Basis Risk Payment Sample Clauses
A Basis Risk Payment clause defines the mechanism for compensating a party when there is a discrepancy between the actual value of a reference asset or index and the value used for settlement in a contract. Typically, this clause applies in financial agreements such as derivatives or insurance-linked securities, where the payout is based on an index or model rather than actual losses or values. By specifying how and when such payments are calculated and made, the clause addresses the risk that the contract's reference measure does not perfectly match the party's real-world exposure, thereby allocating and managing basis risk between the parties.
Basis Risk Payment. With respect to any Distribution Date, an amount equal to the sum of (i) any Basis Risk Shortfall for such Distribution Date applicable to the Group 3 Certificates, (ii) any Unpaid Basis Risk Shortfall from previous Distribution Dates applicable to the Group 3 Senior Certificates and (iii) any Required Reserve Fund Amount applicable to the Pool 3 Basis Risk Reserve Fund for such Distribution Date. The amount of Pool 3 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 3 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(h) of the Agreement.
Basis Risk Payment. For any Distribution Date and the Group II Certificates, the excess, if any of (A) the sum of (1) any Basis Risk Shortfall for the Group II Certificates for such Distribution Date not otherwise funded out of amounts received on the Group II Interest Rate Cap Agreement and (2) any Unpaid Basis Risk Shortfall for the Group II Certificates for such Distribution Date not otherwise funded out of amounts received on the Group II Interest Rate Cap Agreement over (B) the amount of payments of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls made to the Group II Certificates pursuant to Section 5.02(i)(v); provided, however, that the amount of the Pool 2-3 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2-3 Monthly Excess Cashflow otherwise distributable in respect of the Class X-II Certificates pursuant to Section 5.02(i)(ix) hereof on such Distribution Date (as determined under the definition of “X-II Component Distributable Amount” without regard to the Pool 2-3 Basis Risk Payment for such Distribution Date).
Basis Risk Payment. With respect to any Distribution Date, an amount equal to the sum of (i) any Basis Risk Shortfall for such Distribution Date applicable to the Group 2 Certificates, (ii) any Unpaid Basis Risk Shortfall from previous Distribution Dates applicable to the Group 2 Certificates and (iii) any Required Reserve Fund Amount applicable to the Pool 2 Basis Risk Reserve Fund for such Distribution Date, less any amounts received under the Class 2-A1A Cap Agreement and paid to the Class 2-A1A Certificates pursuant to Section 5.02(g)(iii). The amount of Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(g)(iii) of the Agreement.
Basis Risk Payment. For any Distribution Date, the aggregate of the Basis Risk Carry Forward Amounts, for that date. With respect to any Distribution Date, the Basis Risk Payment cannot exceed the sum of (i) the amount otherwise distributable on the Class OC Certificates (other than amounts received by the holder of the Class OC Certificates in respect of Interest Rate Cap Payments and Net Swap Receipts), (ii) Interest Rate Cap Payments and (iii) amounts payable from Net Swap Receipts.
Basis Risk Payment. With respect to any Distribution Date, an amount equal to the sum of (i) any Basis Risk Shortfall for such Distribution Date applicable to the Group 2 Certificates, (ii) any Unpaid Basis Risk Shortfall from previous Distribution Dates applicable to the Group 2 Certificates and (iii) any Required Reserve Fund Amount applicable to the Pool 2 Basis Risk Reserve Fund for such Distribution Date, less any amounts received under the Class 2-A1A Cap Agreement and paid to the Class 2-A1A Certificates pursuant to Section 5.02(g)(iii). The amount of Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(g)(iii) of the Agreement.