Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Offered Certificate is based upon a Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate, over (ii) the amount of interest such Certificate received on such Distribution Date based on the related Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Certificate).
Cap Carryover Amount. On any Distribution Date and as to any Class whose Pass-Through Rate is subject to a cap equal to the related Net WAC Cap, the sum of:
Cap Carryover Amount. For any Distribution Date, the sum of (a) if the Accrued Certificate Interest for any Certificate is based upon the Pool Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Formula Rate, over (ii) the amount of interest such Certificate received on such Distribution Date based on the Pool Cap, and (b) if the Pool Cap exceeds the Upper-Tier REMIC WAC Rate, the excess of (i) the lesser of the amount in clause (a)(i) or clause (a)(ii) over (ii) the amount of interest such Certificate would have received on such Distribution Date based on the Upper-Tier REMIC WAC Rate, in each case together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Formula Rate on such Certificate).
Examples of Cap Carryover Amount in a sentence
Any Net WAC Cap Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available.
The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount.
Any remaining Excess Cashflow to pay any unpaid Net WAC Cap Carryover Amount payable to the Offered Certificates and the Class B-1, Class B-2 and Class B-3 Certificates, pro rata.
Yield MaintenanceAgreement:On the Closing Date, the Trustee will enter into a Yield Maintenance Agreement with respect to each of the Class A, Class M-1, Class M-2 and Class B Certificates to make payments in respect of the Net Rate Cap Carryover Amount to the Certificates.
Any remaining Excess Cashflow to pay any unpaid Net WAC Cap Carryover Amount payable to the Class AF-1, Class AV-1, Class AV-2, Class B-1 and Class B-2 Certificates, pro rata.
More Definitions of Cap Carryover Amount
Cap Carryover Amount. If on any Distribution Date, the Overcollateralized Accrued Certificate Interest for any Offered Overcollateralized Certificate or the Class T-B-1 Certificates is based on the Pool Cap, the excess of (i) the amount of interest such Class would have been entitled to receive on such Distribution Date based on its Pass-Through Rate without regard to the Pool Cap over (ii) the amount of interest such Class received on such Distribution Date based on the Pool Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then-applicable Pass-Through Rate on such Class without regard to the Pool Cap). For federal income tax purposes, each application of the Pool Cap shall be an application of the Upper-Tier II REMIC Net WAC Cap for purposes of calculating the Cap Carryover Amount.
Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Offered Certificate and the Class B Certificates is based upon the related Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate, over (ii) the amount of interest such Certificate received on such Distribution Date based on the application of such related Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Certificate). For federal income tax purposes, each application of the applicable Cap shall be an application of the REMIC 3 Cap for purposes of calculating the related Cap Carryover Amount.
Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Class of Class A or Class M Certificate is based upon the Pool Cap, the excess of (i) the amount of interest such Certificate would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate, over (ii) the amount of interest such Certificate received on such Distribution Date based on the Pool Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Certificate).
Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Class of Class A, Class M or Class B Certificates is based upon a Cap, the excess of (i) the amount of interest such Class of Certificates would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate, over (ii) the amount of interest such Class of Certificates received on such Distribution Date based on the related Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Class of Certificates).
Cap Carryover Amount. If on any Distribution Date, the Overcollateralized Accrued Certificate Interest for any Offered Overcollateralized Certificate or Class T2-B Certificates is based on the Pool Cap, the excess of (i) the amount of interest such Class would have been entitled to receive on such Distribution Date based on its Pass-Through Rate without regard to the Pool Cap over (ii) the amount of interest such Class received on such Distribution Date based on the Pool Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then-applicable Pass-Through Rate on such Class without regard to the Pool Cap).
Cap Carryover Amount. If on any Distribution Date, the Overcollateralized Accrued Certificate Interest for any Offered Overcollateralized Certificate is based on the Pool Cap, the excess of (i) the amount of interest such Class would have been entitled to receive on such Distribution Date based on its Pass-Through Rate over (ii) the amount of interest such Class received on such Distribution Date based on the Pool Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then-applicable Pass-Through Rate on such Class. For federal income tax purposes, each application of the Pool Cap shall be an application of the Upper-Tier II REMIC Net WAC Cap for purposes of calculating the Cap Carryover Amount.
Cap Carryover Amount. If on any Distribution Date the Accrued Certificate Interest for any Class of Offered Group 3 Certificates or the Accrued Component Interest for any Component is based upon clause (ii) of the definition of the applicable Cap, the excess of (i) the amount of interest such Class or Component would have been entitled to receive on such Distribution Date based on the related Pass-Through Rate (without regard to the applicable Cap), over (ii) the amount of interest such Class or Component received on such Distribution Date based on the applicable Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate on such Class or Component).