).
More Definitions of Basis Risk Carryover Amount
Basis Risk Carryover Amount. With respect to the Class [___] Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class [___] Certificates would have been entitled to receive on such Distribution Date had the Pass-Through Rate applicable to the Class [___] Certificates for such Distribution Date been equal to One-Month LIBOR plus [___]% per annum over (y) the amount of interest paid on such Distribution Date at a rate equal to [___]% per annum and (ii) the Basis Risk Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate applicable to the Class [___] Certificates for the most recently ended Interest Accrual Period determined without taking into account the fixed rate set forth in clause (y) above.
Basis Risk Carryover Amount. With respect to each Class of LIBOR Certificates, as of any Distribution Date, the sum of (A) if on such Distribution Date the Interest Rate for any Class of LIBOR Certificates is based upon the Available Funds Cap, the excess of (i) the amount of interest such Class of Certificates would otherwise be entitled to receive on such Distribution Date had such rate been calculated (x) as the sum of LIBOR and the applicable Interest Margin on such Class of Certificates for such Distribution Date, over (ii) the amount of interest payable on such Class of Certificates at the Available Funds Cap for such Distribution Date and (B) the portion of any such excess described in clause (A) for such Class of Certificates from all previous Distribution Dates not previously paid, together with interest thereon at a rate equal the applicable Interest Rate for each such Class of Certificates for such Distribution Date.
Basis Risk Carryover Amount. As to any Distribution Date on which the Class A Pass-Through Rate or the Class B Pass-Through Rate is calculated based on the Alternate Certificate Rate, the excess of:
Basis Risk Carryover Amount. As of any Distribution Date and for the Class --------------------------- A Certificates is equal to the sum of (a) if on such Distribution Date the Pass- Through Rate for the Class A Certificates is based upon the Available Funds Cap, the excess of (i) the amount of interest the Class A Certificates would otherwise be entitled to receive on such Distribution Date had such rate been calculated at the Formula Pass-Through Rate for such Distribution Date, over (ii) the amount of interest payable on the Class A Certificates at the Available Funds Cap for such Distribution Date and (b) the unpaid Basis Risk Carryover Amount immediately following the preceding Distribution Date with interest thereon at the Formula Pass-Through Rate applicable to the current Distribution Date. BBA: British Banker's Association. ---
Basis Risk Carryover Amount. With respect to the Class I-A-1 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class I-A-1 Certificates would have been entitled to receive on such Distribution Date had the Pass-Through Rate applicable to the Class I-A-1 Certificates for such Distribution Date been equal to One-Month LIBOR plus 0.42% per annum over (y) the amount of interest paid on such Distribution Date at a rate equal to 5.500% per annum and (ii) the Basis Risk Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate applicable to the Class I-A-1 Certificates for the most recently ended Interest Accrual Period determined without taking into account the fixed rate set forth in clause (y) above.
Basis Risk Carryover Amount. With respect to the Class I-A-1 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class I-A-1 Certificates would have been entitled to receive on such Distribution Date had the applicable Pass-Through Rate for such Distribution Date been equal to One-Month LIBOR plus 0.39% per annum over (y) the amount of interest paid on such Distribution Date at the rate specified in clause (b) or (c) of the definition of Pass-Through Rate applicable to the Class I-A-1 Certificates and (ii) the Basis Risk Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate applicable to the Class I-A-1 Certificates for the most recently ended Interest Accrual Period determined without taking into account the rates set forth in clause (b) or (c) of the definition of Pass-Through Rate applicable to the Class I-A-1 Certificates. With respect to the Class II-A-1 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class II-A-1 Certificates would have been entitled to receive on such Distribution Date had the applicable Pass-Through Rate for such Distribution Date been equal to One-Month LIBOR plus 0.20% per annum over (y) the amount of interest paid on such Distribution Date at a rate equal to 5.50% per annum and (ii) the Basis Risk Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate applicable to the Class II-A-1 Certificates for the most recently ended Interest Accrual Period determined without taking into account the fixed rate set forth in clause (y) of this paragraph.
Basis Risk Carryover Amount. With respect to the Class IV-A-1 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class IV-A-1 Certificates would have been entitled to receive on such Distribution Date had the related fixed rate not been applicable to the Class IV-A-1 Certificates on such Distribution Date over (y) the amount of interest paid on such Distribution Date at the related fixed rate and (ii) the Basis Risk Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate applicable to the Class IV-A-1 Certificates for the most recently ended Interest Accrual Period determined without taking into account the related fixed rate.