Net Rate Carryover. With respect to any Class of Interest-Bearing Certificates and any Distribution Date, the sum of (A) the excess of (i) the amount of interest that such Class would otherwise have accrued for such Distribution Date had the Pass-Through Rate for such Class and the related Accrual Period not been determined based on the applicable Net Rate Cap, over (ii) the amount of interest accrued on such Class at the applicable Net Rate Cap for such Distribution Date and (B) the Net Rate Carryover for such Class for all previous Distribution Dates not previously paid pursuant to Section 4.04, together with interest thereon at the then-applicable Pass-Through Rate for such Class, without giving effect to the applicable Net Rate Cap.
Net Rate Carryover. For any Class of LIBOR Certificates and any Distribution Date, the sum of (A) the excess of (i) the amount of interest that such Class would otherwise have accrued for such Distribution Date had the Pass-Through Rate for such Class not been determined based on the applicable Net Rate Cap, over (ii) the amount of interest accrued on such Class at the applicable Net Rate Cap for such Distribution Date and (B) the Net Rate Carryover for such Class for all previous Distribution Dates not previously paid pursuant to Section 4.02, together with interest thereon at the then applicable Pass-Through Rate for such Class, without giving effect to the applicable Net Rate Cap.
Examples of Net Rate Carryover in a sentence
Thereafter, any remaining excess cashflow will be allocated to pay Net Rate Carryover and Unpaid Realized Loss Amounts in the priorities described below.
This includes roof diagrams, photos, budgets, and work order/invoice histories.
Any Net Rate Carryover for the Class 2-A-2 Certificates will not be covered by the Class 2-A-2 Policy.
As described above, on each Distribution Date, the Trustee will deposit in the Carryover Reserve Fund amounts received in respect of the Cap Contracts to the extent needed to pay any Net Rate Carryover.
Following such deposits, on each Distribution Date, amounts in the Carryover Reserve Fund will be distributed to each class of Certificates as described herein to pay any Net Rate Carryover on such Certificates.
More Definitions of Net Rate Carryover
Net Rate Carryover. With respect to any Distribution Date, an amount equal to the sum of (i) the Class A Interest Carryover Amount for such Distribution Date (if any), (ii) the Class A-R Interest Carryover Amount for such Distribution Date (if any), (iii) the Class M-1 Interest Carryover Amount for such Distribution Date (if any), (iv) the Class M-2 Interest Carryover Amount for such Distribution Date (if any), (v) the Class B-1 Interest Carryover Amount for such Distribution Date (if any) and (vi) the Class B-2 Interest Carryover Amount for such Distribution Date (if any); provided that when the term Net Rate Carryover is used with respect to one Class of Certificates (other than the Class A-IO Certificates), it shall mean such carryover amount listed in clauses (i), (ii), (iii), (iv) or (v) as applicable, with the same Class designation. The Class A-IO Certificates shall not accrue any Net Rate Carryover.
Net Rate Carryover. With respect to any Distribution Date, an amount equal to the sum of (i) the Class 1-A Interest Carryover Amount for such Distribution Date (if any), (ii) the Class 2-A Interest Carryover Amount for such Distribution Date (if any), (iii) the Class M-1 Interest Carryover Amount for such Distribution Date (if any), (iv) the Class M-2 Interest Carryover Amount for such Distribution Date (if any), (v) the Class M-3 Interest Carryover Amount for such Distribution Date (if any), (vi) the Class M-4 Interest Carryover Amount for such Distribution Date (if any), (vii) the Class M-5 Interest Carryover Amount for such Distribution Date (if any), (viii) the Class M-6 Interest Carryover Amount for such Distribution Date (if any), (ix) the Class M-7 Interest Carryover Amount for such Distribution Date (if any), (x) the Class M-8 Interest Carryover Amount for such Distribution Date (if any), and (xi) the Class B Interest Carryover Amount for such Distribution Date (if any); provided that when the term Net Rate Carryover is used with respect to one Class of Certificates (other than the Class A-R, Class C and Class P Certificates), it shall mean such carryover amount listed in clauses (i), (ii), (iii) (iv), (v), (vi), (vii), (viii), (ix), (x) or (xi) as applicable, with the same Class designation. The Class A-R, Class C and Class P Certificates shall not accrue any Net Rate Carryover.
Net Rate Carryover. For each Class of Group I Senior Certificates and Group I Mezzanine Certificates on any Distribution Date is equal to the sum of:
Net Rate Carryover. With respect to any Class of interest bearing Notes and any Payment Date, the sum of (A) the excess of (i) the amount of interest that such Class would otherwise have accrued for such Payment Date had the Note Interest Rate for such Class and the related Accrual Period not been determined based on the applicable Net Funds Cap, over (ii) the amount of interest accrued on such Class at the applicable Net Funds Cap for such Payment Date and (B) the Net Rate Carryover for such Class for all previous Payment Dates not previously paid pursuant to Section 6.02, together with interest thereon at the then-applicable Note Interest Rate for such Class, without giving effect to the applicable Net Funds Cap.
Net Rate Carryover. For each class of Offered Certificates (other than the Interest Only Certificates) on any Distribution Date is equal to the sum of:
Net Rate Carryover. For any Class of Certificates (other than the Class C-P Certificates) and any Distribution Date, the sum of (A) the excess, if any, of (i) the amount of interest that such Class would otherwise have accrued for such Distribution Date had the applicable Pass-Through Rate for such Class not been determined based on the related Net Rate Cap (provided that such Pass-Through Rate shall still be subject to the Maximum Rate), over (ii) the amount of interest accrued on such Class at the related Net Rate Cap for such Distribution Date and (B) the Net Rate Carryover for such Class for all previous Distribution Dates not previously paid pursuant to Section 4.02, together with interest thereon at the then applicable Pass-Through Rate for such Class, without giving effect to the related Net Rate Cap but subject to the Maximum Rate.
Net Rate Carryover. For any Class of LIBOR Certificates and any Distribution Date, the excess of (i) the amount of interest that such Class would have accrued for such Distribution Date had the Pass-Through Rate for that Class and the related Accrual Period not been calculated based on the Net Rate Cap, over (ii) the amount of interest such Class accrued for such Distribution Date based on the Net Rate Cap, plus the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate, but not in excess of the Maximum Rate, other than with respect to the Class A-1 Certificates, without giving effect to the Net Rate Cap).