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. For any Distribution Date after the first Distribution Date and on or prior to the applicable Yield Maintenance Agreement Termination Date for the Class 2-A-1 and Class 2-A-3 Certificates, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class accrued on such Distribution Date at its Certificate Interest Rate for such Distribution Date (reduced by aggregate reductions to the Interest Distribution Amount for such Class set forth in the definition thereof) over (y) the amount of interest such class of Certificates accrued for such Distribution Date at 6.000% per annum 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 Certificate Interest Rate for such Class and Distribution Date.
Basis Risk Shortfall Carryover Amount. For any Distribution Date and the Class 2-A10 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.
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.
For federal tax return and information reporting, the right to receive any Basis Risk Shortfall Carryover Amount or Net WAC Shortfall Carryover Amount shall be assigned the value specified in Section 10.01(k) of this Agreement.
More Definitions of Basis Risk Shortfall Carryover Amount
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).
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. 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. 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. For any Distribution Date and the Class 1-A1 and Class 1-A8 Certificates, an amount equal to the sum of (i) the excess, if any, 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%, in the case of the Class 1-A1 Certificates, and 5.75%, in the case of the Class 1-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 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 after the first Distribution Date and on or prior to the applicable Yield Maintenance Agreement Termination Date for the Class 1-A-5, Class 1-A-7, Class 1-A-14 and Class 1-A-17 Certificates on which the related Certificate Interest Rate is based on LIBOR plus the applicable Certificate Margin or 9.500% per annum, an amount equal to the sum of (i) the excess of (x) the amount of interest such class accrued on such Distribution Date at its Certificate Interest Rate for such Distribution Date over (y) the amount of interest such class of Certificates accrued for such Distribution Date at 6.000% per annum with respect to the Class 1-A-5 and Class 1-A-7 Certificates and 6.500% per annum with respect to the Class 1-A-14 and Class 1-A-17 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 Certificate Interest Rate for such Class. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a Book-Entry Termination whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry Certificates.” As of the Closing Date, all Classes of Certificates constitute Book-Entry Certificates, other than the Class B-4, Class B-5, Class B-6, Class II-B-4, Class II-B-5, Class II-B-6, Class A-R-1, Class II-A-R and Class P Certificates.