Monthly Interest Shortfall definition

Monthly Interest Shortfall means, with respect to any Payment Date (the “current Payment Date”) and any Class of Notes, the excess of the Monthly Interest Amount Payable for the preceding Payment Date over the amount in respect of interest on that Class of Notes that was actually paid to the Noteholder for that Class of Notes on such preceding Payment Date, plus interest on such excess, to the extent permitted by law, at a rate per annum equal to the Interest Rate on that Class of Notes, from and including such preceding Payment Date to but excluding the current Payment Date.
Sample 1Sample 2Sample 3
Monthly Interest Shortfall shall have the meaning specified in Section 2.3(a).
Sample 1Sample 2Sample 3
Monthly Interest Shortfall is calculated for each Monthly Payment Date (including the Maturity Date) and is the product of (i) one-twelfth (1/12) of the positive difference, if any, of (x) the Semi-Annual Equivalent Rate (as defined below) less (y) the Treasury Yield plus fifty (50) basis points, times (ii) the outstanding principal balance of the Loan on each Monthly Payment Date (before application of any principal installment due for that month) for each full and partial month remaining in the Term.
Sample 1Sample 2Sample 3

Examples of Monthly Interest Shortfall in a sentence

  • The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class A Senior Monthly Interest Shortfall.” Interest shall accrue on the Class A Senior Monthly Interest Shortfall at the Alternate Base Rate plus 2% per annum.

  • The aggregate amount, if any, of such deficiency as of any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class R Monthly Interest Shortfall.” No interest shall accrue on the Class R Monthly Interest Shortfall.

  • The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class B Senior Monthly Interest Shortfall.” Interest shall accrue on the Class B Senior Monthly Interest Shortfall at the Alternate Base Rate plus 2% per annum.

  • The Trustee shall, by 12:00 noon (New York City time) on such Payment Date, make a demand on the Series 2001-1 Policy in an amount equal to the Series 2001-1 Monthly Interest Shortfall.

  • The Trustee shall, by 9:00 a.m. (New York City time) on such Payment Date, make a claim on the Series 2007-1 Policy in an amount equal to the Series 2007-1 Monthly Interest Shortfall.

  • The Trustee shall, by 12:00 noon (New York City time) on such Payment Date, make a claim on the Series 2002-1 Policy in an amount equal to the Series 2002-1 Monthly Interest Shortfall.

  • The Monthly Interest Shortfall is calculated for each monthly payment date and is the product of (i) the positive difference, if any, of (a) the Semi- Annual Equivalent Rate, less (b) the Treasury Yield, (ii) divided by twelve (12), times (iii) the outstanding principal balance of the Loan on each monthly payment date for which the calculation is made for each full and partial month remaining in the Term.

  • Carryover Shortfall 0.00 Per $1,000 of Original Balance 0.00 Class A-4 Notes Monthly Interest Class A-4 Notes Monthly Interest Due 1,038,414.38 Per $1,000 of Original Balance 5.63 Class A-4 Notes Monthly Interest Paid 1,038,414.38 Per $1,000 of Original Balance 5.63 Class A-4 Notes Monthly Interest Shortfall 0.00 Per $1,000 of Original Balance 0.00 Class A-4 Notes Interest Carryover Shortfall 0.00 Per $1,000 of Original Balance 0.00 Change in Class A-4 Notes Int.

  • On the first Business Day of each Monthly Period, the Servicer shall determine an amount (the "Class B Monthly Interest Shortfall") with respect to the Distribution Date in such Monthly Period equal to the excess, if any, of (x) the aggregate Class B Monthly Interest for the Interest Accrual Period ending in such Monthly Period OVER (y) the amount available to be paid to the Class B Securityholders in respect of interest on such Distribution Date.

  • Yield Maintenance is defined as the sum of the present ----------------- values on the date of prepayment of each Monthly Interest Shortfall for each month throughout the remaining Term of the Loan, discounted at the monthly Treasury Yield.


More Definitions of Monthly Interest Shortfall

Monthly Interest Shortfall means, with respect to each Distribution Date, an amount equal to the excess, if any, of (x) the Monthly Interest for the related Interest Accrual
Sample 1
Monthly Interest Shortfall the amount by which the Available Cash Flow is exceeded by the Monthly Interest Payment.
Sample 1
Monthly Interest Shortfall means, with respect to any Payment Date (the “current Payment Date”) and any Class of Notes, the excess of the Monthly Interest Amount Payable for the preceding Payment Date over the amount in respect of interest on that Class of Notes that was actually paid to the Noteholder for that Class of Notes on such preceding Payment Date, plus interest on such excess, to the extent permitted by law, at a rate per annum equal to the Interest Rate on that Class of Notes, from and including such preceding Payment Date to but excluding the current Payment Date.[“Moody’s” means Moody’s Investors Service, Inc. or any successor thereto.][“Non-SUBI Receivables” means all the Loans and any Leases not specified on Annex A to the Series 201[●]-[●] SUBI.]
Sample 1
Monthly Interest Shortfall is the product of (i) the positive difference, if any, of the Semi-Annual Equivalent Rate less the Treasury Yield, divided by 12, times (ii) the outstanding principal balance of the loan on each monthly payment date for each full and partial month remaining in the term. The present value is then determined by discounting each Monthly Interest Shortfall at the Treasury Yield divided by twelve. The "Semi-Annual Equivalent Rate" is 7.515%. The "Treasury Yield" will be determined by reference to the Federal Reserve Statistical Release H.15 (519) of Selected Interest Rates (or any similar successor publication of the Federal Reserve) for the first week ending not less than two full weeks prior to the prepayment date. If the remaining term is less than one year, the Treasury Yield will equal the yield for 1-year Treasury Constant Maturities. If the remaining term is equal to one of the maturities of the Treasury Constant Maturities (e.g., 1-year, 2-year, etc.), then the Treasury Yield will equal the yield for the Treasury Constant Maturity with a maturity equalling the remaining term. If the remaining term is longer than one year, but does not equal one of the maturities of the Treasury Constant Maturities, then the Treasury Yield will equal the yield for the Treasury Constant Maturity closest to, but not exceeding, the remaining Term.
Sample 1
Monthly Interest Shortfall will be calculated for each monthly payment date and means the product of (1) the prepaid principal balance of the portion of the Loan related to the Initial Advance divided by 12, and (2) the positive result, if any, from (a) the applicable US Dollar Composite Swap Rate as quoted by Bloomberg LP used as the index to compute the Fixed Rate (plus a break contract fee of 20 basis points) minus (b) the Replacement Rate (as hereinafter defined). The parties acknowledge and agree that the US Dollar Composite Swap Rate as quoted by Bloomberg LP used as the index to compute the Contract Rate is 1.45%.
Sample 1
Monthly Interest Shortfall means, with respect to each Distribution Date, an amount equal to the excess, if any, of (x) the Monthly Interest for the related Interest Accrual Period over (y) the amount available to be paid to the Noteholders in respect of interest on such Distribution Date.
Sample 1

Related to Monthly Interest Shortfall

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Class B-1 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-1 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph fifth of Section 4.01(a).

  • Class A Interest Shortfall Amount As to any Distribution Date and any Class of Class A Certificates, any amount by which the Interest Accrual Amount of such Class with respect to such Distribution Date exceeds the amount distributed in respect of such Class on such Distribution Date pursuant to Paragraph first of Section 4.01(a).

  • Class B-5 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-5 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph seventeenth of Section 4.01(a).

  • Class B Interest Shortfall Amount Any of the Class B-1 Interest Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest Shortfall Amount or Class B-6 Interest Shortfall Amount.

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Net Simple Interest Shortfall With respect to any Distribution Date, the excess, if any, of (a) 30 days’ interest at the weighted average (by principal balance) of the Net Mortgage Rates of the Simple Interest Mortgage Loans as of the first day of the related Due Period, as determined by the Servicer, on the aggregate principal balance of such Simple Interest Mortgage Loans for such Remittance Date, carried to six decimal places, rounded down, and calculated on the basis of a 360-day year consisting of twelve 30-day months, over (b) the amount of the payments received by the Servicer in the related Due Period allocable to interest in respect of such Simple Interest Mortgage Loans, calculated in accordance with the Simple Interest Method, net of the related Servicing Fees.

  • Monthly Interest means, with respect to any Distribution Date, the Class A Monthly Interest, the Class B Monthly Interest and the Collateral Minimum Monthly Interest for such Distribution Date.

  • Class B-2 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-2 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph eighth of Section 4.01(a).

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Class D Monthly Interest means, for any Distribution Date, one-twelfth (or, in the case of the first Distribution Date, the number of days from and including the Closing Date to but excluding the 15th day of the month in which such Distribution Date occurs, assuming each month has 30 days, divided by 360) of the product of (A) the Class D Rate and (B) the outstanding principal balance of the Class D Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class D Notes on or before such preceding Distribution Date).

  • Net Interest Shortfalls means Interest Shortfalls net of payments by the Company, the Servicer or the Master Servicer in respect of Compensating Interest.

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Prepayment Interest Shortfall As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment.

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).