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: Xxxxx’x 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.
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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.
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Examples of INTEREST SHORTFALLS in a sentence

  • PREPAYMENT INTEREST SHORTFALLS: With respect to any distribution date, the aggregate shortfall, if any, in collections of interest resulting from mortgagor prepayments on the mortgage loans during the preceding calendar month.

  • THE GROUP I POLICY WILL NOT COVER ANY PREPAYMENT INTEREST SHORTFALLS OR RELIEF ACT SHORTFALLS NOR ANY REDUCTION IN ACCRUED INTEREST DUE TO THE APPLICATION OF THE NET WAC RATE APPLICABLE TO THE CLASS I NOTES AND IS FOR THE BENEFIT OF THE CLASS I NOTEHOLDERS ONLY.

  • 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: Prepayment interest shortfalls not covered by the servicing fee will be allocated pro rata among all Classes of Certificates on the basis of their respective interest entitlements.

  • 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.

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

  • GROUP I INTEREST SHORTFALLS AND CARRYOVERS: If the Group I Amount Available on any Payment Date is insufficient to make the full distributions of interest to a class of Group I certificates (the Class AF Certificates being treated as a single class for this purpose), the Group I Amount Available remaining after payments with a higher payment priority are made will be distributed pro rata among such class.

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

  • This could have been overwhelming to some of the team members and in effect slowing down the connection process with their team.

  • See photo page 30.We saw out the old year and saw in the new year by having a time of fellowship and food followed by worship to bring in the new year.


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.
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INTEREST SHORTFALLS or "Prepayment Interest Shortfalls" as defined in the Underlying Agreements.
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INTEREST SHORTFALLS means, with respect to any Series and Distribution Date, the amount specified as such in the related Indenture Supplement.
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INTEREST SHORTFALLS attributable to Principal Prepayments in full on the Litton Mortgage Loans for the rxxxxxx 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 Servxxxx xhall 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.
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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.
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Related to INTEREST SHORTFALLS

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Net Interest Shortfalls means Interest Shortfalls net of payments by the Company, the Servicer or the Master Servicer in respect of Compensating Interest.

  • Unpaid Interest Shortfalls Each of the Class A Unpaid Interest Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4 Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class B-6 Unpaid Interest Shortfall.

  • Net Prepayment Interest Shortfalls As to any Distribution Date and Loan Group, the amount by which the aggregate of Prepayment Interest Shortfalls for that Loan Group during the related Prepayment Period exceeds the amount of Compensating Interest available to such Loan Group for such Distribution Date.

  • 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 calendar month as a result of the application of the Relief Act.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Net Simple Interest Shortfall With respect to any Distribution Date, the excess, if any, of (a) 30 days’ interest at the weighted average (by principal balance) of the Net Mortgage Rates of the Simple Interest Mortgage Loans as of the first day of the related Due Period, as determined by the Servicer, on the aggregate principal balance of such Simple Interest Mortgage Loans for such Remittance Date, carried to six decimal places, rounded down, and calculated on the basis of a 360-day year consisting of twelve 30-day months, over (b) the amount of the payments received by the Servicer in the related Due Period allocable to interest in respect of such Simple Interest Mortgage Loans, calculated in accordance with the Simple Interest Method, net of the related Servicing Fees.

  • Prepayment Interest Shortfall As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Class B-5 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-5 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph seventeenth of Section 4.01(a).

  • Class B-1 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-1 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph fifth of Section 4.01(a).

  • Class A Interest Shortfall Amount As to any Distribution Date and any Class of Class A Certificates, any amount by which the Interest Accrual Amount of such Class with respect to such Distribution Date exceeds the amount distributed in respect of such Class on such Distribution Date pursuant to Paragraph first of Section 4.01(a).

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Class B Interest Shortfall Amount Any of the Class B-1 Interest Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest Shortfall Amount or Class B-6 Interest Shortfall Amount.

  • Relief Act Shortfalls With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Civil Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Class B-2 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-2 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph eighth of Section 4.01(a).

  • Class B-5 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-5 Certificates on prior Distribution Dates pursuant to Paragraph eighteenth of Section 4.01(a).

  • Non-Supported Interest Shortfalls As to any Distribution Date, the amount, if any, by which the aggregate of Prepayment Interest Shortfalls exceeds Compensating Interest for such Distribution Date.

  • Net Prepayment Interest Shortfall For any Distribution Date, the amount by which the sum of the Prepayment Interest Shortfalls exceeds the sum of the Compensating Interest payments made on such Distribution Date.