Distributable Component Interest definition

Distributable Component Interest means, with respect to any REMIC III Component of either Class of Interest-Only Certificates for any Distribution Date, subject to Section 4.05(b), an amount of interest equal to (a) the amount of Accrued Component Interest in respect of such REMIC III Component for the related Interest Accrual Period, reduced (to not less than zero) by (b) the product of (i) the entire portion of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date that was allocated to such Class of Interest-Only Certificates in accordance with the definition of "Distributable Certificate Interest", multiplied by (ii) a fraction, the numerator of which is the amount of any Accrued Component Interest in respect of such REMIC III Component for the related Interest Accrual Period, and the denominator of which is the amount of the Accrued Certificate Interest in respect of such Class of Interest-Only Certificates for the related Interest Accrual Period.

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Distributable Component Interest means, with respect to any Class X REMIC III Component for any Distribution Date, subject to Section 4.05(b), an amount of interest equal to (a) the amount of Accrued Component Interest in respect of such Class X REMIC III Component for the related Interest Accrual Period, reduced (to not less than zero) by (b) the product of (i) the entire portion of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date that was allocated to the Class X Certificates in accordance with the definition of "Distributable Certificate Interest," multiplied by (ii) a fraction, the numerator of which is the amount of any Accrued Component Interest in respect of such Class X REMIC III Component for the related Interest Accrual Period, and the denominator of which is the amount of the Accrued Certificate Interest in respect of the Class X Certificates for the related Interest Accrual Period.

Distributable Component Interest. With respect to any Class X Component for any Distribution Date, the Accrued Component Interest in respect of such Class X Component for such Distribution Date, reduced (to not less than zero) by the product of (a) the entire portion of any Net Aggregate Prepayment Interest Shortfall for such Distribution Date that was allocated to the related Class of the Class X Certificates in accordance with Section 4.04(e), multiplied by (b) a fraction, the numerator of which is the amount of Accrued Component Interest in respect of such Class X Component for such Distribution Date, and the denominator of which is the aggregate amount of Accrued Certificate Interest in respect of the related Class of the Class X Certificates for such Distribution Date.

Examples of Distributable Component Interest in a sentence

All distributions of interest made in respect of the Class X Certificates on any Distribution Date as provided above shall be deemed to have been made in respect of the various Components of the Class X Certificates, pro rata in accordance with the respective amounts of Distributable Component Interest in respect of such Components of the Class X Certificates for such Distribution Date and, to the extent not previously deemed paid pursuant to this paragraph, for all prior Distribution Dates, if any.
All distributions of interest made in respect of the Class X Certificates on any Distribution Date as provided above shall be deemed to have been made in respect of the various Components of the Class X Certificates, PRO RATA in accordance with the respective amounts of Distributable Component Interest in respect of such Components of the Class X Certificates for such Distribution Date and, to the extent not previously deemed paid pursuant to this paragraph, for all prior Distribution Dates, if any.
Notwithstanding the foregoing, the portion of the Accrued Component Interest in respect of any Class S REMIC III Regular Interest for any Interest Accrual Period that may be distributable to the Holders of the Class S Certificates pursuant to Section 4.01(a) shall not exceed the Distributable Component Interest in respect of such Class S REMIC III Regular Interest for the related Distribution Date.

More Definitions of Distributable Component Interest

Distributable Component Interest means, with respect to any Component of the Class X Certificates for any Distribution Date, an amount of interest equal to the amount of Accrued Component Interest in respect of such Component for the related Interest Accrual Period, reduced (to not less than zero) by the product of (i) the Net Aggregate Prepayment Interest Shortfall for such Distribution Date, multiplied by (ii) a fraction, the numerator of which is the amount of any Accrued Component Interest in respect of such Component for the related Interest Accrual Period, and the denominator of which is the amount of the Accrued Certificate Interest in respect of all the Classes of Regular Interest Certificates for the related Interest Accrual Period.

Distributable Component Interest. With respect to any Component of the Class X Certificates for any Distribution Date, an amount of interest equal to the amount of Accrued Component Interest in respect of such Component for the related Interest Accrual Period, reduced (to not less than zero) by the product of (i) the entire portion, if any, of the Net Aggregate Prepayment Interest Shortfall for such Distribution Date that was allocated to the Class X Certificates in accordance with the definition of "Distributable Certificate Interest", multiplied by (ii) a fraction, the numerator of which is the amount of any Accrued Component Interest in respect of such Component for the related Interest Accrual Period, and the denominator of which is the amount of the Accrued Certificate Interest in respect of the Class X Certificates for the related Interest Accrual Period.

Distributable Component Interest. With respect to any Class S REMIC III Regular Interest, for any Distribution Date, an amount of interest equal to all Accrued Component Interest in respect of such Class S REMIC III Regular Interest for the related Interest Accrual Period, reduced (to not less than zero) by the product of (i) any Net Aggregate Prepayment Interest Shortfall for such Distribution Date, multiplied by (ii) a fraction, expressed as a decimal, the numerator of which is the Accrued Component Interest in respect of such Class S REMIC III Regular Interest for the related Interest Accrual Period, and the denominator of which is the aggregate Accrued Certificate Interest in respect of all the Regular Interest Certificates for the related Interest Accrual Period.