Note Interest Carryover Shortfall means, with respect to any Payment Date and a Class of Notes, the excess, if any, of (x) the sum of (i) the Note Monthly Interest Distributable Amount for such Class for the preceding Payment Date and (ii) any outstanding Note Interest Carryover Shortfall for such Class on such preceding Payment Date, over (y) the amount of interest that is actually paid on the Notes on such preceding Payment Date, plus, to the extent permitted by law, interest on the Note Interest Carryover Shortfall at the related Interest Rate for the related Interest Accrual Period.
Note Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the sum of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date plus any outstanding Note Interest Carryover Shortfall for such Class on such preceding Distribution Date, over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, plus, interest on such excess to the extent permitted by applicable law, at the related Interest Rate for the related Interest Period.
Note Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, plus, to the extent permitted by applicable law, interest on the amount of interest due but not paid to Noteholders of such Class on the preceding Distribution Date at the related Interest Rate for the related Interest Accrual Period; provided, however, that the Note Interest Carryover Shortfall for the first Distribution Date shall be zero.
Examples of Note Interest Carryover Shortfall in a sentence
Carryover Shortfall 0.00 Per $1,000 of Original Balance 0.00 Total Note Interest Total Note Interest Due 4,576,572.61 Per $1,000 of Original Balance 4.55 Total Note Interest Paid 4,576,572.61 Per $1,000 of Original Balance 4.55 Total Note Interest Shortfall 0.00 Per $1,000 of Original Balance 0.00 Total Note Interest Carryover Shortfall 0.00 Per $1,000 of Original Balance 0.00 Change in Total Note Int.
Total Interest Due on Monthly Note Interest Carryover Shortfall $ 0.00 ------------------- t.
More Definitions of Note Interest Carryover Shortfall
Note Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the sum of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date plus any outstanding Note Interest Carryover Shortfall for such Class on such preceding Distribution Date, over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, plus, to the extent permitted by applicable law, interest on the amount of interest due but not paid to Noteholders of such Class on the preceding Distribution Date at the related Interest Rate for the related Interest Period.
Note Interest Carryover Shortfall means, (a) with respect to the Initial Distribution Date and each Class of Notes, zero and (b) with respect to any other Distribution Date and a Class of Notes, the excess, if any, of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date, over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, plus, interest on such excess to the extent permitted by applicable law, at the related Interest Rate for the related Interest Period.
Note Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the sum of (i) the excess, if any, of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, and, (ii) to the extent permitted by applicable law, interest on the amount of interest due but not paid to Noteholders of such Class on the preceding Distribution Date at the related Note Rate for the related Interest Accrual Period; provided that the Note Interest Carryover Shortfall for the first Distribution Date shall be zero.
Note Interest Carryover Shortfall shall have the meaning assigned thereto in the Indenture.
Note Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the sum of the Note Interest Distributable Amount for such Class for the immediately preceding Distribution Date plus any outstanding Note Interest Carryover Shortfall for such Class on such preceding Distribution Date, over the amount in respect of interest that is actually deposited in the Note Distribution Account with respect to such Class on such preceding Distribution Date, plus, to the extent permitted by applicable law, interest on the amount of interest due but not paid to Noteholders of such Class on the preceding Distribution Date at the related Interest Rate for the related Interest Accrual Period.
Note Interest Carryover Shortfall means, with respect to any Distribution Date and any Class of Notes, the sum of (i) all accrued but unpaid Note Monthly Interest Distributable Amount for previous Distribution Dates for such Class plus (ii) to the extent permitted by law, interest on such accrued but unpaid Note Monthly Interest Distributable Amount at the Interest Rate applicable to such Class.
Note Interest Carryover Shortfall means as of the close of any Payment Date, the excess of the Note Interest Payment Amount for such Payment Date over the amount in respect of interest that is actually paid to the Note Holders on such Payment Date.