Interest Deficiency definition

Interest Deficiency. With respect to any Distribution Date and Group, the amount by which the Available Funds for such Group (applied in the order described in Section 5.01(a)) is insufficient to pay the Interest Distribution for the related Class of Notes on such Distribution Date.

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Interest Deficiency. With respect to the Pooled FNMA 93-256/F Certificates, on each FNMA Pooled Certificate Distribution Date, the interest, if any, accrued and unpaid on the principal balance of the Pooled FNMA 93-256/F Certificates prior to the immediately preceding Interest Accrual Period that has not been previously paid.

Interest Deficiency means, for each Fiscal Year, the amount ------------------- by which (a) the aggregate amount of Series B Note Interest accruing during each Accounting Period of each Fiscal Year exceeds (b) the aggregate amount of Series B Note Interest paid during those Accounting Periods.

Examples of Interest Deficiency in a sentence

Such Interest Deficiency Notice shall include (i) the name of the applicable Borrower, (ii) the Monthly Interest Deficiency Amount and (iii) a demand for payment thereof.
Each Primary Dealer shall immediately forward all Interest Deficiency Notices to the appropriate Borrowers.
If the applicable Monthly Report indicates that there is a Class M-1 Interest Deficiency Amount, a Class M-2 Interest Deficiency Amount and/or a Class B-1 Interest Deficiency Amount, the Servicer shall promptly notify the Trustee, by telephone, of the aggregate amount of such Class M-1 Interest Deficiency Amount, Class M-2 Interest Deficiency Amount and Class B-1 Interest Deficiency Amount.
Each TALF Agent shall immediately forward all Interest Deficiency Notices to the appropriate Borrowers.
One Business Day before each Payment Date, no later than 1:00 p.m. New York time, the Servicer shall remit to the Indenture Trustee for deposit into the Note Payment Account (i) the Amount Available and (ii) from Amounts Held for Future Distribution, the Interest Deficiency Remedy Amount for such Payment Date.
Two Business Days before each Payment Date, no later than 1:00 p.m. New York time, the Indenture Trustee shall notify the Servicer of the Interest Deficiency Remedy Amount, if any, payable on the Notes for such Payment Date.
Upon receipt of any payments on behalf of the Trust under the Policy, the Trustee shall deposit any Interest Deficiency Draw Amount and/or Principal Deficiency Draw Amount in the Note Payment Account.
The Notice for Payment shall specify the amount of the Interest Deficiency Draw Amount and/or the Final Principal Deficiency Amount (as each such term is defined in the Policy) and shall constitute a claim pursuant to the Policy.
If the Servicer determines that the total amount of funds in the Certificate Account so reported by the Trustee (after giving effect to the withdrawal of the Sub-Pool HE Amount Available and any Class HE: B-2 Guaranty Payment for the related Payment Date) will be sufficient to pay in full any Class HE: M-1 Interest Deficiency Amount, Class HE: M-2 Interest Deficiency Amount and Class HE: B-1 Interest Deficiency Amount, the Servicer shall so indicate on the Monthly Report.
If the Servicer determines that the total amount of funds in the Certificate Account so reported by the Trustee (after giving effect to the withdrawal of the Available Funds for the related Remittance Date) will be sufficient to pay in full the Class M-1 Interest Deficiency Amount, if any, and the Class B-1 Interest Deficiency Amount, the Servicer shall so indicate on the Monthly Report.

More Definitions of Interest Deficiency

Interest Deficiency has the meaning specified in Section 4.02(b).

Interest Deficiency shall have the meaning provided in Section 11.02(a). “Interest Rate Agreement” shall mean any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement or other similar agreement or arrangement.

Interest Deficiency means an amount equal to the amount of interest due by Borrower on a Payment Date as specified on Schedule 2.03 less the amount of interest actually paid by Borrower on such Payment Date.