Basis Risk Shortfall Carryover Amount. For any Distribution Date and each Class of LIBOR Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class of LIBOR Certificates accrued for such Distribution Date at the related Certificate Rate over (y) the amount such Class of LIBOR Certificates accrued for such Distribution Date at the per annum rate of 6.00%, and (ii) the unpaid portion of any Basis Risk Shortfall Carryover Amount for such Class of LIBOR Certificates from prior Distribution Dates together with interest accrued on such unpaid portion for the most recently ended Accrual Period at the related Certificate Rate.
Basis Risk Shortfall Carryover Amount. If on any Payment Date, the Note Interest Rate of the Senior Notes are subject to their respective Available Funds Rate, such notes become entitled to payment of an amount equal to the excess of the (i) interest accrued at their respective Note Interest Rate (without giving effect to the related Available Funds Rate) over (ii) the amount of interest received on such Notes based on the related Available Funds Rate, together with the unpaid portion of any such excess from previous Payment Dates (and any interest thereon at the then applicable Note Interest Rate without giving effect to the related Available Funds Rate).
Basis Risk Shortfall Carryover Amount. If on any Payment Date, the Note Interest Rate of the Class A-1 Notes and Class A-2 Notes is subject to their respective Available Funds Rate, such notes become entitled to payment of an amount equal to the excess of the (i) interest accrued at their respective Note Interest Rate (without giving effect to the related Available Funds Rate) over (ii) the amount of interest received on such Notes based on the related Available Funds Rate, together with the unpaid portion of any such excess from previous Payment Dates (and any interest thereon at the then applicable Note Interest Rate without giving effect to the related Available Funds Rate).
Examples of Basis Risk Shortfall Carryover Amount in a sentence
For federal tax return and information reporting, the right to receive any Basis Risk Shortfall Carryover Amount shall be assigned the value specified in Section 10.01(k) of this Agreement.
On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall.
On each Distribution Date, the Paying Agent shall distribute amounts received under the Class A-4 Yield Maintenance Agreement on deposit in the Reserve Fund to the Class A-4 Certificates, up to the Basis Risk Shortfall Carryover Amount for the Class A-4 Certificates.
On each Distribution Date, the Paying Agent shall distribute amounts received under the Class A-3 Yield Maintenance Agreement on deposit in the Reserve Fund to the Class A-3 Certificates, up to the Basis Risk Shortfall Carryover Amount for the Class A-3 Certificates.
On each Distribution Date, the Paying Agent shall distribute amounts received under the Class A-1 Yield Maintenance Agreement on deposit in the Reserve Fund to the Class A-1 Certificates, up to the Basis Risk Shortfall Carryover Amount for the Class A-1 Certificates.
More Definitions of Basis Risk Shortfall Carryover Amount
Basis Risk Shortfall Carryover Amount. For any Distribution Date and the Class 1-A4 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class of Certificates accrued for such Distribution Date at the related Certificate Rate over (y) the amount such Class of Certificates accrued for such Distribution Date at the per annum rate of 6.00%, and (ii) the unpaid portion of any Basis Risk Shortfall Carryover Amount for such Class of Certificates from prior Distribution Dates together with interest accrued on such unpaid portion for the most recently ended Accrual Period at the related Certificate Rate.
Basis Risk Shortfall Carryover Amount. For any Distribution Date after the first Distribution Date and on or prior to the Yield Maintenance Agreement Termination Date and the Class 1-A-4 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class 1-A-4 Certificates accrued on such Distribution Date at its Certificate Interest Rate for such Distribution Date over (y) the amount of interest the Class 1-A-4 Certificates would have accrued for such Distribution Date had its per annum Certificate Interest Rate been equal to 6.000% per annum and (ii) the unpaid portion of any Basis Risk Shortfall Carryover Amount for the Class 1-A-4 Certificates from prior Distribution Dates together with interest accrued on such unpaid portion for the most recently ended Accrual Period at the Certificate Interest Rate for the Class 1-A-4 Certificates and Distribution Date.
Basis Risk Shortfall Carryover Amount. If on any Payment Date, the Note Interest Rate of the Class A-1, Class A-2, Class A-3 and Class A-4 Notes is subject to their respective Available Funds Rate, such notes become entitled to payment of an amount equal to the excess of the (i) interest accrued at their respective Note Interest Rate (without giving effect to the related Available Funds Rate) over (ii) the amount of interest received on such Notes based on the related Available Funds Rate, together with the unpaid portion of any such excess from previous Payment Dates (and any interest thereon at the then applicable Note Interest Rate without giving effect to the related Available Funds Rate).
Basis Risk Shortfall Carryover Amount. With respect to any Distribution Date and the Class I-A-1 Certificates and Class I-A-2 Certificates, the excess, if any, of the (i) the amount of Accrued Certificate Interest that such Class would have been entitled to receive on such Distribution Date had the applicable Pass-Though Rate been calculated at a per annum rate equal to One-Month LIBOR plus the applicable Margin over (ii) the amount of interest received on such Certificates if the applicable Pass-Through Rate is based on the Net WAC Cap Rate, together with the unpaid portion of any excess from any previous Distribution Date (and any interest thereon at the then applicable Pass-Through Rate without giving effect to the Net WAC Cap Rate). Book-Entry Certificates: Initially, all Classes of Certificates other than the Private Certificates and the Residual Certificates.
Basis Risk Shortfall Carryover Amount. With respect to any Distribution Date and any Class of Offered Certificates, the excess of (i) the amount of interest such Class would have accrued on such Distribution Date had the applicable Pass-Through Rate not been subject to the related Net Rate Cap, over (ii) the amount of interest such class of Certificates received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap, together with the unpaid portion of any such amount from prior Distribution Dates (and accrued interest thereon at the then applicable Pass-Through Rate, without giving effect to the related Net Rate Cap). For federal income tax purposes, each reference to a Net Rate Cap in applicable Pass-Through Rate shall be deemed to be a reference to the Group I REMIC Cap or Group II REMIC Cap, as applicable.
Basis Risk Shortfall Carryover Amount. For any Distribution Date and the Class 1-A10 and Class 2-A8 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class of Certificates accrued for such Distribution Date at the related Certificate Rate over (y) the amount such Class of Certificates accrued for such Distribution Date at the per annum rate of 6.25%, in the case of the Class 1-A10 Certificates, or at the per annum rate of 6.00%, in the case of the Class 2-A8 Certificates, and (ii) the unpaid portion of any Basis Risk Shortfall Carryover Amount for such Class of Certificates from prior Distribution Dates together with interest accrued on such unpaid portion for the most recently ended Accrual Period at the related Certificate Rate.
Basis Risk Shortfall Carryover Amount. With respect to the Class 2-A-5 Certificates and any Distribution Date on or prior to the Yield Maintenance Agreement Termination Date on which its Pass-Through Rate is limited to its maximum Pass-Through Rate of 6.000% per annum, an amount equal to the sum of (i) the excess of (x) the amount of interest the Class 2-A-5 Certificates would have been entitled to receive on such Distribution Date if the 6.000% maximum Pass-Through Rate had not been applicable to such class on such Distribution Date over (y) the amount of interest accrued on the Class 2-A-5 Certificates on such Distribution Date at its Pass-Through Rate plus (ii) the Basis Risk Shortfall Carryover Amount for the previous Distribution Date not previously distributed, together with interest thereon at a rate equal to the Pass-Through Rate for the Class 2-A-5 Certificates for the most recently ended Interest Accrual Period determined without taking into account its maximum Pass-Through Rate of 6.000% per annum.