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 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.

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 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.
Class Unpaid Interest Shortfall. As to any Distribution Date and each Class of interest-bearing Shifting Interest 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 the Class 1-A-5 and Class 1-A-6 Certificates prior to the applicable Accretion Termination Date, the amount included in the Class 1-A-5 Accrual Distribution Amount or Class 1-A-6 Accrual Distribution Amount, as applicable, pursuant to clause (ii) of the definition thereof, but not distributed pursuant to the proviso in Section 5.02(a)(i)) on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount." Closing Date: October 30, 2006.
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." Closing Date: March 27, 2007. Code: The Internal Revenue Code of 1986, as amended.
Class Unpaid Interest Shortfall. As to any Distribution Date and each interest-bearing Class (other than the Class 4-A-15, Class 4-A-16, Class 5-A-1, Class 5-A-2, Class 5-A-3 and Class X-IO 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 4-A-15, Class 4-A-16, Class 5-A-1, Class 5-A-2, Class 5-A-3 or Class X-IO Certificates, the sum of the Component Unpaid Interest Shortfalls for the Class 4-A-15, Class 4-A-16, Class 5-A-1, Class 5-A-2, Class 5-A-3 or Class X-IO Components, as applicable. Closing Date: March 30, 2006.
Class Unpaid Interest Shortfall. As to any Distribution Date, the amount if any, by which the aggregate of Class (_) Interest Shortfalls for prior Distribution Dates exceeds the aggregate of the amounts distributed on prior Distribution Dates to Holders of the Class (_) Certificates in respect of Class (_)
Class Unpaid Interest Shortfall with respect to any Class of Certificates and the Class A-JFL 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 Class of interest-bearing Certificates (other than the Class A-IO Certificates and Component Certificates), the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of