Class B-2 Formula Distribution Amount means, as to any Remittance Date, an amount equal to the sum of (a) interest (calculated in the manner specified in Section 1.03) at the Class B-2 Remittance Rate on the Class B-2 Principal Balance as calculated immediately prior to such Remittance Date, (b) any Unpaid Class B-2 Interest Shortfall, (c) (i) if such Remittance Date is prior to or on the Class B-1 Cross-over Date, zero or (ii) if such Remittance Date is after the Class B-1 Cross-over Date, the Class B Percentage of the Formula Principal Distribution Amount, (d) the Class B-2 Liquidation Loss Amount and (e) any Unpaid Class B-2 Principal Shortfall; provided, however, that on the Class B-1 Cross-over Date, the balance of any amounts that would have been distributable on such date pursuant to clauses (c) and (d) of the term "Class B-1 Formula Distribution Amount" (assuming a sufficient Remaining Amount Available) but for the operation of the second proviso to such term shall instead be included in clause (c) of this definition; provided, further, that the aggregate of all amounts distributed pursuant to clauses (c), (d) and (e) of this definition shall not exceed the Original Class B-2 Principal Balance.

Class B-2 Formula Distribution Amount means, as to any Remittance Date, ------------------------------------- an amount equal to the sum of (a) interest (calculated in the manner specified in Section 1.03) at the Class B-2 Remittance Rate on the Class B-2 Principal Balance as calculated immediately prior to such Remittance Date, (b) any Unpaid Class B-2 Interest Shortfall, (c) (i) if such Remittance Date is prior to or on the Class B-1 Cross-Over Date, zero or (ii) if such Remittance Date is after the Class B-1 Cross-Over Date, the Class B Percentage of the Formula Principal Distribution Amount, (d) any Unpaid Class B-2 Principal Shortfall, and (e) any Additional Principal Distribution Amount to be distributed to the Class B-2 Certificates pursuant to Section 8.03(a)(12); provided, however, that on the Class B-1 Cross-Over Date, the balance of any amounts that would have been distributable on such date pursuant to clauses (c) and (d) of the term "Class B- 1 Formula Distribution Amount" (assuming a sufficient Remaining Amount Available) but for the operation of the second proviso to such term shall instead be included in clause (c) or (e) of this definition, as applicable; provided, further, that the aggregate of all amounts distributed pursuant to clauses (c), (d), and (e) of this definition shall not exceed the Original Class B-2 Principal Balance.

Class B-2 Formula Distribution Amount means, as to any Remittance Date, an amount equal to the sum of:

Examples of Class B-2 Formula Distribution Amount in a sentence

Amount by which Class B-2 Formula Distribution Amount (lines 52(b) and (c), 54, and 55) exceeds Class B-2 Distribution Amount (lines 52(d) and 57) $ 0.00 -------------- Class B-2 Principal Distribution Tests -------------------------------------- (tests must be satisfied on and after the Payment Date occurring in July 2003) 57.
Amount, if any, by which Class B2 Formula Distribution Amount plus Class B-2 Liquidation Loss Principal Amount exceeds Class B2 Distribution Amount $ 0.00 --------------------- Class A, Class M, and Class B Certificates ------------------------------------------ 66.
Amount, if any, by which Class B2 Formula Distribution Amount plus Class B-2 Liquidation Loss Principal Amount exceeds Class B2 Distribution Amount $ 0.00 -------------- CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E MONTHLY REPORT November 1999 PAGE 7 Distribution Date: 12/15/99 CUSIP# 393505 3V2 3W0 3X8 3Y6 4A7 4B5 4C3 4D1 Trust Account: 3337750-0 Class A, Class M, and Class B Certificates ------------------------------------------ 64.
Amount, if any, by which Class B2 Formula Distribution Amount plus Class B-2 Liquidation Loss Principal Amount exceeds Class B2 Distribution Amount $ 0.00 --------------- Class A, Class M, and Class B Certificates ------------------------------------------ 66.
Amount, if any, by which Class B-2 Formula Distribution Amount plus Class B-2 Liquidation Loss Principal Amount exceeds Class B-2 Distribution Amount __________ Class A, Class M and Class B Certificates ----------------------------------------- 67.

More Definitions of Class B-2 Formula Distribution Amount

Class B-2 Formula Distribution Amount means, as to any Payment Date, the sum of (a) the Class B-2 Interest Amount, (b) any Unpaid Class B-2 Interest Shortfall, (c) the Class B-2 Formula Principal Distribution Amount, and (d) the Class B-2 Liquidation Loss Principal Amount, if any (but in no event more than is necessary to reduce the Class B-2 Principal Balance to zero).

Class B-2 Formula Distribution Amount means, for any Payment Date, an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding October 15, 1999) at the Class B-2 Pass-Through Rate on the Class B-2 Principal Balance, (b) any Unpaid Class B-2 Interest Shortfall, and (c) if such Payment Date is after the Class B-1 Cross-over Date, the Class B Percentage of the Formula Principal Distribution Amount; provided, however, that on the Class B-1 Cross-over Date, the balance of any amounts that would have been distributable on such date pursuant to clause (c) of the definition of the term "Class B-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the second proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the aggregate of all amounts distributed pursuant to clause (c) of this definition shall not exceed the Original Class B-2 Principal Balance.

Class B-2 Formula Distribution Amount means, as to any Remittance Date, ------------------------------------- an amount equal to the sum of (a) one month's interest (or as to the first Remittance Date, interest from and including the Closing Date to but excluding the first Remittance Date) (calculated in the manner specified in Section 1.03) at the Class B-2 Remittance Rate on the Class B-2 Principal Balance as calculated immediately prior to such Remittance Date, (b) any Unpaid Class B-2 Interest Shortfall, (c) (i) if such Remittance Date is prior to or on the Class B-1 Cross-Over Date, zero or (ii) if such Remittance Date is after the Class B-1 Cross-Over Date, the Class B Percentage of the Formula Principal Distribution Amount, (d) any Unpaid Class B-2 Principal Shortfall, and (e) any Additional Principal Distribution Amount to be distributed to the Class B-2 Certificates pursuant to Section 8.03(a)(13); provided, however, that on the Class B-1 Cross- Over Date, the balance of any amounts that would have been distributable on such date pursuant to clauses (c), (d) and (e) of the term "Class B-1 Formula Distribution Amount" (assuming a sufficient Remaining Amount Available) but for the operation of the second proviso to such term shall instead be included in clause (c) or (e) of this definition, as applicable; provided, further, that the aggregate of all amounts distributed pursuant to clauses (c), (d) and (e) of this definition shall not exceed the Original Class B-2 Principal Balance.

Class B-2 Formula Distribution Amount means, as to any Payment Date, an amount equal to the sum of (a) one month's interest (or, as to the first Payment Date, interest from and including the Closing Date to but excluding April 15, 1996) at the Class B-2 Pass-Through Rate on the excess of the Class B-2 Principal Balance over the Class B-2 Principal Shortfall Amount, to be calculated immediately prior to such Payment Date on the basis of a 360-day year of twelve 30-day months, (b) any Unpaid Class B-2 Interest Shortfall, and (c) if such Payment Date is after the Sixth Cross-over Date, the Class B Percentage of the Formula Principal Distribution Amount; provided, however, that on the Sixth Cross-over Date, the balance of any amounts that would have been distributable on such date pursuant to clause (c) of the definition of the term "Class B-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the second proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the aggregate of all amounts distributed pursuant to clause (c) of this definition shall not exceed the Original Class B-2 Principal Balance.

Class B-2 Formula Distribution Amount means, as to any Remittance Date, an amount equal to the sum of (a) one month's interest (or, with respect to the first Remittance Date, interest from and including the Closing Date to but excluding January 15, 1997) at the Class B-2 Remittance Rate on the Class B-2 Principal Balance as calculated immediately prior to such Remittance Date, (b) any Unpaid Class B-2 Interest Shortfall, (c) (i) if such Remittance Date is prior to or on the Class B-1 Cross-over Date, zero or (ii) if such Remittance Date is after the Class B-1 Cross-over Date, the Class B Percentage of the Formula Principal Distribution Amount, (d) the Class B-2 Liquidation Loss Amount and (e) any Unpaid Class B-2 Principal Shortfall; provided,

Class B-2 Formula Distribution Amount definition

Filter & Search

Related Definitions