Distributable Interest Amount definition
Distributable Interest Amount. With respect to either Group of Mortgage Loans, as to any Payment Date, the portion of the Interest Remittance Amount derived from the Mortgage Loans of such Group plus any Group Swap Payment received by the Trust from the Swap Provider and less any Group Swap Payment paid by the Trust to the Swap Provider, in each case with respect to such Payment Date.
Distributable Interest Amount. As to any Payment Date, the Interest Remittance Amount derived from the Mortgage Loans plus any Swap Payment or Cap Payment received by the Issuing Entity from the Hedge Providers and less any Swap Payment paid by the Issuing Entity to the Swap Provider, in each case with respect to such Payment Date.
Distributable Interest Amount. With respect to any Payment Date and Loan Group, the Interest Remittance Amount for such Payment Date and Loan Group plus the lesser of (i) Negative Amortization with respect to the related Loan Group during the related Due Period and (ii) the voluntary principal prepayments with respect to the related Prepayment Period and Loan Group, plus related amounts transferred from the Capitalized Interest Account, if any.
Examples of Distributable Interest Amount in a sentence
On each Distribution Date the Upper-Tier REMIC Class C Interest shall accrue interest in an amount equal to the Class C Distributable Interest Amount.