Basis Risk Shortfall Amount definition
Basis Risk Shortfall Amount. The Group I Basis Risk Shortfall Amount or the Group II Basis Risk Shortfall Amount, as applicable.
Basis Risk Shortfall Amount means, with respect to each Class of Notes and any Payment Date following the occurrence of a Repo Trigger Event or the occurrence and continuance of an Indenture Event of Default, an amount equal to the sum of (i) the excess of (a) the amount of interest that would have accrued on such Class based on One-Month LIBOR (subject to the cap on One-Month LIBOR following a REMIC Election) plus the Specified Margin set forth in the definition of Note Rate over (b) the amount of interest actually accrued on such Class based on the Note Rate for such Payment Date and (ii) the unpaid portion of any Basis Risk Shortfall Amount from the prior Payment Date together with accrued interest at the related Note Rate without regard to the Available Funds Rate or Net WAC Rate. Any Basis Risk Shortfall Amount for a Payment Date shall be paid on such Payment Date or future Payment Dates to the extent of funds available.
Basis Risk Shortfall Amount means, with respect to each Class of Notes and any Payment Date following the occurrence of a Repo Trigger Event or the occurrence and continuance of an Indenture Event of Default, an amount equal to the sum of (i) the excess of (a) the amount of interest that would have accrued on such Class based on the Term SOFR Rate plus the Specified Margin set forth in the definition of Note Rate over (b) the amount of interest actually accrued on such Class based on the Note Rate for such Payment Date and (ii) the unpaid portion of any Basis Risk Shortfall Amount from the prior Payment Date together with accrued interest at the related Note Rate without regard to the Available Funds Rate. Any Basis Risk Shortfall Amount for a Payment Date shall be paid on such Payment Date or future Payment Dates to the extent of funds available.
Examples of Basis Risk Shortfall Amount in a sentence
In the event that any Basis Risk Shortfall Amount exists for any Payment Date, additional interest on such Basis Risk Shortfall Amount shall accrue at the applicable Note Rate.
The Basis Risk Shortfall Amount shall be paid to the Noteholders in accordance with the priority of payments set forth in Section 6.1(e).
Pursuant to Section 4.02(h), on the initial Distribution Date, amounts on deposit in the Basis Risk Shortfall Reserve Fund will be withdrawn from the Basis Risk Shortfall Reserve Fund and deposited into the Certificate Account for payment to the Class A Certificates and Class M Certificates to the extent of any Basis Risk Shortfall Amount on the Class A Certificates and Class M Certificates on such initial Distribution Date.
For federal tax return and information reporting, the right of the Holders of the Offered Certificates to receive payments from the Basis Risk Reserve Account in respect of any Basis Risk Shortfall Amount may have more than a de minimis value.
Pursuant to Section 4.02(j), on the initial Distribution Date, amounts on deposit in the Basis Risk Shortfall Reserve Fund will be withdrawn from the Basis Risk Shortfall Reserve Fund and deposited into the Certificate Account for payment to the Class A Certificates and Class M Certificates to the extent of any Basis Risk Shortfall Amount on the Class A Certificates and Class M Certificates on such initial Distribution Date.
More Definitions of Basis Risk Shortfall Amount
Basis Risk Shortfall Amount. As to any Distribution Date and each Class of Offered Certificates, the sum of (a) the excess, if any, of the related Class Monthly Interest Amount, calculated at the Pass-Through Rate (without regard to the related Net WAC Rate) over the related Class Monthly Interest Amount for the applicable Distribution Date, (b) any Basis Risk Shortfall Amount remaining undistributed from the prior Distribution Date and (c) accrued interest on the amount in clause (b) calculated at the Pass-Through Rate (without regard to the related Net WAC Rate) for the most recently ended Interest Period.
Basis Risk Shortfall Amount means, with respect to each Class of Notes and any Payment Date following the occurrence of a Repo Trigger Event or the occurrence and continuance of an Indenture Event of Default, an amount equal to the sum of (i) the excess of (a) the amount of interest that would have accrued on such Class based on One-Month LIBOR (subject to the cap on One- Month LIBOR following a REMIC Election) plus the Specified Margin set forth in the definition of Note Rate over (b) the amount of interest actually accrued on such Class based on the Note Rate for such Payment Date and (ii) the unpaid portion of any Basis Risk Shortfall Amount from the prior Payment Date together with accrued interest at the related Note Rate without regard to the Available Funds Rate or Net WAC Rate. Any Basis Risk Shortfall Amount for a Payment Date shall be paid on such Payment Date or future Payment Dates to the extent of funds available.
Basis Risk Shortfall Amount. With respect to any Class of Notes and any Payment Date, the sum of (i) the excess, if any, of (x) the amount of interest such Class of Notes for such Payment Date would have accrued on such Payment Date at its Note Rate (without regard to the Available Funds Rate) over (y) interest accrued on such Class of Notes at the Available Funds Rate and (ii) the unpaid portion of any Basis Risk Shortfall Amount from the prior Payment Dates together with interest accrued on such unpaid portion for the most recently ended Interest Accrual Period at the related Note Rate (without regard to the Available Funds Rate).
Basis Risk Shortfall Amount. With respect to any Distribution Date and the Class I-A Certificates, in the event that the Pass-Through Rate for such class is based upon the Group I Net WAC Cap, the excess of (1) the amount of interest that such class would have been entitled to receive on such Distribution Date had the Pass-Through Rate for such class not been calculated based on the Group I Net WAC Cap, up to but not exceeding the amount of interest that such class would have been entitled to receive on such Distribution Date at an interest rate equal to the greater of (a) the Group I Maximum Rate Cap or (b) the sum of (i) the Group I Net WAC Cap and (ii) the product of (A) the quotient obtained by dividing (I) an amount equal to the proceeds, if any, payable under the Cap Contract with respect to such Distribution Date by (II) the aggregate Class Certificate Balance of such class for such Distribution Date and (B) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period for such class over (2) the amount of interest such class was entitled to receive on such Distribution Date based on the Group I Net WAC Cap together with (A) the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the Pass-Through Rate for such class, without giving effect to the Group I Net WAC Cap) and (B) any amount previously distributed with respect to Basis Risk Shortfall Amounts for such class that is recovered as a voidable preference by a trustee in bankruptcy.
Basis Risk Shortfall Amount. With respect to any Distribution Date and the Class I-A Certificates, in the event that the Pass-Through Rate for such class is based upon the Group I Net WAC Cap, the excess of (1) the amount of interest that such class would have been entitled to receive on such Distribution Date had the Pass-Through Rate for such class not been calculated based on the Group I Net WAC Cap, up to but not exceeding the amount of interest that such class would have been entitled to receive on such Distribution Date at an interest rate equal to the Group I Maximum Rate Cap over (2) the amount of interest such class was entitled to receive on such Distribution Date based on the Group I Net WAC Cap together with (A) the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the Pass-Through Rate for such class, without giving effect to the Group I Net WAC Cap) and (B) any amount previously distributed with respect to Basis Risk Shortfall Amounts for such class that is recovered as a voidable preference by a trustee in bankruptcy.
Basis Risk Shortfall Amount. As to any Remittance Date, the excess, if any, of:
Basis Risk Shortfall Amount. As to any Distribution Date with respect to which the Pass-Through Rate of the Class A-1 or Class A-1M Certificates is subject to the Group I Net WAC Cap or the Pass-Through Rate of the Class B-1, Class B-2, Class B-3, Class B-4 or Class B-5 Certificates is subject to the Subordinate Net WAC Cap, an amount equal to the excess of