Examples of Interest Shortfall in a sentence
Relief Act Interest Shortfall: With respect to any Distribution Date and any Mortgage Loan, any reduction in the amount of interest collectible on such Mortgage Loan for the most recently ended Due Period as a result of the application of the Relief Act.
Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer, unless a Servicer pays such Prepayment Interest Shortfall amount for a Distribution Date subsequent to that Distribution Date on which the Master Servicer paid such Compensating Interest Payment.
Notwithstanding any provision of the Agreement or this Series Supplement, the failure to distribute the full amount of Series 2009 Monthly Interest or unpaid Series 2009 Interest Shortfall on any Distribution Date shall not be an Amortization Event as long as all funds on deposit in the Interest Funding Account are applied to the payment of such amounts.
The Master Servicer shall deliver to the Trustee for deposit in the Distribution Account not later than the related Distribution Account Deposit Date an amount equal to the sum of the aggregate amounts paid by the Servicers under the related Servicing Agreement with respect to subclauses (a) and (b) of the definition of Interest Shortfall with respect to the Mortgage Loans for the related Distribution Date.
On the Closing Date, the Cash Manager will establish the Class A Interest Shortfall Ledger which shall record as a credit the Class A Interest Shortfall drawn from the Liquidity Facility and paid into the Issuer Transaction Account for the account of the Issuer in accordance with the relevant Priority of Payments.