Class I Monthly Interest definition

Class I Monthly Interest means (i) for the first Distribution Date, the product of the following: (one-twelfth of the Class I Pass-Through Rate) multiplied by (the number of days from the Closing Date (assuming the month of the Closing Date has 30 days) through the day before the first Distribution Date divided by 30) multiplied by the Notional Principal Amount of the Class I Certificates at the Closing Date, and (ii) for any subsequent Distribution Date, one-twelfth of the product of the Class I Pass-Through Rate and the Notional Principal Amount as of the immediately preceding Distribution Date (after giving effect to any application of Monthly Principal on such preceding Distribution Date); provided, however, that after the Class I Stated Final Distribution Date, the Class I Monthly Interest shall be zero.
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Class I Monthly Interest means (i) for the first Payment Date, the product of (x) one-twelfth of the Class I Note Rate multiplied by (y) the Original Notional Principal Amount, and (ii) for any subsequent Payment Date, one-twelfth of the product of (x) the Class I Note Rate and (y) the Notional Principal Amount as of the immediately preceding Payment Date (after giving effect to any reduction of the Notional Principal Amount due to allocations of principal on such preceding Payment Date); provided, however, that after the Class I Final Scheduled Payment Date, the Class I Monthly Interest shall be zero; provided, further, that in the event the Notes are accelerated pursuant to Section 5.02(a) following an Event of Default, the Class I Monthly Interest for any remaining Payment Date will be due to the Class I Noteholders based on the Planned Notional Principal Amount for that Payment Date as set forth in the Planned Notional Principal Amount Schedule.
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Class I Monthly Interest means (i) for the first Distribution Date, the product of the following: one-twelfth of the Class I Pass-Through Rate multiplied by the Notional Principal Amount of the Class I Certificates at the Closing Date, and (ii) for any subsequent Distribution Date, one-twelfth of the product of the Class I Pass-Through Rate and the Notional Principal Amount as of the immediately preceding Distribution Date (after giving effect to any reduction of the Notional Principal Amount on such preceding Distribution Date); provided, however, that after the Class I Final Scheduled Distribution Date, the Class I Monthly Interest shall be zero.
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Examples of Class I Monthly Interest in a sentence

  • The Trustee shall, promptly upon receipt, deposit in the Supplemental Interest Trust amounts of Excess Cashflow, if any, pursuant to Section 4.01 and each distribution of the Class I Monthly Interest Distributable Amount pursuant to Section 4.01(a)(i)(A).

  • The Trustee shall, promptly upon receipt, deposit in Supplemental Interest Trust I amounts of Mortgage Excess Cashflow, if any, pursuant to Section 4.01(a)(i)(K), each distribution of the Class I Monthly Interest Distributable Amount pursuant to Section 4.01(a)(i)(A) and any amounts received under any Swap Agreement pursuant to Section 4.04(h).

  • Thus, any amounts received in respect of the Class I Monthly Interest Distributable Amount will be paid into the Supplemental Interest Trust.

  • The Trustee shall, promptly upon receipt, deposit in Supplemental Interest Trust I amounts of Excess Cashflow, if any, pursuant to Section 4.01 and each distribution of the Class I Monthly Interest Distributable Amount pursuant to Section 4.01(a)(i)(A).

  • In the event that the Class I Monthly Interest Distributable Amount is not a positive number, no payment will be made in respect of the Class I Monthly Interest Distributable Amount.

  • The "Class AIO Current Interest" as of any Distribution Date is equal to the excess of (x) Interest Remittance Formula Amount for that Distribution Date less (y) the sum of the Administrative Fees, the Current Interest for the Class A-1, Class A-2, Class M-1, Class M-2, Class M-3 and Class B Certificates, and the Class I Monthly Interest Distributable Amount for that Distribution Date.

  • The survey results we gathered indicate frequent turnover among temps in the industry as well: “Direct hires report far greater employment stability, with an average of 54 months (or 4.5 years) at their current facility.

  • The "Class AIO Current Interest" as of any Distribution Date is equal to the excess of (x) Interest Remittance Formula Amount for that Distribution Date less (y) the sum of the Administrative Fees, the current interest for the Class A-1, Class A-2, Class M-1, Class M-2, Class M-3 and Class B Certificates, and the Class I Monthly Interest Distributable Amount for that Distribution Date.

  • SUPPLEMENTAL INTEREST TRUST: On each Distribution Date prior to the Class I Certificate Termination Date, funds deposited to the Supplemental Interest Trust will equal the sum of (a) the Class I Monthly Interest Distributable Amount, (b) any amounts received from the swap agreements, and (c) the Class AIO Monthly Interest Distributable Amount.

  • The Surety Bond Issuer is required pursuant to Section 10.03 and the terms of the Surety Bond to pay the amount of such excess deficiency of Class I Monthly Interest, Class A Monthly Interest and Monthly Principal, up to the Surety Bond Amount.


More Definitions of Class I Monthly Interest

Class I Monthly Interest means (i) for the first Distribution Date, the product of the following: the Initial Multiplier multiplied by one-twelfth of the Class I Pass-Through Rate multiplied by the Notional Principal Amount of the Class I Certificates at the Closing Date, and (ii) for any subsequent Distribution Date, one-twelfth of the product of the Class I Pass-Through Rate and the Notional Principal Amount as of the immediately preceding Distribution Date (after giving effect to any reduction of the Notional Principal Amount on such preceding Distribution Date); provided, however, that after the Class I Final Scheduled Distribution Date, the Class I Monthly Interest shall be zero.
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Related to Class I Monthly Interest

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class A-1 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, the product of (A) the actual number of days elapsed during the period from and including the preceding Distribution Date to but excluding such Distribution Date divided by 360, (B) the Class A-1 Rate and (C) the outstanding principal balance of the Class A-1 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-1 Notes on or before such preceding Distribution Date).

  • Class D Monthly Interest means, for any Distribution Date, one-twelfth (or, in the case of the first Distribution Date, the number of days from and including the Closing Date to but excluding the 15th day of the month in which such Distribution Date occurs, assuming each month has 30 days, divided by 360) of the product of (A) the Class D Rate and (B) the outstanding principal balance of the Class D Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class D Notes on or before such preceding Distribution Date).

  • Monthly Interest means, for any Payment Date, the sum of the Class A Monthly Interest, the Class B Monthly Interest and the Class C Monthly Interest for such Payment Date.

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $321,750.00, and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Note Monthly Interest means, for a Class and a Payment Date, the aggregate amount of interest accrued on the Note Balance of the Class at the Note Interest Rate for the Class for the related Interest Period.

  • Monthly Interest Distributable Amount With respect to any Distribution Date and each Class of Certificates, other than the Class P, Class R and Class C Certificates, an amount equal to the amount of interest accrued during the related Interest Accrual Period at the related Pass-Through Rate on the Class Principal Amount of such Class of Certificates immediately prior to such Distribution Date, in each case, reduced by any Net Prepayment Interest Shortfalls allocated to such Class of Certificates and any Relief Act Interest Shortfalls allocated to such Class of Certificates, in each such case, as such shortfalls are allocated pursuant to Section 1.02 herein.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.

  • Note Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period at the related Interest Rate for each Class of Notes on the Outstanding Amount of the Notes of each such Class on the immediately preceding Payment Date (or, in the case of the first Payment Date, the original principal amount of each such Class of Notes), after giving effect to all distributions of principal to the Noteholders of each such Class on or prior to such Payment Date.

  • Collateral Monthly Interest means the monthly interest distributable in respect of the Collateral Interest as calculated in accordance with subsection 4.06(c).

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

  • Class A-4 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑4 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑4 Rate or, in the case of the first Payment Date, on the Class A‑4 Initial Principal Balance.

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.

  • Class A Non-PO Principal Balance As of any date, an amount equal to the Class A Principal Balance less the Principal Balance of the Class A-PO Certificates.

  • Class A Non-PO Optimal Amount As to any Distribution Date, the sum for such Distribution Date of (i) the Class A Interest Accrual Amount, (ii) the Aggregate Class A Unpaid Interest Shortfall and (iii) the Class A Non-PO Optimal Principal Amount.

  • Class A Interest Distributable Amount means, with respect to any Distribution Date and each class of Class A Notes, an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class A Notes at the related Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the related Class A Interest Carryover Shortfall for the current Distribution Date.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.