Class C Distributable Amount definition

Class C Distributable Amount. As defined in the Preliminary Statement.

Class C Distributable Amount. With respect to any Distribution Date, the amount of interest that has accrued on the Class C Notional Balance, as described in the Preliminary Statement, but that has not been distributed pursuant to Section 5.01(a)(iv)(I) hereof prior to such Distribution Date. In addition, such amount shall include the initial Overcollateralized Amount (less the $100 of such amount allocated to the Class P Certificates) to the extent such amount has not been distributed on prior Distribution Dates as part of the Overcollateralization Release Amount.

Class C Distributable Amount. On any Distribution Date, the amount that has accrued on the Class C Certificates but that has not been distributed on the Class C Certificates on prior Distribution Dates.

Examples of Class C Distributable Amount in a sentence

• The Class C Distributable Amount for any Distribution Date is payable from current interest on the Mortgage Loans and any related Overcollateralization Reduction Amount for that Distribution Date.

• On each Distribution Date on and prior to the X Component Account Termination Date, the Trustee shall withdraw the Class C Distributable Amount for such Distribution Date from the X Component Account, pursuant to Section 5.12 herein, and shall distribute such amount to the Class C Certificates.

• For federal income tax purposes, including the computation of the Class C Distributable Amount and entitlement to Net Rate Carryover, the Pass-Through Rate in respect of each Class 1-A Certificate, Class 2-A Certificate and Class M Certificate will be subject to a cap equal to the Strip REMIC Cap rather than its applicable Net Rate Cap.

• For federal income tax purposes (including the computation of Net Rate Carryover and the Class C Distributable Amount), the Net Rate Cap for the Class 1-A, Class 2-A and Subordinate Certificates shall be the Group 1 Tax Net Rate Cap, the Group 2 Tax Net Rate Cap and the Subordinate Tax Net Rate Cap, respectively.

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More Definitions of Class C Distributable Amount

Class C Distributable Amount. For each Distribution Date on and prior to the Distribution Date occurring on the Class X Account Termination Date, an amount equal to the lesser of (a) aggregate investment earnings on the Class X Account for the related Collection Period and (b) the amount on deposit in the Class X Account on such Distribution Date, after taking into account any payments made from the Class X Account on such Distribution Date to the Class X Certificates. On the Distribution Date occurring on the Class X Account Termination Date, an amount equal to the entire amount remaining on deposit in the Class X Account after making the payments set forth in the preceding sentence.

Class C Distributable Amount means, with respect to any Distribution Date, the sum of the Class C Principal Distributable Amount and the Class C Interest Distributable Amount.

Class C Distributable Amount. With respect to the Class C Interest and any Distribution Date, the sum of (i) the interest accrued on such Class C Interest at its Pass-Through Rate calculated on its Notional Amount less the amount (without duplication) of any Net WAC Rate Carryover Payments paid pursuant to Section 4.02(a)(iii) and less the amount applied as an Extra Principal Distribution Amount on such Distribution Date, (ii) any amount of the REMIC II Uncertificated Principal Balance of the Class C Interest remaining that is distributable as an Overcollateralization Release Amount and (iii) the aggregate of amounts remaining in the Net WAC Rate Carryover Reserve Accounts after the distributions in Sections 4.02(a)(iii)(O) and (P). With respect to the Class C Certificate, 100% of the amount distributed to the Class C Interest.

Class C Distributable Amount. For each Distribution Date (1) on and prior to the Class X Account Termination Date, an amount equal to the lesser of (a) aggregate investment earnings on the Class X Account for the related Collection Period and (b) the amount on deposit in the Class X Account on such Distribution Date, and (2) on the Class X Account Termination Date, an amount equal to the entire amount remaining on deposit in the Class X Account, after making the payments set forth in clause (1) hereto.

Class C Distributable Amount. As to any Distribution Date, an amount equal to the product of (a) the Class C Tax Pass Through Rate and (b) the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of that Distribution Date (after giving effect to Principal Prepayments received in the related Prepayment Period).

Class C Distributable Amount. For each Distribution Date on and prior to the Distribution Date occurring on the X Component Account Termination Date, an amount equal to the lesser of (a) aggregate investment earnings on the X Component Account for the related Collection Period and (b) the amount on deposit in the X Component Account on such Distribution Date, after taking into account any payments made from the X Component Account on such Distribution Date to the X Component of the Class X Certificates. On the Distribution Date occurring on the X Component Account Termination Date, an amount equal to the entire amount remaining on deposit in the X Component Account after making the payments set forth in the preceding sentence.

Class C Distributable Amount. With respect to any Distribution Date and the Class C Interest, the sum of (i) the interest accrued on such Class C Interest at its Pass-Through Rate calculated on its Notional Amount less the amount (without duplication) of Net WAC Cap Carryover Amounts paid pursuant to Section 10.5(a)(iii)(E), (ii) any remaining Aggregate Overcollateralization Release Amounts and (iii) the aggregate of amounts remaining in the Reserve Account after the distributions in Section 10.5(a)(iii)(D), as specified in Section 10.2(b)(i) - (v). With respect to the Class C Certificate, 100% of the amount distributed to the Class C Interest.