B-1 Formula Distribution Amount definition
B-1 Formula Distribution Amount means, as to any Payment Date, ----------------------------------------- an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding April 15, 1997) at the Class HE: B-1 Pass-Through Rate on the excess of the Class HE: B-1 Principal Balance over the Class HE: B-1 Liquidation Loss Principal Amount, to be calculated immediately prior to such Payment Date on the basis of a 360-day year of twelve 30-day months, (b) any Unpaid Class HE: B-1 Interest Shortfall, and (c) if such Payment Date is on or prior to the Ninth Cross-over date, the Class HE: B Percentage of the Sub-Pool HE Formula Principal Distribution Amount; provided, however, that on the Eighth Cross-over date, the -------- ------- balance of any amounts that would have been distributable on such date pursuant to clause (c) of the definition of the term "Class HE: M-2 Formula Distribution Amount" (assuming a sufficient Sub-Pool HE Amount Available) but for the operation of the second proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the -------- ------- aggregate of all amounts distributed pursuant to clause (c) of this definition shall not exceed the Original Class HE: B-1 Principal Balance.
B-1 Formula Distribution Amount means, as to any Payment Date, an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding January 15, 1997) at the Class HE: B-1 Pass-Through Rate on the excess of the Class HE: B-1 Principal Balance over the Class HE: B-1 Liquidation Loss Principal Amount, to be calculated immediately prior to such Payment Date on the basis of a 360-day year of twelve 30-day months, (b) any Unpaid Class HE: B-1 Interest Shortfall, and (c) if such Payment Date is on or prior to the Eighth Cross-over date, the Class HE: B Percentage of the Sub-Pool HE Formula Principal Distribution Amount; provided, however, that on the Seventh Cross-over date, the balance of any amounts that would have been distributable on such date pursuant to clause (c) of the definition of the term "Class HE: M-2 Formula Distribution Amount" (assuming a sufficient Sub-Pool HE Amount Available) but for the operation of the second proviso in such
B-1 Formula Distribution Amount means, as to any Payment Date, an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding July 15, 1997) at the Class HE: B-1 Pass-Through Rate on the excess of the Class HE: B-1
More Definitions of B-1 Formula Distribution Amount
B-1 Formula Distribution Amount means, as to any Payment Date, an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding January 15, 1998) at the Class HE: B-1 Pass-Through Rate on the excess of the Class HE: B-1 Principal Balance over the Class HE: B-1 Liquidation Loss Principal Amount, to be calculated immediately prior to such Payment Date, (b) any Unpaid Class HE: B-1 Interest Shortfall, and (c) if such Payment Date is on or prior to the Class HE: B-1 Cross-over Date, the Class HE: B Percentage of the Sub-Pool HE Formula Principal Distribution Amount; provided, however, that on the Class HE: M-2 Cross-over Date, the balance of any amounts that would have been distributable on such date pursuant to clause (c) of the definition of the term "Class HE: M-2 Formula Distribution Amount" (assuming a sufficient Sub-Pool HE Amount Available) but for the operation of the second proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the aggregate of all amounts distributed pursuant to clause (c) of this definition shall not exceed the Original Class HE: B-1 Principal Balance. "Class HE: B-1 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HE: B-1 Formula Distribution Amount" and (b) the Unpaid Class HE: B-1 Interest Shortfall, if any. "Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount" means, as to any Payment Date, the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding January 15, 1998) at the Class HE: B-1 Pass-Through Rate on the Class HE: B-1 Liquidation Loss Principal Amount, to be calculated immediately prior to such Payment Date, and (b) the Unpaid Class HE: B-1 Liquidation Loss Interest Shortfall, if any.