INTEREST SHORTFALLS definition

INTEREST SHORTFALLS. With respect to any Distribution Date, any Accrued Certificate Interest that is not paid to the Holders of the Certificates due to Noteholders' Interest Carryover Shortfalls (as defined in the Underlying Indenture) allocated to the Underlying Notes pursuant to the Underlying Indenture, as reported on a Statement to Underlying Noteholders provided by the Administrator.

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INTEREST SHORTFALLS. With respect to any Distribution Date, any Accrued Certificate Interest that is not paid to the Holders of the Certificates due to Noteholders’ Interest Carryover Shortfalls (as defined in the Underlying Indenture) allocated to the Underlying Notes pursuant to the Underlying Indenture, as reported on a Statement to Underlying Noteholders provided by the Administrator. MAJORITY CERTIFICATEHOLDERS: Holders of Certificates evidencing a ratio in excess of 50% determined by the numerator equal to the aggregate of the Current Principal Amount of all Class A-5 Certificates held by Holders voting in favor of an amendment or proposed action plus the aggregate of the Current Notional Amount of all Class A-IO Certificates held by Holders voting in favor of an amendment or proposed action and the denominator equal to the aggregate of the Current Principal Amount of all Class A-5 Certificates plus the aggregate of the Current Notional Amount of all Class A-IO Certificates. MOODY'S: ▇▇▇▇▇’▇ Investors Service, Inc. or its successor in interest. ONE-MONTH LIBOR: One-Month LIBOR as determined by the Underlying Indenture Trustee pursuant to the Underlying Indenture.

INTEREST SHORTFALLS. As to any Distribution Date and any Class of Certificates, the amount allocated to the Underlying Certificates as provided in the Pooling and Servicing Agreement in connection with voluntary principal prepayments and Solider's and Sailor's Civil Relief Act shortfalls, the interest portion of Realized Losses, and any other amounts allocated in reduction of the interest distributed on the Underlying Certificates on the related Underlying Distribution Date.

Examples of INTEREST SHORTFALLS in a sentence

• ALLOCATION OF CERTAIN INTEREST SHORTFALLS ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES SECTION 2.01.

• FOR THE AVOIDANCE OF DOUBT, NO SUCH REIMBURSEMENT SHALL BE REQUIRED TO BE MADE IN CONNECTION WITH PREPAYMENT INTEREST SHORTFALLS RESULTING FROM INVOLUNTARY PRINCIPAL PREPAYMENTS EXCEPT TO THE EXTENT THE PRIMARY SERVICER DID NOT APPLY THE PROCEEDS OF SUCH INVOLUNTARY PRINCIPAL PREPAYMENTS IN ACCORDANCE WITH THE TERMS OF THE RELATED MORTGAGE LOAN DOCUMENTS.

• OBLIGATIONS OF THE MASTER SERVICER IN RESPECT OF PREPAYMENT INTEREST SHORTFALLS........- 92 - Section 3.25.

• The Union may change the dues structure once each year during the life of this Agreement by giving the District at least thirty (30) days' notice of any change in the dues structure.

• PREPAYMENT INTEREST SHORTFALLS AND EXCESSES (A) FOR ANY MORTGAGE LOAN, PRIMARY SERVICER SHALL REQUIRE PRINCIPAL PREPAYMENTS TO BE MADE SO AS NOT TO CAUSE A PREPAYMENT INTEREST SHORTFALL.

• ALLOCATION OF EXTRAORDINARY TRUST FUND EXPENSES, INTEREST SHORTFALLS AND REALIZED LOSSES.....................................................................................28 3.07.

More Definitions of INTEREST SHORTFALLS

INTEREST SHORTFALLS means with respect to any Series and Payment Date, the amount, if any, by which interest distributions to Noteholders of such Series are not covered out of Interest Collections and other amounts allocated to such Series to make such distributions, as set forth in the related Indenture Supplement.

INTEREST SHORTFALLS means with respect to any Series and Payment Date, the excess, if any, of (a) the full amount required to be paid by Series Investor Available Interest Amounts for such Series pursuant to the related Indenture Supplement on such Payment Date over (b) the Series Investor Available Interest Amounts for such Series for such Payment Date.

INTEREST SHORTFALLS or "Prepayment Interest Shortfalls" as defined in the Underlying Agreements.

INTEREST SHORTFALLS attributable to Principal Prepayments in full on the Litton Mortgage Loans for the r▇▇▇▇▇▇ Distribution Date resulting solely from voluntary Principal Prepayments received by the Servicer during the related Prepayment Period and (ii) 50% of its aggregate Servicing Fees for the most recently ended Prepayment Period with respect to the Litton Mortgage Loans. The Serv▇▇▇▇ ▇hall not have the right to reimbursement for any amounts remitted to the Securities Administrator in respect of this Section 3.22. The Servicer shall not be obligated to pay the amounts set forth in this Section 3.22 with respect to shortfalls resulting from the application of the Relief Act.

INTEREST SHORTFALLS means, with respect to any Series and Distribution Date, the amount specified as such in the related Indenture Supplement.