Maximum Uncertificated Accrued Interest Deferral Amount definition

Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralized Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ, IO and P), with the rate on each such REMIC II Regular Interest subject to a cap equal to the lesser of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate and (y) the Net Rate Cap for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest LTZZ minus the REMIC 2 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on REMIC 2 Regular Interest LTAV1, REMIC 2 Regular Interest LTAV2, REMIC 2 Regular Interest LTAV3, REMIC 2 Regular Interest LTAF1, REMIC 2 Regular Interest LTAF2, REMIC 2 Regular Interest LTAF3, REMIC 2 Regular Interest LTAF4, REMIC 2 Regular Interest LTAF5, REMIC 2 Regular Interest LTAF6, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8 and REMIC 2 Regular Interest LTM9, with the rate on each such REMIC 2 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 2 Pass-Through Rate and the related caps with respect to each such REMIC 2 Regular Interest for which the Corresponding Certificate is a Group I Certificate shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Period and the denominator of which is 30.
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 1 Pass Through Rate applicable to REMIC 1 Regular Interest LT-ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 1 Regular Interest LT-ZZ minus the REMIC 1 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on each REMIC 1 Regular Interest (other than REMIC 1 Regular Interest LT-ZZ and REMIC 1 Regular Interest LT-P), with the rate on each such REMIC 1 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 1 Pass-Through Rate and the related caps with respect to each such REMIC 1 Regular Interest (other than REMIC 1 Regular Interest LT-A1, REMIC 1 Regular Interest LT-A2, REMIC 1 Regular Interest LT-A3-1, REMIC 1 Regular Interest LT-A3-2 and REMIC 1 Regular Interest LT-ZZ) shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Accrual Period and the denominator of which is 30.

More Definitions of Maximum Uncertificated Accrued Interest Deferral Amount

Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 1 Pass-Through Rate applicable to REMIC 1 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 1 Regular Interest LTZZ minus the REMIC 1 Overcollateralization Amount, in each case for such Distribution Date, over (b) Uncertificated Accrued Interest on REMIC 1 Regular Interest LTA1 with the rate on REMIC 1 Regular Interest LTA1 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class A-1 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation; Uncertificated Accrued Interest on REMIC 1 Regular Interest LTA2 with the rate on REMIC 1 Regular Interest LTA2 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class A-2 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation; Uncertificated Accrued Interest on REMIC 1 Regular Interest LTM1 with the rate on REMIC 1 Regular Interest LTM1 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class M-1 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation; Uncertificated Accrued Interest on REMIC 1 Regular Interest LTM2 with the rate on REMIC 1 Regular Interest LTM2 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class M-2 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation; Uncertificated Accrued Interest on REMIC 1 Regular Interest LTM3 with the rate on REMIC 1 Regular Interest LTM3 subject to a cap equal to the Pass-Through Rate of the Class M-3 Certificates for the purpose of this calculation for such Distribution Date; Uncertificated Accrued Interest on REMIC 1 Regular Interest LTM4 with the rate on REMIC 1 Regular Interest LTM4 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class M-4 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation for such Distribution Date; and Uncertificated Accrued Interest on REMIC 1 Regular Interest LTM5 with the rate on REMIC 1 Regular Interest LTM5 subject to a cap equal to the lesser of (i) LIBOR plus the Certificate Margin of the Class M-5 Certificates and (ii) the related Maximum Cap Rate for the purpose of this calculation for such Distribution Date provided, however, that for this pur...
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC I Pass-Through Rate applicable to REMIC I Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC I Regular Interest ZZ minus the REMIC I Overcollateralized Amount, in each case for such Distribution Date, over (ii) Uncertificated Accrued Interest on REMIC I Regular Interest I-A-1, REMIC I Regular Interest I-A-2, REMIC I Regular Interest II-A, REMIC I Regular Interest III-A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest M-6, REMIC I Regular Interest M-7A and REMIC I Regular Interest M-7B for such Distribution Date, with the rate on each such REMIC I Regular Interest subject to a cap equal to the lesser of (i) the One-Month LIBOR Pass-Through Rate for the Corresponding Certificate and (ii) the Net Rate Cap for the Corresponding Certificate for the purpose of this calculation for such Distribution Date.
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 1 Pass-Through Rate applicable to REMIC 1 Regular Interest LT-ZZ for such Distribution Date on a balance equal to the excess of (i) the Uncertificated Principal Balance of REMIC 1 Regular Interest LT-ZZ over (ii) the REMIC 1 Overcollateralized Amount, in each case for such Distribution Date over (b) the sum of (I) Uncertificated Accrued Interest on REMIC 1 Regular Xxxxxxxx XX-X0, REMIC 1 Regular Interest LT-A2, REMIC 1 Regular Interest LT-A3, REMIC 1 Regular Interest LT-M1, REMIC 1 Regular Interest LT-M2, REMIC 1 Regular Interest LT-M3, REMIC 1 Regular Interest LT-M4,
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest MT-ZZ for such Distribution Date on a balance equal to the excess of (i) the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-ZZ over (ii) the REMIC 2 Overcollateralized Amount, in each case for such Distribution Date over (b) the sum of (I) Uncertificated Accrued Interest on REMIC 2 Regular Xxxxxxxx XX-X0, with the rate on REMIC 2 Regular Interest MT-A1 subject to a cap equal to the lesser of (x) LIBOR plus 0.26% per annum and (y) the Net WAC Rate, (II) Uncertificated Accrued Interest on REMIC 2 Regular Xxxxxxxx XX-X0, with the rate on REMIC 2 Regular Interest MT-A2 subject to a cap equal to the lesser of (x) 5.21% per annum and (y) the Net WAC Rate, (III) Uncertificated Accrued Interest on REMIC 2 Regular Xxxxxxxx XX-X0, with the rate on REMIC 2 Regular Interest MT-A3 subject to a cap equal to the lesser of (x) 6.36% per annum and (y) the Net WAC Rate, (IV) Uncertificated Accrued Interest on REMIC 2 Regular Xxxxxxxx XX-X0, with the rate on REMIC 2 Regular Interest MT-A4 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) 7.00% per annum and (y) the Net WAC Rate and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) 7.50% per annum and (y) the Net WAC Rate, (V) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-M1 with the rate on REMIC 2 Regular Interest MT-M1 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) 6.96% per annum and (y) the Net WAC Rate and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) 7.46% per annum and (y) the Net WAC Rate for the purpose of this calculation, (VI) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-M2, with the rate on REMIC 2 Regular Interest MT-M2 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) 7.18% per annum and (y) the Net WAC Rate and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) 7.68% per annum and (y) the Net WAC Rate for the purpose of calculation, (VII) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-B, wit...
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest MT-ZZ for such Distribution Date on a balance equal to the excess of (i) the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-ZZ over (ii) the REMIC 2 Overcollateralized Amount, in each case for such Distribution Date over (b) the sum of (I) Uncertificated Accrued Interest on REMIC 2 Regular Xxxxxxxx XX-X0, with the rate on REMIC 2 Regular Interest MT-A1 subject to a cap equal to the lesser of (x) 4.45% per annum and (y) the Net WAC Rate, (II) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-M1 with the rate on REMIC 2 Regular Interest MT-M1 subject to a cap equal to the lesser of (x) 5.02% per annum and (y) the Net WAC Rate, (III) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-M2, with the rate on REMIC 2 Regular Interest MT-M2 subject to a cap equal to the lesser of (x) 5.22% per annum and (y) the Net WAC Rate, (IV) Uncertificated Accrued Interest on REMIC 2 Regular Interest MT-B, with the rate on REMIC 2 Regular Interest MT-B subject to a cap equal to the lesser of (x) 5.92% per annum and (y) the Net WAC Rate.
Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 1 Pass-Through Rate applicable to REMIC 1 Regular Interest ZZ for such Distribution Date on a balance equal to the excess of (i) the Uncertificated Principal Balance of REMIC 1 Regular Interest ZZ over (ii) the REMIC 1 Overcollateralized Amount, in each case for such Distribution Date over (b) the sum of (I)