MONTHLY EXCESS SPREAD definition

MONTHLY EXCESS SPREAD. As of any Remittance Date and for any Pool of Mortgage Loans, an amount equal to the sum of (A) the product of (i) the amount calculated pursuant to the first sentence of the definition of Excess Spread with respect to such Remittance Date for such Pool of Mortgage Loans and (ii) the then applicable Monthly Excess Spread Percentage and (B) with respect to the Remittance Dates in January, February and March 1998, the amount calculated pursuant to the second sentence of the definition of Excess Spread with respect to such Remittance Date.
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MONTHLY EXCESS SPREAD. As to Group I and any Remittance Date, the portion, if any, of the Group I Available Distribution Amount remaining after the distribution on such Remittance Date of the amounts specified in clauses A(i) through (x) or clauses B(i) through (x), as applicable, of Section 6.01(a). As to Group II and any Remittance Date, the portion, if any, of the Group II Available Distribution Amount (other than any portion thereof representing the Overcollateralization Reduction Amount, if any, for such Remittance Date) remaining after the distribution on such Remittance Date of the amounts specified in clauses C(i) through (viii) or clauses D(i) through (viii), as applicable, of Section 6.01(a).
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MONTHLY EXCESS SPREAD. With respect to any Remittance Date, an amount equal to the excess of (A) the product of (i) the aggregate Principal Balances of the Loans as of the first day of the immediately preceding Due Period and (ii) one-twelfth of the weighted average Loan Interest Rate as of the first day of the related Due Period over (B) the sum of the Current Interest Distribution Requirement for such Remittance Date, (iii) amounts to be deposited into the Expense Account on such Remittance Date pursuant to Section 7.04(d)(ii), the Servicing Fee and the Contingency Fee with respect to such Remittance Date and (iv) with respect to those FHA Loans for which the FHA Insurance Premium is paid by the related Obligor as part of the interest payment, the applicable FHA Insurance Premium. With respect to the Remittance Dates during the Funding Period, the Monthly Excess Spread also will include the Pre-Funding Earnings for the applicable Remittance Date.
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More Definitions of MONTHLY EXCESS SPREAD

MONTHLY EXCESS SPREAD. As of any Remittance Date and for the Pool of Mortgage Loans, an amount equal to the product of (i) the amount calculated pursuant to the definition of Excess Spread with respect to such Remittance Date and (ii) the then Monthly Excess Spread Percentage.
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MONTHLY EXCESS SPREAD. With respect to any Distribution Date and for any Pool, the excess of (i) the interest which is collected on the Mortgage Loans of such Pool, less the related Servicing Fees, during the prior Due Period, plus any Delinquency Advances with respect to such Pool, and any amount covering a Compensating Interest with respect to such Pool paid by the Servicer with respect to such Due Period, over (ii) the sum of (x) the Interest Distribution Amount with respect to such Pool for such Distribution Date, (y) the amount to be distributed with respect to such Pool to [THE CERTIFICATE INSURER] pursuant to Section 4.04(a)(i) on such Distribution Date and (z) the amount to be distributed with respect to such Pool to the Trustee pursuant to Section 4.04(a)(ii) on such Distribution Date.
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MONTHLY EXCESS SPREAD. With respect to any Remittance Date, an amount equal to the excess of (A) the product of (i) the aggregate Principal Balances of the Home Improvement Loans as of the first day of the immediately preceding Due Period and (ii) one-twelfth of the weighted average Home Improvement Loan Remittance Rate as of the first day of the related Due Period over (B) the sum of the Current Interest Distribution Requirement for such Remittance Date, (iii) amounts to be deposited into the Expense Account on such Remittance Date pursuant to Section 6.08(d)(ii), the Servicing Fee and the Contingency Fee with respect to such Remittance Date and (iv) with respect to those FHA Loans for which the FHA Insurance Premium is paid by the related Mortgagor as part of the interest payment, the applicable FHA Insurance Premium. With respect to the Remittance Dates in July, August and September 1997, the Excess Spread also will include the sum of (i) all funds to be transferred to the Certificate Account from the Capitalized Interest Account for such Remittance Date pursuant to Section 6.02(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date.
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MONTHLY EXCESS SPREAD. With respect each Distribution Date and each Loan Group, the excess, if any, of (i) the Group I Available Funds or the Group II Available Funds, as applicable, over (ii) the sum of (A) the related Principal Remittance Amount, (B) the amounts required to be distributed pursuant to clauses (i) and (ii) of Section 4.01(a)(1) or Section 4.01(a)(2), as applicable.
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Related to MONTHLY EXCESS SPREAD

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Net Excess Spread With respect to any Distribution Date, (A) the fraction, expressed as a percentage, the numerator of which is equal to the product of (i) the amount, if any, by which (a) the aggregate of the Interest Remittance Amounts for each Mortgage Pool for such Distribution Date (as reduced by the Credit Risk Manager’s Fee) exceeds (b) the Current Interest payable with respect to the Certificates for such date and (ii) twelve, and the denominator of which is the Aggregate Pool Balance for such Distribution Date, multiplied by (B) a fraction, the numerator of which is thirty and the denominator of which is the greater of thirty and the actual number of days in the immediately preceding calendar month.

  • Excess Spread means, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.

  • Remaining Excess Spread With respect to any Distribution Date, the Excess Spread less any Extra Principal Distribution Amount, in each case for such Distribution Date.

  • Quarterly Excess Spread Percentage means, with respect to the August 2008 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Excess Spread Percentage for any Distribution Date means a fraction, the numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related Due Period.

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Aggregate Funded Spread As of any Measurement Date, the sum of: (a) in the case of each Floating Rate Obligation (other than a Defaulted Obligation) that bears interest at a spread over a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Notes (including, for any Permitted Deferrable Obligation, only the excess of the required current cash pay interest required by the Underlying Documents thereon over the applicable index and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation), (i) the stated interest rate spread paid in Cash on such Collateral Obligation above such index multiplied by (ii) the Principal Balance of such Collateral Obligation; provided that (i) with respect to any Floor Obligation, the stated interest rate spread paid in Cash on such Collateral Obligation over the applicable index shall be deemed to be equal to the sum of (x) the stated interest rate spread paid in Cash over the applicable index and (y) the excess, if any, of the specified “floor” rate relating to such Collateral Obligation over the greater of zero and the applicable index and (ii) the interest rate of each Step-Up Obligation will be deemed to be its current rate of interest and the interest rate of each Step-Down Obligation will be deemed to be the lowest rate of interest that such Collateral Obligation will by its terms pay in the future solely as a function of the passage of time; and (b) in the case of each Floating Rate Obligation (including, for any Permitted Deferrable Obligation, only the required current cash pay interest required by the Underlying Documents thereon and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation) that bears interest at a spread over an index other than a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Notes, (i) the excess of (x) the sum of such spread and the greater of such index or any applicable floor paid in Cash over (y) the Benchmark applicable to the Floating Rate Notes as of the immediately preceding Interest Determination Date (which spread or excess may be expressed as a negative percentage) multiplied by (ii) the Principal Balance of each such Collateral Obligation.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • 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.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Required Spread Account Amount means, for the March 2012 Payment Date and the April 2012 Payment Date, zero, and for any Payment Date thereafter, the product of (i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) during the Controlled Accumulation Period or the Early Amortization Period, the Collateral Amount as of the last day of the Revolving Period; provided that, prior to the occurrence of an Event of Default and acceleration of the Series 2012-1 Notes, the Required Spread Account Amount will never exceed the Class C Note Principal Balance (after taking into account any payments to be made on such Payment Date).

  • 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.

  • Monthly Period means the period from and including the first day of a calendar month to and including the last day of such calendar month.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • Principal Remittance Amount With respect to any Distribution Date, the sum of the Group I Principal Remittance Amount and the Group II Principal Remittance Amount.

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Assumed Monthly Payment With respect to (a) any Mortgage Loan that is a Balloon Mortgage Loan delinquent in respect of its Balloon Payment beyond the Determination Date immediately following its scheduled maturity date (as such date may be extended in connection with a bankruptcy, insolvency or similar proceeding involving the related Borrower or by reason of a modification, waiver or amendment granted or agreed to by the Master Servicer or the Special Servicer), for that scheduled maturity date and for each subsequent Due Date as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due with respect to such Mortgage Loan on such Due Date equal to the amount (exclusive of Default Interest and any Post-ARD Additional Interest) that would have been due in respect thereof on such Due Date if such Mortgage Loan had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule (if any), in effect immediately prior to, and without regard to the occurrence of, such maturity date; and (b) any REO Mortgage Loan, for any Due Date as of which the related REO Property (or, in the case of any REO Mortgage Loan that is a successor to any Mortgage Loan in a Loan Combination, any interest in the related REO Property) remains part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Monthly Payment (or, in the case of a Balloon Mortgage Loan described in clause (a) of this definition, the Assumed Monthly Payment) that was due (or deemed due) with respect to the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • 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).