Net WAC Rate Carryover Amount definition

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

  • By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Net WAC Rate Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders.

  • For federal income tax purposes, each holder of a Class A or Mezzanine Certificate is deemed to own an undivided beneficial ownership interest in a REMIC regular interest and the right to receive payments from either the Net WAC Rate Carryover Reserve Account or the Swap Account in respect of the Net WAC Rate Carryover Amount or the obligation to make payments to the Swap Account.

  • For federal tax return and information reporting, the right to receive any Net WAC Rate Carryover Amount shall be assigned the value specified in Section 10.01(l) of this Agreement.

  • By accepting a Class CE Certificate, each Class CE Certificateholder hereby agrees to direct the Trust Administrator, and the Trust Administrator hereby is directed, to deposit into the Net WAC Rate Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class CE Certificateholders.

  • For federal income tax purposes, each holder of a Floating Rate Certificate is deemed to own an undivided beneficial ownership interest in a REMIC regular interest and the right to receive payments from either the Net WAC Rate Carryover Reserve Account or the Swap Account in respect of the Net WAC Rate Carryover Amount or the obligation to make payments to the Swap Account.


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 A, Class M-1, Class M-2, Class M-3 and Class B 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 Formula Rate, 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 Adjusted WAC Rate, plus (b) any such amount from a previous Distribution Date that remains unpaid, with interest thereon at the applicable Formula Rate since that Distribution Date, to the extent such interest remains unpaid.
Net WAC Rate Carryover Amount. For any Distribution Date, if on such Distribution Date or any prior Distribution Date, the Accrued Certificate Interest for any Class A or Mezzanine Certificates is based upon the Net WAC Cap for such Distribution Date, the sum of (i) the excess of (a) the amount of interest that would have accrued on such Class in respect of such Distribution Date based on the related Formula Rate, over (b) the amount of interest actually accrued on such Class in respect of such Distribution Date based on the related Net WAC Rate, plus (ii) the unpaid portion of any Net WAC Rate Carryover Amount from prior Distribution Dates (and interest accrued thereon at the then applicable Formula Rate on such Certificate).
Net WAC Rate Carryover Amount. As of any Distribution Date for a Class of Fixed Rate 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 such Class 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.
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 the excess of (i) the amount of interest such Certificates would have accrued on such Distribution Date had such Pass-Through Rate been calculated at the Formula Rate (in the case of the Class AV Certificates and the Mezzanine Certificates), or the applicable fixed rate (in the case of the Class AF Certificates and the Class S Certificates), over (ii) the amount of interest such Class of Certificates accrued 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 Class AV Certificates and the Mezzanine Certificates) or the applicable fixed rate (in the case of the Class AF Certificates and the Class S Certificates), as the case may be, in each case for the Interest Accrual Period for the current Distribution Date.