Net Deferred Interest definition

Net Deferred Interest. With respect to each Loan Group and any Distribution Date, the greater of (i) the excess, if any, of the Deferred Interest for the related Due Date over the aggregate amount of any principal prepayments in part or in full received during the related Prepayment Period and (ii) zero.

Net Deferred Interest. With respect to each Distribution Date, an amount equal to the excess, if any, of the Deferred Interest that accrued on the Mortgage Loans from the preceding Due Date to the Due Date related to that Distribution Date over the Principal Prepayment Amount for that Distribution Date.

Net Deferred Interest. With respect to each Loan Group and Distribution Date, the excess, if any, of the amount of Deferred Interest that accrued on the Mortgage Loans in that Loan Group from the preceding Due Date to the Due Date in the month of such Distribution Date, over any Principal Prepayment Amount for those Mortgage Loans during the related Prepayment Period.

Examples of Net Deferred Interest in a sentence

• The Current Principal Amount hereof will be reduced to the extent of distributions allocable to principal hereon and Realized Losses allocated hereto and will be increased to the extent of Net Deferred Interest allocated thereto, in each case, as set forth in the Agreement.

• In the event that interest accrued on the Notional Amount of this Certificate is reduced as a result of the allocation of Net Deferred Interest on the related Mortgage Loans, as described in the Agreement, the principal balance of the principal component of this Certificate will increase by the amount of such reduction.

• For any Distribution Date, Net Deferred Interest shall be allocated to each Class of LIBOR Certificates in an amount equal to the excess, if any, of (i) the amount that would have been the Monthly Interest Distributable Amount for such Class if the Monthly Interest Distributable Amount for such Class had been computed at the Pass-Through Rate for such Class, over (ii) the actual Monthly Interest Distributable Amount for such Class.

• On each Distribution Date, any amount of Net Deferred Interest allocable to a Class of LIBOR Certificates on such Distribution Date shall be added as Principal to the outstanding Class Principal Balance of such Class of Certificates.

• Any Net Deferred Interest that is not allocable to any Class of LIBOR Certificates pursuant to the first sentence of this paragraph shall be allocated to the Class C Certificates and thereby increase the Overcollateralized Amount.

More Definitions of Net Deferred Interest

Net Deferred Interest. On any Distribution Date, Deferred Interest on the Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Liquidation Proceeds and amounts received pursuant to Section 2.04 and 4.07, in that order, included in the Available Distribution Amount for such Distribution Date and available to make principal distributions on the Certificates on that Distribution Date.

Net Deferred Interest. On any Distribution Date, for each Loan Group, Deferred Interest on the related Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Net Liquidation Proceeds, Repurchase Proceeds and scheduled principal payments, in that order, included in Available Funds for such Loan Group and such Distribution Date and available to be distributed on the Certificates on such Distribution Date. With respect to any Class of Class A, Class B or Grantor Trust Certificates as of any Distribution Date, the Net Deferred Interest will be an amount equal to the product of (1) the difference, if any, between (a) the lesser of (i) the Pass-Through Rate for such Class without regard to the related Net Rate Cap on such Distribution Date and (ii) the related Net Rate Cap on such Distribution Date and (b) the Adjusted Rate Cap for such Distribution Date, (2) the Current Principal Amount of such Certificate immediately prior to such Distribution Date, and (3) the actual number of days in such Interest Accrual Period divided by 360.

Net Deferred Interest. On any Distribution Date, Deferred Interest on the related Mortgage Loans during the related Due Period net of Principal Prepayments available to be distributed on the Certificates on that Distribution Date.

Net Deferred Interest. On any Distribution Date, Deferred Interest on the Mortgage Loans during the related Due Period net of Principal Prepayments in full, partial Principal Prepayments, Net Liquidation Proceeds, Repurchase Proceeds and Stated Principal, in that order included in Available Funds for such Distribution Date and available to make principal distributions on the Certificates on that Distribution Date. With respect to any Class of Certificates (other than the Class B-IO, Class XP and Residual Certificates) as of any Distribution Date will be an amount equal to the product of (1) the difference, if any between (a) the lesser of (i) the Pass-Through Rate for such Class, without regard to the Net Rate Cap on such Distribution Date and (ii) the weighted average of the Net Rate on the Mortgage Loans and (b) the Adjusted Rate Cap for such Distribution Date, (2) the Current Principal Amount of the Certificate immediately prior to such Distribution Date, and (3) the actual number of days in such Interest Accrual Period divided by 360.

Net Deferred Interest. With respect to any Distribution Date, the excess, if any, of Deferred Interest that accrued on the related Mortgage Loans during the related Due Period, over the sum of (i) the amount of Principal Prepayments received on the Mortgage Loans during the Prepayment Period related to that Distribution Date and (ii) interest received on the Mortgage Loans in excess of the Accrued Certificate Interest for all Classes of Offered Certificates (other than the Residual Certificates).

Net Deferred Interest. With respect to any Payment Date and the Negative Amortization Mortgage Loans, the excess, if any, of Deferred Interest recognized on such Negative Amortization Mortgage Loans for the related Due Period over the Principal Distribution Amount for the Group [ ] Mortgage Loans for such Payment Date.]

Net Deferred Interest. With respect to each Distribution Date, the excess, if any, of (x) any Deferred Interest that accrued on the Group II Mortgage Loans for the related Due Period, over (y) the Group II Principal Remittance Amount for that Distribution Date.