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 (and not the related fixed rate for the Class M Certificates set forth in clause (i) in the applicable description of the Class Coupon for the Class M Certificates), 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 actually accrued on such Class for such Distribution Date after giving effect to the limitation of the Class M Net WAC. 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. 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.
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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.”
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Examples of Cap Carryover in a sentence

  • To the extent the Class Coupon of the Class M Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover while its Class Principal Amount is greater than zero.

  • To the extent the Class Coupon of the Class M Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover while outstanding.

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  • To the extent the Class Coupon of the Class M-2 Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover.

  • To the extent the Class Coupon of the Class M-1 Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover.

  • To the extent the Class Coupon of the Class M-1 Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover for such Class of Certificates while outstanding.

  • The Available Funds Cap Carryover Account may also contain funds that the Trustee holds for one or more other Trusts or Other Xxxxxx Xxx Trusts, provided that the Trustee keeps, or causes to be kept, separate records of funds with respect to each Trust.

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  • Section 4.11 Cap Carryover Reserve Account...............................

Related to Cap Carryover

  • Carryover means the provision under Section 42 of the IRC and Rule 67-48.028, F.A.C., which allows a Development to receive a Housing Credit Allocation in a given calendar year and be placed in service by the close of the second calendar year following the calendar year in which the allocation is made.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Net WAC Rate Carryover Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates on such Distribution Date calculated at the related Formula Rate, over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate for such Class of Certificates for such Distribution Date and for such Accrual Period.

  • Principal Carryover Shortfall means, as of the close of business on any Payment Date, the excess, if any, of the Principal Distribution Amount over the Monthly Principal Distributable Amount.

  • 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 With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class B 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 B Notes.

  • 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.

  • Noteholders' Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Noteholders’ Principal Distributable Amount for the preceding Distribution Date over the amount in respect of principal that is actually paid as principal on the Notes on such previous Distribution Date. Noteholders’ Principal Carryover Shortfall is not used to determine the amount of principal due on the Notes on any Distribution Date, but is used solely for reporting purposes.

  • Class B Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class B Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law, at the Class B Interest Rate for the related Interest Period.

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Interest Carry Forward Amount With respect to any Distribution Date and the Class A Certificates or the Mezzanine Certificates, the sum of (i) the amount, if any, by which (a) the Interest Distribution Amount for such Class of Certificates as of the immediately preceding Distribution Date exceeded (b) the actual amount distributed on such Class of Certificates in respect of interest on such immediately preceding Distribution Date, (ii) the amount of any Interest Carry Forward Amount for such Class of Certificates remaining unpaid from the previous Distribution Date and (iii) accrued interest on the sum of (i) and (ii) above calculated at the related Pass-Through Rate for the most recently ended Interest Accrual Period.

  • Noteholders’ Interest Carryover Shortfall means, with respect to any Distribution Date and a Class of Notes, the excess, if any, of the sum of the Noteholders’ Monthly Interest Distributable Amount for such Class for the preceding Distribution Date plus any outstanding Noteholders’ Interest Carryover Shortfall for such Class on such preceding Distribution Date, over the amount in respect of interest that is actually paid on the Notes of such Class on such preceding Distribution Date, plus, to the extent permitted by applicable law, interest on the Noteholders’ Interest Carryover Shortfall at the related Interest Rate for the related Interest Period (calculated on the same basis as interest on that Class of Notes for the same period).

  • Class A Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class A Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to holders of the Class A Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by each Class of the Class A Notes for the related Interest Accrual Period.