Uncompensated Interest Shortfall. With respect to a Loan Group, for any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group, (ii) aggregate Curtailment Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group over (b) Compensating Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group. Uncompensated Interest Shortfall for Loan Group I shall be allocated to the Group I-L Regular Interests and the portions of the Group C-B-L Regular Interests that derive their Interest Distribution Amounts from the Group I Loans, pro rata according to the amount of interest accrued but unpaid on each such Class or portion thereof, in reduction thereof. Uncompensated Interest Shortfall for Loan Group II shall be allocated to the Group II-L Regular Interests and the portions of the Group C-B-L Regular Interests that derive their Interest Distribution Amounts from the Group II Loans, pro rata according to the amount of interest accrued but unpaid on each such Class or portion thereof, in reduction thereof. Uncompensated Interest Shortfall for Loan Group I shall be allocated to the Class I-X-M, Class C-Y-1 and Class C-Z-1 Regular Interests, pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof. Uncompensated Interest Shortfall for Loan Group II shall be allocated to the Class II-X-M, Class C-Y-2 and Class C-Z-2 Regular Interests, pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof.
Uncompensated Interest Shortfall. With respect to a Loan Group, for any Distribution Date, the excess, if any, of (a) the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group, (ii) aggregate Curtailment Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group and (iii) the aggregate Uncollected Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group over (b) Compensating Interest for such Distribution Date for such Loan Group. Uncompensated Interest Shortfall shall be allocated to the REMIC III Regular Interests as follows:
Uncompensated Interest Shortfall. For any Distribution Date, the excess, if any, of (i) the sum of (a) the related Uncollected Interest for such Distribution Date, and (b) any shortfall in interest collections for the Loans in the calendar month immediately preceding such Distribution Date resulting from a Relief Act Interest Shortfall over (ii) the aggregate Compensating Interest paid by the Servicers and the Master Servicer with respect to the Loans for such Distribution Date, which excess shall be allocated to each Class of Certificates, pro rata, according to the amount of interest accrued thereon in reduction thereof. Underwriter: Deutsche Bank Securities Inc. Underwriters’ Exemption: Prohibited Transaction Exemption 2002-41, 67 Fed. Reg. 54487 (2002), as amended (or any successor thereto), or any substantially similar administrative exemption granted by the U.S. Department of Labor.
Examples of Uncompensated Interest Shortfall in a sentence
For any Distribution Date, a fraction, the numerator of which is the Uncompensated Interest Shortfall for such Distribution Date and the denominator of which is the product of (x) 1/12 of the weighted average of the Pass-Through Rates on the Mortgage Loans as of the second preceding Due Date and (y) the aggregate Class Principal Balance of the Certificates immediately before such Distribution Date.
On or prior to the Closing Date, the Master Servicer shall cause to be established and maintained the Reserve Fund in the Reserve Fund Initial Amount to provide coverage to the Insured Certificates for Uncompensated Interest Shortfall allocable to the Insured Certificates.
More Definitions of Uncompensated Interest Shortfall
Uncompensated Interest Shortfall. For any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date, (ii) aggregate Curtailment Shortfall for such Distribution Date and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date over (b) Compensating Interest for such Distribution Date. Uncompensated Interest Shortfall shall be allocated to the REMIC I Regular Interests pro rata according to the amount of interest accrued on each such Class during the immediately preceding accrual period, in reduction thereof. Uncompensated Interest Shortfall shall be allocated to the REMIC II Regular Interests pro rata according to the amount of interest accrued on each such Class during the related immediately preceding accrual period, in reduction thereof. Underwriters: Greenwich Capital Markets, Inc., WaMu Capital Corp. and Bear, Xxxxxxx & Co. Inc. Underwriting Standards: The underwriting standards of the Company, Washington Mutual Bank, FA or Washington Mutual Bank, a Washington state chartered savings bank, as applicable.
Uncompensated Interest Shortfall. With respect to a Loan Group, for any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group, (ii) aggregate Curtailment Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group over (b) Compensating Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group. Uncompensated Interest Shortfall shall be allocated to each Class of Certificates (other than the Class R Certificates) pro rata according to the amount of interest accrued on each such Class during the immediately preceding accrual period, in reduction thereof. Uncompensated Interest Shortfall shall be allocated to the REMIC I Regular Interests pro rata according to the amount of interest accrued on each such Class during the immediately preceding accrual period, in reduction thereof.
Uncompensated Interest Shortfall. For any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date, (ii) aggregate Curtailment Shortfall for such Distribution Date and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date over (b) Compensating Interest for such Distribution Date. Uncompensated Interest Shortfall shall be allocated to each Class of Certificates (other than the Class R Certificates) pro rata according to the amount of interest accrued but unpaid thereon, in reduction thereof. Uncompensated Interest Shortfall shall be allocated to the REMIC I Regular Interests pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof.
Uncompensated Interest Shortfall. For any Distribution Date, the excess, if any, of (i) the sum of (a) aggregate Uncollected Interest and (b) any shortfall in interest collections in the calendar month immediately preceding such Distribution Date resulting from a Relief Act Interest Shortfall over (ii) Compensating Interest, which excess shall be allocated to each Class of Certificates pro rata according to the amount of interest accrued thereon in reduction thereof.
Uncompensated Interest Shortfall. For any Distribution Date, the excess, if any, of (i) the sum of (a) the related Uncollected Interest for such Distribution Date, and (b) any shortfall in interest collections for the Loans in the calendar month immediately preceding such Distribution Date resulting from a Relief Act Interest Shortfall over (ii) the aggregate Compensating Interest paid by the Servicers and the Master Servicer with respect to the Loans for such Distribution Date, which excess shall be allocated to each Class of Certificates, pro rata, according to the amount of interest accrued thereon in reduction thereof.
Uncompensated Interest Shortfall. For any Distribution Date, the excess, if any, of (i) the sum of (a) aggregate Uncollected Interest, (b) aggregate Curtailment Shortfall and (c) any shortfall in interest collections in the calendar month immediately preceding such Distribution Date resulting from a Relief Act Interest Shortfall over (ii) Compensating Interest, which excess shall be allocated to each Class of Certificates pro rata according to the amount of interest accrued thereon in reduction thereof. Underwriters: Xxxxxx Brothers Inc. and ABN AMRO Incorporated.
Uncompensated Interest Shortfall. For any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date, (ii) aggregate Curtailment Shortfall for such Distribution Date and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date over (b) Compensating Interest for such Distribution Date. Uncompensated Interest Shortfall shall be allocated to the Class A-L and Class X-X Regular Interests, pro rata according to the amount of the Interest Distribution Amount to which each such Class would otherwise be entitled in reduction thereof.