Excess Interest Amount definition

Excess Interest Amount means, on any date, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of this Note, had the applicable Contract Rate at all times been in effect without limitation by the Maximum Rate, exceeds (ii) the aggregate amount of interest accrued on this Note on or prior to such date as limited by the Maximum Rate.

Excess Interest Amount has the meaning set forth in Section 3.04 hereof.

Excess Interest Amount. The Group I, Group II or Group III Excess Interest Amount, as applicable.

Examples of Excess Interest Amount in a sentence

• Extra Principal Distribution Amount ----------------------------------- As of any Distribution Date, the lesser of (a) the Monthly Excess Interest Amount for that Distribution Date and (b) the Overcollateralization Deficiency for that Distribution Date.

• Realized Losses shall be allocated, through the priority of distributions in Section 4.02, first against the Monthly Excess Interest Amount and then against the Overcollateralization Amount until such amount has been reduced to zero.

• Group 1 Excess Interest Amount: For any Distribution Date, the product of (a) the amount of Monthly Excess Interest required to be distributed on that Distribution Date pursuant to subclause (2)(A) of the Monthly Excess Cashflow waterfall and (b) a fraction, the numerator of which is the Principal Remittance Amount derived from Loan Group 1 and the denominator of which is the Principal Remittance Amount, in each case for that Distribution Date.

• Realized Losses shall be allocated first against the Monthly Excess Interest Amount and then against the Overcollateralization Amount until such amount has been reduced to zero.

• Monthly Excess Cashflow Amount The sum of the Monthly Excess Interest Amount, the Overcollateralization Release Amount and the Remaining Principal Distribution Amount.

More Definitions of Excess Interest Amount

Excess Interest Amount means, with respect to any Distribution Date, an amount equal to one-twelfth of the product of (a) (i) the outstanding principal balance of the Class B Certificates as of the preceding Distribution Date (after subtracting therefrom the aggregate amount of distributions of Class B Monthly Principal made to the Class B Certificateholders on or before such preceding Distribution Date) minus (ii) the Class B Invested Amount as of such preceding Distribution Date (after giving effect to any increase or decrease in the Class B Invested Amount on such preceding Distribution Date) and (b) the Class B Certificate Rate; provided, however, that with respect to the first Distribution Date, the Excess Interest Amount shall be zero.

Excess Interest Amount means, on any date, with respect to the Note of any Bank, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of such Note (had the applicable contract rate(s) described herein at all times been in effect, without limitation by the Maximum Rate) exceeds (ii) the aggregate amount of interest actually paid to such Bank on such Note on or prior to such date.

Excess Interest Amount means, on any day, the amount by which (a) the amount of all interest which would have accrued prior to such day on the outstanding principal of the Term Notes of the applicable Lender (had the Alternate Base Rate and/or the Adjusted LIBO Rate, as applicable, at all times been in effect without limitation by the Highest Lawful Rate applicable to such Lender) exceeds (b) the aggregate amount of interest actually paid to the Agent for the account of such Lender on its Term Notes on or prior to such day.

Excess Interest Amount has the meaning set forth in Section 6.5(c) hereof.

Excess Interest Amount. The Group 5 Excess Interest Amount and Group 6 Excess Interest Amount, as applicable.

Excess Interest Amount shall have the meaning attributed to such term in Section 2.14 hereof.

Excess Interest Amount. Section 4.03(b).