Deferred Interest definition
Deferred Interest shall have the meaning set forth in Section 4.1.
Deferred Interest has the meaning set forth in Section 2.11.
Deferred Interest means any interest on the Debentures that would have been overdue and unpaid for more than one Distribution Payment Date but for the imposition of an Extension Period, and the interest that shall accrue (to the extent that the payment of such interest is legally enforceable) on such interest at the Coupon Rate applicable during such Extension Period, compounded quarterly from the date on which such Deferred Interest would otherwise have been due and payable until paid or made available for payment.
Examples of Deferred Interest in a sentence
Deferred Interest on the Class B Notes or the Class C Notes shall be payable on the first Payment Date on which funds are available to be used for such purpose in accordance with the Priority of Payments, but in any event no later than the earlier of the Payment Date (i) which is the Redemption Date with respect to the Class B Notes or the Class C Notes, as applicable and (ii) which is the Stated Maturity of the Class B Notes or the Class C Notes, as applicable.
More Definitions of Deferred Interest
Deferred Interest. With respect to each Mortgage Loan and each related Due Date, will be the excess, if any, of the amount of interest accrued on such Mortgage Loan from the preceding Due Date to such due date over the portion of the Monthly Payment allocated to interest for such Due Date.
Deferred Interest. With respect to any Class of Negative Amortization Certificates and any Distribution Date, the lesser of (x) the applicable Interest Distribution Amount for such date (without giving effect to any Deferred Interest) and (y) the aggregate Mortgage Loan Negative Amortization, if any, for the related Due Period.
Deferred Interest has the meaning specified in Section 3.07.
Deferred Interest. The meaning specified in Section 2.7(a).
Deferred Interest. With respect to any Class of Notes for any Payment Date, an amount equal to the sum of (a) the aggregate amount of interest accrued at the applicable Note Interest Rate during the related Accrual Period on the Principal Deficiency Amount for that Class, (b) any amounts due pursuant to clause (a) for such Class for prior Payment Dates that remain unpaid and (c) interest accrued during the Accrual Period related to such Payment Date on the amount described in clause (b) at the Note Interest Rate applicable to such Class.
Deferred Interest means each installment of interest not paid during any Extension Period, and interest thereon. Deferred installments of interest shall bear interest at the rate of the prevailing Interest Rate per annum from the applicable Interest Payment Date to the date of payment, compounded on each Interest Payment Date.
Deferred Interest. The amount of interest which is deferred and added to the principal balance of a Mortgage Loan due to negative amortization.