Class S Interest Distribution Amount definition

Class S Interest Distribution Amount. With respect to each class of Class S Certificates for any Distribution Date, the aggregate amount of interest accrued for the related Accrual Period on the related Notional Amount immediately prior to such Distribution Date at the related Class S Pass-Through Rate (based on a 360-day year and the actual number of days in the prior calendar month in the case of the Class I S Certificates and a 360-day year and a 30-day month in the case of the Class II S Certificates).
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Class S Interest Distribution Amount. On any Distribution Date, (a) ------------------------------------ the aggregate of the product of (i) the Principal Balance of each Mortgage Loan immediately after the Distribution Date preceding such Distribution Date (or, with respect to the first Distribution Date, immediately prior to the Closing Date) and (ii) one-twelfth of 0.80%, minus (b) the aggregate amount of Prepayment Interest Shortfalls and Relief Act Shortfalls allocated to the Class S Certificates pursuant to Section 4.05 on such Distribution Date. On any Distribution Date with respect to which there are Realized Losses, the Class S Interest Distribution Amount, to the extent of such Realized Losses, shall be allocated between the Class A-I and Class A-II Certificates in proportion to the principal portion of Realized Losses on the related Loan Group for the related Distribution Date.
Sample 1
Class S Interest Distribution Amount. On any Distribution Date, (a) the aggregate of the product of (i) the Principal Balance of each Mortgage Loan immediately after the Distribution Date preceding such Distribution Date (or, with respect to the first Distribution Date, immediately prior to the Closing Date) and (ii) one-twelfth of 0.70%, plus (b) the product of (i) the Class S Cumulative Interest Shortfall Amount and (ii) the Certificate Rate for the Class A Certificates (the sum of (a) and (b) being equal to the sum, for each of the components of the Certificate Rate with respect to the Class S Certificates of the product of such Certificate Rate and the applicable notional amount as specified in the definition of Certificate Rate), minus (c) the aggregate amount of Prepayment Interest Shortfalls and Relief Act Shortfalls allocated to the Class S Certificates pursuant to Section 4.05 on such Distribution Date.
Sample 1

Examples of Class S Interest Distribution Amount in a sentence

  • If the amount of Realized Losses in respect of any Prepayment Period exceeds the amount of the Class S Interest Distribution Amount for such Distribution Date, the Trustee shall transfer to the Certificate Account from, and to the extent of, the funds on deposit in the Reserve Fund in accordance with Sections 4.01 and 4.07.

  • In every case, such Realized Losses shall be allocated first to the Class S Certificates, by operation of clause (vi) of the definitions of Class A-I Principal Distribution Amount and Class A-II Principal Distribution Amount, up to the amount of the Class S Interest Distribution Amount for the related Distribution Date.

  • If the amount of Realized Losses in respect of any Prepayment Period exceeds the amount of the Class S Interest Distribution Amount for such Distribution Date, the Trustee shall transfer to the Certificate Account from, and to the extent of, the funds on deposit in the Reserve Account in accordance with Sections 4.01 and 4.07.

  • To the extent Realized Losses allocated with respect to any Distribution Date exceed the Class S Interest Distribution Amount and amounts available on deposit in the Reserve Fund, and payments are not made in respect thereof by the Certificate Insurer as required under the Policy, the remaining Realized Losses will be allocated to the related Class of Class A Certificates.

  • Prepayment Interest Shortfalls resulting from a Principal Prepayment of a Mortgage Loan during any Prepayment Period and Relief Act Shortfalls will be applied first, to reduce the Class A Interest Distribution Amount payable on the related Distribution Date as set forth in the definition of the Class A Interest Distribution Amount and second, to reduce the Class S Interest Distribution Amount payable on the related Distribution Date, in respect of such Mortgage Loan.

  • In every case, such Realized Losses shall be allocated first to the Class S Certificates, by operation of clause (vi) of the definitions of Class [A-I] Principal Distribution Amount and Class [A-II] Principal Distribution Amount, up to the amount of the Class S Interest Distribution Amount for the related Distribution Date.

  • To the extent Realized Losses allocated with respect to any Distribution Date exceed the Class S Interest Distribution Amount and amounts available on deposit in the Reserve Account, and payments are not made in respect thereof by the Insurer as required under the Policy, the remaining Realized Losses will be allocated to the related Class of Class A Certificates.

  • To the extent Realized Losses allocated with respect to any Distribution Date exceed the Class S Interest Distribution Amount and amounts available on deposit in the Reserve Fund, and payments are not made in respect thereof by the Insurer as required under the Policy, the remaining Realized Losses will be allocated to the related Class of Class A Certificates.

  • On any Distribution -------------------------------------------- Date, an amount equal to (i) any portion of a Class S Interest Distribution Amount that was not distributed to the Holders of the Class S Certificates on any preceding Distribution Date less (ii) any amount described in clause (i) hereof that is included in a Realized Loss that has been allocated to the Class S Certificates on or prior to such Distribution Date.

Related to Class S Interest Distribution Amount

  • Class Interest Distribution Amount As to each RCR Class and each Distribution Date, an amount equal to interest accrued during the related Interest Accrual Period (computed on the basis of a 360-day year consisting of twelve 30-day months) at the applicable Interest Rate on the Class Balance thereof immediately prior to such Distribution Date.

  • Interest Distribution Amount With respect to any Distribution Date and any Class A Certificates, any Mezzanine Certificates and any Class CE Certificates, the aggregate Accrued Certificate Interest on the Certificates of such Class for such Distribution Date.

  • Class A Interest Distribution Amount means, as to each Class of Class A Certificates and any Remittance Date, the sum of the amounts specified in clause (a)(i), (a)(ii), (a)(iii), (a)(iv), (a)(v) and (a)(vi), as appropriate, of the definition of the term "Class A Formula Distribution Amount" and the Unpaid Class A Interest Shortfall, if any, with respect to such Class.

  • Class Optimal Interest Distribution Amount With respect to any Distribution Date and interest-bearing Class, the sum of (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class, on the related Class Certificate Balance or Notional Amount, as applicable, immediately prior to such Distribution Date, subject to reduction pursuant to Section 4.02(d), and (ii) any Class Unpaid Interest Amounts for such Class.

  • Current Class A Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class A Certificates pursuant to Paragraph first of Section 4.01(a) on such Distribution Date.

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Current Class B Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class B Certificates pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and twentieth of Section 4.01(a) on such Distribution Date.

  • Note Class Interest Distributable Amount With respect to any class of Notes and any Distribution Date, the product of (i) the outstanding principal balance of such class of Notes as of the close of the preceding Distribution Date (or, in the case of the first Distribution Date, the outstanding principal balance of such class of Notes on the Closing Date) and (ii) (a) in the case of the Notes, other than the Class A-1 Notes, one-twelfth of the Interest Rate for such class (or, in the case of the first Distribution Date, the Interest Rate for such class multiplied by a fraction, the numerator of which is 15 and the denominator of which is 360) and (b) in the case of the Class A-1 Notes, the product of the Interest Rate for such class of Notes for such Distribution Date and a fraction, the numerator of which is the number of days elapsed from and including the prior Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date), to but excluding that Distribution Date and the denominator of which is 360. Note Depository: The depository from time to time selected by the Indenture Trustee on behalf of the Issuing Entity in whose name the Notes are registered prior to the issue of Definitive Notes. The first Note Depository shall be Cede & Co., the nominee of the initial Clearing Agency.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Class A Distribution Amount As to any Distribution Date, the aggregate amount distributable to the Subclasses of Class A Certificates pursuant to Paragraphs first, second, third and fourth of Section 4.01(a) on such Distribution Date.

  • Class B-6 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-6 Certificates pursuant to Paragraphs twentieth, twenty-first and twenty-second of Section 4.01(a).

  • Class B Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class B note rate for the related accrual period on the outstanding principal balance of the class B notes on the immediately preceding distribution date, after giving effect to all principal distributions to class B noteholders on that preceding distribution date, and • the Class B Note Interest Shortfall for that distribution date.

  • Senior Interest Distribution Amount With respect to any Distribution Date, an amount equal to the sum of (i) the Interest Distribution Amount for such Distribution Date for the Class A Certificates and (ii) the Interest Carry Forward Amount, if any, for such Distribution Date for the Class A Certificates.

  • Class B-4 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-4 Certificates pursuant to Paragraphs fourteenth, fifteenth, and sixteenth of Section 4.01(a).

  • Class B-5 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-5 Certificates pursuant to Paragraphs seventeenth, eighteenth, and nineteenth of Section 4.01(a).

  • REMIC IV Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of REMIC IV Regular Interests; and

  • REMIC I Distribution Amount For any Distribution Date, the REMIC I Available Distribution Amount shall be distributed to the REMIC I Regular Interests and the Class R-1 Residual Interest in the following amounts and priority:

  • Class A-P Principal Distribution Amount As defined in Section 4.02.

  • Class B-2 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-2 Certificates pursuant to Paragraphs eighth, ninth and tenth of Section 4.01(a).

  • Class B-1 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-1 Certificates pursuant to Paragraphs fifth, sixth and seventh of Section 4.01(a).

  • Class C Distribution Amount With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however, that, on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount.

  • Class Principal Distribution Amount As to each RCR Class, an amount as to principal equal to (i) the concurrent distribution of principal in respect of the related REMIC Class or Classes multiplied by (ii) a fraction the numerator of which is the Aggregate Denomination of such RCR Class and the denominator of which is the Initial Authorized Denomination of such RCR Class. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.

  • Class A Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the aggregate Class Certificate Balances of the Class A Certificates immediately prior to such Distribution Date over (ii) the lesser of (A) 54.50% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over $3,608,680.

  • Residual Distribution Amount For any Distribution Date, with respect to the Class R-1 Residual Interest, any portion of the REMIC I Available Distribution Amount for Loan Group 1 and Loan Group 2 remaining after all distributions of the REMIC I Available Distribution Amount pursuant to clauses (a), (b) and (c) (other than the last subclause of clause (c)) of the definition of “REMIC I Distribution Amount”. For any Distribution Date, with respect to the Class R-2 Residual Interest, any portion of the REMIC II Available Distribution Amount remaining after all distributions of the REMIC II Available Distribution Amount pursuant to the definition of “REMIC II Distribution Amount” (other than the distribution pursuant to the last clause thereof). For any Distribution Date, with respect to the Class R-3 Residual Interest and for Loan Group 1 and Loan Group 2, any portion of the REMIC III Available Distribution Amount for Loan Group 1 and Loan Group 2, respectively, remaining after all distributions of such REMIC III Available Distribution Amount pursuant to clauses (I)(A), (I)(B), (I)(C), (II)(A) and (II)(B), as applicable, of the definition of “REMIC III Distribution Amount” (other than the distributions pursuant to the last subclause of clauses (I)(C), (II)(A) and (II)(B)). Upon termination of the obligations created by this Agreement and liquidation of REMIC I, REMIC II and REMIC III, the amounts which remain on deposit in the Certificate Account after payment to the Holders of the REMIC III Regular Interests of the amounts set forth in Section 9.01 of this Agreement, and subject to the conditions set forth therein, shall be distributed to the Class R-1, Class R-2 and Class R-3 Residual Interests in accordance with the preceding sentences of this definition as if the date of such distribution were a Distribution Date.

  • Class B Distribution Amount Any of the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 or Class B-6 Distribution Amounts.

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.