Net Interest Shortfalls definition

Net Interest Shortfalls means Interest Shortfalls net of payments by the Company, the Servicer or the Master Servicer in respect of Compensating Interest.
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Net Interest Shortfalls. With respect to any Distribution Date, any Net Prepayment Interest Shortfalls for that Distribution Date and the amount of interest that would otherwise have been received with respect to any Mortgage Loan which was subject to (i) a Relief Act Reduction or (ii) the interest portion of any Debt Service Reduction or Deficient Valuation, after exhaustion of the respective amounts of coverage provided by the Subordinate Certificates for those type of losses.
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Net Interest Shortfalls means Interest Shortfalls net of payments by the Servicer in respect of Compensating Interest.
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Examples of Net Interest Shortfalls in a sentence

  • As described below, Accrued Certificate Interest on the Senior Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto.

  • The aggregate amount of any Net Interest Shortfalls and interest portion of Realized Losses for any Distribution Date shall be allocated to accrued interest payable to the REMIC I Regular Interests (other than REMIC I Regular Interest R-II/R-III), pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.

  • As described below, Accrued Certificate Interest on each such Class of Group 2 Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto.

  • As described below, Accrued Certificate Interest on the Group 1 Senior Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto.

  • On any Distribution Date, Pool 1 Net Interest Shortfalls shall first reduce the Pool 1 Net Monthly Excess Cashflow and then will be allocated among the Pool 1 Senior, Pool 1 Mezzanine and Pool 1 Subordinate Certificates in reduction of their respective Pool 1 Interest Distribution Amounts, pro rata, based on the respective Pool 1 Interest Distribution Amounts for such Distribution Date without giving effect to Pool 1 Net Interest Shortfalls.


More Definitions of Net Interest Shortfalls

Net Interest Shortfalls. For any Distribution Date and the Group 1, Group 2, Group 3 and Group 4 Mortgage Loans, the sum of (A) the amount of interest which would otherwise have been received for a Mortgage Loan in the related Loan Group during the prior calendar month that was the subject of (x) a Relief Act Reduction or (y) a Special Hazard Loss, Fraud Loss or Bankruptcy Loss, after the exhaustion of the respective amounts of coverage provided by the Class C-B Certificates for those types of losses; and (B) any related Net Prepayment Interest Shortfalls.
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Net Interest Shortfalls as defined in the Underlying Agreement.
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Net Interest Shortfalls. The Interest Shortfalls net of payments by the related Servicer or the Master Servicer in respect of Compensating Interest, together with Interest Shortfalls due to the application of the Relief Act or similar state or local laws.
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Net Interest Shortfalls. As defined in Section 1.02.
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Net Interest Shortfalls. As defined in Section 4.04 hereof.
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Net Interest Shortfalls. With respect to each Distribution Date, the sum of (i) Soldiers' and Sailors' Shortfalls and (ii) Due Date Interest Shortfalls, less Compensating Interest, each for the related Collection Period.
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Net Interest Shortfalls. With respect to any Distribution Date, Interest Shortfalls, if any, net of payments by the Servicer or the Master Servicer in respect of Compensating Interest.
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