Class C Prior Period Interest definition

Class C Prior Period Interest means the sum, with respect to each Interest Period in which the Class C Certificates would have accrued interest on the Class C Ownership Interest had the Class C Ownership Interest not been reduced for reasons other than the payment of principal to the Class C Certificateholders, of an amount equal to the product of (i) the Class C Certificate Rate in effect during such Interest Period plus 2% per annum, (ii) the actual number of days in such Interest Period divided by 360 and (iii) the amount by which the Class C Ownership Interest was less than the Class C Ownership Interest during such Interest Period for reasons other than the payment of principal to the Class C Certificateholders; provided, however, that Class C Prior Period Interest will not be distributed until the Distribution Date or Distribution Dates following the Transfer Date on which the Class C Ownership Interest has been reimbursed in full for any reductions.
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Class C Prior Period Interest means, with respect to each Interest Period in which the Class C Notes would have accrued interest on the outstanding principal balance of the Class C Notes had the outstanding principal balance of the Class C Notes not been reduced for reasons other than the payment of principal to the Class C Noteholders, an amount equal to the product of (i) the Class C Note Rate in effect during such Interest Period, (ii) the actual number of days in such Interest Period divided by 360 and (iii) the
Sample 1
Class C Prior Period Interest means, with respect to each Interest Period in which the Class C Notes would have accrued interest on the outstanding principal balance of the Class C Notes had the outstanding principal balance of the Class C Notes not been reduced for reasons other than the payment of principal to the Class C Noteholders, an amount equal to the sum of (a) the product of (i) the Class C Note Rate in effect during such Interest Period plus 2% per annum, (ii) the actual number of days in such Interest Period divided by 360 and (iii) the amount by which the outstanding principal balance of the Class C Notes was less than the outstanding principal balance of the Class C Notes during such Interest Period for reasons other than the payment of principal to the Class C Noteholders and (b) all unpaid Class C Prior Period Interest from prior Interest Periods; provided, however, that Class C Prior Period Interest shall not be distributed until the Payment Date or Payment Dates following the Transfer Date on which the Class C Notes have been reimbursed in full for any reductions.
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Examples of Class C Prior Period Interest in a sentence

  • The amount of the distribution set forth in A1 above in respect of Class C Prior Period Interest .......................

Related to Class C Prior Period Interest

  • Class C Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class C Notes at the Class C Interest Rate on the Class C Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class C Noteholders on or prior to such preceding Payment Date.

  • Class B Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date.

  • Class D Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class D Notes at the Class D Interest Rate on the Class D Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class D Noteholders on or prior to such preceding Payment Date.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Adjusted Actual/360 Accrued Interest Amount with respect to any REMIC I Regular Interest referred to in clause (B) of the second sentence of the prior paragraph, for any Interest Accrual Period, is an amount of interest equal to the product of (a) the Net Mortgage Rate then in effect (including as a result of any step-up provision) for the related Mortgage Loan under the original terms of such Mortgage Loan in effect as of the Closing Date (without regard to any modifications, extensions, waivers or amendments of such Mortgage Loan subsequent to the Closing Date, whether entered into by the Master Servicer or the Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower), multiplied by (b) a fraction, the numerator of which is the number of days in such Interest Accrual Period, and the denominator of which is 360, multiplied by (c) the Uncertificated Principal Balance of such REMIC I Regular Interest immediately prior to the Distribution Date that corresponds to such Interest Accrual Period; provided that, if the subject Interest Accrual Period occurs during (x) December of any year that does not immediately precede a leap year or (y) January of any year, then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be decreased by the Interest Reserve Amount, if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.04(c), from the Distribution Account to the Interest Reserve Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period; and provided, further, that, if the subject Interest Accrual Period occurs during February of any year (or during any December or January preceding the month of the Final Distribution Date), then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be increased by the Interest Reserve Amount(s), if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.05(c), from the Interest Reserve Account to the Distribution Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Class A Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class A-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2027.

  • Accrued Class B Note Interest means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A-3 Final Scheduled Payment Date means the Payment Date occurring in April 2028.

  • Class A-1 Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed and a 360-day year).

  • Class A-4 Note Interest Rate means a rate per annum equal to 2.11%.

  • Class D Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

  • Class A-4 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑4 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑4 Rate or, in the case of the first Payment Date, on the Class A‑4 Initial Principal Balance.