Interest Remittance Amount definition
Interest Remittance Amount. For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.
Interest Remittance Amount. With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Mortgage Loans.
Interest Remittance Amount. With respect to any Distribution Date and the Mortgage Loans in a Loan Group, that portion of Available Funds attributable to interest relating to Mortgage Loans in that Loan Group.
Examples of Interest Remittance Amount in a sentence
Any Compensating Interest Payments made by the Servicers shall be a component of the Interest Remittance Amount.
In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Master Servicer shall remit any related Compensating Interest as part of the related Interest Remittance Amount as provided in this Agreement.
Any Compensating Interest Payments made by the Servicer shall be a component of the Interest Remittance Amount.
The Trustee shall, promptly upon receipt, deposit in the Distribution Account and retain therein the Interest Remittance Amount and the Principal Remittance Amount remitted on each Servicer Remittance Date to the Trustee by the Servicer.
Any Interest Remittance Amount remaining undistributed after giving effect to subclause (i) through (xiii) above shall be used in determining the amount of Net Monthly Excess Cashflow, if any, for such Distribution Date.
More Definitions of Interest Remittance Amount
Interest Remittance Amount. With respect to any Distribution Date, that portion of the Available Distribution Amount for such Distribution Date allocable to interest.
Interest Remittance Amount. With respect to any Distribution Date, the sum of: (i) the Group I Interest Remittance Amount and (ii) the Group II Interest Remittance Amount.
Interest Remittance Amount. With respect to any Payment Date and with respect to all of the Mortgage Loans, (a) the sum of (1) all interest collected (other than Payaheads) or advanced in respect of Scheduled Payments on the Mortgage Loans during the related Collection Period by the Servicers, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus (w) the LPMI Insurance Premiums related to the Mortgage Loans and any state taxes imposed on such premiums, (x) the Servicing Fee, the Owner Trustee Fee and the Indenture Trustee Fee with respect to such Mortgage Loans, (y) previously unreimbursed Advances due to the Servicers, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans and (z) any fees and expenses of any Custodian to the extent not paid by the Depositor or its Affiliates pursuant to Section 6 of the applicable Custodial Agreement, (2) any Compensating Interest Payments with respect to the related Prepayment Period with respect to the Mortgage Loans, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Indenture Trustee, the Administrator, the Custodians, the Master Servicer and each Servicer to the extent provided in this Agreement, the Indenture, the Administration Agreement, the Custodial Agreements and each Servicing Agreement; provided, however, that in the case of the Indenture Trustee and the Administrator, such reimbursable amounts may not exceed $200,000 in the aggregate during any Anniversary Year. In the event that the Indenture Trustee incurs reimbursable amounts in excess of $200,000, it may seek reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than $200,000 be reimbursed to the Indenture Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Indenture Trustee pursuant to Section 4.10(a) in connection with any transfer of servicing shall be excluded from the $200,000 per A...
Interest Remittance Amount. The Group I Interest Remittance Amount and the Group II Interest Remittance Amount.
Interest Remittance Amount. With respect to any Distribution Date and the Mortgage Loans in any Loan Group, that portion of Available Funds attributable to interest received or advanced with respect to the Mortgage Loans in such Loan Group, net of the fees payable to the Servicer and the Trustee, and net of any Net Swap Payments and Swap Termination Payments, other than Defaulted Swap Termination Payments, payable to the Swap Provider from Available Funds attributable to such Loan Group with respect to such Distribution Date.
Interest Remittance Amount. As of any Determination Date, the sum of the Group 1 Interest Remittance Amount and the Group 2 Interest Remittance Amount.
Interest Remittance Amount. For any Distribution Date, the sum of the following amounts: