Common use of Allocation of Net Deferred Interest Clause in Contracts

Allocation of Net Deferred Interest. For any Distribution Date, the Net Deferred Interest, if any, will be allocated among the Offered Certificates in an amount equal to the excess, if any, for each such Class of (i) the interest accrued at the applicable Pass-Through Rate for the applicable Accrual Period on the Certificate Principal Balance of such Class immediately prior to such Distribution Date, over (ii) the amount that would have been calculated in clause (i) had the Pass-Through Rate for such Class equaled the Adjusted Rate Cap for such class and such Distribution Date. Any Net Deferred Interest Allocated to a Class of Certificates will be added to the Certificate Principal Balance of the applicable Class of Certificates.