Relief Act Interest Shortfall definition

Relief Act Interest Shortfall. With respect to any Distribution Date, for any Mortgage Loan with respect to which there has been a reduction in the amount of interest collectible thereon for the most recently ended Collection Period as a result of the application of the Relief Act or similar state laws, the amount by which (i) interest collectible on such Mortgage Loan during such Collection Period is less than (ii) one month's interest on the Principal Balance of such Mortgage Loan at the Mortgage Interest Rate for such Mortgage Loan before giving effect to the application of the Relief Act or similar state laws.

More Definitions of Relief Act Interest Shortfall

Relief Act Interest Shortfall. With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Relief Act or similar state laws, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.
Relief Act Interest Shortfall. With respect to any Distribution Date, for any Mortgage Loan with respect to which there has been a reduction in the amount of interest collectible thereon for the most recently ended Due Period as a result of the application of the Relief Act, the amount of such reduction for such Due Period.
Relief Act Interest Shortfall. With respect to any Payment Date and a Mortgage Loan, an amount equal to the excess, if any, of (a) one month’s interest on the outstanding Principal Balance of a Mortgage Loan at the related Mortgage Interest Rate over (b) the amount of interest due on such Mortgage Loan because of the application of the Servicemembers Civil Relief Act or any similar state law.
Relief Act Interest Shortfall. With respect to any Distribution Date and a Group I or Group II Loan, as applicable, the reduction in the amount of interest collectible on such Loan for the most recently ended calendar month immediately preceding such Distribution Date as a result of the application of the Relief Act.
Relief Act Interest Shortfall. With respect to any Payment Date, for any Residential Lot Loan with respect to which there has been a reduction in the amount of interest collectible thereon for the most recently ended Due Period or (without duplication) any earlier Due Period as a result of the application of the Relief Act, the amount by which (i) interest collectible on such Residential Lot Loan during each such Due Period is less than (ii) one month’s interest on the Stated Principal Balance of such Residential Lot Loan at the Loan Rate for such Residential Lot Loan before giving effect to the application of the Relief Act.