Monthly Excess Interest definition

Monthly Excess Interest. As to any Distribution Date, the sum of (A) the Interest Remittance Amount remaining after the application of payments pursuant to clauses A. through D. of Section 4.02(b)(i) plus (B) the Principal Payment Amount remaining after the application of payments pursuant to clauses A. through E. of Section 4.02(b)(ii) or (iii).

Monthly Excess Interest. For any Distribution Date, the excess of the Interest Remittance Amount after the application of items (i) through (iii) in the distribution thereof, pursuant to Section 4.01(II)(a).

Monthly Excess Interest. With respect to any Distribution Date, the amount of any Interest Remittance Amount remaining after application pursuant to clauses (i) through (vi) of Section 5.02(b) on such date. Moody’s: Xxxxx’x Investors Service, Inc., or any successor in interest.

Examples of Monthly Excess Interest in a sentence

• Any investment earnings on funds held in the Principal and Interest Account shall be for the account of the Servicer and may only be withdrawn from the Principal and Interest Account by the Servicer immediately following the remittance of the Monthly Remittance Amount (and the Monthly Excess Interest Amount included therein) by the Servicer.

• Extra Principal Distribution Amount ----------------------------------- As of any Distribution Date, the lesser of (a) the Monthly Excess Interest Amount for that Distribution Date and (b) the Overcollateralization Deficiency for that Distribution Date.

• Realized Losses shall be allocated, through the priority of distributions in Section 4.02, first against the Monthly Excess Interest Amount and then against the Overcollateralization Amount until such amount has been reduced to zero.

• Any investment earnings on funds held in a Principal and Interest Account shall be for the account of the related Servicer and may only be withdrawn from the Principal and Interest Account by such Servicer immediately following the remittance of the Monthly Remittance Amount (and the Monthly Excess Interest Amount included therein) by such Servicer.

• Realized Losses shall be allocated first against the Monthly Excess Interest Amount and then against the Overcollateralization Amount until such amount has been reduced to zero.

More Definitions of Monthly Excess Interest

Monthly Excess Interest. With respect to any Distribution Date, the excess of (x) the Interest Remittance Amount for such Distribution Date over (y) the sum of Current Interest and Carryforward Interest on the Senior Certificates and Subordinate Certificates for such Distribution Date.

Monthly Excess Interest. With respect to any Payment Date, the amount of Interest Funds remaining after application pursuant to clauses (i) through (ix) of Section 6.02(a) on such Date.

Monthly Excess Interest. With respect to any Distribution Date, that portion, if any, of the Interest Remittance Amount available for distribution pursuant to Section 5.02(b)(iv) hereof for such date.

Monthly Excess Interest. As to any Distribution Date, the sum of (A) the Interest Remittance Amount remaining after the application of payments pursuant to clauses A. through M. of Section 4.02(b)(i) plus (B) the Principal Payment Amount remaining after the application of payments pursuant to clauses A. through L. of Section 4.02(b)(ii) or (iii). Monthly Statement: The statement delivered to the Certificateholders pursuant to Section 4.06. Moody’s: Xxxxx’x Investors Service, Inc., or any successor thereto. For purposes of Section 10.05(b) the address for notices to Moody’s shall be Xxxxx’x Investors Service, Inc., 00 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Residential Pass-Through Monitoring, or such other address as Moody’s may hereafter furnish to the Depositor, the Servicers and the Trustee.

Monthly Excess Interest. With respect to any Payment Date, any Interest Remittance Amount remaining after giving effect to payment pursuant to Section 5.06(b)(iii).

Monthly Excess Interest. As to any Distribution Date, the Interest Remittance Amount remaining after the application of payments pursuant to clauses (i) through (xv) of Section 4.02(a) and the Principal Payment Amount remaining after the application of payments pursuant to clauses (i) through (viii) of Section 4.02(c) or 4.02(d), as applicable. Monthly Statement: The statement delivered to the Certificateholders pursuant to Section 4.04.

Monthly Excess Interest. Amount As to any Distribution Date, an amount equal to any Remaining Interest Remittance Amount remaining after the distributions set forth in clauses (ii)(A) through (ii)(I) of Section 4.02(a). Monthly Statement The statement prepared by the Trustee pursuant to Section 4.03. Moody's Xxxxx'x Investors Service, Inc., or any successor thereto. For purposes of Section 10.05(b) the address for notices to Moody's shall be Xxxxx'x Investors Service, Inc., 00 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Residential Mortgage Monitoring Department, or such other address as Moody's may hereafter furnish to the Depositor or the Servicer. Mortgage The mortgage, deed of trust or other instrument creating a first lien on an estate in fee simple or leasehold interest in real property securing a Mortgage Note. Mortgaged Property The underlying property securing a Loan. Mortgage File The mortgage documents listed in Section 2.01 hereof pertaining to a particular Loan and any additional documents delivered to the Trustee to be added to the Mortgage File pursuant to this Agreement. Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Loan, together with any amendment or modification thereto. Mortgage Rate The annual rate of interest borne by a Mortgage Note as set forth therein. Mortgagor The obligor(s) on a Mortgage Note.