Certificate Insurance Draw Amount definition

Certificate Insurance Draw Amount means, with respect to any Distribution Date (after application of amounts on deposit in the Spread Account), the sum of (a) the amount, if any, by which (i) the aggregate of the full amounts to be distributed to the Holders of the Investor Certificates pursuant to Sections 5.1(a)(ii) and 5.1(a)(iii) of the Agreement exceeds (ii) the amount of Investor Interest Collections on deposit in the Certificate Account on the Business Day preceding such Distribution Date that is available to be applied therefor and (b) the amount, if any, required to reduce the Investor Certificate Principal Balance
Sample 1
Certificate Insurance Draw Amount. As to any Distribution Date, an amount --------------------------------- equal to (after application of amounts on deposit in the Spread Account pursuant to Section 4.4) the sum of (x) the amount by which the amount to be distributed to Investor Certificateholders pursuant to Section 5.1(a)(ii) and (a)(iii) exceeds the amount of Investor Interest Collections on deposit in the Certificate Account on the Business Day preceding such Distribution Date that is available to be applied therefor and (y) the amount, if any, required to reduce the Investor Certificate Principal Balance (after giving effect to all other amounts distributable and allocable to principal on the Investor Certificates on such Distribution Date) to the Invested Amount following such Distribution Date. Notwithstanding the foregoing, as to the earlier of the Stated Maturity Date or the Dissolution Distribution Date, the Certificate Insurance Draw Amount shall equal an amount equal to the sum of (i) any amount calculated pursuant to the preceding sentence and (ii) an amount equal to the remaining Investor Certificate Principal Balance after giving effect to all other amounts distributed to Investor Certificateholders in reduction of the Investor Certificate Principal Balance.
Sample 1Sample 2
Certificate Insurance Draw Amount. As to any Distribution Date, an amount --------------------------------- equal to the sum of (x) the amount by which the amount to be distributed to Investor Certificateholders pursuant to Section 5.1(a)(ii) and (a)(iii) exceeds the amount of Investor Interest Collections on deposit in the Certificate Account on the Business Day preceding such Distribution Date that is available to be applied therefor and (y) the amount, if any, required to reduce the Investor Certificate Principal Balance (after giving effect to all other amounts distributable and allocable to principal on the Investor Certificates on such Distribution Date) to the Invested Amount following such Distribution Date. Notwithstanding the foregoing, as to the earlier of the Stated Maturity Date or the Dissolution Distribution Date, the Certificate Insurance Draw Amount shall equal an amount equal to the sum of (i) any amount calculated pursuant to the preceding sentence and (ii) an amount equal to the remaining Investor Certificate Principal Balance after giving effect to all other amounts distributed to Investor Certificateholders in reduction of the Investor Certificate Principal Balance.
Sample 1

Examples of Certificate Insurance Draw Amount in a sentence

  • Upon receipt of such Certificate Insurance Draw Amount in accordance with the terms of the Certificate Insurance Policy, the Trustee shall deposit such Certificate Insurance Draw Amount in the Certificate Account for distribution to the Investor Certificateholders on the related Distribution Date.


More Definitions of Certificate Insurance Draw Amount

Certificate Insurance Draw Amount. As to any Distribution Date other than the Dissolution Distribution Date, an amount equal to the sum of (x) the amount by which the amount to be distributed to Investor Certificateholders pursuant to Section 5.1(a)(ii) and (a) (iii) exceeds the amount of Investor Interest Collections and the Basis Risk Payment, if any, on deposit in the Certificate Account on the Business Day preceding such Distribution Date that is available to be applied therefor and (y) the amount, if any, required to reduce the Investor Certificate Principal Balance (after giving effect to the distributions of Investor Interest Collections and the Basis Risk Payment, if any, and Investor Principal Collections that are allocable to principal on the Investor Certificates on such Distribution Date) to the Invested Amount following such Distribution Date. Notwithstanding the foregoing, as to the Distribution Date in __________ 20__, an amount equal to the sum of (i) any amount calculated pursuant to the preceding sentence and (ii) an amount equal to the remaining Investor Certificate Principal Balance after giving effect to all other amounts distributed to Investor Certificateholders in reduction of the Investor Certificate Principal Balance.
Sample 1

Related to Certificate Insurance Draw Amount

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Certificate Insurer As defined in the Series Supplement.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Certificate Insurer Default The existence and continuance of any of the following:

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Class A-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class A-1 Certificates.

  • Class A Certificate Group The Group I Class A Certificates or the Group II Class A Certificates, as applicable.

  • Certificate Principal Balance For each Certificate of any Class, the portion of the related Class Principal Balance, if any, represented by such Certificate.

  • Original Certificate Principal Balance With respect to any Class of Certificates, the amount specified for such Class in Section 4.01(d).

  • Class A Certificate Rate means, for any Interest Accrual Period with respect to the Class A Certificates, a per annum rate equal to LIBOR plus 0.11%.

  • Certificate Index With respect to each Distribution Date and the LIBOR Certificates, the rate for one month United States dollar deposits quoted on Telerate Page 3750 as of 11:00 A.M., London time, on the related Interest Determination Date relating to each Class of LIBOR Certificates. If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Trust Administrator after consultation with DLJMC), the rate will be the Reference Bank Rate. If no such quotations can be obtained and no Reference Bank Rate is available, the Certificate Index will be the Certificate Index applicable to the preceding Distribution Date. On the Interest Determination Date immediately preceding each Distribution Date, the Trust Administrator shall determine the Certificate Index for the Accrual Period commencing on such Distribution Date and inform the Master Servicer and each Servicer of such rate.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Special Hazard Loss Amount As of any Distribution Date, an amount equal to $5,477,967.00 minus the sum of (i) the aggregate amount of Special Hazard Losses allocated solely to the Class B Certificates in accordance with Section 4.02(a) and (ii) the Special Hazard Adjustment Amount (as defined below) as most recently calculated. For each anniversary of the Cut-Off Date, the Special Hazard Adjustment Amount shall be calculated and shall be equal to the amount, if any, by which the amount calculated in accordance with the preceding sentence (without giving effect to the deduction of the Special Hazard Adjustment Amount for such anniversary) exceeds the greater of (A) the product of the Special Hazard Percentage for such anniversary multiplied by the outstanding principal balance of all the Mortgage Loans on the Distribution Date immediately preceding such anniversary, (B) twice the outstanding principal balance of the Mortgage Loan in the Trust Estate which has the largest outstanding principal balance on the Distribution Date immediately preceding such anniversary and (C) that which is necessary to maintain the original ratings on the Certificates as evidenced by letters to that effect delivered by Rating Agencies to the Master Servicer and the Trust Administrator. On and after the Cross-Over Date, the Special Hazard Loss Amount shall be zero.

  • Certificate Rate means 0.00% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Initial Certificate Principal Balance With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Aggregate Certificate Principal Balance At any given time, the sum of the then current Class Principal Balances of the Certificates.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Certificate Principal means principal payable in respect of the Investor Certificates of any Series pursuant to Article IV of this Agreement.

  • Class Certificate Principal Balance As to any Class of Certificates, other than any Class of Notional Certificates, and as of any date of determination, the aggregate of the Certificate Principal Balances of all Certificates of such Class. The Class Certificate Principal Balance of each such Class of Certificates as of the Closing Date is specified in Section 5.01(b).

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class M-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-1 Certificates.