Class M Deficiency Amount definition

Class M Deficiency Amount is defined in Section 4.2(b).

Class M Deficiency Amount. For any Distribution Date and the Class M Certificates, the sum of (i) any Class M Insured Interest Payment for such Distribution Date and (ii) any Class M Insured Principal Payment for such Distribution Date.

Class M Deficiency Amount means the sum of the Class M-1 Deficiency Amount and the Class M-2 Deficiency Amount.

Examples of Class M Deficiency Amount in a sentence

• During the examination of the ‘014 Patent, the United States Patent Examiner(s) searched for prior art in the following US Classifications: 380/44, 380/265, 28, 377/54, 60, 75, 67, 81, 711/109, 340/825.68, 365/73, 78, 712/1, 24, 10, 712/223.

• Following Receipt by the Insurer of a notice and certificate from the Trustee in the form attached as Exhibit A to this Policy, the Insurer will pay any related Class M Deficiency Amount payable hereunder in respect of the Class M Certificates out of the funds of the Insurer on the later to occur of (a) 12:00 noon, New York City time, on the second Business Day following such Receipt; and (b) 12:00 noon, New York City time, on the Distribution Date on which such Class M Deficiency Amount is due.

• On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “ Class M Deficiency Amount ”), of (x) the aggregate amount accrued pursuant to this subsection 5.2(c) as of the prior Distribution Date over (y) the amount of funds actually transferred from the Distribution Account for payment of such amount.

• Such Class M Deficiency Amount will be disbursed to the Trustee by wire transfer of immediately available funds.

More Definitions of Class M Deficiency Amount

Class M Deficiency Amount means, with respect to any Distribution Date and the Class M Certificates, the sum of (i) any Class M Insured Interest Payment for such Distribution Date and (ii) any Class M Insured Principal Payment for such Distribution Date.