Class M-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 M-2 Remittance Rate on the Class M-2 Adjusted Principal Balance as of such Remittance Date, (b) the aggregate Unpaid Class M-2 Interest Shortfall, if any, (c) the Class M-2 Percentage of the Formula Principal Distribution Amount, (d) any Unpaid Class M-2 Principal Shortfall, (e) any Class M-2 Liquidation Loss Interest Amount, and (f) any Unpaid Class M-2 Liquidation Loss Interest Shortfall; provided, however, that on the Class M-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 M-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the proviso to such term shall instead be included in clause (c) of this definition; provided, further, that the aggregate of all amounts distributed for all Remittance Dates pursuant to clauses (c) and (d) shall not exceed the Original Class M-2 Principal Balance.
Class M-2 Formula Distribution Amount means, as to any Distribution Date, an amount equal to the sum of (a) interest (calculated in the manner specified in Section 1.03) at the Class M-2 Pass-Through Rate on the Class M-2 Adjusted Principal Balance as of such Distribution Date, (b) the aggregate Unpaid Class M-2 Interest Shortfall, if any, (c) the Class M-2 Percentage of the Formula Principal Distribution Amount, (d) any Unpaid Class M-2 Principal Shortfall, (e) any Additional Principal Distribution Amount to be distributed to the Class M-2 Certificates pursuant to Section 8.03(a)(13), (f) any Class M-2 Liquidation Loss Interest Amount, and (g) any Unpaid Class M-2 Liquidation Loss Interest Shortfall; provided, however, that on the Class M-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 M-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the proviso to such term shall instead be included in clause (c), (d) or (e) of this definition, as applicable; provided, further, that the aggregate of all amounts distributed for all Distribution Dates pursuant to clauses (c), (d) and (e) shall not exceed the Original Class M-2 Principal Balance.
Class M-2 Formula Distribution Amount means, as to any Remittance Date, an amount equal to the sum of:
Examples of Class M-2 Formula Distribution Amount in a sentence
Amount, if any, by which the amount in clause (c) of the Class M-2 Formula Distribution Amount (the "Class M-2 Formula Principal Distribution Amount") exceeds the amount distributed pursuant to item (35) Class B Principal Distribution Tests ------------------------------------ (tests must be satisfied on and after the Payment Date occurring in April 2002) 38.
Amount, if any, by which the amount in clause (c) of the Class M-2 Formula Distribution Amount (the "Class M-2 Formula Principal Distribution Amount") exceeds the amount distributed pursuant to item (39) $ 0.00 -------------- Class B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in October 2002) 41.
Amount, if any, by which the amount in clause (c) of the Class M-2 Formula Distribution Amount (the "Class M-2 Formula Principal Distribution Amount") exceeds the amount distributed pursuant to item (34) $ 0.00 ----------------- Class B Principal Distribution Tests ------------------------------------ (tests must be satisfied on and after the Payment Date occurring in August 2002) 37.
Amount, if any, by which the amount in clause (c) of the Class M-2 Formula Distribution Amount (the "Class M-2 Formula Principal Distribution Amount") exceeds the amount distributed pursuant to item (34) $ 0.00 -------------- Class B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in August 2002) 37.
Amount, if any, by which the amount in clause (c) of the Class M-2 Formula Distribution Amount (the "Class M-2 Formula Principal Distribution Amount") exceeds the amount distributed pursuant to item (32) $ 0.00 -------------- Class B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in October 2002) 35.
More Definitions of Class M-2 Formula Distribution Amount
Class M-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 M-2 Pass-Through Rate on the Class M-2 Adjusted Principal Balance for such Payment Date, (b) any Unpaid Class M-2 Interest Shortfall, (c) if such Payment Date is after the Class M-1 Cross-over Date, but on or prior to the Class M-2 Cross-over Date, the Senior Percentage of the Formula Principal Distribution Amount and (d) any Class M-2 Formula Liquidation Loss Interest Distribution Amount; provided, however, that on the Class M-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 M-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 for all Payment Dates pursuant to clause (c) of this definition shall not exceed the Original Class M-2 Principal Balance.
Class M-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 the first Payment Date) at the Class M-2 Pass-Through Rate on the excess of the Class M-2 Principal Balance over the Class M-2 Liquidation Loss Principal Amount, to be calculated immediately prior to such Payment Date, (b) any Unpaid Class M-2 Interest Shortfall and (c) if such Payment Date is after the Class M-1 Cross-over Date, but on or prior to the Class M-2 Cross-over Date, the Senior Percentage of the Formula Principal Distribution Amount; provided, however, that on the Class M-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 M-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 for all Payment Dates pursuant to clause (c) of this definition shall not exceed the Original Class M-2 Principal Balance.
Class M-2 Formula Distribution Amount means, as to any Payment Date, the sum of (a) the Class M-2 Interest Amount, (b) any Unpaid Class M-2 Interest Shortfall, (c) any Class M-2 Formula Liquidation Loss Interest Amount, and (d) the Class M-2 Formula Principal Distribution Amount.
Class M-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 M-2 Remittance Rate on the Class M-2 Adjusted Principal Balance as of such Remittance Date, (b) the aggregate Unpaid Class M-2 Interest Shortfall, if any, (c) the Class M-2 Percentage of the Formula Principal Distribution Amount, (d) any Unpaid Class M-2 Principal Shortfall, (e) any Additional Principal Distribution Amount to be distributed to the Class M-2 Certificates pursuant to Section 8.03(a)(13), (f) any Class M-2 Liquidation Loss Interest Amount, and (g) any Unpaid Class M-2 Liquidation Loss Interest Shortfall; provided, however, that on the Class M-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 M-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the 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 for all Remittance Dates pursuant to clauses (c), (d) and (e) shall not exceed the Original Class M-2 Principal Balance.
Class M-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 December 15, 1999) at (1) the Class MV-2 Pass-Through Rate on the Class MV-2 Adjusted Principal Balance and (2) the Class MF-2 Pass-Through Rate on the Class MF-2 Adjusted Principal Balance, in each case to be calculated immediately prior to such Payment Date, (b) the aggregate of the Unpaid Class M-2 Interest Shortfalls, if any, with respect to each Class of Class M-2 Certificates, (c) the sum of the Class MF-2 and Class MV-2 Formula Principal Distribution Amounts and (d) the aggregate of the Class M-2 Formula Liquidation Loss Interest Distribution Amounts, if any, with respect to each Class of Class M-2 Certificates.
Class M-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 M-2 Pass-Through Rate on the excess of the Class M-2 Principal Balance over the Class M-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 M-2 Interest Shortfall and (c) if such Payment Date is after the Fourth Cross-over Date, but on or prior to the Fifth Cross-over Date, the Senior Percentage of the Formula Principal Distribution Amount; provided, however, that on the Fourth 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 M-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the aggregate of all amounts distributed for all Payment Dates pursuant to clause (c) of this definition shall not exceed the Original Class M-2 Principal Balance.
Class M-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 June 15, 1997) at the Class M-2 Pass-Through Rate on the excess of the Class M-2 Principal Balance over the Class M-2 Liquidation Loss Principal 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 M-2 Interest Shortfall and (c) if such Payment Date is after the Class M-1 Cross-over Date, but on or prior to the Class M-2 Cross-over date, the Senior Percentage of the Formula Principal Distribution Amount; provided, however, that on the Class M-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 M-1 Formula Distribution Amount" (assuming a sufficient Amount Available) but for the operation of the proviso in such definition shall instead be included in clause (c) of this definition; and provided, further, that the aggregate of all amounts -------- ------- distributed for all Payment Dates pursuant to clause (c) of this definition shall not exceed the Original Class M-2 Principal Balance.