Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) if the Pass-Through Rate for such Class for such Distribution Date is limited to the related Net Rate Cap, the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to the related One-Month LIBOR Pass-Through Rate, over (b) the amount of Current Interest that such Class received on such Distribution Date at the related Net Rate Cap for such Distribution Date and (B) the Basis Risk Shortfall Carry Forward Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate the current Distribution Date. Bankruptcy Code: Title 11 of the United States Code.
Basis Risk Shortfall Carry Forward Amount. With respect to the Class A-II Certificates and any Distribution Date, the sum of (a) the aggregate amount of Group II Basis Risk Shortfall for such Class on such Distribution Date plus (b) any Group II Basis Risk Shortfall Carry-Forward Amount for such Class remaining unpaid from the preceding Distribution Date, plus (c) one month's interest on the amount in clause (b) (based on the number of days in the preceding Interest Accrual Period), to the extent previously unreimbursed by Group I Excess Cash Flow pursuant to Section 4.02(c)(xv) or Group II Excess Cash Flow pursuant to Section 4.02(d)(xv) or the Yield Maintenance Agreement Payments, at a rate equal to the related Pass-Through Rate.
Basis Risk Shortfall Carry Forward Amount. With respect to each Class of the Class A Certificates and Class M Certificates and any Distribution Date, as determined separately for each such Class of the Class A Certificates or Class M Certificates, an amount equal to the aggregate amount of Basis Risk Shortfall for such Certificates on such Distribution Date, if any, plus any unpaid Basis Risk Shortfall for such Class of Certificates from prior Distribution Dates, plus interest thereon at the Pass-Through Rate for such Distribution Date, to the extent previously unreimbursed by the Net Monthly Excess Cashflow or the Supplemental Interest Trust.
Examples of Basis Risk Shortfall Carry Forward Amount in a sentence
Any amount paid to the Holders of Class A Certificates and/or Class M Certificates pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amount shall be treated as distributed to the Class CE Certificateholder in respect of the Class CE Certificates and paid by the Class CE Certificateholder to the Holders of the Class A Certificates and/or Class M Certificates.
Any payments to the Holders of the Class A Certificates and/or Class M Certificates in respect of Basis Risk Shortfall Carry Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Code Section 860(G)(a)(1).
Any payments to the Holders of the Class A Certificates and/or Class M Certificates in respect of Basis Risk Shortfall Carry Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (c) below, shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Code Section 860(G)(a)(1).
Any amount paid to the Holders of Class A and/or Class M Certificates pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amount shall be treated as distributed to the Class CE Certificateholder in respect of the Class CE Certificates and paid by the Class CE Certificateholder to the Holders of the Class A and/or Class M Certificates.
Any payments to the Holders of the Class A and/or Class M Certificates in respect of Basis Risk Shortfall Carry Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1).
More Definitions of Basis Risk Shortfall Carry Forward Amount
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and the Class I-A, Class I-M and Class I-B Certificates, the sum of the Basis Risk Shortfall for such Distribution Date and the Basis Risk Shortfall for all previous Distribution Dates not previously paid from any source including Excess Cashflow and payments under the Cap Contracts, together with interest thereon at a rate equal to the lesser of (i) One-Month LIBOR plus the related Margin and (ii) 11.50%, for such Distribution Date. Book-Entry Certificates: Initially, the Senior Certificates and Offered Subordinate Certificates. Business Day: Any day other than (i) a Saturday or a Sunday, or (ii) a day on which the New York Stock Exchange or Federal Reserve is closed or on which banking institutions in any jurisdiction in which the Trustee, the Master Servicer, Custodian, any Servicer or the Securities Administrator are authorized or obligated by law or executive order to be closed. Cap Contract: With respect to any of the Class I-A-1, Class I-A-2, Class I-M-1, Class I-M-2, Class I-B-1, Class I-B-2 or Class I-B-3 Certificates, the respective cap contracts, dated as of September 29, 2006, between the Trustee, on behalf of the Trust for the benefit of the Class I-A-1, Class I-A-2, Class I-M-1, Class I-M-2, Class I-B-1, Class I-B-2 or Class I-B-3 Certificateholders, as the case may be, and the Counterparty, together with any scheduling, confirmations or other agreements related thereto, attached hereto as Exhibit N.
Basis Risk Shortfall Carry Forward Amount. With respect to the Class A-II Certificates and each Distribution Date, the sum of (a) the aggregate amount of Basis Risk Shortfall for such Class on such Distribution Date which is not covered on such Distribution Date by payments from the Reserve Fund plus (b) any Basis Risk Shortfall Carry-Forward Amount for such Class remaining unpaid from the preceding Distribution Date, plus (c) one month's interest on the amount in clause (b) (based on the number of days in the preceding Interest Accrual Period) at a rate equal to the lesser of (i) LIBOR plus the Class A-II Margin for such Distribution Date and (ii) the Maximum Class A-II Rate.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and each Class of Group I Offered Certificates, the sum of the Basis Risk Shortfall for such Distribution Date and the Basis Risk Shortfall for all previous Distribution Dates not previously paid from any source including Excess Cashflow and payments under the Cap Contracts, together with interest thereon at a rate equal to the lesser of (i) One-Month LIBOR plus the related Margin and (ii) 11.50%, for such Distribution Date. Book-Entry Certificates: Initially, the Senior Certificates and Offered Subordinate Certificates. Business Day: Any day other than (i) a Saturday or a Sunday, or (ii) a day on which the New York Stock Exchange or Federal Reserve is closed or on which banking institutions in the jurisdiction in which the Trustee, the Master Servicer, Custodian, any Servicer or the Securities Administrator are authorized or obligated by law or executive order to be closed.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and each Class of Offered Certificates, Basis Risk Shortfalls for all previous Distribution Dates not previously paid from any source including the Excess Cashflow and payments under the Cap Contracts, together with interest thereon at a rate equal to the related Pass-Through Rate for such Class of Offered Certificates for such Distribution Date. Book-Entry Certificates: Initially, all Classes of Certificates other than the Class B-IO, Class XP and the Residual Certificates.
Basis Risk Shortfall Carry Forward Amount. Any Class A Basis Risk Shortfall Carry-Forward Amount or Class M Basis Risk Shortfall Carry-Forward Amount, as applicable.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and each Class of Class A Certificates and Class B Certificates (and with respect to the Grantor Trust Certificates, indirectly through the Underlying Class I-A-2 Certificates), the sum of the Basis Risk Shortfall for such Distribution Date and the Basis Risk Shortfalls for all previous Distribution Dates not previously paid from any source including the Excess Cashflow and payments under the Cap Contracts, together with interest thereon at a rate equal to the related Pass-Through Rate for such Class of Certificates for such Distribution Date. Book-Entry Certificates: Initially, all Classes of Certificates other than the Private Certificates and the Residual Certificates. Business Day: Any day other than (i) a Saturday or a Sunday, or (ii) a day on which the New York Stock Exchange or Federal Reserve is closed or on which banking institutions in any jurisdiction in which the Trustee, the Custodian, the Certificate Insurer or the Servicer are authorized or obligated by law or executive order to be closed. Cap Contract: With respect to each class of Class A Certificates and Class B Certificates (and with respect to the Grantor Trust Certificates, indirectly through the Underlying Class I-A-2 Certificates), the respective cap contracts, dated as of September 29, 2006, between the Trustee, on behalf of the Trust for the benefit of the Holders of the related Certificates, and the related Cap Counterparty, together with any scheduling, confirmations or other agreements related thereto, attached hereto as Exhibit N.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and any Class of Offered Certificates, Basis Risk Shortfalls for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. BANKRUPTCY CODE: Title 11 of the United States Code.