Class SES Compensating Interest definition

Class SES Compensating Interest. With respect to each Distribution Date, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class SES Components (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date less the Servicer Compensating Interest for such Distribution Date and (c) one-twelfth of 0.25% of the aggregate Pool Stated Principal Balance of all Loan Groups less the Servicer Compensating Interest for such Distribution Date.
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Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES Component in the case of Loan Group 1, the Class 2-SES and Class 4-SES Components in the case of the Crossed Loan Groups or the Class 3-SES Component in the case of Loan Group 3 (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) Loan Group 1 and Loan Group 3, in the case of the Class 1-SES and Class 3-SES Component, respectively, and (ii) the Crossed Loan Groups in the case of the Class 2-SES and Class 4-SES Components, less the Servicer Compensating Interest for such Distribution Date and the Related Loan Group or Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of such Loan Group or Loan Groups less the Servicer Compensating Interest for such Distribution Date and Loan Group or Loan Groups.
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Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES, Class 2-SES and Class 3-SES Components in the case of the 30 Year Crossed Loan Groups or the Class 4-SES and Class 5-SES Components in the case of the 15 Year Crossed Loan Groups (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) the 30 Year Crossed Loan Groups in the case of the Class 1-SES, Class 2-SES and Class 3-SES Components and (ii) the 15 Year Crossed Loan Groups in the case of the Class 4-SES and Class 5-SES Components, less the Servicer Compensating Interest for such Distribution Date and the 30 Year Crossed Loan Groups or 15 Year Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the aggregate Pool Stated Principal Balance of the 30 Year Crossed Loan Groups or 15 Year Crossed Loan Groups, respectively, less the Servicer Compensating Interest for such Distribution Date and Loan Groups.
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Examples of Class SES Compensating Interest in a sentence

  • Notwithstanding the foregoing, the distribution to the Holders of the Class SES Certificates shall be reduced by the amount of the Class SES Compensating Interest for such Distribution Date.

  • Amounts distributable on this Certificate will be subject to reduction for Class SES Compensating Interest to the extent described in the Pooling and Servicing Agreement.

  • Notwithstanding the foregoing, the distribution to the Holders of the Class SES Certificates shall be reduced by the amount of Class SES Compensating Interest for such Distribution Date.


More Definitions of Class SES Compensating Interest

Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES Component in the case of Loan Group 1, the Class 2-SES and Class 4-SES Components in the case of the Crossed Loan Groups, the Class 3-SES Component in the case of Loan Group 3 or the Class 5-SES Component in the case of Loan Group 5 (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) Loan Group 1, Loan Group 3 and Loan Group 5, in the case of the Class 1-SES, Class 3-SES and Class 5-SES Component, respectively, and (ii) the Crossed Loan Groups in the case of the Class 2-SES and Class 4-SES Components, less the Servicer Compensating Interest for such Distribution Date and the Related Loan Group or Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of such Loan Group or Loan Groups less the Servicer Compensating Interest for such Distribution Date and Loan Group or Loan Groups.
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Related to Class SES Compensating Interest

  • Compensating Interest As defined in Section 3.24 hereof.

  • Compensating Interest Payments Any payment required to be made by the Master Servicer pursuant to Section 3.13 of this Agreement to cover Prepayment Interest Shortfalls.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • qualifying interest means the aggregate interest, discount or original issue discount receivable by a resident individual in any year of income

  • REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest AA minus the Marker Rate, divided by (b) 12.

  • Participating Interest is defined in Section 1.2(d) hereof.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • 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

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Compensating Interest Payment As defined in Section 6.06.

  • Loan Group 1 Principal Distribution Amount With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 1.

  • REMIC I Principal Loss Allocation Amount With respect to any Distribution Date, an amount equal to the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9 and REMIC I Regular Interest I-LTM10 and the denominator of which is the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10 and REMIC I Regular Interest I-LTZZ.

  • REMIC II Principal Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10, REMIC II Regular Interest M-11 and the denominator of which is the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10, REMIC II Regular Interest M-11 and REMIC II Regular Interest ZZ.

  • Loan Group II Cap With respect to the Group II Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group II Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Prepayment Distribution Percentage With respect to any Distribution Date and each Class of Subordinate Certificates, under the applicable circumstances set forth below, the respective percentages set forth below:

  • REMIC 2 Principal Loss Allocation Amount With respect to any Distribution Date and the mortgage loans, an amount equal to (a) the product of (i) the Aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8 and REMIC 2 Regular Interest B, and the denominator of which is the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ.

  • Uncompensated Interest Shortfall With respect to a Loan Group, for any Distribution Date, the sum of (i) the aggregate Relief Act Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group, (ii) aggregate Curtailment Shortfall for such Distribution Date with respect to the Mortgage Loans in such Loan Group and (iii) the excess, if any, of (a) aggregate Uncollected Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group over (b) Compensating Interest for such Distribution Date with respect to the Mortgage Loans in such Loan Group. Uncompensated Interest Shortfall for Loan Group I shall be allocated to the Group I-L Regular Interests and the portions of the Group C-B-L Regular Interests that derive their Interest Distribution Amounts from the Group I Loans, pro rata according to the amount of interest accrued but unpaid on each such Class or portion thereof, in reduction thereof. Uncompensated Interest Shortfall for Loan Group II shall be allocated to the Group II-L Regular Interests and the portions of the Group C-B-L Regular Interests that derive their Interest Distribution Amounts from the Group II Loans, pro rata according to the amount of interest accrued but unpaid on each such Class or portion thereof, in reduction thereof. Uncompensated Interest Shortfall for Loan Group I shall be allocated to the Class I-X-M, Class C-Y-1 and Class C-Z-1 Regular Interests, pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof. Uncompensated Interest Shortfall for Loan Group II shall be allocated to the Class II-X-M, Class C-Y-2 and Class C-Z-2 Regular Interests, pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof.

  • 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:

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.