Cap Carryover definition

Cap Carryover means for any Distribution Date, if the Class Coupon for the Class M Certificates is calculated based on the Class M Net WAC, an amount equal to the excess, if any, of (a) the amount of interest that would have accrued at the Class Coupon for such Class (without regard to the Class M Net WAC) over (b) the amount of interest that accrued on such Class for such Distribution Date after giving effect to the limitation of the Class M Net WAC. Any Cap Carryover will be payable to the Class M Certificates from the Interest Distribution Amounts otherwise distributable to the more junior Classes of Certificates as further described under “— Distributions of Interest”.
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Cap Carryover means for any Distribution Date, if the Class Coupon for the Class M-1 or Class M-2 Certificates is calculated based on the Subordinate Adjusted Net WAC or the Class M-2 Net WAC, respectively (and not the related fixed rate for such Class set forth in clause (i) in the applicable description of the Class Coupon for such Class), an amount equal to the excess, if any, of (a) the amount of interest that would have accrued at the Class Coupon for such Class (without regard to the Subordinate Adjusted Net WAC or the Class M-2 Net WAC, as applicable) over (b) the amount of interest that actually accrued on such Class for such Distribution Date giving effect to the limitation of the Subordinate Adjusted Net WAC or the Class M-2 Net WAC, as applicable. Cap Carryover will be payable to the Class M-1 or Class M-2 Certificates, as applicable, from the Interest Distribution Amount otherwise distributable to the more junior Classes of Certificates as further described under “— Distributions of Interest.”
Sample 1
Cap Carryover. With respect to each Class of Notes and each Payment Date, an amount equal to the sum of (i) the excess, if any, of the applicable Interest Payment Amount for such Payment Date (calculated without regard to clause (ii) of the definition of Note Rate) over the amount in respect of interest actually paid on such Class of Notes for such Payment Date, (ii) any remaining unpaid Cap Carryover for such Class from prior Payment Dates and (iii) interest on such remaining Cap Carryover referred to in clause (ii) at the applicable Note Rate (without regard to clause (ii) of the definition thereof) for the related Accrual Period on the basis of a 360-day year consisting of twelve 30-day months.
Sample 1

Examples of Cap Carryover in a sentence

  • Amounts held in the Cap Carryover Reserve Account shall be held uninvested.

  • By accepting a Class CE Certificate, each Holder of a Class CE Certificate hereby agrees to direct the Securities Administrator, and the Securities Administrator hereby is directed, to deposit into the Cap Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any Cap Carryover Amount rather than distributing such amounts to the Holders of the Class CE Certificates.

  • Net WAC Cap Deposit Amount -------------------------- As to any Distribution Date, an amount equal to the sum of (a) the aggregate Net WAC Cap Carryover for such Distribution Date plus (b) the amount, if any, needed to increase the aggregate amount on deposit in the Net WAC Cap Account (after giving effect to all payments to be made pursuant to Section 4.02(f)) to $10,000.

  • No adjustment in the Preferred Conversion Price shall be made in respect of the issuance of Additional Ordinary Shares unless the consideration per share for an Additional Ordinary Share issued or deemed to be issued by the Company is less than the Preferred Conversion Price of such series in effect on the date of and immediately prior to such issuance.

  • Any Net WAC Cap Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available.

  • Upon the termination of the Trust, or the payment in full of the Offered Certificates, all amounts remaining on deposit in the Net WAC Cap Carryover Reserve Fund will be released from the lien of the Trust and distributed to the Class X-IO Certificateholders or their designees.

  • If no Net Rate Cap Carryover is payable on a Distribution Date, the Trustee shall deposit into the Net Rate Cap Fund on behalf of the Class C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000.

  • REMIC I shall hold as its assets the Home Equity Loans and all collections and accounts related thereto, other than the Net WAC Cap Carryover Reserve Fund and the Swap Account.

  • The Class X-IO Certificates also evidence ownership of the assets held from time to time in the Net WAC Cap Carryover Reserve Fund, as further described in Section 7.04 hereof.

  • On each Distribution Date, following all distributions, deposits and allocations made pursuant to subsections (a) through (f) above, the Trustee shall distribute, pro rata, to the Offered Certificates, the applicable Net WAC Cap Carryover for such Distribution Date, if any, from the Net WAC Cap Account (to the extent of available funds therein).

Related to Cap Carryover

  • Class C Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class C Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class C Notes.

  • Class B Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class B Interest Distributable Amount for such Payment Date and any outstanding Class B Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class B Interest Carryover Shortfall at the Class B Rate, to the extent lawful, calculated on the same basis as interest on the Class B Notes for the same period), over (y) the amount of interest distributed to the Class B Noteholders on such Payment Date.

  • Class D Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class D Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class D Notes.

  • Class A Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class A Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class A Notes.