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

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.

• Id. § 1.01 (Definition of Class C Distribution Amount) (emphasis added).

• The Class C Distribution Amount does not, as defined, dictate what is actually Excess Cashflow.

• As a result, the Class C Distribution Amount should almost always exceed the amount of Post-Zero Balance Collections in a particular period insofar as collections from the assets generally should not exceed the total amount of the assets themselves.

More Definitions of Class C Distribution 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, 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.

Class C Distribution Amount means, for 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 Distribution Date, means the interest allocated to the Class C Certificates as separate components in accordance with Section 9.16 with respect to such Distribution Date.

Class C Distribution Amount. With respect to any Distribution Date, the sum of (i) the Excess Cap Payment, (ii) the Interest Distribution Amount for the Class C Certificates for such Distribution Date and (iii) any Overcollateralization Reduction Amount for such Distribution Date remaining after payments pursuant to items 1 though 7 of clause THIRD of Section 5.04; 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 Overcollateralization Amount.

Class C Distribution Amount. With respect to any Distribution Date, the Monthly Interest Distributable Amount for the Class C Certificates for such Distribution Date; provided, however, that on and after the Distribution Date on which the Certificate Principal Balance of the Offered Offered 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.

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