Excess Cashflow. With respect to any Distribution Date, an amount, if any, equal to the sum of (a) the Remaining Excess Spread for such Distribution Date and (b) the Overcollateralization Release Amount for such Distribution Date.
Excess Cashflow has the meaning given to that term in Clause 22.1 (Financial definitions).
Excess Cashflow. With respect to any Distribution Date the sum of (i) the amount remaining after the distribution of interest to Certificateholders for such Distribution Date pursuant to Section 4.04(a)(iv)(b), (ii) the amount remaining after the distribution of principal to Certificateholders for such Distribution Date, pursuant to Section 4.04(b)(1)(B)(ii) or 4.04(b)(2)(C) and (iii) the Overcollateralization Reduction Amount for such Distribution Date.
Examples of Excess Cashflow in a sentence
Excess Cashflow Prior to OC Provisions amount takes into account any Non-Recoverable Advance Amounts from Section 6.
Such class will be entitled to receive the amount of any Basis Risk Shortfall on a subordinated basis from Monthly Excess Cashflow treated as paid from and to the extent of funds on deposit in a reserve fund (the “Basis Risk Reserve Fund”).
The credit enhancement for the Notes will include the Certificates, a reserve fund (the "Reserve Fund"), a yield supplement account (the "Yield Supplement Account"), and the subordination of the Seller's right to receive Excess Cashflow.
Principal and the Monthly Excess Cashflow Amount in respect of this Certificate is distributable monthly as set forth in the Pooling and Servicing Agreement.
On each Distribution Date, Excess Cashflow, if any, will be used to build O/C until the Targeted Overcollateralization Amount is reached.
More Definitions of Excess Cashflow
Excess Cashflow. With respect to any Distribution Date the sum of (i) the amount remaining as set forth in Section 4.02(a)(iv)(B), (ii) the amount remaining as set forth in Section 4.02(b)(i)(C) or 4.02(b)(ii)(C), as applicable, in each case for such Distribution Date and (iii) the Overcollateralization Reduction Amount for that Distribution Date, if any.
Excess Cashflow. With respect to any Distribution Date, the sum of (i) Remaining Excess Spread for such Distribution Date and (ii) Overcollateralization Release Amount for such Distribution Date; provided, however, that the Excess Cashflow shall include Principal Funds on and after the Distribution Date on which the aggregate Certificate Principal Balance of the Class I-A-1, Class I-A-2, Class I-M-1, Class I-M-2, Class I-B-1, Class I-B-2 and Class I-B-3 Certificates has been reduced to zero (other than Principal Funds otherwise distributed to the Holders of Class I-A-1, Class I-A-2, Class I-M-1, Class I-M-2, Class I-B-1, Class I-B-2 and Class I-B-3 Certificates on such Distribution Date).
Excess Cashflow. For any Distribution Date, the excess of (a) the Interest Remittance Amount over (b) the sum of (x) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (y) the Class I Monthly Interest Distributable Amount and (z) the Administrative Fees, each for such Distribution Date.
Excess Cashflow means, for any period for which it is being calculated, Cashflow for that period less (except to the extent already deducted in calculating Cashflow):
Excess Cashflow. With respect to any Distribution Date and each Loan Group, the sum of (i) the Remaining Excess Spread for such Loan Group and such Distribution Date and (ii) the Overcollateralization Release Amount for such Loan Group and for such Distribution Date. Excess Liquidation Proceeds: To the extent that such amount is not required by law to be paid to the related Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to a Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance of such Mortgage Loan and accrued but unpaid interest at the related Mortgage Interest Rate through the last day of the month in which the related Liquidation Date occurs, plus (ii) related Liquidation Expenses.
Excess Cashflow. With respect to any Distribution Date (i) the Interest Remittance Amount remaining after the distribution of interest to the Holders of the Certificates for that Distribution Date, (ii) the Overcollateralization Release Amount and (iii) any Principal Distribution Amount for that Distribution Date remaining after distributions of the principal to the Offered Certificates.
Excess Cashflow. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest collected on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Classes of Certificates on such Distribution Date pursuant to Section 4.02(a)(i).