Group II Maximum Uncertificated Accrued Interest Deferral Amount definition

Group II Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC III Pass-Through Rate applicable to REMIC III Regular Interest II-ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC III Regular Interest II-ZZ minus the REMIC III Group II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC III Group II Regular Interests (other than REMIC III Regular Interests II-AA, II-ZZ, II-IO, II-P, II-1-Sub, II-1-Grp, II-2-Sub, II-2-Grp and II-XX), with the rate on each such REMIC III Group II Regular Interest subject to a cap equal to the lesser of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate and (y) the Net Rate Cap for the REMIC IV Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC III Group II Regular Interest (other than REMIC III Regular Interests II-AA, II-ZZ, II-IO, II-P, II-1-Sub, II-1-Grp, II-2-Sub, II-2-Grp and II-XX) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
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Group II Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2A Pass Through Rate applicable to REMIC 2A Regular Interest LT-ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2A Regular Interest LT-ZZ minus the REMIC 2A Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on each REMIC 2A Regular Interest (other than REMIC 2A Regular Interest LT-ZZ, and REMIC 2A Regular Interest LT-P), with the rate on each such REMIC 2A Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation.
Sample 1
Group II Maximum Uncertificated Accrued Interest Deferral Amount. With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC III Pass-Through Rate applicable to REMIC III Regular Interest II-ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC III Regular Interest II-ZZ minus the REMIC III Group II Overcollateralized Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC III Group II Regular Interests (other than REMIC III Regular Interests II-AA, II-ZZ, II-IO and II-P), with the rate on each such REMIC III Group II Regular Interest subject to a cap equal to the lesser of
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More Definitions of Group II Maximum Uncertificated Accrued Interest Deferral Amount

Group II Maximum Uncertificated Accrued Interest Deferral Amount each REMIC III Regular Interest for which such Certificate is the Corresponding Certificate, and any Distribution Date, a rate per annum equal to the least of (i) One-Month LIBOR plus the related Certificate Margin, (ii) 11.00% per annum and (iii) the Group I Net WAC Cap Rate or Group II Net WAC Cap Rate, as applicable, for such Distribution Date.
Sample 1

Related to Group II Maximum Uncertificated Accrued Interest Deferral Amount

  • Uncertificated Accrued Interest With respect to each REMIC Regular Interest on each Distribution Date, an amount equal to one month’s interest at the related Uncertificated Pass-Through Rate on the related Uncertificated Principal Balance or related Uncertificated Notional Amount of such REMIC Regular Interest. In each case, Uncertificated Accrued Interest will be reduced by any Prepayment Interest Shortfalls and Relief Act Interest Shortfalls (allocated to such REMIC Regular Interests as set forth in Section 1.02).