CLASS INTEREST SHORTFALL Sample Clauses

CLASS INTEREST SHORTFALL. 12 CLASS M-1 APPLIED REALIZED LOSS AMOUNT.......................................................................12 CLASS M-1 CERTIFICATE........................................................................................12 CLASS M-1 PRINCIPAL DISTRIBUTION AMOUNT......................................................................12 CLASS M-1 REALIZED LOSS AMORTIZATION AMOUNT..................................................................12 CLASS M-2 APPLIED REALIZED LOSS AMOUNT.......................................................................13 CLASS M-2 CERTIFICATE........................................................................................13 CLASS M-2 PRINCIPAL DISTRIBUTION AMOUNT......................................................................13 CLASS M-2 REALIZED LOSS AMORTIZATION AMOUNT..................................................................13 CLASS M-3 APPLIED REALIZED LOSS AMOUNT.......................................................................13 CLASS M-3 CERTIFICATE........................................................................................13 CLASS M-3 PRINCIPAL DISTRIBUTION AMOUNT......................................................................14 CLASS M-3 REALIZED LOSS AMORTIZATION AMOUNT..................................................................14 CLASS M-4 APPLIED REALIZED LOSS AMOUNT.......................................................................14 CLASS M-4 CERTIFICATE........................................................................................14 CLASS M-4 PRINCIPAL DISTRIBUTION AMOUNT......................................................................14 CLASS M-4 REALIZED LOSS AMORTIZATION AMOUNT..................................................................14 CLASS M-5 APPLIED REALIZED LOSS AMOUNT.......................................................................15 CLASS M-5 CERTIFICATE........................................................................................15 CLASS M-5 PRINCIPAL DISTRIBUTION AMOUNT......................................................................15 CLASS M-5 REALIZED LOSS AMORTIZATION AMOUNT..................................................................15 CLASS M-6 APPLIED REALIZED LOSS AMOUNT.......................................................................15 CLASS M-6 CERTIFICATE........................................................................................15 CLASS M-6 PRINCIPAL DISTRIBUTION ...
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CLASS INTEREST SHORTFALL. 13 CLASS M-1 APPLIED REALIZED LOSS AMOUNT....................................13 CLASS M-1 CERTIFICATE.....................................................13 CLASS M-1 PRINCIPAL DISTRIBUTION AMOUNT...................................13 CLASS M-1 REALIZED LOSS AMORTIZATION AMOUNT...............................13 CLASS M-2 APPLIED REALIZED LOSS AMOUNT....................................13 CLASS M-2 CERTIFICATE.....................................................13 CLASS M-2 PRINCIPAL DISTRIBUTION AMOUNT...................................14 CLASS M-2 REALIZED LOSS AMORTIZATION AMOUNT...............................14 CLASS M-3 APPLIED REALIZED LOSS AMOUNT....................................14 CLASS M-3 CERTIFICATE.....................................................14 CLASS M-3 PRINCIPAL DISTRIBUTION AMOUNT...................................14 CLASS M-3 REALIZED LOSS AMORTIZATION AMOUNT...............................14 CLASS M-4 APPLIED REALIZED LOSS AMOUNT....................................15 CLASS M-4 CERTIFICATE.....................................................15 CLASS M-4 PRINCIPAL DISTRIBUTION AMOUNT...................................15 CLASS M-4 REALIZED LOSS AMORTIZATION AMOUNT...............................15
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CLASS INTEREST SHORTFALL. 7 CLASS M-1 APPLIED REALIZED LOSS AMOUNT.......................................7 CLASS M-1 CERTIFICATE........................................................7 CLASS M-1 PRINCIPAL DISTRIBUTION AMOUNT......................................7 CLASS M-1 REALIZED LOSS AMORTIZATION AMOUNT..................................8 CLASS M-2 APPLIED REALIZED LOSS AMOUNT.......................................8 CLASS M-2 CERTIFICATE........................................................8 CLASS M-2 PRINCIPAL DISTRIBUTION AMOUNT......................................8 CLASS M-2 REALIZED LOSS AMORTIZATION AMOUNT..................................8
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CLASS INTEREST SHORTFALL. As to any Distribution Date and any Class of Offered Certificates, the amount by which the amount described in the definition of Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date.
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CLASS INTEREST SHORTFALL. 7 CLASS M-1 APPLIED REALIZED LOSS AMOUNT...................................................7 CLASS M-1 CERTIFICATE....................................................................7 CLASS M-1 PRINCIPAL DISTRIBUTION AMOUNT..................................................7 CLASS M-1 REALIZED LOSS AMORTIZATION AMOUNT..............................................7 CLASS M-2 APPLIED REALIZED LOSS AMOUNT...................................................8 CLASS M-2 CERTIFICATE....................................................................8 CLASS M-2 PRINCIPAL DISTRIBUTION AMOUNT..................................................8 CLASS M-2 REALIZED LOSS AMORTIZATION AMOUNT..............................................8
Sample 1
CLASS INTEREST SHORTFALL. 13 CLASS M-1 APPLIED REALIZED LOSS AMOUNT..... 13 CLASS M-1 CERTIFICATE...................... 13 CLASS M-1 PRINCIPAL DISTRIBUTION AMOUNT.... 13 CLASS M-1 REALIZED LOSS AMORTIZATION AMOUNT 13 CLASS M-2 APPLIED REALIZED LOSS AMOUNT..... 13 CLASS M-2 CERTIFICATE...................... 14 CLASS M-2 PRINCIPAL DISTRIBUTION AMOUNT.... 14 CLASS M-2 REALIZED LOSS AMORTIZATION AMOUNT 14 CLASS M-3 APPLIED REALIZED LOSS AMOUNT..... 14 CLASS M-3 CERTIFICATE...................... 14 CLASS M-3 PRINCIPAL DISTRIBUTION AMOUNT.... 15 CLASS M-3 REALIZED LOSS AMORTIZATION AMOUNT 15 CLASS M-4 APPLIED REALIZED LOSS AMOUNT..... 15 CLASS M-4 CERTIFICATE...................... 15 CLASS M-4 PRINCIPAL DISTRIBUTION AMOUNT.... 15 CLASS M-4 REALIZED LOSS AMORTIZATION AMOUNT 15 CLASS M-5 APPLIED REALIZED LOSS AMOUNT..... 16 CLASS M-5 CERTIFICATE...................... 16 CLASS M-5 PRINCIPAL DISTRIBUTION AMOUNT.... 16 CLASS M-5 REALIZED LOSS AMORTIZATION AMOUNT 16 CLASS M-6 APPLIED REALIZED LOSS AMOUNT..... 16 CLASS M-6 CERTIFICATE...................... 16 CLASS M-6 PRINCIPAL DISTRIBUTION AMOUNT.... 17 CLASS M-6 REALIZED LOSS AMORTIZATION AMOUNT 17 CLASS R CERTIFICATES....................... 17
Sample 1
CLASS INTEREST SHORTFALL. As to any Distribution Date and any Class of Offered Certificates, the amount by which the amount described in the definition of Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date. Class M-1 Applied Realized Loss Amount -------------------------------------- As to the Class M-1 Certificates and as of any Distribution Date, the lesser of (a) the Class Certificate Balance thereof (after taking into account the distribution of all Principal Distribution Amounts on that Distribution Date, but prior to the application of the Class M-1 Applied Realized Loss Amount, if any, on that Distribution Date) and (b) the excess of (i) the Realized Loss Amount as of that Distribution Date over (ii) the sum of the Class M-2 Applied Realized Loss Amount, the Class M-3 Applied Realized Loss Amount, the Class M-4 Applied Realized Loss Amount, the Class B-1 Applied Realized Loss Amount and the Class B-2 Applied Realized Loss Amount, in each case as of that Distribution Date. Class M-1 Certificate --------------------- Any Certificate executed and authenticated by the Trustee substantially in the form attached hereto as Exhibit A-3 and designated as a Class M-1 Certificate. Class M-1 Principal Distribution Amount --------------------------------------- As of any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect, the excess of (a) the sum of (i) the sum of the Class Certificate Balances of the Senior Certificates (after taking into account the payment of the Senior Principal Distribution Amount on that Distribution Date) and (ii) the Class Certificate Balance of the Class M-1 Certificates immediately prior to that Distribution Date over (b) the lesser of (i) the product of (A) 72.50% and (B) the Pool Principal Balance as of the last day of the related Due Period and (ii) the Pool Principal Balance as of the last day of the related Due Period minus the product of (A) 0.50% and (B) the Initial Aggregate Trust Fund Principal Balance. Class M-1 Realized Loss Amortization Amount ------------------------------------------- As to the Class M-1 Certificates and as of any Distribution Date, the lesser of (a) the Unpaid Realized Loss Amount for the Class M-1 Certificates as of that Distribution Date and (b) the excess of (i) the Monthly Excess Cashflow Amount over (ii) the sum of the amounts described in clauses (i) through (v) of Section 4.02(d) for that Distr...
Sample 1
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Related to CLASS INTEREST SHORTFALL

  • Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls In the event of any Prepayment Interest Shortfalls, the Master Servicer shall deposit into the Distribution Account not later than the related Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments in full on the Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the aggregate amount of the compensation payable to the Master Servicer for such Distribution Date in accordance with Section 4.13, without reimbursement therefor.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall resulting from a Principal Prepayment in full, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Advance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited with respect to any Distribution Date shall be limited to one half of the product of (x) one-twelfth of 0.50% and (y) the aggregate Stated Principal Balance of the Mortgage Loans. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Master Servicer, the Securities Administrator, the Trustee, the Trust Fund or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata, based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls relating to the Relief Act and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act.

  • Allocation of Certain Interest Shortfalls For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.

  • Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls The Master Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Master Servicer Remittance Date from its own funds an amount equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

  • Realized Losses Realized Losses shall be allocated first against the Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero. If, after giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Due Period, such excess will be allocated against the Class B-3, Class B-2, Class B-1, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order and until the respective Class Certificate Balances thereof are reduced to zero.

  • 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.

  • Collateral Shortfalls In the event that amounts on deposit in the Collateral Fund at any time are insufficient to cover any withdrawals therefrom that the Company is then entitled to make hereunder, the Purchaser shall be obligated to pay such amounts to the Company immediately upon demand. Such obligation shall constitute a general corporate obligation of the Purchaser. The failure to pay such amounts within two Business Days of such demand (except for amounts to cover interest on a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an immediate termination of the Purchaser's right to make any Election to Delay Foreclosure or Election to Foreclose and the Company's obligations under this Agreement with respect to all Mortgage Loans to which such insufficiencies relate, without the necessity of any further notice or demand on the part of the Company.

  • 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.

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Class P Certificate Account (a) The Trustee shall establish and maintain in the name of the Trustee, for the benefit of the Class P Certificateholders, the Class P Certificate Account as a segregated trust account or accounts.

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