Class X Interest Amount means, with respect to any Distribution Date and the related Interest Accrual Period, interest equal to the product of (i) one-twelfth of a per annum rate equal to the weighted average of the Class X Strip Rates for the REMIC III Regular Interests (other than the Class X Certificates), weighted on the basis of the respective Certificate Balances of such Classes, and (ii) the Class X Notional Amount for such Distribution Date.
Class X Interest Amount means, for each Note Payment Date:
Class X Interest Amount. With respect to any Distribution Date and the related Interest Accrual Period, interest equal to the product of (i) one-twelfth of the Pass-Through Rate for the Class X Certificates for such Distribution Date and (ii) the Class X Notional Amount for such Distribution Date.
Examples of Class X Interest Amount in a sentence
The Class X Notes will be entitled to receive the Class X Interest Amount.
With respect to each Payment Date to and including the Payment Date falling in September 2013, the Class X Senior Notes shall, unless redeemed in full prior to such Payment Date, provide for an amount of interest for the related Interest Accrual Period calculated by the Calculation Agent on the relevant Interest Determination Date in accordance with this Condition (the "Class X Interest Amount").
The Class X Notes will, subject to the occurrence of a Class X Interest Diversion Trigger Event, be entitled to receive the Class X Interest Amount.
Subordination of junior ranking Notes, except that prior to the occurrence of a Loan Failure Event or the service of a Note Acceleration Notice, principal is applied pro rata and following the service of a Note Acceleration Notice, payment of the Class X Interest Amount is subordinated to payment of interest and principal with respect to the Class A Notes and the Class B Notes.
See Condition 5.4(d) (Rates of Interest) for further details, where such Class X Interest Amount accrues for each Note Interest Period.
More Definitions of Class X Interest Amount
Class X Interest Amount means, with respect to any Interest Period, the greater of (a) zero and (b) the excess (if any) of the Expected Available Interest Collections for such Interest Period over the amounts due and payable by the Issuer in accordance with items (i) to (xiv) inclusive (excluding item (vii)(b)) of the Issuer Revenue Pre- Enforcement Priority of Payments for such Interest Period.
Class X Interest Amount means, with respect to any Distribution Date and the related Interest Accrual Period, the sum of (A) interest equal to the product of (i) one-twelfth of a per annum rate equal to the weighted average of the Class X Strip Rates for the Class A-1 Certificates, Class A-2 Certificates, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class I Certificates, Class J Certificates, Class K Certificates, Class L Certificates, and Class M Certificates, weighted on the basis of the respective Certificate Balances of such Classes of Certificates, and (ii) the Class X Notional Amount for such Distribution Date and (B) the Class X-1 Interest Amount for such Distribution Date, but such sum not to exceed the excess, if any, of (x) the sum of (I) interest equal to the product of (a) the aggregate Certificate Balance of the Certificates and (b) one twelfth of a per annum rate equal to the weighted average of the REMIC I Net Mortgage Rates (taking into account any reductions in the Mortgage Rates of the Interest Reserve Loans resulting from the modification of such Mortgage Loans or otherwise following the Cut-Off Date) and (II) the Class X-1 Interest Amount over (y) the aggregate Accrued Certificate Interest for such Distribution Date on the Class A-1 Certificates, Class A-2 Certificates, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class I Certificates, Class J Certificates, Class K Certificates, Class L Certificates, and Class M Certificates.
Class X Interest Amount. ’ means, with respect to each Payment Date to and including the Payment Date falling in February 2013, unless redeemed in full prior to such Payment Date, an amount of interest in respect of the Class X Note for the related Interest Period calculated by the Calculation Agent on the relevant Interest Determination Date in accordance with Condition 5(e)(ii);
Class X Interest Amount means, with respect to any Interest Period, the greater of (a) zero and (b) A - B, where:
Class X Interest Amount means, with respect to any Note Interest Period, the greater of (a) zero and (b) the amount (if any) by which the Expected Available Revenue Funds for such Note Interest Period exceeds the amounts due and payable by the Issuer in accordance with 1) items (a) to (n) inclusive (excluding item (g)(ii) and repayment of principal under the Liquidity Facility under item (d) and any interest deferred on the Class B Notes, the Class C Notes or the Class D Notes pursuant to Condition 18 and any interest accrued on such deferred interest of the Issuer Pre-Note Enforcement Revenue Priority of Payments or 2) items (i) to (xvii) (excluding item (vii)(B) and repayment of principal under the Liquidity Facility under item (iii)) of the Issuer Post-Note Enforcement Priority of Payments, as applicable, for such Note Interest Period.
Class X Interest Amount means, for each Note Payment Date, the sum of the following:
Class X Interest Amount means for any Note Payment Date the Interest Available Funds (other than Liquidity Drawings) received on a Loan during the related Collection Period (excluding Default Interest), (plus following the date on which the Notes (other than the Class X Notes) are redeemed in full, any balance credited to the Default Interest Ledger), minus the aggregate of: