Excess Interest Collections definition

Excess Interest Collections means, for a Payment Date, an amount equal to the excess, if any, of (a) the Available Investor Interest Collections for that Payment Date, over (b) the amount required to be paid, without duplication, under Sections 4.2(a)(i) through (xv) of the Indenture Supplement on that Payment Date.

Excess Interest Collections has, with respect to any Series, the meaning specified in the related Indenture Supplement.

Excess Interest Collections means, with respect to any Business Day, as the context requires, either (x) the amount described in subsection 4.9(a)(xiv) allocated to the Series 1998-2 Certificates but available to cover shortfalls in amounts paid from Interest Collections for other Series, if any, or (y) the aggregate amount of Interest Collections allocable to other Series in excess of the amounts necessary to make required payments with respect to such Series, if any, and available to cover shortfalls with respect to the Series 1998-2 Certificates.

Examples of Excess Interest Collections in a sentence

• For any Loan Group, its Excess Interest Collections are the related investor interest collections minus the sum of (a) the interest paid to the related class of Notes, (b) the servicing fee retained by the Master Servicer for the Mortgage Loans in that Loan Group, and (c) the premium paid to the Note Insurer allocable to that Loan Group.

• Any remaining Available Certificateholder Interest Collections shall be treated as Excess Interest Collections, and applied pursuant to Section 4.03(f) of the Agreement.

• Principal Payments o The amount of principal payments on the securities on each payment date will generally equal the amount of principal that was collected on the receivables during the prior calendar month plus Excess Interest Collections minus the overcollateralization distribution amount.

• Refer to the "Credit Enhancement" section for information on Excess Interest Collections.

• The assessment should also consider combustible solids, and the potential for dust explosions.

More Definitions of Excess Interest Collections

Excess Interest Collections means, at any time of determination, the excess of (1) amounts then on deposit in the Collateral Accounts representing Interest Collections over (2) the projected amount required to be paid pursuant to Section 2(o)(i)(A), (B) and (C), on the next Payment Date, any prepayment date or the Maturity Date, as applicable, in each case, as determined by the Borrower in good faith and in a commercially reasonable manner.

Excess Interest Collections with respect to Series 20[ ]-[ ] for any Distribution Date available for other Series in Excess Sharing Group [ ] shall equal the excess, if any, of (a) the Available Series Interest Collections for such Distribution Date over (b) the full amount required to be distributed, without duplication, pursuant to clauses (i) through (xii) of Section 4.04(a) on such Distribution Date.

Excess Interest Collections has, with respect to Series 2010-5, the meaning specified in Section 4.07.

Excess Interest Collections has, with respect to Series 2004-1, the meaning specified in Section 4.07.

Excess Interest Collections with respect to Series 2006-4 for any Distribution Date will equal the excess, if any, of (a) the Available Investor Interest Collections for such Distribution Date, over (b) the full amount required to be distributed, without duplication, pursuant to clauses (i) through (x) of Section 4.04(a) on such Distribution Date.

Excess Interest Collections. With respect to Series 20[ ]-[ ], the meaning specified in Section 4.07. [Fitch: Fitch, Inc.]

Excess Interest Collections means, at any time of determination, the excess of (1) amounts then on deposit in the Controlled Accounts representing Interest Proceeds over (2) the difference of (x) the projected amount required to be paid pursuant to Section 2.04(a) and (b) on the next Payment Date or the Facility Maturity Date, as applicable, minus (y) amounts reasonably expected to be received as Interest Proceeds on the Loan Assets (excluding any Interest Proceeds reasonably expected to be received on Defaulted Loans) prior to the next Determination Date, in each case, as determined by the Borrower in good faith and in a commercially reasonable manner.