Monthly Excess Interest Amount definition

Monthly Excess Interest Amount. With respect to each Distribution Date, the amount, if any, by which the Group 1 Interest Remittance Amount and Group 2 Interest Remittance Amount for such Distribution Date exceed the aggregate amount distributed on such Distribution Date pursuant to paragraphs (a) through (c) under Section 4.02(d) hereof, plus interest on the Overcollateralization Amount accrued during the Interest Accrual Period related to that Distribution Date.

Monthly Excess Interest Amount. With respect to each Distribution Date, the amount, if any, by which the Interest Funds for such Distribution Date exceeds the aggregate amount distributed on such Distribution Date pursuant to Section 4.04(b) (other than the last clause thereof).

Monthly Excess Interest Amount. With respect to each Distribution Date, the amount, if any, by which the Interest Remittance Amount for such Distribution Date exceeds the aggregate amount distributed on such Distribution Date pursuant to paragraphs(i) through (vii) under Section 3.03.

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earnings on funds held in the Principal and Interest Account shall be for the account of the Servicer and may only be withdrawn from the Principal and Interest Account by the Servicer immediately following the remittance of the Monthly Remittance Amount (and the Monthly Excess Interest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on funds held in a Principal and Interest Account shall be for the account of the related Servicer and may only be withdrawn from the Principal and Interest Account by such Servicer immediately following the remittance of the Monthly Remittance Amount (and the Monthly Excess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

Monthly Excess Interest Amount. With respect to either Mortgage Loan Group and any Distribution Date means the excess, if any, of the interest accrued on the related Mortgage Loans at weighted average net Mortgage Loan Rate for the Mortgage Loans in such Mortgage Loan Group over the Accrued Certificate Interest for the related Offered Certificates during the related Interest Period.

Monthly Excess Interest Amount. With respect to any Payment Date, the excess, if any, of (i) the Interest Amount Available for the related Remittance Period, over (ii) the Current Interest on such Payment Date.

Monthly Excess Interest Amount. With respect to Group I, the Group I Monthly Excess Interest Amount, and with respect to Group II, the Group II Monthly Excess Interest Amount.

Monthly Excess Interest Amount. As to any Distribution Date, Available Funds remaining after distributions pursuant to Section 4.02(i) and (ii) (other than the Extra Principal Distribution Amount).

Monthly Excess Interest Amount. With respect to any Distribution Date, such term has the meaning set forth in paragraph Sixth of Section 4.01(a).

Monthly Excess Interest Amount. With respect to any Payment Date, the amount, if any, of the Interest Remittance Amount remaining after application to pay the Bond Interest and any Interest Carry Forward Amounts pursuant to Section 2.14 for such Payment Date.

Monthly Excess Interest Amount. With respect to any Distribution Date, the excess, if any, of (i) the Interest Amount Available for the related Due Period over (ii) the Current Interest on the Offered Certificates and the Class A Interest Carry Forward Amount on such Distribution Date.