Collateral Minimum Monthly Interest definition

Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

Collateral Minimum Monthly Interest means the monthly interest distributable in respect of the Collateral Interest Amount as calculated in accordance with subsection 4.06(c).

Collateral Minimum Monthly Interest means the

Examples of Collateral Minimum Monthly Interest in a sentence

• Collateral Minimum Monthly Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.

• The amount of distribution in respect of any accrued and unpaid Collateral Minimum Monthly Interest $ 0.000000 C.

• The amount of distribution in respect of any accrued andunpaid Collateral Minimum Monthly Interest $ 0.000000 C.

• Applied to any remaining Collateral Minimum Monthly Interest$ 446,878.2514A.

• Applied to any remaining Collateral Minimum Monthly Interest$ 198,030.9914A.

• Applied to any remaining Collateral Minimum Monthly Interest$ 166,965.9914A.

• Applied to any remaining Collateral Minimum Monthly Interest $ 446,878.25 14A.

• On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the “Collateral Interest Shortfall”) equal to(x) the aggregate Collateral Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Minimum Monthly Interest on such Distribution Date.

• Applied to any remaining Collateral Minimum Monthly Interest $ 166,965.9914A.

• The amount of distribution in respect of Collateral Minimum Monthly Interest $ 7.33333312.

More Definitions of Collateral Minimum Monthly Interest

Collateral Minimum Monthly Interest shall have the meaning specified in SECTION 4.02(c).

Collateral Minimum Monthly Interest distributable from the Collection Account with respect to the Collateral Invested Amount on any Distribution Date shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360 and (B) the Collateral Minimum Interest Rate in effect with respect to the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date, and (ii) the Collateral Initial Invested Amount less the aggregate amount of principal payments distributed to the Collateral Interest Holder on all prior Distribution Dates. On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Collateral Interest Shortfall") equal to (x) the aggregate Collateral Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Minimum Monthly Interest on such Distribution Date. If the Collateral Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Collateral Interest Shortfall is fully paid, an additional amount ("Collateral Additional Interest") shall be payable as provided herein with respect to the Collateral Invested Amount equal to the product of (i) (A) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date and the denominator of which is 360 and (B) the Collateral Minimum Interest Rate in effect during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, and (ii) such Collateral Interest Shortfall (or the portion thereof which has not been paid to the Collateral Interest Holder). Notwithstanding anything to the contrary herein, Collateral Additional Interest shall be payable or distributed to the Collateral Interest Holder only to the extent permitted by applicable law.

Collateral Minimum Monthly Interest means, for any Distribution Date, an amount equal to one-twelfth of the product of (i) the Collateral Minimum Interest Rate and (ii) the outstanding principal balance of the Collateral Interest as of the preceding Record Date; provided, however, that, for the first Distribution Date, Collateral Minimum Monthly Interest shall be equal to