Interest Reductions definition

Interest Reductions. As to each Mortgage Certificate, the sum of (i) Non-Supported Interest Shortfalls (as defined in the Underlying Pooling Agreement), (ii) the interest portions of Realized Losses (as defined in the Underlying Pooling Agreements) and (iii) Relief Act Reductions (as defined in the Underlying Pooling Agreements) that are expressly allocated to such Mortgage Certificate pursuant to the related Underlying Pooling Agreement.
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Interest Reductions. With respect to a Mortgage Certificate, any Non-Supported Interest Shortfalls, Relief Act Shortfalls and similar items that, are expressly allocated to such Mortgage Certificates, pursuant to the applicable Underlying Pooling and Servicing Agreement, proportionately with all other interest-bearing Classes of their respective Series as reflected in the Underlying Distribution Date Statements.
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Interest Reductions. With respect to a Mortgage Certificate, any amounts that are expressly allocated to such Mortgage Certificates pursuant to Section 5.02(c) of the applicable Governing Agreement.
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Examples of Interest Reductions in a sentence

  • The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Interest Reductions allocated to the Class B-1 Certificates, as described in the Agreement.

  • The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Interest Reductions allocated to the Class B-2 Certificates, as described in the Agreement.

  • The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Interest Reductions allocated to the Class A-R Certificate, as described in the Agreement.

  • The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Interest Reductions allocated to the Class A-1 Certificates, as described in the Agreement.

  • The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Interest Reductions allocated to the Class A-2 Certificates, as described in the Agreement.

Related to Interest Reductions

  • Interest Remittance Amount For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.

  • Relief Act Reductions With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Relief Act Reduction With respect to any Mortgage Loan as to which there has been a reduction in the amount of the interest collectible thereon as a result of the application of the Servicemembers Civil Relief Act, any amount by which interest collectible on such Mortgage Loan for the Due Date in the related Due Period is less than the interest accrued thereon for the applicable one-month period at the Mortgage Interest Rate without giving effect to such reduction.