Maximum Uncertificated Accrued Interest Deferral Amount Sample Clauses

Maximum Uncertificated Accrued Interest Deferral Amount. 16 MERS....................................................................................................17 MERS(R)System............................................................................................17
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Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX and IO), with the rate on each such REMIC II Regular Interest subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
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Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC I Pass-Through Rate applicable to REMIC I Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC I Regular Interest ZZ minus the REMIC I Overcollateralized Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC I Regular Interests (other than REMIC I Regular Interests AA and ZZ), with the rate on each such REMIC I Regular Interest subject to a cap equal to the lesser of (x) the One-Month LIBOR Pass Through Rate or the fixed Pass-Through Rate, as applicable, for the Corresponding Certificate and (y) the Net Rate Cap for the Corresponding Certificate for the purpose of this calculation for such Distribution Date. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
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Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC I Pass-Through Rate applicable to REMIC I Regular Interest LT-ZZ for such Distribution Date on a balance equal to the excess of (i) the Uncertificated Principal Balance of REMIC I Regular Interest LT-ZZ over (ii) the REMIC I Overcollateralized Amount for such Distribution Date over (b) the sum of (1) Uncertificated Accrued Interest on REMIC I Regular Xxxxxxxx XX-X0 (calculated for the purpose of this definition with the rate on REMIC I Regular Xxxxxxxx XX-X0 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 0.350% per annum and (y) the Net Rate Cap and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 0.700% per annum and (y) the Net Rate Cap), (2) Uncertificated Accrued Interest on REMIC I Regular Interest LT-M1 (calculated for the purpose of this definition with the rate on REMIC I Regular Interest LT-M1 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 0.800% per annum and (y) the Net Rate Cap and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 1.200% per annum and (y) the Net Rate Cap), (3) Uncertificated Accrued Interest on REMIC I Regular Interest LT-M2 (calculated for the purpose of this definition with the rate on REMIC I Regular Interest LT-M2 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 1.750% per annum and (y) the Net Rate Cap and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 2.625% per annum and (y) the Net Rate Cap) and (4) Uncertificated Accrued Interest on REMIC I Regular Interest LT-M3 (calculated for the purpose of this definition with the rate on REMIC I Regular Interest LT-M3 subject to a cap equal to (A) in the case of any Distribution Date up to and including the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 2.500% per annum and (y) the Net Rate Cap and (B) in the case of any Distribution Date after the Optional Termination Date, the lesser of (x) One-Month LIBOR plus 3.750% per annum and (y) ...
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