Class X Distribution Amount definition

Class X Distribution Amount. With respect to any Distribution Date and the Class X Certificates, the sum of (i) the Current Interest and Carryforward Interest and (ii) any Overcollateralization Release Amount for such Distribution Date remaining after payments pursuant to items 1 through 25 of Section 5.04(iii); provided, however that on and after the Distribution Date on which the Certificate Principal Balances of the Publicly Offered Certificates and the Class B Certificates have been reduced to zero, the Class X Distribution Amount shall include the Overcollateralization Amount.

Class X Distribution Amount. With respect to any Distribution Date the sum of (i) the Overcollateralization Release Amount for that Distribution Date, if any, and (ii) the product of (x) a notional amount, equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to Monthly Payments of principal due on such date and reduced by Principal Prepayments received and distributed in the month prior that Distribution Date), and (y) the Pass-Through Rate for such Class for such Distribution Date as set forth in footnote (2) to the Certificates table under Section 1.03 herein, less (iii) distributions made pursuant to Section 4.01(a)(3)(a)(i) through (xxxviii) on such Distribution Date.

Class X Distribution Amount. With respect to any Distribution Date the sum of (i) the Overcollateralization Release Amount for that Distribution Date, if any, and (ii) the product of (x) a notional amount, equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month of such Distribution Date (after giving effect to Monthly Payments of principal due on such date), and (y) the Pass-Through Rate for such Class for such Distribution Date as set forth in footnote (4) to “REMIC V” under Section 1.03 herein, less (iii) distributions made pursuant to Section 4.01(a)(3)(i)-(xx) on such Distribution Date.

Examples of Class X Distribution Amount in a sentence

• Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class X Certificates and payable as part of the Class X Distribution Amount for the related Distribution Date.

• The Issuer will pay principal and interest on the Notes (and, in respect of the Class X Note, the Class X Distribution Amount) in Euro.

• As a result, investors may receive less interest or principal (or Class X Distribution Amount) than expected, or no interest or principal (or Class X Distribution Amount) at all.The Issuer cannot predict if and when an appreciation in the value of the Investor’s Currency relative to the Euro will occur and whether, if and when they do occur, how it would affect the Investor’s Currency or if the authorities with jurisdiction over the Euro or the Investor’s Currency will impose or modify exchange controls.

• No assurance can be given that law, tax rules, rates, procedures or administration practice will not change after the date of this Prospectus or that such change will not adversely impact the structure of the Transaction and the treatment of the Notes including the expected payments of interest and repayment of principal (and, in respect of the Class X Note, the Class X Distribution Amount) in respect of the Notes.

• Any payments received by the Trustee under the Cap Contract shall be deposited into the Basis Risk Shortfall Reserve Fund for the benefit of the Class II-A-2 Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class X Certificates and payable as part of the Class X Distribution Amount for the related Distribution Date.

More Definitions of Class X Distribution Amount

Class X Distribution Amount. With respect to any Distribution Date, the sum of (i) the Overcollateralization Reduction Amount and (ii) the product of the notional principal balance of the Class X Certificate and the Pass-Through Rate of the Class X Certificate each as described in footnotes (7) and (8), respectively, of Section 2.07(b) hereof for the current and for all prior Distribution Dates less amounts distributed to the Class X Certificates on prior Distribution Dates pursuant to Sections 6.05(c)(viii) and (xii) hereof.

Class X Distribution Amount. With respect to any Distribution Date, the lesser of (i) the aggregate funds, if any, remaining after the making of all applications, transfers and disbursements described in Section 6.05(a)(i) through 6.05(c)(x) hereof and (ii) the amounts described in footnotes (10) and (11) of Section 2.07(c) hereof for the current and for all prior Distribution Dates less amounts distributed to the Class X Certificates on prior Distribution Dates pursuant to Sections 6.05(c)(viii) and (xi) hereof.

Class X Distribution Amount. With respect to any Distribution Date the sum of (i) the Overcollateralization Reduction Amount for that Distribution Date, if any, remaining after the making of all applications, transfers and disbursements described in Section 4.01(a)(3)(i)-(xiv) and (ii) the product of (i) a notional amount, equal to the aggregate Stated Principal Balance of the Mortgage Loans as of that Distribution Date, and (ii) the Pass-Through Rate for such Class for such Distribution Date as set forth in footnote (3) to "REMIC V" under Section 1.03 herein.

Class X Distribution Amount means the amount to be distributed to the Class X Certificates pursuant to Section 7.06(b)(vi).

Class X Distribution Amount means, with respect to any Distribution Date, the sum of (a) (i) the product of the notional balance of the Class X Certificates and its Pass-Through Rate as provided in the Preliminary Statement plus (ii) any accrued but unpaid interest from prior Distribution Dates and, (b) the amount, if any, of any Overcollateralization Release Amount for such Distribution Date.

Class X Distribution Amount. With respect to any Distribution Date the lesser of (i) the Net Monthly Excess Cashflow, if any, remaining after the making of all applications, transfers and disbursements described in Section 4.01(a)(3)(i)-(xiv) and (ii) the excess of the (1) sum of (a) the amounts described in footnotes [(5) and (7) or (8)], whichever is applicable of Section 1.03(c) hereof for the current and all prior Distribution Dates and (b) the Class X Certificate's initial principal balance over (2) any amounts which have previously been distributed to the Class X Certificates on prior Distribution Dates.

Class X Distribution Amount. With respect to any Distribution Date, the sum of the amounts described in footnotes (6) and (7) of Section 5.05(e) hereof for the current and for all prior Distribution Dates less amounts distributed to the Class X Certificates on prior Distribution Dates pursuant to Sections 6.01(a)(xiv) and (xv) hereof. Class X Notional Balance: Initially, $288,156,229, and for each Distribution Date subsequent to the first Distribution Date, the Current Pool Principal Balance.