Class I Shortfalls definition

Class I Shortfalls. As defined in Section 10.01(n) hereof. For purposes of clarity, the Class I Shortfall for any Distribution Date shall equal the amount payable to the Swap Counterparty on such Distribution Date in excess of the amount payable on the Class LT4-I interest in the Upper Tier REMIC on such Distribution Date, all as further provided in Section 10.01(n) hereof.

Class I Shortfalls. As defined in Section 10.01(n) hereof. For purposes of clarity, the Class I Shortfall for any Distribution Date shall equal the amount payable to the Swap Counterparty on such Distribution Date in excess of the amount payable on the Class I interest in REMIC 4 on such Distribution Date, all as further provided in Section 10.01(n) hereof. Class M Certificates: Collectively, the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8 and Class M9 Certificates.

Class I Shortfalls. Not applicable.

Examples of Class I Shortfalls in a sentence

• In addition, each Certificate, other than the Class R, Class LT-R, Class X and Class P Certificates, represents (i) the right to receive payments with respect to any Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls and (ii) the obligation to pay Class I Shortfalls.

• In addition, each Certificate, other than the Class R, Class X and Class P Certificates, represents (i) the right to receive payments with respect to any Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls and (ii) the obligation to pay Class I Shortfalls.

• In addition, each Certificate, other than the Class R, Class X and Class P Certificates, represents (i) the right to receive payments with respect to any Basis Risk Carryover Amounts and (ii) the obligation to pay Class I Shortfalls.

• Each of the Offered Certificates also represent (i) the right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls and (ii) the obligation to pay Class I Shortfalls.

• In addition, each of the Offered Certificates represents the obligation to pay Class I Shortfalls.

More Definitions of Class I Shortfalls

Class I Shortfalls. As defined in Section 10.01(n) hereof.

Class I Shortfalls. For any Swap Payment Date, the excess, if any, of the amount owed to the Swap Provider under the Swap Agreement over the interest accrued on the MT2-IO Interest in the Middle-Tier REMIC 2 for the Accrual Period immediately related to the Distribution Date immediately following such Swap Payment Date.

Class I Shortfalls. As defined in Section 8.11 hereof. For purposes of clarity, the aggregate Class I Shortfall for any Distribution Date shall equal the amount payable to the Derivative Counterparty on such Distribution Date in excess of the amount payable with respect to the Class LT3-I interest in the Upper Tier REMIC on such Distribution Date, all as further provided in Section 8.11 hereof.

Class I Shortfalls. For any Distribution Date, an amount equal to the excess, if any, of (i) the amount payable to the Swap Counterparty on such Distribution Date over (ii) the amount payable on the Class LT2-I in REMIC2 on such Distribution Date.

Class I Shortfalls. As defined in Section 8.11 hereof. For purposes of clarity, the Class [I] Shortfall for any Distribution Date shall equal the amount payable to the Swap Counterparty on such Distribution Date in excess of the amount payable with respect to the Class [ ] interest in the [Upper Tier REMIC] on such Distribution Date, all as further provided in Section 8.11 hereof.

Class I Shortfalls. As defined in Section 2.07 hereof. For purposes of clarity, the aggregate Class I Shortfall for any Distribution Date shall equal the amount payable to the Swap Counterparty on such Distribution Date in excess of the amount payable with respect to the Class LT-Swap-IO on such Distribution Date. With respect to any Class of Offered Certificates, such shortfall will on any Distribution Date equal the excess, if any, of the amount of interest that would have accrued on such Class for the related Interest Accrual Period had its Pass-Through Rate been determined by substituting the REMIC 2 Net WAC Cap for the Net WAC Cap over the amount of interest actually accrued on such Class for such Accrual Period.

Class I Shortfalls. As defined in Section 2.07 hereof. For purposes of clarity, the aggregate Class I Shortfall for any Distribution Date shall equal the amount payable to the Swap Counterparty on such Distribution Date in excess of the sum of the amounts payable with respect to the Class LT-Swap-IO and Class LT3-X Interests in REMIC 3 on such Distribution Date. With respect to any Class of Offered Certificates, such shortfall will on any Distribution Date equal the excess, if any, of the amount of interest that would have accrued on such Class for the related Interest Accrual Period had its Pass-Through Rate been determined by substituting the REMIC 3 Net WAC Cap for the Net WAC Cap over the amount of interest actually accrued on such Class for such Accrual Period.