M1 Principal Distribution Amount definition

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates, in each case after giving effect to distributions on such Distribution Date and after the allocation of Deferred Interest, if any, for such Distribution Date, and (ii) the Class Principal Amount of the Class M1 Certificates after the allocation of Deferred Interest, if any, for such Distribution Date and immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class 1-A1, Class 1-A2, Class 2-A, Class 3-A1, Class 3-A2 and Class 3-A3 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

Examples of M1 Principal Distribution Amount in a sentence

• To the Class M-1 Certificates, the Class M-1 Principal Distribution Amount for the Distribution Date, excluding any Subordination Increase Amount included in that amount, until the Certificate Principal Balance thereof is reduced to zero.

• To the Class M-1 Certificates, the Class M-1 Principal Distribution Amount for the applicable Distribution Date, excluding any Subordination Increase Amount included in that amount, until its Certificate Principal Balance is reduced to zero.

• To the extent of any Principal Distribution Amount remaining after distribution of the Senior Principal Distribution Amount to the holders of the Senior Certificates (other than the Class A-IO Certificates) on such Distribution Date, to the Class M-1 Certificates, in an amount equal to the Class M-1 Principal Distribution Amount for such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.

• Pursuant to Maryland Rule 8-131(a), this Court will ordinarily “not decide any [] issue unless it plainly appears by the record to have been raised in or decided by the trial court[.]” Appellant neither raised this issue before the circuit court5 nor objected to the court’s decision to hear the parties’ arguments on Employer’s motion to strike.

• To the extent of any Principal Distribution Amount remaining after distribution of the Senior Principal Distribution Amount to the Holders of the Senior Certificates (other than the Class A-IO Certificates) on such Distribution Date, to the Class M-1 Certificates, in an amount equal to the Class M-1 Principal Distribution Amount for such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.

More Definitions of M1 Principal Distribution Amount

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Certificate Principal Amount of the Senior Certificates after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 91.00% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Aggregate Loan Balance.

M1 Principal Distribution Amount. With respect to any Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class IA1, Class IA2, Class IA3, Class IA4 and Class IIA Certificates, after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

M1 Principal Distribution Amount. With respect to each Mortgage Pool and any Distribution Date on or after the applicable Stepdown Date and as long as a Trigger Event has not occurred with respect to such Mortgage Pool and such Distribution Date, the amount, if any, by which (x) the sum of (i) the Certificate Principal Amount of the related Senior Certificates after giving effect to distributions on such Distribution Date and (ii) the Component Principal Amount of the related Component of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 75.34% with respect to Pool 1 and 77.95% with respect to Pool 2 and (ii) the Pool Balance for such Mortgage Pool as of the last day of the related Collection Period and (B) the amount, if any, by which (i) the Pool Balance for such Mortgage Pool as of the last day of the related Collection Period exceeds (ii) 0.50% of the related Cut-off Date Pool Balance.

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A1-A, Class A1-B1, Class A1-B2, Class A1-C1, Class A1-C2, Class A1-D1, Class A1-D2, Class A2-A, Class A2-B, Class A2-C and Class A3-A Certificates after giving effect to distributions on such Distribution Date and after the allocation of Deferred Interest, if any, for such Distribution Date, and (ii) the Class Principal Amount of the Class M1 Certificates after the allocation of Deferred Interest, if any, for such Distribution Date, and immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class 1-A1, Class 1-A2, Class 2-A, Class 3-A1, Class 3-A2, Class 3-A3, Class 3-A4, Class 3-A5 and Class A4 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

M1 Principal Distribution Amount. With respect to any Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Certificate Principal Amount of the Senior Certificates after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 81.57% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Aggregate Loan Balance.

M1 Principal Distribution Amount. With respect to any Distribution Date on or after the Pool 1 Stepdown Date and as long as a Pool 1 Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class 1-A Certificates, in each case, after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class 1-M1 Certificates immediately prior to such Distribution Date exceeds (y) the 1-M1 Target Amount.