Interest Deficiency definition

Interest Deficiency. With respect to any Distribution Date and Group, the amount by which the Available Funds for such Group (applied in the order described in Section 5.01(a)) is insufficient to pay the Interest Distribution for the related Class of Notes on such Distribution Date.
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Interest Deficiency. With respect to the Pooled FNMA 93-246/F Certificates, on each FNMA Pooled Certificate Distribution Date, the interest, if any, accrued and unpaid on the principal balance of the Pooled FNMA 93-246/F Certificates prior to the immediately preceding Interest Accrual Period that has not been previously paid.
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Interest Deficiency means an amount equal to the amount of interest due by Borrower on a Payment Date as specified on Schedule 2.03 less the amount of interest actually paid by Borrower on such Payment Date.
Sample 1

Examples of Interest Deficiency in a sentence

  • The Administrator undertakes that it will open and maintain in the books of the CBC the following ledgers (the "Ledgers") (i) in respect of amounts received in or withdrawn from the CBC Account: the Revenue Ledger, the Principal Ledger and the Subordinated Loan Interest Deficiency Ledger and (ii) in the event the CBC enters into a Swap Agreement, in respect of the Swap Replacement Amounts received in or withdrawn from the Swap Collateral Account: the Swap Replacement Ledger.

  • In the event of a shortfall, the Issuer shall debit the Class B Interest Deficiency Ledger with an amount equal to the amount by which the aggregate amount of interest paid on the Class B Notes on any Notes Payment Date in accordance with this Condition falls short of the aggregate amount of interest payable on the Class B Notes on that date pursuant to Condition 4.

  • In the event of a shortfall, the Issuer shall debit the Class C Interest Deficiency Ledger with an amount equal to the amount by which the aggregate amount of interest paid on the Class C Notes on any Notes Payment Date in accordance with this Condition falls short of the aggregate amount of interest payable on the Class C Notes on that date pursuant to Condition 4.

  • In the event of a shortfall, the Issuer shall debit the Class D Interest Deficiency Ledger with an amount equal to the amount by which the aggregate amount of interest paid on the Class D Notes on any Notes Payment Date in accordance with this Condition falls short of the aggregate amount of interest payable on the Class D Notes on that date pursuant to Condition 4.

  • Interest Deficiency Ledger and interest roll-over An interest deficiency ledger will be established by the Administrator on behalf of the Issuer in respect of the Class B Notes (the Class B Interest Deficiency Ledger), in order to record any shortfalls in the payment of interest on the Class B Notes.

  • The Corporation shall give each Fiscal Year, in accordance with Section 4.02 of the Support Agreement, not later than at the times specified in the Support A eement (i) a Net Interest Obligation Notice, as such term is defined in the Support A eement, and (ii) an Interest Deficiency Notice, each of which may be amended or modified as permitted by the Support A eement.

  • The balance of the Class B Interest Deficiency Ledger existing on any Quarterly Calculation Date (the Class B Interest Deficiency Balance) shall on the next succeeding Quarterly Payment Date be reduced with the Class B Interest Surplus, if any.

  • To the extent that on any Quarterly Payment Date, the Interest Available Amount is not sufficient to pay the Accrued Interest in respect of all Class B Notes, the amount of such shortfall (the Class B Interest Deficiency) shall be recorded in the Class B Interest Deficiency Ledger.


More Definitions of Interest Deficiency

Interest Deficiency has the meaning specified in Section 4.02(b).
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Interest Deficiency shall have the meaning provided in Section 11.02(a). “Interest Rate Agreement” shall mean any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement or other similar agreement or arrangement.
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Interest Deficiency means, for each Fiscal Year, the amount ------------------- by which (a) the aggregate amount of Series B Note Interest accruing during each Accounting Period of each Fiscal Year exceeds (b) the aggregate amount of Series B Note Interest paid during those Accounting Periods.
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Related to Interest Deficiency

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Tariff, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Gas Supply Deficiency means any occurrence relating to Seller's gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Seller's gas supply.

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Net Proceeds Deficiency shall have the meaning set forth in Section 6.4(b)(vi) hereof.