Allocation of Deferred Interest Sample Clauses

Allocation of Deferred Interest. [Reserved]
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Allocation of Deferred Interest. (a) On or prior to the latest Determination Date in each month, the Securities Administrator shall determine the amount of any Deferred Interest in respect of the Mortgage Loan that occurred during the immediately preceding calendar month. (b) With respect to any Distribution Date, any Deferred Interest with respect to a Mortgage Loan will be allocated to increase the Certificate Principal Balance of each of the Class A-1, Class A-2, Class M-1, Class M-2 and Class B Certificatex xx xxx xxxxxwing manner: (i) to the Class A-1 Certificates and the Class A-2 Certificates (PRO RATA, based on the Certificate Principal Balance of each such Class) in an amount equal to the amount of Deferred Interest times (x) the aggregate Certificate Principal Balance of the Class A Certificates over (y)the aggregate Stated Principal Balance of the Mortgage Loans; and (ii) all remaining amounts of Deferred Interest not allocated to the Class A Certificates, pursuant to clause (i) above, to the then outstanding Classes of Subordinate Certificates, PRO RATA, based upon the Current Principal Amount of each such Class. (c) On each Distribution Date on which the Current Principal Amount of a Class of Certificates is increased by Deferred Interest in accordance with Section 5.04B(b) above, the interest otherwise paid to such Class shall be decreased by an equivalent amount.
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Allocation of Deferred Interest. (a) For any Distribution Date, the Deferred Interest on the Mortgage Loans in a Loan Group will be allocated among the related Classes of Certificates (or, with respect to the Class A-X-2 Certificates, the Class A-X-2 IO Component) pursuant to clause (c) below. (b) On each Distribution Date, any amount of Deferred Interest allocable to a Class of Certificates (other than the Class A-X-2 Certificates) on such Distribution Date will be added as principal to the outstanding Class Certificate Principal Balance of such Class of Certificates. With respect to the Class A-X-2 Certificates and each Distribution Date, any amount of Deferred Interest in a Loan Group added to the principal balances of the related Mortgage Loans that is allocated to the Class A-X-2 IO Component on such Distribution Date will be added as principal to the outstanding Component Principal Balances of the Class A-X-2 PO-1 and Class A-X-2 PO-2 Components, as applicable. (c) For any Distribution Date and Class of Certificates, the Deferred Interest on the Mortgage Loans will be allocated in the following priority, in each case to the extent of the Class Optimal Interest Distribution Amount (prior to any reduction for Deferred Interest) for such Class for that Distribution Date: first, to the Class A-X-2 Certificates; second, to the Classes of Subordinated Certificates, in the reverse order of their numerical class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical class designation); and third, concurrently, to the Class 1-A-1 and Class 2-A-1 Certificates, pro rata, based upon the Deferred Interest attributable to the Group 1 and Group 2 Mortgage Loans, respectively.
Sample 1
Allocation of Deferred Interest. (a) On or prior to the latest Determination Date in each month, the Securities Administrator shall determine the amount of any Deferred Interest in respect of each Mortgage Loan that occurred during the immediately preceding calendar month. (b) With respect to any Distribution Date, any Deferred Interest with respect to a Mortgage Loan will be allocated to increase the Certificate Principal Balance of each of the Class A-1, Class A-2, Class M-1, Class M-2 and Class B Certificates in xxx xxxxxxxxx manner: (i) to the Class A-1 Certificates and the Class A-2 Certificates (PRO RATA, based on the Certificate Principal Balance of each such Class) in an amount equal to the amount of Deferred Interest times (x) the aggregate Certificate Principal Balance of the Class A Certificates over (y)the aggregate Stated Principal Balance of the Mortgage Loans; and (ii) all remaining amounts of Deferred Interest not allocated to the Class A Certificates, pursuant to clause (i) above, to the then outstanding Classes of Subordinate Certificates, PRO RATA, based upon the Current Principal Amount of each such Class. (d) On each Distribution Date on which the Current Principal Amount of a Class of Certificates is increased by Deferred Interest in accordance with Section 5.04B(b) above, the interest otherwise paid to such Class shall be decreased by an equivalent amount.
Sample 1
Allocation of Deferred Interest. VI-2 Section 6.03. ALLOCATION OF LOSSES................................................................VI-3 Section 6.04. PAYMENTS............................................................................VI-4 Section 6.05. STATEMENTS TO CERTIFICATEHOLDERS....................................................VI-5 Section 6.06. MONTHLY ADVANCES....................................................................VI-7 Section 6.07. PREPAYMENT CHARGES..................................................................VI-7 ARTICLE VII Indemnification
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Allocation of Deferred Interest. (a) On or prior to each Determination Date, the Trustee shall determine the amount of any Deferred Interest in respect of each Mortgage Loan that occurred during the immediately preceding calendar month. (b) With respect to any Distribution Date, the aggregate amount of Deferred Interest, if any, that is added to the principal balance of the related negatively amortizing Mortgage Loans on the Due Date occurring in the month in which such Distribution Date occurs will be added to the Current Principal Amounts of the Certificates (other than the Class XP Certificates)as an interest shortfall, on a pro rata basis based on a fraction, the numerator of which is the Current Principal Amount of each such Class and the denominator of which is the aggregate Current Principal Amount of such Classes of Certificates, in each case immediately prior to such Distribution Date. Deferred Interest allocated to any Certificate on any Distribution Date will be added to the Current Principal Amount thereof on such Distribution Date and will thereafter bear interest at the then applicable Pass-Through Rate. (c) On each Distribution Date on which the Current Principal Amount of a Class of Certificates is increased by Deferred Interest in accordance with Section 6.02(b) above, the interest payable on such Class shall be decreased by an equivalent amount.
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Allocation of Deferred Interest. (a) On or prior to each Determination Date, the Trustee shall determine the amount of any Deferred Interest in respect of each Group 1 Mortgage Loan that occurred during the immediately preceding calendar month. (b) With respect to any Distribution Date, to the extent that the Accrued Certificate Interest on the most subordinate Class of Group 1 Certificates outstanding on such Distribution Date exceeds the Group 1 Available Funds available to pay such Accrued Certificate Interest pursuant to Section 6.01(a), the lesser of such excess and the aggregate amount of Deferred Interest, if any, that is added to the principal balance of the related negatively amortizing Group 1 Mortgage Loans on the Due Date occurring in the month in which such Distribution Date occurs will be added to the Current Principal Amounts of the most subordinate class of Group 1 Certificates outstanding in accordance with the amount of Accrued Certificate Interest that would have accrued on such Certificate absent such reduction and subtracted from the amount of Accrued Certificate Interest otherwise payable to such Group 1 Certificates for such Distribution Date. (c) On each Distribution Date on which the Current Principal Amount of a Class of Certificates is increased by Deferred Interest in accordance with Section 6.02(b) above, the interest payable on such Class shall be decreased by an equivalent amount.
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Related to Allocation of Deferred Interest

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Distributions and Interest Amount (i) Interest Rate. "Interest Rate" for any day means, the Federal Funds Overnight Rate. For the purposes hereof, "Federal Funds Overnight Rate" means, for any day, an interest rate per annum equal to the rate published as the Federal Funds Effective Rate that appears on Telerate Page 118 for such day.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Allocation of Realized Losses Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, if any such Realized Losses are on a Discount Mortgage Loan, to the Class A-P Certificates in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non-Discount Mortgage Loans will be allocated among all the Senior Certificates (other than the Class A-V Certificates and Class A-P Certificates) in the case of the principal portion of such loss on a pro rata basis and among all of the Senior Certificates (other than the Class A-P Certificates) in the case of the interest portion of such loss on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on Non-Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Discount Mortgage Loans will be allocated to the Class A-P Certificates in an amount equal to the Discount Fraction thereof and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non- Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a "pro rata basis" among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Subordinate Certificates then outstanding with the Lowest Priority shall be made by operation of the definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount of Accrued Certificate Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 5.01(c), such Realized Losses and other losses allocated to the Class A-V Certificates shall be allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Interest payable on such Distribution Date that would have resulted absent such reductions.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Interest Amount Unless otherwise specified in Paragraph 11(f)(iii), the Transferee will transfer to the Transferor at the times specified in Paragraph 11(f)(ii) the relevant Interest Amount to the extent that a Delivery Amount would not be created or increased by the transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed a Valuation Date for this purpose).

  • Capitalized Interest Account (a) Unless all Subsequent Mortgage Loans are purchased by the Trust on the Closing Date, or unless a Capitalized Interest Account is not specified in Article I, the Trustee shall establish and maintain the Capitalized Interest Account. On the Closing Date, the Trustee will deposit the Capitalized Interest Account Deposit in the Capitalized Interest Account or, if all Subsequent Mortgage Loans are purchased on the Closing Date, in the Certificate Account. The Trustee shall hold the Capitalized Interest Account Deposit for the benefit of the Offered Certificateholders. (b) The Capitalized Interest Account will be part of the Trust but not part of any REMIC Pool. Amounts held in the Capitalized Interest Account prior to the first Deposit Date shall be invested in Permitted Investments of the type specified in clause (f) of the definition of Permitted Investments, which Permitted Investments shall mature no later than the Deposit Date immediately following the end of the Funding Period. The Trustee shall not be liable for any losses on amounts invested in accordance with the provisions hereof. All interest and other investment earnings on amounts held in the Capitalized Interest Account (and any other amounts remaining on deposit therein in excess of the amounts to be so withdrawn and deposited into the Certificate Account) shall be paid or released by the Trustee to the Seller on the Distribution Date immediately following the end of the Funding Period and taxed to the Seller. For federal and state income tax purposes the Seller shall be deemed to be the owner of the Capitalized Interest Account. Any losses realized in connection with any such investment shall be for the account of the Seller and the Seller shall deposit the amount of such loss (to the extent not offset by income from other investments) in the Capitalized Interest Account immediately upon the realization of such loss. All amounts earned on deposit in the Capitalized Interest Account shall be taxed to the Seller. (c) On each Prefunding Distribution Date, the Trustee shall transfer from the Capitalized Interest Account to the Certificate Account the Capitalized Interest Requirement, if any, for such Distribution Date; provided, however, that on the final Subsequent Transfer Date the Trustee shall (i) transfer the Capitalized Interest Requirement, if any, for the following Distribution Date from the Capitalized Interest Account to the Certificate Account, (ii) remit the balance of the funds on deposit in the Capitalized Interest Account to the Seller and (iii) close the Capitalized Interest Account.

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