Net WAC Shortfall definition

Net WAC Shortfall. For any Class of LIBOR Certificates and any Distribution Date, the sum of:

Net WAC Shortfall. Not applicable.

Net WAC Shortfall. For any Class of Certificates and any Distribution Date on which the Pass-Through Rate for such Class is the related Net WAC Cap, an amount equal to excess of (x) the amount of interest such Class of Certificates would have accrued for such Distribution Date had such Pass-Through Rate not been limited by the related Net WAC Cap over (y) the amount of interest such Class of Certificates accrued for such Distribution Date at the related Net WAC Cap.

Examples of Net WAC Shortfall in a sentence

• In addition, on the Closing Date, the Depositor shall deposit into the Net WAC Shortfall Reserve Fund an amount equal to the Net WAC Shortfall Reserve Fund Deposit.

• In addition, on the Closing Date, the Company shall deposit into the Net WAC Shortfall Reserve Fund an amount equal to the Net WAC Shortfall Reserve Fund Deposit.

• Any payments to the Holders of the Class A, Class M and Class B Certificates in respect of Net WAC Shortfall Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Code Section 860G(a)(1).

• Any amount paid to the Holders of any Class A, Class M and Class B Certificates pursuant to the preceding sentence in respect of Net WAC Shortfall Amounts from amounts distributable pursuant to clause (v) of Section 4.01(e) shall be treated as distributed to the Holders of the Class C Certificates and paid by such Holders to the Holders of such Class A, Class M and Class B Certificates.

• Funds on deposit in the Net WAC Shortfall Reserve Fund Deposit may be invested in Permitted Investments in accordance with this Section 3.12 subject to any limitations set forth in Section 4.08 (with respect to the Net WAC Shortfall Reserve Fund) and any investment earnings or interest paid shall accrue to the Trustee and the Trustee shall deposit in the related account from its own funds the amount of any loss incurred on Permitted Investments in such account.

More Definitions of Net WAC Shortfall

Net WAC Shortfall. For any Class of Offered Certificates and any Distribution Date on which the Pass-Through Rate for that Class is the related Net WAC Cap, an amount equal to excess of (x) the amount of interest such Class of Certificates would have accrued for such Distribution Date had such Pass-Through Rate not been limited by the related Net WAC Cap over (y) the amount of interest such Class of Certificates accrued for such Distribution Date at the related Net WAC Cap.

Net WAC Shortfall. With respect to any Class of Certificates (other than the LIBOR Certificates and the Class A-IO Certificates) and any Distribution Date on which the Net WAC Rate is used to determine the Pass-Through Rate of such Class of Certificates, an amount equal to the excess of (x) the Monthly Interest Distributable Amount for such Class calculated at the related Pass-Through Rate (without regard to the Net WAC Rate) over (y) the Monthly Interest Distributable Amount for such Class calculated using the Net WAC Rate.

Net WAC Shortfall. For the Class 1A1, Class 2A1, Class 1B1, Class 1B2 and Class 1B3 Certificates and any Distribution Date, for the respective Class the sum of:

Net WAC Shortfall. For each Capped Class for any Distribution Date in or before April 2007, the product of (x) 1/12th of the excess of the Fixed Interest Rate for such Class over the weighted average of the Pass-Through Rates on the Mortgage Loans as of the second preceding Due Date, (y) the Class Principal Balance for such Class immediately before such Distribution Date and (z) the excess of 1 over the Interest Loss and Shortfall Fraction for such Distribution Date.

Net WAC Shortfall. With respect to any Class of LIBOR Certificates and any Distribution Date on which the Pass-Through Rate for that Class of Certificates is limited to the Group 1 Net WAC, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class of Certificates would have been entitled to receive on such Distribution Date if the Group 1 Net WAC had not been applicable to such Class on such Distribution Date, subject to a maximum rate of 11.50% per annum over (y) the amount of interest accrued on such Distribution Date at the Group 1 Net WAC plus (ii) the related Net WAC Shortfall for previous Distribution Dates remaining unpaid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Class of Certificates for the most recently ended Interest Accrual Period (determined without regard to the Group 1 Net WAC, but subject to a maximum per annum Pass-Through Rate of 11.50%).

Net WAC Shortfall. With respect to any Payment Date and any Class of Notes, if, for such Payment Date, the Note Interest Rate is based on the applicable Net WAC Rate, the excess of (i) the amount by which the amount of interest calculated at the Note Interest Rate applicable to such Class for such date, determined without regard to the Net WAC Rate for such date but subject to a cap equal to the Weighted Average Cap Strike Rate over (ii) the sum of interest calculated at the Net WAC Rate for such Payment Date and any amount allocated to such Class under the Yield Maintenance Agreements.

Net WAC Shortfall. With respect to any Distribution Date and any Class of Class A, Class M or Class B Certificates, the excess, if any, of (i) the interest that would have accrued on such Class for the related Accrual Period had its Pass-Through Rate been computed without regard to the Net WAC Rate over (ii) the amount of interest such Class is entitled to receive for the related Accrual Period based on the Net WAC Rate.