Accrued Certificate. Interest with respect to each Distribution Date and any Class CE Certificate shall be reduced by (a) Prepayment Interest Shortfalls, if any, allocated to such Class of Certificates pursuant to Section 1.02 hereof, (b) Relief Act Interest Shortfalls, if any, allocated to such Class of Certificates pursuant to Section 1.02 hereof and (c) an amount equal to the portion of Realized Losses, if any, allocable to interest on the Class CE Certificate pursuant to Section 4.04 hereof.
Accrued Certificate. Interest is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Accrued Certificate Interest will be payable with respect to any Class of Certificates after the Distribution Date on which the outstanding Certificate Principal Balance of such Certificate has been reduced to zero.
Accrued Certificate. Interest on each Class entitled thereto in the same manner as if such expenses and costs constituted a Prepayment Interest Shortfall.
Examples of Accrued Certificate in a sentence
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 portions of Realized Losses 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).
This Class SB-[ ] Certificate will accrue interest at the Pass-Through Rate on the Notional Amount as indicated in the definition of Accrued Certificate Interest in the Agreement.
Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made by operation of the definition of "Accrued Certificate Interest" for each Class for such Distribution Date.
In addition, the amount of any interest shortfalls will constitute unpaid Accrued Certificate Interest and will be distributable to holders of the Certificates of the related Classes entitled to such amounts on subsequent Distribution Dates, to the extent of the applicable Available Funds after current interest distributions as required herein.
More Definitions of Accrued Certificate
Accrued Certificate. Interest with respect for any Distribution Date shall further be reduced by the interest portion of Realized Losses allocated to any Class of Certificates pursuant to Section 4.05. Accrued Certificate Interest with respect to the Class A Certificates and Class M Certificates shall accrue on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period. Accrued Certificate Interest with respect to the Class X Certificates shall accrue on the basis of a 360-day year divided into twelve 30-day months. With respect to each Distribution Date and the Class SB Certificates, interest accrued during the preceding Interest Accrual Period at the related Pass-Through Rate on the Notional Amount as specified in the definition of Pass-Through Rate, immediately prior to such Distribution Date, reduced by any interest shortfalls with respect to the Mortgage Loans, including Prepayment Interest Shortfalls to the extent not covered by Compensating Interest pursuant to Section 3.16 or by Excess Cash Flow pursuant to Section 4.02(c)(iii) and (iv). Accrued Certificate Interest on the Class SB Certificates shall accrue on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period.
Accrued Certificate. Interest on each Class of Trust Certificates will be calculated on the basis of a 360 day year consisting of twelve 30-day months and will be carried out to at least three decimal places.
Accrued Certificate. For any Distribution Date and each class of Offered INTEREST: Certificates, equals the amount of interest accrued during the related interest accrual period at the related Pass-through Rate, reduced by any prepayment interest shortfalls and shortfalls resulting from the application of the Soldiers' and Sailors' Civil Relief Act of 1940 allocated to such class. PRINCIPAL DISTRIBUTION On any Distribution Date, the sum of (i) the Basic AMOUNT: Principal Distribution Amount and (ii) the Extra Principal Distribution Amount. BASIC PRINCIPAL On any Distribution Date, the excess of (i) the DISTRIBUTION AMOUNT: aggregate Principal Remittance Amount over (ii) the Excess Subordinated Amount, if any. PRINCIPAL REMITTANCE On any Distribution Date, the sum of (i) all scheduled AMOUNT: payments of principal collected or advanced on the Mortgage Loans during the Due Period, (ii) the principal portion of all partial and full prepayments received during the month prior to the month during which such Distribution Date occurs, (iii) the principal portion of all net liquidation proceeds and net insurance proceeds received during the month prior to the month during which such Distribution Date occurs, (iv) the principal portion of repurchased Mortgage Loans, the repurchase obligation for which arose during the month prior to the month during which such Distribution Date occurs and that were repurchased during the period from the prior Distribution Date through the business day prior to such Distribution Date, (v) the principal portion of substitution adjustments received in connection with the substitution of a Mortgage Loan as of such Distribution Date, and (vi) the principal portion of the termination price if the Optional Clean Up Call is exercised. NET MONTHLY EXCESS For any Distribution Date is the amount of funds CASHFLOW: available for distribution on such Distribution Date remaining after making all distributions of interest and principal on the certificates. EXTRA PRINCIPAL For any Distribution Date, the lesser of (i) the excess DISTRIBUTION AMOUNT: of (x) interest collected or advanced with respect to the Mortgage Loans with due dates in the related Due Period (less servicing and trustee fees), over (y) the sum of interest payable on the Certificates on such Distribution Date and (ii) the overcollateralization deficiency amount for such Distribution Date. EXCESS SUBORDINATED For any Distribution Date, means the excess, if any of AMOUNT: (i) the overcollateralization a...
Accrued Certificate. For any Distribution Date and each class of Offered INTEREST: Certificates, equals the amount of interest accrued during the related interest accrual period at the related Pass-through Rate, reduced by any prepayment interest shortfalls and shortfalls resulting from the application of the relief act allocated to such class.
Accrued Certificate. For any Distribution Date and each class of Offered Certificates, equals the amount Interest: of interest accrued during the related interest accrual period at the related Pass-through Rate, reduced by any prepayment interest shortfalls and shortfalls resulting from the application of the Servicemembers Civil Relief Act or similar state law allocated to such class. Principal Distribution On any Distribution Date, the sum of (i) the Basic Principal Distribution Amount Amount: and (ii) the Extra Principal Distribution Amount. Basic Principal On any Distribution Date, the excess of (i) the aggregate principal remittance Distribution Amount: amount over (ii) the Excess Subordinated Amount, if any. Net Monthly Excess For any Distribution Date is the amount of funds available for distribution on such Cashflow: Distribution Date remaining after making all distributions of interest and principal on the certificates. Extra Principal For any Distribution Date, the lesser of (i) the excess of (x) interest collected Distribution Amount: or advanced with respect to the Mortgage Loans with due dates in the related Due Period (less servicing and trustee fees and expenses), over (y) the sum of interest payable on the Certificates on such Distribution Date and (ii) the overcollateralization deficiency amount for such Distribution Date.
Accrued Certificate. For any Distribution Date and each class of Offered INTEREST: Certificates, equals the amount of interest accrued during the related interest accrual period at the related Pass-through Rate, reduced by any prepayment interest shortfalls and shortfalls resulting from the application of the Soldiers' and Sailors' Civil Relief Act of 1940 or similar state law allocated to such class. CLASS A-2 INSURANCE For any Distribution Date, the Class A-2 Insurance PAYMENT AMOUNT: Payment Amount equals Accrued Certificate Interest and principal with respect to the Class A-2 Certificates, to the extent covered by the Class A-2 Insurer. PRINCIPAL DISTRIBUTION For any Distribution Date, the sum of (i) the Basic AMOUNT: Principal Distribution Amount and (ii) the Extra Principal Distribution Amount. BASIC PRINCIPAL On any Distribution Date, the excess of (i) the DISTRIBUTION AMOUNT: aggregate principal remittance amount over (ii) the Excess Subordinated Amount, if any. NET MONTHLY EXCESS For any Distribution Date is the amount of funds CASHFLOW: available for distribution on such Distribution Date remaining after making all distributions of interest and principal on the certificates. EXTRA PRINCIPAL For any Distribution Date, the lesser of (i) the excess DISTRIBUTION AMOUNT: of (x) interest collected or advanced with respect to the Mortgage Loans with due dates in the related Due Period (less servicing and trustee fees and expenses and the Class A-2 Insurance premium), over (y) the sum of interest payable on the Certificates on such Distribution Date and (ii) the overcollateralization deficiency amount for such Distribution Date. EXCESS SUBORDINATED For any Distribution Date, means the excess, if any of AMOUNT: (i) the overcollateralization and (ii) the required overcollateralization for such Distribution Date.
Accrued Certificate. Interest on the Class A-I Certificates and principal balance thereof, as described in Section 2.05 as of the day preceding the Distribution Date. Accrued Certificate Interest on the Class A-I Certificates and Subsidiary REMIC 1 Regular Interest shall accrue on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period consisting of twelve 30-day months.. Accrued Certificate Interest on the Class A-II Certificates and Subsidiary REMIC 2 Regular Interest shall accrue on the basis of twelve 30-day months and a 360-day year.