Class C Current Interest. As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to the aggregate principal balance of the Lower Tier REMIC Regular Interests immediately prior to such Distribution Date, plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.
Class C Current Interest. As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to the aggregate of the Principal Balance of the Mortgage Loans outstanding as of the beginning of such Accrual Period (such amount of interest representing 100 percent of the interest payments on the Class MTC Interest), plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.
Class C Current Interest. As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to 99.95% of the aggregate principal balance of the Lower Tier REMIC Regular Interests immediately prior to such Distribution Date (such amount of interest representing a "specified portion" (within the meaning of Treasury Regulations Section 1.860G-1(a)(2)(i)(C)) of interest payments on the Lower Tier REMIC Regular Interests (other than the Class LTII1B Interest and the Class LTII2B Interest)), plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.
Examples of Class C Current Interest in a sentence
Approve the meeting minutes from July 12, 2016, 8:00 a.m.; June 20, 2016, 8:00 a.m.; and June 9, 2016, 6:00 p.m. Public Comment: None.
More Definitions of Class C Current Interest
Class C Current Interest. For any Distribution Date, the interest accrued on the Class C Notional Amount during the related Accrual Period at the Class C Pass-Through Rate.
Class C Current Interest. As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to 99.95% of the aggregate principal balance of the Lower Tier REMIC Regular Interests immediately prior to such Distribution Date (such amount of interest representing a "specified portion" (within the meaning of Treasury Regulations Section 1.860G-1(a)(2)(i)(C)) of interest payments on the Lower Tier REMIC Regular Interests (other than the Class LTII1B Interest and the Class LTII2B Interest)), plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates. Class C Distributable Interest Rate: The excess, if any, of (a) the weighted average of the interest rates on the Lower Tier REMIC Regular Interests over (b) two times the weighted average of the interest rates on the Lower Tier REMIC I Marker Interests and the Class LTIX Interest (treating for purposes of this clause (b) the interest rate on each of the Lower Tier REMIC I Marker Interests as being subject to a cap and a floor equal to the interest rate of the Corresponding Certificates and treating the Class LTIX Interest as being capped at zero). The averages described in the preceding sentence shall be weighted on the basis of the respective principal balances of the Lower Tier REMIC Regular Interests immediately prior to any date of determination.
Class C Current Interest. As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to the aggregate of the Principal Balance of the Mortgage Loans outstanding as of the beginning of such Accrual Period (such amount of interest representing a "specified portion" (within the meaning of Treasury Regulations Section 1.860G-1(a)(2)(i)(C)) of interest payments on the Subsidiary REMIC Regular Interests), plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.
Class C Current Interest. As of any Distribution Date, with respect to the Class C Certificates, (i) the interest accrued on the Uncertificated Notional Amount during the related Accrual Period at the applicable Pass-Through Rate plus any amount previously distributed with respect to interest for such interest that has been recovered as a voidable preference by a trustee in bankruptcy minus (ii) the sum of (a) any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by Compensating Interest Payments and (b) any Relief Act Shortfalls during the related Due Period.
Class C Current Interest. As of any Distribution Date, the product of (i) one-twelfth of the Class C Pass-Through Rate and (ii) the Aggregate Loan Balance of the Mortgage Loans as of the opening of business on the first day of the related Remittance Period.
Class C Current Interest. With respect to the Class C Certificates and any Distribution Date, the aggregate of the following amounts accrued during the most recently ended Accrual Period: (i) interest at the Pass-Through Rate applicable to Component A for such Distribution Date, accrued on the Component Notional Amount of such Component for such Distribution Date, (ii) interest at the Pass-Through Rate applicable to Component M-1 for such Distribution Date, accrued on the Component Notional Amount of such Component for such Distribution Date, (iii) interest at the Pass-Through Rate applicable to Component M-2 for such Distribution Date, accrued on the Component Notional Amount of such Component for such Distribution Date and (iv) interest at the Pass-Through Rate applicable to Component B for such Distribution Date, accrued on the Component Notional Amount of such Component for such Distribution Date.
Class C Current Interest. With respect to any Distribution Date, the sum of the Class C-1 Component Current Interest, the Class C-2 Component Current Interest and the Class C-3 Component Current Interest.