Interest Coverage Addition. As to any Payment Date, an amount, not less than $0.00, equal to the sum of (x) interest accrued for the related Interest Period on an amount equal to (i) the Original Pre-Funded Amount minus (ii) the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred prior to the related Interest Period, calculated at a rate equal to the Note Interest Rate and (y) the Note Insurance Premium accrued on the excess, if any, of the Original Pre-Funded Amount over the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred prior to the related Interest Period.
Interest Coverage Addition. With respect to Loan Group I and Loan Group II, as to any Distribution Date, an amount equal to the lesser of
Interest Coverage Addition. As to any Payment Date during the Funding Period, an amount, not less than $0.00, equal to the remainder of (x) the product of (A) the Original Pre- Funded Amount and (B) a rate equal to the sum of (i) the Bond Interest Rate for the related Interest Period, (ii) the rate used to calculate the Bond Insurance Premium and (iii) the rate used to calculate the Indenture Trustee Fee (all rates calculated as one-twelfth of the annual rate) minus (y) interest collected on all Subsequent Mortgage Loans during the related Interest Period (and after the related Subsequent Cut-off Date with respect to any Subsequent Mortgage Loans transferred during such Interest Period).
Examples of Interest Coverage Addition in a sentence
On the Business Day prior to each Payment Date during the Funding Period, the Bond Administrator, on behalf of the Indenture Trustee, shall withdraw from the Interest Coverage Account and transfer to the Indenture Trustee for deposit into the Payment Account established by the Indenture Trustee the applicable Interest Coverage Addition with respect to each Group.
More Definitions of Interest Coverage Addition
Interest Coverage Addition. With respect to the related Sub-Pool and as to any Remittance Date, the sum of the amounts described in Sections 6.13(b) and 6.13(c).
Interest Coverage Addition. As to each Class of Class A Bonds and any -------------------------- Payment Date during the Funding Period, an amount, not less than $0.00, equal to the remainder of (x) the product of (A) the Original Pre-Funded Amount with respect to such Class and (B) a rate equal to the sum of (i) the related Bond Interest Rate for the related Interest Period, (ii) the rate used to calculate the Bond Insurance Premium and (iii) the rate used to calculate the Bond Administrator Fee (all rates calculated as one-twelfth of the annual rate) minus (y) interest collected on all Subsequent Mortgage Loans during the related Interest Period (and after the related Subsequent Cut-off Date with respect to any Subsequent Mortgage Loans transferred during such Interest Period).
Interest Coverage Addition. With respect to the related Group and as to any Payment Date, the sum of the amounts described in Sections 6.13(b), 6.13(c) and 6.13(d).
Interest Coverage Addition. With respect to Loan Group I and Loan Group II, as to any Distribution Date, an amount, not less than $0.00, equal: the sum of (x) interest accrued for the related Accrual Period on an amount equal to (i) the related Original Pre-Funded Amount minus (ii) the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred prior to the first day of the month in which such Distribution Date occurs, calculated at a rate equal to the sum of (a)(1) with respect to the Group I Certificates, the sum of (A) the Group I Pass-Through Rate for such Distribution Date and (B) 5.50% times the Notional Balance of the Class A-IO Components A, B and C divided by the Group I Pool Principal Balance as of the beginning of the related Due Period, or (2) with respect to the Group II Certificates, the sum of (A) the weighted average of the Group II Pass-Through Rates on the Class A-2, Class A-3, Class A-4, Class A-5, Class A-M-1F, Class M-2F and Class B-1F Certificates and (B) 6.50%, times the Notional Amount of the Class A-IO Component D divided by the Group II Pool Principal Balance as of the beginning of the related Due Period and (y) the Trustees Fee accrued on the excess, if any, of the original Pre-Funded Amount over the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred prior to the first day of the month in which such Distribution Date occurs.
Interest Coverage Addition. As to any Payment Date, an amount, not less than $0.00, equal to the interest accrued at the Weighted Average Net Loan Rate for the related Interest Period on an amount equal to (i) the Original Pre-Funded Amount minus (ii) the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred during the immediately preceding Collection Period, minus any amounts received with respect to interest on such Subsequent Mortgage Loans during such Collection Period.
Interest Coverage Addition. As to any Payment Date during the Funding Period, an amount, not less than $0.00, equal to the remainder of (x) the product of (A) the Original Pre-Funded Amount and (B) a rate equal to the sum of (i) the Bond Interest Rate for the related Interest Period and (ii) the rate used to calculate the Bond Insurance Premium (both rates calculated as one- twelfth of the annual rate) minus (y) interest collected on all Subsequent Mortgage Loans during the related Interest Period (and after the related Subsequent Cut-off Date with respect to any Subsequent Mortgage Loans transferred during such Interest Period).
Interest Coverage Addition. With respect to Loan Group I and Loan Group II, as to any Distribution Date, an amount equal to interest accrued for the related Accrual Period on an amount equal to (i) the related Original Pre-Funded Amount minus (ii) the aggregate Principal Balance of any related Subsequent Mortgage Loans transferred prior to the first day of the month in which such Distribution Date occurs, calculated at a rate equal to the sum of (a)(1) with respect to the Group I Certificates, the Group I Class A Pass-Through Rate for such Distribution Date, or (2) with respect to the Group II Certificates, 6.80%, and (b) 0.0075%.