Net WAC Rate Carryover Amount. For any Distribution Date on which the Pass-Through Rate for any Class of LIBOR Certificates is equal to the related Net WAC Rate, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class accrued for such Distribution Date at the related Formula Rate, over (y) the amount of interest such Class accrued for such Distribution Date at the related Net WAC Rate and (ii) the unpaid portion of any Net WAC Rate Carryover Amount from the prior Distribution Date together with interest accrued on such unpaid portion for the most recently ended Interest Accrual Period at the Formula Rate applicable for such Class for such Interest Accrual Period.
Net WAC Rate Carryover Amount. With respect to the Class A, Class M and Class B Certificates and any Distribution Date, the sum of (A) the positive excess, if any, of (i) the amount of interest that would have accrued on such Class of Certificates for such Distribution Date if the Pass-Through Rate for such Class of Certificates for such Distribution Date were calculated at the related Formula Rate over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the related Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon for the most recently ended related Accrual Period at a rate equal to the related Formula Rate for such Class of Certificates for such Distribution Date.
Net WAC Rate Carryover Amount. With respect to any Class A Certificate or Mezzanine Certificate and any Distribution Date on which the Pass-Through Rate is limited to the applicable Net WAC Pass-Through Rate, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class would have been entitled to receive on such Distribution Date if the applicable Net WAC Pass-Through Rate would not have been applicable to such Class on such Distribution Date over (y) the amount of interest paid to such Class on such Distribution Date at the applicable Net WAC Pass-Through Rate plus (ii) the related Net WAC Rate Carryover Amount for the previous Distribution Date not previously distributed to such Class together with interest thereon at a rate equal to the Pass-Through Rate for such Class for the most recently ended Interest Accrual Period without taking into account the applicable Net WAC Pass-Through Rate.
Examples of Net WAC Rate Carryover Amount in a sentence
On each Distribution Date, after making the distributions of the Available Funds as described above, the Trustee will withdraw from the Net WAC Reserve Fund the amount deposited therein pursuant to subclause 38 above and will distribute the Net WAC Rate Carryover Amount, if any, to the classes of LIBOR Certificates in the order of priority specified herein under “—Net WAC Reserve Fund”.
More Definitions of Net WAC Rate Carryover Amount
Net WAC Rate Carryover Amount. With respect to any class of Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the excess of (i) the amount of interest such Certificates would have accrued for such Distribution Date had the applicable Pass-Through Rate been calculated at the Formula Rate (in the case of the Adjustable- Rate Certificates) or the related fixed rate (in the case of the Fixed-Rate Certificates), over (ii) the amount of interest accrued on such Certificates at the related Net WAC Pass-Through Rate for such Distribution Date and (B) the related Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate (in the case of the Adjustable-Rate Certificates) or the related fixed rate (in the case of the Fixed-Rate Certificates) applicable for such class in each case for the Interest Accrual Period for the current Distribution Date.
Net WAC Rate Carryover Amount. With respect to each Class of LIBOR Certificates, as of any Distribution Date, if on such Distribution Date there are unpaid Net WAC Rate Carryover Amounts from prior Distribution Dates or the Pass-Through Rate for any Class of LIBOR Certificates is based upon the Net WAC Rate, the sum of (A) the excess of the Formula Rate for that Class of LIBOR Certificates over (i) with respect to the Group 1 Senior Certificates, the Group 1 Net WAC Rate, (ii) with respect to the Group 2 Senior Certificates, the Group 2 Net WAC Rate, and (iii) with respect to the Subordinate Certificates, the Subordinate Net WAC Rate, and (B) the Net WAC Rate Carryover Amount for such Class of Certificates for all previous Distribution Dates not previously paid, together with interest thereon at the applicable Pass-Through Rate for such Class (without giving effect to any such limitations) of Certificates for such Distribution Date.
Net WAC Rate Carryover Amount. For any Distribution Date and any Class A Certificate, Mezzanine Certificate or Class B Certificate, the excess of (i) the amount of interest accrued on such Certificate based on the related Pass-Through Rate (without regard to the Rate Cap), over (ii) the amount of interest accrued on such Certificate based on the 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 Rate Cap) on such Certificate.
Net WAC Rate Carryover Amount. With respect to any Distribution Date, for the Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, the sum of (a) the amount, if any, by which (i) the amount of Accrued Certificate Interest that would have been distributable on that Class for that Distribution Date had its Pass-Through Rate been equal to the related Fixed Rate or Formula Rate, as applicable, exceeds (ii) the actual amount of the Accrued Certificate Interest for that Class and Distribution Date, because the related Pass-Through Rate was limited to the Net WAC Rate, plus (b) any such amount from a previous Distribution Date that remains unpaid, with interest thereon at the applicable Fixed Rate or Formula Rate, as applicable, since that Distribution Date, to the extent such interest remains unpaid.
Net WAC Rate Carryover Amount. If on any Distribution Date the Pass-Through Rate for the Offered Certificates is limited by the Net WAC Rate, the "Net WAC Rate Carryover Amount" is equal to the sum of (i) the excess of (a) the amount of interest that would have accrued on such Class based on the Formula Rate over (b) the amount of interest received on such Class based on the Net WAC Rate and (ii) the unpaid portion of any related Net WAC Rate Carryover Amount from the prior Distribution Date together with accrued interest at the related Formula Rate. Any Net WAC Rate Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available.
Net WAC Rate Carryover Amount. With respect to the Class A Certificates, the Mezzanine Certificates and the Class S Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates for such Distribution Date calculated at the related Formula Rate, in the case of the Class A Certificates and the Mezzanine Certificates (other than the Class B Certificates), or the applicable fixed rate set forth in the definition of "Pass-Through Rate" in the case of the Class S Certificates and the Class B Certificates, over (ii) the amount of interest accrued on such Class of Certificates at the related Net WAC Rate for such Distribution Date and (B) the related Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the related Formula Rate in the case of the Class A Certificates and the Mezzanine Certificates (other than the Class B Certificates), or the applicable fixed rate set forth in the definition of "Pass-Through Rate" in the case of the Class S Certificates or the Class B Certificates, as the case may be, in each case for such Distribution Date and for such Accrual Period.
Net WAC Rate Carryover Amount. As of any Distribution Date for a Class of Subordinated Certificates, the sum of (i) if on such Distribution Date the applicable Pass-Through Rate for such Class is based upon the related Interest Rate Cap, the Net WAC Rate Shortfall and (ii) the Net WAC Rate Shortfall for all previous Distribution Dates not previously paid (including interest accrued thereon at the applicable Pass-Through Rate for the Accrual Period with respect to each such prior Distribution Date), together with interest thereon at a rate equal to the applicable Pass-Through Rate for such Distribution Date.