Class X-IO Distribution Amount definition

Class X-IO Distribution Amount. With respect to any Distribution Date, the lesser of (i) the aggregate Available Funds, if any, remaining after the making of all applications, transfers and disbursements described in Sections 7.03(b)(i) through 7.03(b)(viii) hereof and (ii) the sum of the amounts described in footnotes (5) and (6) of Section 2.08(b) for the current and for all prior Distribution Dates less amounts distributed to the Class X-IO Certificates on prior Distribution Dates (including amounts described in Section 7.03(b)(ix)).

Class X-IO Distribution Amount. With respect to any Distribution Date, the lesser of (i) the aggregate funds, if any, remaining after the making of all applications, transfers and disbursements described in Sections 7.03(b)(A)(1) through 7.03(b) clause C.24 hereof and (ii) the amount described in footnote (20) of Section 2.08(g) for the current and for all prior Distribution Dates less amounts treated as distributed to the Class X-IO Certificates on prior Distribution Dates pursuant to Sections 7.03(b) clauses C.25 and C.30.

Class X-IO Distribution Amount. With respect to any Distribution Date, the lesser of (i) the aggregate Total Monthly Excess Cashflow, if any, remaining after the making of all applications, transfers and disbursements described in Sections 7.03(b)(i), 7.03(b)(ii), and 7.03(b)(iii) hereof and (ii) the sum of the amounts described in footnotes (5) and (6) of Section 2.08(b) for the current and for all prior Distribution Dates less amounts distributed with respect to the Class X-IO Certificates on prior Distribution Dates.

Examples of Class X-IO Distribution Amount in a sentence

• For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by the Master REMIC with respect to the Class X-IO Distribution Amount.

• For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC II with respect to the Class X-IO Distribution Amount.

• For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Supplemental Interest Reserve Fund and all amounts deposited into the Supplemental Interest Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by REMIC I with respect to the Class X-IO Distribution Amount.

• For federal and state income tax purposes, the Class X-IO Certificateholders will be deemed to be the owners of the Net WAC Cap Carryover Reserve Fund and all amounts deposited into the Net WAC Cap Carryover Reserve Fund (other than the initial $10,000 deposit) shall be treated as amounts distributed by the Master REMIC with respect to the Class X-IO Distribution Amount.

• On each Distribution Date as to which there is WAC Excess to the extent not paid under Section 7.12(b), the Trustee has been directed to, and shall therefore, deposit into the Supplemental Interest Reserve Fund an amount equal to the WAC Excess to the extent of the Class X-IO Distribution Amount which is payable pursuant to Section 7.03(b) clause C.26 and 7.03(b) clause C.27.

More Definitions of Class X-IO Distribution Amount

Class X-IO Distribution Amount means, for any Payment Date, the amount to ------------------------------ be distributed pursuant to Section 8.04(b)(iii) on such Payment Date.

Class X-IO Distribution Amount means, with respect to any Distribution Date, (i) the amount of all interest accrued on the Loans at the Reduced Weighted Average Net Loan Rate for the related Due Period less (ii) the amount of Net Prepayment Interest Shortfalls allocated to the Class X-IO Certificates pursuant to Section 6.5(c) of this Agreement and less (iii) the aggregate Distributable Certificate Interest on the Class A Certificates for such Distribution Date but determined by using their applicable Uncapped Pass-Through Rates for such Distribution Date rather than their applicable Pass-Through Rates for such Distribution Date.

Class X-IO Distribution Amount means the amount available for distribution on each Distribution Date in excess of the amount due the [Offered Certificates] (exclusive of any amount distributable to such classes representing REMIC Net WAC Cap Carryover). The aggregate amount of [Class X-IO] Distribution Amounts, however, cannot exceed the sum of (i) the amount of interest currently accruing on the [Class X-IO], (ii) the amount of interest previously accrued on the [Class X-IO] Interest issued by the Master REMIC, (iii) the amount, if any, the sum of (a) the Initial Cut-off Date Pool Principal Balance and (b) the Original Pre-funded Amount exceeds the aggregate of Initial Principal Balances of the [Offered Certificates], and (iv) amounts due the Class LTIII-PF-IO Interest issued by REMIC III. For the purpose of this limitation, any amount of REMIC Net WAC Cap Carryover paid to the [Offered Certificates] is treated as a Distribution on the [Class X-IO].]

Class X-IO Distribution Amount means, on any Distribution Date, the excess of (a) the sum of (i) the Class X-IO Initial Principal Balance and (ii) all interest accrued on the Class X-IO-F Notional Amount at the Class X-IO-F Rate and all interest accrued on the Class X-IO-V Notional Amount at the Class X-IO-V Rate for the Interest Period related to such Distribution Date and for all prior Interest Periods, over (b) the sum of all amounts distributed on prior Distribution Dates with respect to the Class BIO Certificate pursuant to Section 8.01(c)(C)(9) and (13) hereof.

Class X-IO Distribution Amount means with respect to any Distribution Date, the lesser of (i) the aggregate funds, if any, remaining after the making of all applications, transfers and disbursements described in Sections 8.01(c)(A)(1) through 8.01(c)(C)(8) hereof and (ii) the amounts described in footnote (6) of Section 2.07(b) for the current and for all prior Distribution Dates less amounts distributed to the Class X-IO Certificates on prior Distribution Dates pursuant to Sections 8.01(c)(C)(9) and (13). "Clean-up Call Date" has the meaning assigned in Section 8.03.

Class X-IO Distribution Amount means the amount available for distribution on each Distribution Date in excess of the amount due the Offered Certificates (exclusive of any amount distributable to such classes representing REMIC Net WAC Cap

Class X-IO Distribution Amount. With respect to any Distribution Date, the lesser of (i) the aggregate funds, if any, remaining after the making of all applications, transfers and disbursements described in Sections 7.03(b)(A)(1) through 7.03(b)(C)(10) pursuant to Sections 703(b)(A)(14) and (15), hereof and (ii) the sum of the amounts described in footnotes (5) and (6) of Section 2.08(b) for the current and for all prior Distribution Dates less amounts distributed to the Class X-IO Certificates on prior Distribution Dates pursuant to Sections 7.03(b)(C)(11) and (16).