Net Prepayment Interest Shortfall. For any Distribution Date, the amount by which the sum of the Prepayment Interest Shortfalls exceeds the sum of the Compensating Interest payments made on such Distribution Date.
Net Prepayment Interest Shortfall. With respect to any Distribution Date, the excess, if any, of any Prepayment Interest Shortfalls for such date over the related Compensating Interest.
Net Prepayment Interest Shortfall. With respect to any Master Servicer Remittance Date, the excess, if any, of any Prepayment Interest Shortfalls with respect to the Mortgage Loans for such date over any amounts paid with respect to such shortfalls by the Servicers pursuant to the Servicing Agreements.
Examples of Net Prepayment Interest Shortfall in a sentence
Any Net Prepayment Interest Shortfall will reduce the Interest Remittance Amount available for distribution on the related Distribution Date.
Any Net Prepayment Interest Shortfall will reduce the Interest Remittance Amount available for distribution on the related Distribution Date.Any Net Prepayment Interest Shortfalls and Relief Act Reduction allocated to the Insured Certificates will not be covered by the Certificate Insurance Policies.
Any Excess Prepayment Interest Shortfall shall be allocated to the Lower-Tier Regular Interests pro rata, in accordance with the Interest Distribution Amount of such Classes before reduction for such Net Prepayment Interest Shortfall.
The aggregate of the Servicing Fees payable to the Servicer for any month with respect to the Mortgage Loans shall be reduced by any Net Prepayment Interest Shortfall Amount with respect to such month.
More Definitions of Net Prepayment Interest Shortfall
Net Prepayment Interest Shortfall. For any Distribution Date and Loan Group, the amount by which the aggregate of Prepayment Interest Shortfalls for such Loan Group during the related Prepayment Period exceeds the related Compensating Interest Payments for such Distribution Date.
Net Prepayment Interest Shortfall. With respect to any Mortgage Loan and any Distribution Date, the amount by which any Prepayment Interest Shortfall for such date exceeds the amount payable by the Master Servicer and/or the related Servicers in respect of such shortfall.
Net Prepayment Interest Shortfall. With respect to each Mortgage Pool and any Distribution Date, the excess, if any, of any Prepayment Interest Shortfalls with respect to the Mortgage Loans in such Mortgage Pool for such date over the sum of any amounts paid by the Servicers with respect to such shortfalls and any amount that is required to be paid by the Master Servicer in respect of such shortfalls pursuant to this Agreement.
Net Prepayment Interest Shortfall. With respect to any Distribution Date, the excess, if any, of any Prepayment Interest Shortfalls with respect to the Mortgage Loans for such Distribution Date over any amounts paid with respect to such shortfalls by the Servicers pursuant to the Servicing Agreements or by the Master Servicer pursuant to this Agreement.
Net Prepayment Interest Shortfall. With respect to any Mortgage Loan and any Distribution Date, the amount by which any Prepayment Interest Shortfall for the related Due Period exceeds the amount of Master Servicer Compensating Interest Payment paid by the Master Servicer and Servicer Compensating Interest Payment paid by the applicable Servicer (other than Cenlar FSB) and/or the Servicing Administrator in respect of such shortfall for such Due Period.
Net Prepayment Interest Shortfall. As to any Distribution Date and Loan Group, the amount by which the aggregate of Prepayment Interest Shortfalls for such Loan Group exceeds an amount equal to the sum of (a) the Compensating Interest allocable to such Loan Group for such Distribution Date and (b) the excess, if any, of the Compensating Interest allocable to the other Loan Group for such Distribution Date over Prepayment Interest Shortfalls for such other Loan Group and Distribution Date.
Net Prepayment Interest Shortfall. With respect to a Mortgage Pool and any Distribution Date, the amount by which a Prepayment Interest Shortfall for the related Prepayment Period exceeds the amount that the Master Servicer is obligated to remit pursuant to the terms hereof and/or each Servicer is obligated to remit pursuant to the applicable Purchase and Servicing Agreement or Servicing Agreement, as applicable, to cover such shortfall for such Due Period.