Class Unpaid Interest Shortfall definition

Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount."
Class Unpaid Interest Shortfall. As to any Distribution Date and any Class of Regular Certificates, the excess, if any, of (a) the sum of (i) the Distributable Certificate Interest in respect of such Class for the immediately preceding Distribution Date and (ii) any outstanding Class Unpaid Interest Shortfall payable to such Class on such preceding Distribution Date over (b) the aggregate amount in respect of interest actually distributed to such Class on such immediately preceding Distribution Date. The Class Unpaid Interest Shortfall with respect to any Class of Certificates as of the initial Distribution Date is zero. No interest shall accrue on Class Unpaid Interest Shortfalls.
Class Unpaid Interest Shortfall. As to any Distribution Date and any Class of Regular Certificates, the excess, if any, of (a) the sum of (i) the Distributable Certificate Interest in respect of such Class of Certificates for the immediately preceding Distribution Date and (ii) any outstanding Class Unpaid Interest Shortfall payable to such Class of Certificates on such preceding Distribution Date over (b) the aggregate amount in respect of interest actually distributed to such Class of Certificates on such immediately preceding Distribution Date. The Class Unpaid Interest Shortfall with respect to any Class of Certificates as of the initial Distribution Date is zero. No interest shall accrue on Class Unpaid Interest Shortfalls. With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates, all amounts of Class Unpaid Interest Shortfalls of each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange and conversion of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Class Unpaid Interest Shortfalls that are allocable to Exchangeable Certificates that have been exchanged and converted for Class EC Certificates shall be deemed allocable to such Class EC Certificates, without duplication.

Examples of Class Unpaid Interest Shortfall in a sentence

  • Any amount identified as a distribution of a Class Unpaid Interest Shortfall for a Class of Floating Rate Certificates will be reduced by the amount of any Primary Basis Risk Amount allocable thereto, since any Primary Basis Risk Amount allocated thereto will be paid to such Class directly from the Reserve Fund and not from funds payable from the REMIC.


More Definitions of Class Unpaid Interest Shortfall

Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class (other than the Class SES Certificates), the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." As to any Distribution Date and the Class SES Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class SES Components. Closing Date: March 25, 2003.
Class Unpaid Interest Shortfall. As to any Distribution Date and any Class of Certificates (other than the Class A-2FL Certificates) or the Class A-2FL Regular Interest, the excess, if any, of (a) the sum of (i) the Distributable Certificate Interest in respect of such Class of Certificates or the Class A-2FL Regular Interest, as applicable, for the immediately preceding Distribution Date and (ii) any outstanding Class Unpaid Interest Shortfall payable to such Class of Certificates or the Class A-2FL Regular Interest, as applicable, on such preceding Distribution Date over (b) the aggregate amount in respect of interest actually distributed to such Class of Certificates or the Class A-2FL Regular Interest, as applicable, on such immediately preceding Distribution Date. The Class Unpaid Interest Shortfall with respect to any Class of Certificates and the Class A-2FL Regular Interest as of the initial Distribution Date is zero. No interest shall accrue on Class Unpaid Interest Shortfalls.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class (other than the Class IO and Class SES Certificates), the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." As to any Distribution Date and the Class 15-IO Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class 15-IO Components. As to any Distribution Date and the Class 30-IO Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class 30-IO Components. As to any Distribution Date and the Class SES Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class SES Components.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class (or, in the case of the Class 1-A-43 Certificates prior to the Accretion Termination Date, the amount included in the Accrual Distribution Amount on such prior Distribution Dates pursuant to clause (ii) of the definition thereof, but not distributed as interest on the Class 1-A-43 Certificates) on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." Closing Date: September 30, 2003.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class (other than the Class 1-A-18 Certificates), the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class (or, in the case of a Class of Accrual Certificates prior to the applicable Accretion Termination Date, the amount included in the Accrual Distribution Amount thereof pursuant to clause (ii) of the definition thereof, but not distributed as interest on such Class of Accrual Certificates) on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." Closing Date: July 24, 2001.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class, the amount by which the aggregate Class Interest Shortfalls for such Class (or, in the case of the Class A-6 Certificates prior to the Accretion Termination Date, the amount included in the Class A-6 Accrual Distribution Amount pursuant to clause (ii) of the definition thereof, but not distributed as interest on the Class A-6 Certificates) on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." Closing Date: August 30, 2005.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class (other than the Class A-P, Class SES and Class WIO Certificates), the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." As to any Distribution Date and the Class A-P Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class A-P Components. As to any Distribution Date and the Class SES Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class SES Components. As to any Distribution Date and the Class WIO Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class WIO Components Closing Date: December 19, 2002.