Class C Distribution Amount definition

Class C Distribution Amount. With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however, that, on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount.

Class C Distribution Amount. With respect to any Distribution Date the sum of (i) the Overcollateralization Release Amount for that Distribution Date, if any, and (ii) the product of (x) a notional amount, equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month of such Distribution Date (after giving effect to Monthly Payments of principal due on such date), and (y) the Pass-Through Rate for the Class C Interest for such Distribution Date as set forth in footnote (2) to the Master REMIC under Section 1.03 herein, less (iii) distributions made pursuant to Section 4.01(a)(3)(i)-(xiii) on such Distribution Date.

Class C Distribution Amount. With respect to any Distribution Date, means the interest allocated to the Class C Certificates as separate components in accordance with note (5) of Section 9.16(c) with respect to such Distribution Date and additionally, with respect to the first Distribution Date, an amount equal to the Class C Certificate Principal Balance.

Examples of Class C Distribution Amount in a sentence

• The Class C Certificates are entitled to the Class C Distribution Amount on each Distribution Date.

• Redemption of Class C Notes from Available Interest Distribution Amount:On the last Interest Payment Date (after redemption in full of all the Mortgage-Backed Floating Rate Notes) on which any Class C Distribution Amount is to be paid by the Issuer in accordance with Condition 7.5 (Class C Distribution Amount Payments), the Issuer will cause the Class C Notes to be redeemed in full from such Class C Distribution Amount.

• For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Net Rate Cap Fund and all amounts deposited into the Net Rate Cap Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC III with respect to the Class C Distribution Amount and Class C Carryforward Amount.

• Any payments received by the Trustee under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class C Certificates and payable as part of the Class C Distribution Amount for the related Distribution Date.

• For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class C Distribution Amount and Class C Carryforward Amount.

More Definitions of Class C Distribution Amount

Class C Distribution Amount means, as to any Remittance Date, the amount, if any, distributable pursuant to Section 8.03(a)(12).

Class C Distribution Amount. With respect to any Distribution Date, the sum of (i) the Monthly Interest Distributable Amount for the Class C Certificates for such Distribution Date and (ii) any Overcollateralization Release Amount for such Distribution Date; provided, however that on and after the Distribution Date on which the Certificate Principal Balance of the Certificates has been reduced to zero, the Class C Distribution Amount shall include the Overcollateralized Amount.

Class C Distribution Amount. With respect to any Distribution Date, one-twelfth of the sum of:

Class C Distribution Amount. With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however that on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount. For federal income tax purposes, the Class C Distribution Amount for the Class C Interest for any Distribution Date shall be an amount equal to 100% of the amounts distributed in respect of REMIC II Regular Interest C on such Distribution Date.

Class C Distribution Amount means, as to any Payment Date, the amount, if any, distributable in respect of the Class C Certificate pursuant to Section 8.04(b).

Class C Distribution Amount. With respect to any Payment Date, the amount payable to Class C pursuant to footnotes (4), (5), and (6) of Section 2.08(c).

Class C Distribution Amount. With respect to any Distribution Date, the sum of (i) the Monthly Interest Distributable Amount for the Class C Certificates for such Distribution Date and (ii) any Overcollateralization Release Amount for such Distribution Date; provided, however that on and after the Distribution Date on which the Certificate Principal Balance of the Certificates has been reduced to zero, the Class C Distribution Amount shall include the Overcollateralized Amount. For federal income tax purposes the Class C Distribution Amount for the Class C Certificates for any Distribution Date shall be an amount equal to 100% of the amounts distributed in respect of REMIC II Regular Interest C on such Distribution Date.