Net WAC Cap Shortfall definition

Net WAC Cap Shortfall. Any Class A Net WAC Cap Shortfall or Class M Net WAC Cap Shortfall. Net WAC Cap Shortfall Carry-Forward Amount: Any Class A Net WAC Cap Shortfall Carry-Forward Amount, Class M Net WAC Cap Shortfall Carry-Forward Amount.
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Net WAC Cap Shortfall. With respect to either the Class A Notes or the Variable Funding Notes, on any Payment Date an amount by which interest that would have accrued on such Notes at the applicable Note Rate during the related Interest Period (without application of the Net WAC Rate) exceeds interest accrued thereon at the Net WAC Rate.
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Net WAC Cap Shortfall. With respect to any Distribution Date and any Class of Class A Certificates, the excess, if any, of (x) interest that would have accrued on such Class of Class A Certificates at the applicable Pass-Through Rate without application of the Net WAC Rate over (y) interest accrued thereon at the Net WAC Rate.
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Examples of Net WAC Cap Shortfall in a sentence

  • The policy will not guarantee the payment of Net WAC Cap Shortfall Carry-Forward Amounts, interest shortfalls relating to the Relief Act or prepayment interest shortfalls.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Class A-II Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund...................115 Section 4.10.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, -------------------------------------------------------------------- Group II-A Basis Risk Shortfall Carry-Forward Amounts, Group II-B Basis ----------------------------------------------------------------------- Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall ------------------------------------------------------------------------ Carry-Forward Amounts; Reserve Fund..................................

  • Net WAC Cap Shortfall: On any Payment Date and with respect to any class of Notes, the excess, if any, of (x) interest that would have accrued on such Notes at the applicable note rate without application of the related Net WAC Rate over (y) interest accrued thereon at the related Net WAC Rate.

  • Distribution of Class A-I Net WAC Cap Shortfall Carry-Forward Amounts, Class A-II Basis Risk Shortfall Carry-Forward Amounts and Class M Net WAC Cap Shortfall Carry-Forward Amounts; Reserve Fund.................92 Section 4.10.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Class A-II Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund...................116 Section 4.10.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Group II-A Basis Risk Shortfall Carry-Forward Amounts, Group II-B Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund..................................115 Section 4.10.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Group II-A Basis Risk Shortfall Carry-Forward Amounts, Group II-B Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund..................................113 Section 4.10.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Group II-A Basis Risk Shortfall Carry-Forward Amounts, Group II-B Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund..................................119 Section 4.10.

  • That report would not identify any participating State by name, but would be grouped under broad themes.


More Definitions of Net WAC Cap Shortfall

Net WAC Cap Shortfall. With respect to any Distribution Date and any Class of Class A Certificates, the excess, if any, of (x) interest that would have accrued on such Class of Class A Certificates at the applicable Pass-Through Rate without application of the Net WAC Cap Rate over (y) interest accrued thereon at the Net WAC Cap Rate. Net WAC Cap Rate: With respect to any Distribution Date, a per annum rate equal to (i) the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs minus (ii) the product of (a) the Credit Enhancer Premium Rate and (b) a fraction expressed as a percentage the numerator of which is the Certificate Principal Balance of the Class A Certificates as of such Distribution Date and the denominator of which is the aggregate Principal Balance of the Mortgage Loans as of such Distribution Date. With respect to the Class A-1V Certificates, the Net WAC Cap Rate is further adjusted by multiplying the Net WAC Cap Rate by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Interest Accrual Period. The foregoing rate is equal to the weighted average of the Uncertificated REMIC I Pass-Through Rates with respect to the REMIC I Regular Interests, weighted in each case by their respective Uncertificated Principal Balances. Non-Primary Residence Loans: The Mortgage Loans designated as secured by second or vacation residences, or by non-owner occupied residences, on the Mortgage Loan Schedule. Non-United States Person: Any Person other than a United States Person.
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Related to Net WAC Cap Shortfall

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Net WAC Cap The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Note Principal Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the sum of the Note Monthly Principal Distributable Amount plus any outstanding Note Principal Carryover Shortfall for the preceding Payment Date, over the amount in respect of principal that is actually paid as principal on the Notes on such Payment Date.

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.

  • 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.

  • Unpaid Basis Risk Shortfall With respect to any Distribution Date and any LIBOR Certificate, the aggregate of all Basis Risk Shortfalls with respect to such Certificate remaining unpaid from previous Distribution Dates, plus interest accrued thereon at the applicable Certificate Interest Rate (calculated without giving effect to the applicable Net Funds Cap) but limited to a rate no greater than the applicable Maximum Interest Rate.

  • Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.

  • 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).

  • Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class B Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed to the class B noteholders on that distribution date.

  • Class A Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class A Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed or allocated to the class A noteholders or deposited into the accumulation account on that distribution date.

  • 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 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).

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Noteholders' Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Noteholders’ Principal Distributable Amount for the preceding Distribution Date over the amount in respect of principal that is actually paid as principal on the Notes on such previous Distribution Date. Noteholders’ Principal Carryover Shortfall is not used to determine the amount of principal due on the Notes on any Distribution Date, but is used solely for reporting purposes.

  • Principal Carryover Shortfall means, as of the close of business on any Payment Date, the excess, if any, of the Principal Distribution Amount over the Monthly Principal Distributable Amount.