Examples of Class A Interest Shortfall in a sentence
On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall"), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Distribution Date.
Class A Monthly Interest 2,500,000.00 ----------------- Class A Interest Shortfall 0.00 H(4).
Class A Interest Shortfall means, in relation to any Quarterly Payment Date, any shortfall of the aggregate amounts under items (a) to and including (i) of the Quarterly Interest Available Funds to pay in full item (i) of the Quarterly Interest Priority of Payments on the relevant Quarterly Payment Date.
Such amount of principal applied to cover the Class A Interest Shortfall shall be recorded on the Class B Principal Deficiency Ledger (or, if and to the extent the Class B Principal Deficiency Ledger has been entirely drawn-up, on the Class A Principal Deficiency Ledger).It shall be an Event of Default if on any Quarterly Payment Date, the interest amounts in respect of the Class A Notes have not been paid in full.
On the Determination Date preceding each Payment Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall") of (x) the aggregate Class A Monthly Interest plus the aggregate Class A Covered Amount for the Interest Period applicable to such Payment Date over (y) the amount which will be on deposit in the Class A Interest Funding Account on such Payment Date.