Net Monthly Excess Cashflow definition

Net Monthly Excess Cashflow. With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

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Net Monthly Excess Cashflow. For any Distribution Date, the excess, if any, of (x) the Available Distribution Amount for the Distribution Date over (y) the sum for the Distribution Date of the aggregate of the Interest Distribution Amounts payable to the holders of the Certificates and the Principal Distribution Amount.

Net Monthly Excess Cashflow. As defined in Section 7.5(d)(iii) hereof.

Examples of Net Monthly Excess Cashflow in a sentence

• Any Principal Distribution Amount remaining undistributed after giving effect to clauses (A) and (B) above shall be used in determining the amount of Net Monthly Excess Cashflow, if any, for such Distribution Date.

• Any Principal Distribution Amount remaining undistributed after giving effect to clauses (A) through (F) above shall be used in determining the amount of Net Monthly Excess Cashflow, if any, for such Distribution Date.

• Any Interest Remittance Amount remaining undistributed after giving effect to subclause (i) through (xiii) above shall be used in determining the amount of Net Monthly Excess Cashflow, if any, for such Distribution Date.

• Notwithstanding anything to the contrary herein, for purposes of determining the Special Hazard Amount, the Fraud Loss Amount and the Bankruptcy Amount as of any date of determination, Special Hazard Losses, Fraud Losses and Bankruptcy Losses paid from Net Monthly Excess Cashflow which would otherwise have been payable to the holders of the Class CE Certificates shall be deemed to have been allocated to the Class CE Certificates.

• Any Group 1 Interest Remittance Amount remaining undistributed after giving effect to subclause (i) through (iii) above shall be used in determining the amount of Group 1 Net Monthly Excess Cashflow, if any, for such Distribution Date.

More Definitions of Net Monthly Excess Cashflow

Net Monthly Excess Cashflow. For any Payment Date, the amount of Available Funds and any Insured Payment remaining after distributions pursuant to clauses (i) through (iii) of Section 3.05 of the Indenture (minus any Insured Payment and any Subordination Reduction Amount).

Net Monthly Excess Cashflow. With respect to any Payment Date, the sum of (i) the amount of Available Funds for such Payment Date remaining after making all payments described in Section 8.01(b) and (c) of the Indenture and (ii) the Excess Subordinated Amount.

Net Monthly Excess Cashflow. With respect to any Distribution Date, the sum of (i) any Overcollateralization Reduction Amount for such Distribution Date and (ii) the excess of (x) the Available Distribution Amount for such Distribution Date over (y) the sum for such Distribution Date of (A) the aggregate Senior Interest Distribution Amounts payable to the Holders of the Class A Certificates, (B) the aggregate Interest Distribution Amounts payable to the holders of the Mezzanine Certificates, (C) the Principal Remittance Amount and (D) any Net Swap Payment or Swap Termination Payment (not caused by the occurrence of a Swap Provider Trigger Event) owed to the Swap Provider.

Net Monthly Excess Cashflow. With respect to any Distribution Date, the sum of (i) any Overcollateralization Reduction Amount for such Distribution Date and (ii) the excess of (x) the Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Senior Interest Distribution Amount, (B) the Interest Distribution Amounts payable to the Mezzanine Certificates, (C) the Principal Remittance Amount and (D) any amount paid to the Certificate Insurer pursuant to Sections 4.01(a)(2) and 4.01(a)(3).

Net Monthly Excess Cashflow. With respect to any Distribution Date, the sum of (i) any Overcollateralization Reduction Amount for such Distribution Date and (ii) the excess of (x) the Available Distribution Amount for such Distribution Date over (y) the sum for such Distribution Date of (A) the aggregate Senior Interest Distribution Amounts payable to the Holders of the Class A Certificates, (B) the aggregate Interest Distribution Amounts payable to the holders of the Mezzanine Certificates, (C) the Principal Remittance Amount and (D) any Net Swap Payment or Swap Termination Payment (not caused by the occurrence of a Swap Provider Trigger Event) owed to the Swap Provider (to the extent such amount has not been paid by the Securities Administrator from any upfront payment received pursuant to any related replacement interest rate swap agreement that may be entered into by the Trustee on behalf of the Supplemental Interest Trust).

Net Monthly Excess Cashflow. With respect to any Distribution Date, the excess of (x) the REMIC II Percentage of the Available Distribution Amount for such Distribution Date over (y) the sum for such Distribution Date of (A) the Interest Distribution Amount payable to the holders of the Class A and Residual Certificates and (B) the sum of the amounts described in clauses (b)(i)(A) through (C) of the definition of Class A Principal Distribution Amount minus the amount of any Subordination Reduction Amount for such Distribution Date.

Net Monthly Excess Cashflow. For any Distribution Date is the amount of funds available for distribution on such Distribution Date remaining after making all distributions of interest and principal on the certificates.