Class Interest Shortfall definition

Class Interest Shortfall. As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

Class Interest Shortfall. For any Distribution Date and each interest-bearing Class, the amount by which Accrued Certificate Interest for such Class (as reduced pursuant to Section 5.02(c)) exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to clause (i) of the definition of "Interest Distribution Amount."

Class Interest Shortfall means, with respect to any Payment Date (the “current Payment Date”) and any Class of Notes, the excess of the Class Interest Amount for the preceding Payment Date over the amount in respect of interest on that Class of Notes that was actually deposited in the Note Distribution Account on such preceding Payment Date, plus interest on such excess, to the extent permitted by law, at a rate per annum equal to the Interest Rate on that Class of Notes, from such preceding Payment Date to but excluding the current Payment Date.

Examples of Class Interest Shortfall in a sentence

• Available Funds applied on any Distribution Date to pay the Interest Distribution Amount with respect to any Class of Non-Retained Principal Balance Certificates for such Distribution Date shall be applied first to pay the Current Interest Accrual Amount with respect to such Class of Certificates for such Distribution Date and then to pay any Class Interest Shortfall in respect of the immediately preceding Distribution Date for such Class of Certificates.

• Available Funds applied on any Distribution Date to pay the Interest Distribution Amount with respect to any Class of Regular Certificates for such Distribution Date shall be applied first to pay the Current Interest Accrual Amount with respect to such Class of Certificates for such Distribution Date and then to pay any Class Interest Shortfall in respect of the immediately preceding Distribution Date for such Class of Certificates.

• Available Funds applied on any Distribution Date to pay the Interest Distribution Amount with respect to any Class of Non-Retained Regular Certificates for such Distribution Date shall be applied first to pay the Current Interest Accrual Amount with respect to such Class of Certificates for such Distribution Date and then to pay any Class Interest Shortfall in respect of the immediately preceding Distribution Date for such Class of Certificates.

• Class Interest Shortfall ------------------------ As to any Distribution Date and any Class of Offered Certificates, the amount by which the amount described in the definition of Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date.

• On each Distribution Date, the Trustee shall transfer from the Interest Account to the applicable subaccount of the Certificate Account an amount necessary to cover the applicable Class Interest Shortfall.

More Definitions of Class Interest Shortfall

Class Interest Shortfall. As defined in the definition of “Interest Distribution Amount”.

Class Interest Shortfall. As to any Distribution Date and Class of Group I, Group II, Group III, Group IV, Group V and Group C-B Certificates, the amount by which the amount described in clause (i) of the definition of Interest Distribution Amount for such Class, exceeds the amount of interest actually distributed on such Class on such Distribution Date.

Class Interest Shortfall. As to any Distribution Date and Class of Group II Certificates, the amount by which the amount described in clause (i) of the definition of Interest Distribution Amount for such Class, exceeds the amount of interest actually distributed on such Class on such Distribution Date.

Class Interest Shortfall. With respect to any Class of Non-Retained Principal Balance Certificates or any Uncertificated Lower-Tier Interest for any Distribution Date, the amount by which the Interest Distribution Amount for such Class of Certificates or such Uncertificated Lower-Tier Interest, as the case may be, and such Distribution Date, exceeds the portion of such amount actually distributed to such Class of Certificates or deemed distributed to such Uncertificated Lower-Tier Interest, as the case may be, on such Distribution Date.

Class Interest Shortfall. For any Distribution Date and each interest-bearing Class, the amount by which Accrued Certificate Interest for such Class (as reduced pursuant to Section 5.02(c)) exceeds the amount of interest actually distributed on such Class (or, in the case of the Class 1-A-12 Certificates prior to the Accretion Termination Date, the amount included in the Class 1-A-12 Accrual Distribution Amount pursuant to clause (i) of the definition thereof, but not distributed as interest on the Class 1-A-12 Certificates) on such Distribution Date pursuant to clause (i) of the definition of "Interest Distribution Amount."

Class Interest Shortfall. Not applicable.

Class Interest Shortfall. As to any Distribution Date and any Class of Certificates (other than any Class of Principal Only Certificates or any Class consisting of Specified Components) or any Specified Component, any amount by which the amount distributed to Holders of such Class of Certificates or in respect of such Specified Component (or added to the Class Certificate Principal Balance of any Class of Accrual Certificates or to the Component Principal Balance of any Accrual Component constituting a Specified Component) on such Distribution Date pursuant to Sections 4.01(a)(i), (a)(v), (a)(viii), (a)(xi), (a)(xiv), (a)(xvii) or (a)(xx), as applicable), is less than the Accrued Certificate Interest thereon or in respect thereof for such Distribution Date. As to any Distribution Date and any Class of Certificates consisting of Specified Components, the sum of the Class Interest Shortfalls for such Components on such date.