LIBOR Carryover Amount definition

LIBOR Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for (a) the Class AV-1 Certificates is based upon the Group I Available Funds Cap or (b) the Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 or Class B-4 Certificates is based on the Subordinate Rate Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate (up to but not exceeding the Group I Maximum Rate Cap in the case of the Class AV-1 Certificates and up to but not exceeding the Subordinate Maximum Rate Cap in the case of the Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates), over (ii) the amount of interest such Certificate was entitled to receive on such Distribution Date based on the applicable Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Certificate).

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LIBOR Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Offered Certificate or Class B Certificate is based upon the related Rate Cap, the excess of (i) the amount of interest accrued on such Certificate based on the related Pass-Through Rate (without regard to the related Rate Cap), over (ii) the amount of interest accrued on such Certificate based on the related Rate Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate (without regard to the related Rate Cap) on such Certificate).

LIBOR Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for the Offered Certificates is based on the Pool Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate, over (ii) the amount of interest such Certificate received on such Distribution Date based on the Pool Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Certificate).

Examples of LIBOR Carryover Amount in a sentence

By accepting a Class X/N Certificate, each Class X/N Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the LIBOR Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any LIBOR Carryover Amount rather than distributing such amounts to the Class X/N Certificateholders.
The amount required to be deposited into the LIBOR Carryover Fund on any Distribution Date (the "LIBOR Carryover Fund Deposit") will equal the lesser of (i) the Available LIBOR Carryover Amount and (ii) any LIBOR Carryover for such Distribution Date or, if no LIBOR Carryover is payable on such Distribution Date, an amount such that when added to other amounts already on deposit in the LIBOR Carryover Fund, the aggregate amount on deposit therein will be equal to $10,000.
On each Distribution Date as to which there is a LIBOR Carryover Amount payable to the Class A-1 Certificates, the Trustee has been directed by the Class X/N Certificateholders to, and therefore will, deposit into the LIBOR Carryover Reserve Account the amounts described in Section 4.02(B)(xxviii), rather than distributing such amounts to the Class X/N Certificateholders.
To the extent any LIBOR Carryover Amount is paid from funds other than the Yield Maintenance Agreement, such payment shall be treated as distributed to REMIC A in respect of the REMIC A Class X/N Interest and then paid to the applicable Class of Certificates pursuant to the related interest rate cap agreement.
For federal tax return and information reporting, the value of the right of the Class A-1 Certificateholders to receive payments from the LIBOR Carryover Reserve Account in respect of any LIBOR Carryover Amount may be obtained from the Trustee upon request.

More Definitions of LIBOR Carryover Amount

LIBOR Carryover Amount. Either the Class A-1F LIBOR Carryover Amount or the Class A-1A LIBOR Carryover Amount.

LIBOR Carryover Amount. For any Distribution Date and any Class A-1 Certificate, the excess of (i) the amount of interest accrued on such Certificate based on the related Pass-Through Rate (without regard to the related Rate Cap), over (ii) the amount of interest accrued on such Certificate based on the related Rate Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate (without regard to the related Rate Cap)) on such Certificate.

LIBOR Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for the Class A-1A Certificates is based upon the related Maximum Rate, the excess of (i) the amount of interest the Class A-1A Certificates would have been entitled to receive on such Distribution Date based on the Class A-1A Pass-Through Rate, over (ii) the amount of interest the Class A-1A Certificates received on such Distribution Date based on such Maximum Rate, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Class A-1A Pass-Through Rate).

LIBOR Carryover Amount. With respect to the Offered Certificates and any Distribution Date, the sum of (i) the excess, if any, of the LIBOR Shortfall for such Class on the preceding Distribution Date and any LIBOR Carryover Amount for such Class on such preceding Distribution Date over the amount, if any, actually distributed in respect thereof on such preceding Distribution Date and (ii) 30 days' interest on such excess at the LIBOR Rate applicable to such Class and the current Distribution Date.

LIBOR Carryover Amount. As to any Class of Offered Certificates and any Distribution Date, the sum of (i) the excess, if any, of the related Class Monthly Interest Amount calculated on the basis of the related Formula Rate over the related Class Monthly Interest Amount calculated at the Net Funds Cap, (ii) any LIBOR Carryover Amount remaining unpaid from prior Distribution Dates and (iii) 30 days' interest on the amount in clause (ii) calculated on the basis of the related Formula Rate. For purposes of this definition, Supplemental Interest Payments shall reduce the amount in clause (ii) with respect to the Class A Certificates.

LIBOR Carryover Amount. With respect to any Distribution Date and any Class of Class A Certificates, the aggregate of all LIBOR Shortfalls with respect to such Class remaining unpaid from previous Distribution Dates, plus interest accrued thereon at the applicable LIBOR Rate.

LIBOR Carryover Amount. With respect to any Payment Date and the Class A-1 Bonds, the sum of (i) the excess, if any, of the Monthly Interest Amount calculated on the basis of the Class A-1 Bond Interest Rate (with regard to the CAP Rate but without regard to the Class A-1 Net Funds Cap applicable to such Payment Date) over the sum of (a) related Monthly Interest Amount calculated on the basis of the Class A-1 Net Funds Cap, (ii) any LIBOR Carryover Amount remaining unpaid from prior Payment Dates and (iii) interest on the amount in clause (ii) calculated on the basis of the Class A-1 Bond Interest Rate (with regard to the CAP Rate but without regard to the Class A-1 Net Funds Cap applicable to such Payment Date).