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
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.
Any Net WAC Cap Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available.
In no event shall either Limited Guarantee require CHI to make payments of the Class II B-3 Net Funds Cap Carryover Amount to the Class II B-3 Certificateholders.
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.
For federal tax return and information reporting, the value of the right of the Holders of the Offered Overcollateralized Certificates to receive payments from the Cap Carryover Reserve Account in respect of any Cap Carryover Amount shall be assumed to have a value of zero as of the Closing Date unless and until required otherwise by an applicable taxing authority.
More Definitions of Cap Carryover Amount
Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Offered Certificate or Class B Certificate 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 4 Cap for purposes of calculating the related Cap Carryover Amount.
Cap Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any Offered Certificate or Class B 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).
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 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 4 Certificates or the Accrued Component Interest for any Component is based upon clause (ii) 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).