Net WAC Carryover Amount definition

Net WAC Carryover Amount. With respect to each Class of LIBOR Certificates and a Distribution Date, an amount equal to the sum of (A) the excess of (1) the amount of interest such Class of Certificates would otherwise be entitled to receive on the Distribution Date had the related Pass-Through Rate been calculated at the related Formula Rate for such Distribution Date over (2) the amount of interest payable on such Class of Certificates at the Available Funds Cap for such Distribution Date and (B) the Net WAC Carryover Amount for such Class of Certificates for all previous Distribution Dates not previously paid to such Certificateholders (including any interest accrued on that amount at the related Formula Rate).
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Net WAC Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any class of the Class A, Class M or Class B Certificates is based on the Net WAC Cap, the excess of (i) the amount of interest such class would have been entitled to receive on such Distribution Date based on clauses (i) and (iii) only of its Pass-Through Rate over (ii) the amount of interest such class was entitled to receive on such Distribution Date based on the Net WAC Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate (based on clauses (i) and (iii) only of its Pass-Through Rate) on such class).
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Net WAC Carryover Amount. For any Payment Date on which the Note Rate for a Class of Notes is equal to the Maximum Rate, an amount equal to the sum of (i) the excess of (x) the amount of interest such Class accrued for such Payment Date at the related Note Rate determined pursuant to clause (a) of the definition thereof, over (y) the amount of interest such Class accrued for such Payment Date at the Maximum Rate and (ii) the unpaid portion of any related Net WAC Carryover Amount from the prior Payment Date together with interest accrued on such unpaid portion for the most recently ended Interest Accrual Period at the Note Rate applicable for such Class for such Interest Accrual Period.
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Examples of Net WAC Carryover Amount in a sentence

  • If no Net WAC Carryover Amount is payable on a Distribution Date, the Trustee shall deposit into the Net WAC Fund the Required Net WAC Fund Deposit.

  • The Net WAC Fund will be part of the Trust Fund but not part of any REMIC and any payments to the LIBOR Certificates of Net WAC Carryover Amount with respect to any Class of LIBOR Certificates will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1).

  • On each Distribution Date as to which there is Net WAC Carryover Amount for any Class of LIBOR Certificates, the Trustee is hereby directed to, and shall therefore, deposit into the Net WAC Fund an amount equal to the Net WAC Carryover Amount for each affected Class of LIBOR Certificates pursuant to Section 4.01(a)(3)(xiii).

  • However, if such termination occurs, there can be no assurance that any such termination payment will be owing to the Trustee or that the termination payment will be suÇcient to cover any 1-A-F1 Class Net WAC Carryover Amount.

  • On each Distribution Date on or prior to the earlier of (i) the Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the LIBOR Certificates is reduced to zero, amounts on deposit in the Supplemental Interest Reserve Fund will be withdrawn therefrom and distributed to the LIBOR Certificates, to the extent needed to pay any Net WAC Carryover Amount for such Distribution Date and any Net WAC Carryover Amount remaining unpaid from prior Distribution Dates.

  • Certificates of the 1-A-F1, 1-A-F2 and 1-A-S Classes, other than the rights of Holders of the 1-A-F1 and 1-A-F2 Classes to receive 1-A-F1 Class Net WAC Carryover Amount and 1-A-F2 Class Net WAC Carryover Amount, respectively.

  • However, if such termination occurs, there can be no assurance that any such termination payment will be owing to the Trustee or that the termination payment will be suÇcient to cover any 2-A-F1 Class Net WAC Carryover Amount.

  • For federal tax return and information reporting, the Net WAC Carryover Amount shall be assigned a value of zero.

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More Definitions of Net WAC Carryover Amount

Net WAC Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for (a) the Class AV Certificates is based upon the Group I Net WAC Cap, (b) the Class AF Certificates is based upon the Group II Net WAC Cap or (c) any class of the Class M or Class B Certificates is based on the Subordinate Net WAC Cap, the excess of (i) the amount of interest such class would have been entitled to receive on such Distribution Date based on clauses (i) and (iii) only of its Pass-Through Rate over (ii) the amount of interest such class was entitled to receive on such Distribution Date based on the applicable Net WAC Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate (based on clauses (i) and (iii) only of its Pass-Through Rate) on such class).
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Net WAC Carryover Amount. With respect to any Distribution Date on which the Pass-Through Rate for the Class A Certificates is limited by the Net WAC of the Mortgage Loans, the sum of (i) the excess, if any, of (a) the amount of interest that would have accrued on such Class at the related Pass-Through Rate (without giving effect to the Net WAC, but only up to 11.25%) over (b) the amount of interest that accrued at the Net WAC and (ii) any Net WAC Carryover Amount remaining unpaid from the prior Distribution Date together with interest thereon at the related Pass-Through Rate (without giving effect to the Net WAC, but only up to 11.25%). Any Net WAC Carryover Amount will be paid on such Distribution Date or future Distribution Dates solely from distributions otherwise payable on the Class X Certificates.
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Net WAC Carryover Amount. Not applicable.
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Net WAC Carryover Amount. If on any Distribution Date, the Accrued Certificate Interest for any class of (x) the Adjustable Rate Certificates is based on the related Net WAC Cap, the excess of (i) the amount of interest such class would have been entitled to receive on such Distribution Date based on clauses (i) and (iii) only of its Pass-Through Rate over (ii) the amount of interest such class was entitled to receive on such Distribution Date based on the related Net WAC Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate (based on clauses (i) and (iii) only of its Pass-Through Rate) on such class), (y) the Class A-2 Certificates is based on the Class A-2 Net WAC Cap, the excess of (i) the amount of interest such class would have been entitled to receive on such Distribution Date based on clause (i) only of its Pass-Through Rate, over (ii) the amount of interest such class received on such Distribution Date based on the Class A-2 Net WAC Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass Through Rate based on clause (i) only of its Pass-Through Rate on such class) and (z) the Class B-4 and Class B-5 Certificates is based on the Subordinate Net WAC Cap, the excess of (a) the amount of interest such class would have been entitled to receive on such Distribution Date based on clauses (i) and (iii) only of its Pass-Through Rate, over (b) the amount of interest such class received on such Distribution Date based on the Subordinate Net WAC Cap, together with the unpaid portion of any such excess from prior Distribution Dates (and interest accrued thereon at the then applicable Pass-Through Rate based on clauses (i) and (iii) only of its Pass-Through Rate on such class).
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Related to Net WAC Carryover Amount

  • Net WAC Rate Carryover Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates on such Distribution Date calculated at the related Formula Rate, over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate for such Class of Certificates for such Distribution Date and for such Accrual Period.

  • Carryover Amount for any Holder means, with respect to any registered offering in which such Holder elected not to participate after receipt of a notice under Section 2.2(a), a number of Registrable Securities equal to the number of Registrable Securities then held by such Holder, multiplied by a fraction (expressed as a percentage), the numerator of which is equal to the number of Registrable Securities sold by the Holder that sold the most Registrable Securities in such offering and the denominator of which is the number of Registrable Securities held by such Holder immediately prior to such offering.

  • Noteholders’ Principal Carryover Amount means, as of any date of determination, all or any portion of the Noteholders’ Principal Distributable Amount from the preceding Distribution Date which remains unpaid as of such date of determination.

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Noteholders’ Interest Carryover Amount means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

  • WAC Rate With respect to any Distribution Date, a per annum rate equal to the weighted average of the applicable Net Mortgage Pass-Through Rates of the Mortgage Loans (including the REO Mortgage Loans) for such Distribution Date, weighted on the basis of their respective Stated Principal Balances immediately prior to such Distribution Date.

  • Class A-4 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A‑4 Interest Distributable Amount for such Payment Date and any outstanding Class A‑4 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A‑4 Interest Carryover Shortfall at the Class A‑4 Rate, to the extent lawful, calculated on the same basis as interest on the Class A‑4 Notes for the same period), over (y) the amount of interest distributed to the Class A‑4 Noteholders on such Payment Date.

  • Note Interest Carryover Shortfall means, with respect to any Payment Date and a Class of Notes, the excess, if any, of (x) the sum of (i) the Note Monthly Interest Distributable Amount for such Class for the preceding Payment Date and (ii) any outstanding Note Interest Carryover Shortfall for such Class on such preceding Payment Date, over (y) the amount of interest that is actually paid on the Notes on such preceding Payment Date, plus, to the extent permitted by law, interest on the Note Interest Carryover Shortfall at the related Interest Rate for the related Interest Accrual Period.

  • Principal Carryover Shortfall means, as of the close of business on any Payment Date, the excess, if any, of the Principal Distribution Amount over the Monthly Principal Distributable Amount.

  • Certificate Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the sum of (i) the Certificate Monthly Interest Distributable Amount and (ii) any outstanding Certificate Interest Carryover Shortfall for the preceding Payment Date, over (y) the amount in respect of interest on the Certificates that is actually paid as interest on the Certificates on such Payment Date, plus, to the extent permitted by applicable law, interest on the Certificate Interest Carryover Shortfall at the Certificate Rate for the Interest Accrual Period.

  • Class A-3 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A‑3 Interest Distributable Amount for such Payment Date and any outstanding Class A‑3 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A‑3 Interest Carryover Shortfall at the Class A‑3 Rate, to the extent lawful, calculated on the same basis as interest on the Class A‑3 Notes for the same period), over (y) the amount of interest distributed to the Class A‑3 Noteholders on such Payment Date.

  • Carryover Allocation means an Allocation made to the Project if the Project will not be Placed in Service by close of the calendar year of the Allocation.

  • Class A-1 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A‑1 Interest Distributable Amount for such Payment Date and any outstanding Class A‑1 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A‑1 Interest Carryover Shortfall at the Class A‑1 Rate, to the extent lawful, calculated on the same basis as interest on the Class A‑1 Notes for the same period), over (y) the amount of interest distributed to the Class A‑1 Noteholders on such Payment Date.

  • Class C Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class C Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class C Notes.

  • Note Principal Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the sum of the Note Monthly Principal Distributable Amount plus any outstanding Note Principal Carryover Shortfall for the preceding Payment Date, over the amount in respect of principal that is actually paid as principal on the Notes on such Payment Date.

  • Noteholders' Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Noteholders’ Principal Distributable Amount for the preceding Distribution Date over the amount in respect of principal that is actually paid as principal on the Notes on such previous Distribution Date. Noteholders’ Principal Carryover Shortfall is not used to determine the amount of principal due on the Notes on any Distribution Date, but is used solely for reporting purposes.

  • Class B Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class B Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class B Notes.

  • Class A Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class A Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class A Notes.

  • Class D Interest Carryover Shortfall With respect to any Distribution Date, as of the close of business on such Distribution Date, the excess of (i) the Aggregate Class D Interest Distributable Amount for such Distribution Date over (ii) the amount that was actually deposited in the Note Distribution Account on such Distribution Date in respect of interest for the Class D Notes.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-BC3". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created under this Agreement.

  • Certificate Principal Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the sum of (i) the Certificate Monthly Principal Distributable Amount and (ii) any outstanding Certificate Principal Carryover Shortfall for the preceding Payment Date, over (y) the amount in respect of principal that is actually paid as principal on the Certificates on such Payment Date.

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Interest Carry Forward Amount With respect to any Distribution Date and the Class A Certificates or the Mezzanine Certificates, the sum of (i) the amount, if any, by which (a) the Interest Distribution Amount for such Class of Certificates as of the immediately preceding Distribution Date exceeded (b) the actual amount distributed on such Class of Certificates in respect of interest on such immediately preceding Distribution Date, (ii) the amount of any Interest Carry Forward Amount for such Class of Certificates remaining unpaid from the previous Distribution Date and (iii) accrued interest on the sum of (i) and (ii) above calculated at the related Pass-Through Rate for the most recently ended Interest Accrual Period.

  • Distribution Amount means the principal amount of $42,500,000 for each of the COP Swap Counterparties, plus interest, on and after October 15, 2014, on the unpaid Net Amount at the rate applicable to obligations under the Postpetition Financing Agreement, payable in cash in the manner set forth in the COP Swap Settlement Agreement.

  • Class B Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class B Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law, at the Class B Interest Rate for the related Interest Period.