Class A-2 Interest Payment Amount definition

Class A-2 Interest Payment Amount. With respect to the Class A-2 Notes for any Payment Date, an amount equal to (a) the related Class A-2 Current Interest, plus (b) the Class A-2 Carry-Forward Amount remaining unpaid as of such Payment Date.

Class A-2 Interest Payment Amount means, for any Payment Date, an amount equal to the product of (x) 1/12 (or, with respect to the first Payment Date, 39/360), (y) the Class A-2 Note Rate and (z) the Class A-2 Note Balance as of such Payment Date (without giving effect to any payments to be made on such Payment Date).

Class A-2 Interest Payment Amount means, with respect to any Payment Date, the sum of the Class A-2 Monthly Interest Payment Amount and the Class A-2 Interest Carryover Shortfall for such Payment Date.

Examples of Class A-2 Interest Payment Amount in a sentence

• A payment on the Class A-2 Notes in an amount equal to $___________ is due to be received under the Indenture (the "Class A-2 Required Payment"), consisting of $___________ in respect of the Class A-2 Interest Payment Amount (excluding any Relief Act Shortfalls) and $___________ in respect of the related Overcollateralization Deficit, in the case of any Payment Date other than the Final Scheduled Payment Date, or the related Class A Note Principal Balance, in the case of the Final Scheduled Payment Date.

• For any Payment Date the Class A-2 Carry-Forward Amount is the sum of (a) the amount, if any, by which (x) the Class A-2 Interest Payment Amount as of the immediately preceding payment date exceeded (y) the amount of interest actually paid to the holders of the Class A-2 Notes on such immediately preceding Payment Date and (b) thirty days' interest on the amount described in clause (a), calculated at an interest rate equal to the Class A-2 Formula Note Rate.

• For each Payment Date, the aggregate amount of each installment of interest due and payable on the Class A-2 Notes will be equal to the Class A-2 Interest Payment Amount and any Class A-2 Noteholders' Interest Carryover for such Payment Date.

• A payment on the Class A-2 Notes in an amount equal to $_____________ is due to be received under the Indenture (the "Class A-2 Required Payment"), consisting of $__________ in respect of the Class A-2 Interest Payment Amount (excluding any Relief Act Shortfalls) and $__________ in respect of the related Overcollateralization Deficit, in the case of any Payment Date other than the Final Scheduled Payment Date, or the related Class A Note Principal Balance, in the case of the Final Scheduled Payment Date.

More Definitions of Class A-2 Interest Payment Amount

Class A-2 Interest Payment Amount. With respect to any Payment Date, the product of (x) the Class A-2 Note Rate applicable to such Payment Date, (y) the Class A-2 Note Principal Balance immediately prior to such Payment Date and (z) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360.

Class A-2 Interest Payment Amount means (a) with respect to the initial Payment Date, the product of (i) 1/360 of the Class A-2 Interest Rate times (ii) the number of days from and including the Closing Date to and excluding the 15th day of the calendar month in which the initial Payment Date occurs (calculated on the basis of a 360-day year consisting of twelve 30-day months) times (iii) the Outstanding Amount of the Class A-2 Notes as of the Closing Date; and (b) with respect to any subsequent Payment Date, the sum of (i) the product of (x) one-twelfth of the Class A-2 Interest Rate times (y) the Outstanding Amount of the Class A-2 Notes as of the immediately preceding Payment Date after giving effect to all payments of principal of the Class A-2 Notes on such immediately preceding Payment Date and (ii) the amount of Class A-2 Interest Payment Amount payable on the prior Payment Date but not paid, if any, together with interest thereon (to the extent permitted by law) at the Class A-2 Interest Rate.

Class A-2 Interest Payment Amount means, for any Payment Date, an amount equal to the product of (x) 1/12, (y) the Class A-2 Note Rate and (z) the Class A-2 Note Balance as of such Payment Date (without giving effect to any payments to be made on such Payment Date).

Class A-2 Interest Payment Amount. With respect to any Payment Date, the product of (x) one-twelfth of the Class A-2 Note Rate applicable to such Payment Date and (y) the Class A-2 Note Principal Balance immediately prior to such Payment Date (based on a 360-day year and the actual number of days in the Interest Accrual Period).

Class A-2 Interest Payment Amount. With respect to any Payment Date, an amount equal to 30 days of interest (or in the case of the first Payment Date, the number of days (on a "30/360" basis) from and including March 1, 1999, to but excluding April 19, 1999), calculated on the basis of a 360-day year consisting of twelve 30-day months, at the Class A-2 Interest Rate on the Class A-2 Note Balance as of the close of business on the related Accounting Date. Class A-2 Interest Rate: 6.090% per annum, calculated on a basis of a 360-day year consisting of twelve 30-day months.

Class A-2 Interest Payment Amount means, as of any Payment Date, the sum of (i) one month's interest at the Class A-2 Interest Rate on the then outstanding Principal Amount of the Class A-2 Bonds immediately prior to such Payment Date and (ii) the sum of the amounts, if any, by which the amount described in clause (i) above on each prior Payment Date exceeded the amount actually distributed as interest on such Bonds on such prior Payment Dates and was not subsequently distributed, together with, to the extent permitted by applicable law, interest on the amount described in clause (ii) at the Class A-2 Interest Rate; provided, that, solely in the case where a MBIA Default shall have occurred and is continuing, the rate at which the amount in clause (i) above is calculated shall be the lesser of the Class A-2 Interest Rate and the Weighted Average Net Mortgage Rate for the related Payment Date (unless such Payment Date would be the seventh consecutive Payment Date on which at least one of the Bond Interest Rates would be equal to the Weighted Average Net Mortgage Rate, in which case, this proviso shall be disregarded

Class A-2 Interest Payment Amount means: • with respect to the initial payment date, the product of (i) 1/360 of the Class A-2 Interest Rate times (ii) the number of days from and including the closing date to and excluding the 15th day of the calendar month in which the initial payment date occurs (calculated on the basis of a 360-day year consisting of twelve 30-day months) times (iii) the aggregate initial principal balance of the Class A-2 notes as of the closing date; and • with respect to any subsequent payment date, the sum of (i) the product of (x) one-twelfth of the Class A-2 Interest Rate times (y) the aggregate outstanding principal balance of the Class A-2 notes as of the immediately preceding payment date after giving effect to all payments of principal of the Class A-2 notes on such immediately preceding payment date and (ii) the amount of Class A-2 Interest Payment Amount payable on the prior payment date but not paid, if any, together with interest thereon (to the extent permitted by law) at the Class A-2 Interest Rate.