Interest Arrearage definition

Interest Arrearage. For any Payment Date, an amount equal to the excess, if any, of (a) the Interest Payment for such Payment Date and any outstanding Interest Arrearage from the immediately preceding Payment Date plus, to the extent permitted by law, interest on such amounts at the Interest Rate from the immediately preceding Payment Date through (but not including) the current Payment Date minus (b) the amount of Interest Payment and Interest Arrearage actually distributed to the Noteholders on such Payment Date.
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Interest Arrearage means, with respect to any Payment Date, any Monthly Interest and Interest Arrearage due on the immediately preceding Payment Date, but remaining unpaid as of such Payment Date, together with interest thereon at the Interest Rate for such current Payment Date.
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Interest Arrearage for each Distribution Date means the aggregate of the sum of, for each Purchaser and for each Certificate Funding Period that ends within the related Interest Accrual Period, the interest on the interest accrued but not paid to such Purchaser at the end of such Certificate Funding Period on such Purchaser's Purchase Percentage of the Purchase Price, at the Funding Rate applicable on each day remaining in such Interest Accrual Period, together with interest on the Interest Arrearage from the end of the prior Interest Accrual Period through the date such interest is paid at the Funding Rate applicable on each day in such period.
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Examples of Interest Arrearage in a sentence

  • Upon receipt by Omega of the $3,000,000, the amount of any claim which Omega may assert on the CNP Note shall be reduced by the amount by which the claim would have been reduced if the $3,000,000 were applied first against the Interest Arrearage, second against the applicable Prepayment Premium (as defined in the CNP Note), and third against the CNP Principal.

  • The Monthly Interest Amount and any Interest Arrearage for any Payment Date through and including the Transition Date shall be due and payable on such Payment Date as described in Section 6.1(a).

  • The Monthly Interest and any Interest Arrearage for each Payment Date after the Transition Date shall be due and payable on such Payment Date after the Transition Date as described in Section 6.1(b).

  • Subject to the Intercreditor Agreement and Section 14.5, the Accrued Interest and any Interest Arrearage with respect to the Term Loan shall be due and payable, in arrears, on each Payment Date after the Conversion Date and at the Maturity Date.

  • The Servicer will not be entitled to retain any Prepayment Premiums, Interest Arrearage Amounts or Pre-Existing Preservation Expense Amounts.

  • To the extent that the Note Interest Payment which is due and payable on any Payment Date is not paid in full on such date, such Note Interest Arrearage shall be due and payable on the immediately succeeding Payment Date in accordance with the priority of payments set forth in Section 302 hereof, and any such non-payment on any Payment Date of the Note Interest Payment shall constitute an Event of Default pursuant to the provisions of Section 801(1) hereof.

  • As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and exclusive of any entitlement to Interest Arrearage Amounts) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each a “REMIC” or, in the alternative, the Subsidiary REMIC and the Master REMIC).

  • Subject to the Intercreditor Agreement and Section 14.5, the Accrued Interest and any Interest Arrearage shall be due and payable in arrears on each Payment Date prior to the Conversion Date with respect to the Revolving Loans.

  • The Subsidiary REMIC shall hold as its assets the property of the Trust Fund other than the Lower Tier Interests in the Subsidiary REMIC, the Basis Risk Reserve Fund and any entitlement to Interest Arrearage Amounts.

  • The Issuer will pay interest on this Note at the Note Interest Rate and the Note Interest Arrearage on each Payment Date and Redemption Date, until the principal of this Note is paid or made available for payment, on the principal amount of this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date) or, with respect to the first Payment Date, on the Funding Date (as such term is defined in the Note Purchase Agreement).


More Definitions of Interest Arrearage

Interest Arrearage means, with respect to any Payment Date, any Accrued Interest and previously accumulated but unpaid Interest Arrearage due on the immediately preceding Payment Date, but remaining unpaid as of such Payment Date, together with interest thereon at the Interest Rate.
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Interest Arrearage. With respect to any Note of any Class on any Payment Date, an amount equal to the excess, if any, of (a) the Interest Payment for such Note on such Payment Date and any outstanding Interest Arrearage for such Note from the immediately preceding Payment Date plus, to the extent permitted by law, interest on such amounts at the Interest Rate for such Class from the immediately preceding Payment Date through (but not including) the current Payment Date minus (b) the amount of Interest Payment and Interest Arrearage actually distributed to the Lender with respect to such Note on such Payment Date. Interest Expense: For any period, the aggregate amount of interest expense as shown for such period on the income statement of the Borrower, determined in accordance with GAAP.
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Related to Interest Arrearage

  • Arrearage means the total amount of unpaid support obligations;

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Unpaid Interest Amounts As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;

  • Common Unit Arrearage means, with respect to any Common Unit, whenever issued, as to any Quarter within the Subordination Period, the excess, if any, of (a) the Minimum Quarterly Distribution with respect to a Common Unit in respect of such Quarter over (b) the sum of all Available Cash distributed with respect to a Common Unit in respect of such Quarter pursuant to Section 6.4(a)(i).

  • Note Interest for any Class of Notes and Payment Date means interest for the related Interest Period at the applicable Note Rate on the related Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).

  • Class Unpaid Interest Amounts As to any Distribution Date and Class of interest bearing Certificates, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount distributed on such Class on prior Distribution Dates pursuant to clause (ii) of the definition of Class Optimal Interest Distribution Amount.

  • Daily Interest Amount means an amount calculated by multiplying the Daily Loan Balance of a Loan by the associated Daily Interest Rate on that Loan.

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class B Interest Accrual Amount With respect to any Distribution Date, the sum of the Interest Accrual Amounts for the Classes of Class B Certificates with respect to such Distribution Date.

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class B Unpaid Interest Shortfall Any of the Class B-1 Unpaid Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid Interest Shortfall or Class B-6 Unpaid Interest Shortfall.

  • Class B-4 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-4 Certificates on prior Distribution Dates pursuant to Paragraph fifteenth of Section 4.01(a).

  • Current Interest With respect to each Class of Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount or Class Notional Amount, as applicable, of such Class prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts prior to such Distribution Date.

  • Class B-6 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-first of Section 4.01(a).

  • Class B-5 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-5 Certificates on prior Distribution Dates pursuant to Paragraph eighteenth of Section 4.01(a).

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Distributable Certificate Interest means, with respect to any Class of REMIC III Regular Certificates for any Distribution Date, the sum of (A) Accrued Certificate Interest in respect of such Class for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such Class pursuant to Section 6.7, (2) with respect to each Class of the Class B, Class C, Class D and Class E Certificates, any Trust Advisor Expenses allocated on such Distribution Date to such Class in reduction of the Distributable Certificate Interest thereon pursuant to Section 6.11, and (3) with respect to each Class of the Class C, Class D and Class E Certificates, any amounts reimbursable in accordance with Section 6.11(c), out of amounts otherwise distributable as interest in respect of such Class, to any more senior Class of Certificates on such Distribution Date in respect of Trust Advisor Expenses allocated on prior Distribution Dates to such more senior Class of Certificates pursuant to Section 6.11, plus (B) if such Distribution Date is subsequent to the initial Distribution Date, any Unpaid Interest in respect of such Class for such Distribution Date, plus (C) in the case of a Class of Principal Balance Certificates, if the Certificate Balances of such Principal Balance Certificates are increased on such Distribution Date in accordance with clause (b) of the definition of “Certificate Balance”, the total amount of interest at the applicable Pass-Through Rate that would have accrued and been distributable with respect to the amount by which the related Aggregate Certificate Balance was so increased, if such Aggregate Certificate Balance had not been reduced by that amount in connection with the allocation of Collateral Support Deficits in the first place and assuming that the reinstatement of Certificate Balance is in reverse chronological order of the original reductions therein, plus (D) in the case of each Class of the Class B, Class C, Class D and Class E Certificates, the amount of any Actual Recoveries of Trust Advisor Expenses allocated in accordance with Section 6.11(c) to such Class of Certificates to increase the Distributable Certificate Interest thereof for such Distribution Date, plus (E) in the case of each Class of the Class B, Class C and Class D Certificates, any amounts reimbursed in accordance with Section 6.11(c) to such Class of Certificates by any more junior Class of Certificates on such Distribution Date in respect of Trust Advisor Expenses allocated on prior Distribution Dates to the subject Class of Certificates pursuant to Section 6.11. Any increase in the Distributable Certificate Interest with respect to any Class of Principal Balance Certificates for any Distribution Date pursuant to clause (C) of the prior sentence shall result in a corresponding reduction of interest payable on unreimbursed allocations of Collateral Support Deficits in respect of such Class of Principal Balance Certificates.

  • Cumulative Common Unit Arrearage means, with respect to any Common Unit, whenever issued, and as of the end of any Quarter, the excess, if any, of (a) the sum resulting from adding together the Common Unit Arrearage as to an Initial Common Unit for each of the Quarters within the Subordination Period ending on or before the last day of such Quarter over (b) the sum of any distributions theretofore made pursuant to Section 6.4(a)(ii) and the second sentence of Section 6.5 with respect to an Initial Common Unit (including any distributions to be made in respect of the last of such Quarters).

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Class A Interest Accrual Amount As to any Distribution Date, the sum of the Interest Accrual Amounts for the Class A Certificates with respect to such Distribution Date.