Overfunded Interest Amount. With respect to any Subsequent Transfer Date, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at the sum of the (a) assumed weighted average Pass-Through Rate of the Offered Certificates and (b) the Applicable Rate on the Prefunded Amount outstanding at the end of the related Collection Period for the total number of days remaining through the end of the Accrual Periods ending April 25, 2004, May 24, 2004 and June 24, 2004 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 0.75%. The assumed weighted average Pass-Through Rate will be calculated assuming the Certificate Index is 1.09% for any Subsequent Transfer Date prior to the April 2004 Distribution Date, 1.34% for any Subsequent Transfer Date prior to the May 2004 Distribution Date and 1.59% for any Subsequent Transfer Date prior to the June 2004 Distribution Date.
Overfunded Interest Amount. With respect to any Subsequent Transfer Date, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at the sum of the (a) assumed weighted average Pass-Through Rate of the Offered Certificates and (b) the Applicable Rate on the Prefunded Amount outstanding at the end of the related Collection Period for the total number of days remaining through the end of the Accrual Periods ending July 24, 2003, August 24, 2003 and September 24, 2003 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 0.75%. The assumed weighted average Pass-Through Rate will be calculated assuming the Certificate Index is 1.02% for any Subsequent Transfer Date prior to the July 2003 Distribution Date, 1.27% for any Subsequent Transfer Date prior to the August 2003 Distribution Date and 1.52% for any Subsequent Transfer Date prior to the September 2003 Distribution Date.
Overfunded Interest Amount. With respect to each Subsequent Transfer Date occurring in January 1998, the difference between (i) three-months' interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the weighted average Class A and Class B Remittance Rates, and (ii) three-months' interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the rate at which Pre-Funding Account moneys are invested as of such Subsequent Transfer Date. With respect to each Subsequent Transfer Date occurring in February 1998, the difference between (i) two-months' interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the weighted average Class A and Class B Remittance Rates, and (ii) two-months' interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the rate at which Pre-Funding Account moneys are invested as of such Subsequent Transfer Date. With respect to each Subsequent Transfer Date occurring in March 1998, the difference between (i) one-month's interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the weighted average Class A and Class B Remittance Rates, and (ii) one-month's interest on the aggregate Principal Balances of the Subsequent SBA Loans acquired by the Trust Fund on such Subsequent Transfer Date, calculated at the rate at which Pre-Funding Account moneys are invested as of such Subsequent Transfer Date.
Examples of Overfunded Interest Amount in a sentence
On any Subsequent Transfer Date, any Overfunded Interest Amount shall be withdrawn from the Capitalized Interest Account and paid to the Depositor.
With respect to each Subsequent Sales Date, the Master Servicer shall determine the Overfunded Interest Amount.
With respect to each Subsequent Sales Date the Master Servicer shall determine the Overfunded Interest Amount.
We have another question that came in that I'd like to ask our colleague, Siobhan, to take.
On each of the [__________] and [__________] Distribution Dates, the Overfunded Interest Amount shall be withdrawn from the Capitalized Interest Account and paid to the Depositor.
More Definitions of Overfunded Interest Amount
Overfunded Interest Amount. With respect to each Subsequent Transfer Date occurring in December 2002, the excess, if any, of (i) the amount on deposit in the Capitalized Interest Account, over (ii) three-months' interest calculated at the Adjusted Pass-Through Rate on the Pre-Funding Amount (net of any Pre-Funding Earnings) immediately following such Subsequent Transfer Date (disregarding any amount applied from the Pre-Funding Account to a Subsequent Mortgage Loan that does not have a Due Date in December 2002). With respect to each Subsequent Transfer Date occurring in January 2003, the excess of (i) the amount on deposit in the Capitalized Interest Account, over (ii) two-month's interest calculated at the Adjusted Pass-Through Rate on the Pre-Funding Amount (net of any Pre-Funding Earnings) immediately following such Subsequent Transfer Date (disregarding any amount applied from the Pre-Funding Account to a Subsequent Mortgage Loan that does not have a Due Date in January 2003). With respect to each Subsequent Transfer Date occurring in February 2003, the excess of (i) the amount on deposit in the Capitalized Interest Account, over (ii) one-month's interest calculated at the Adjusted Pass-Through Rate on the Pre-Funding Amount (net of any Pre-Funding Earnings) immediately following such Subsequent Transfer Date (disregarding any amount applied from the Pre-Funding Account to a Subsequent Mortgage Loan that does not have a Due Date in February 2003). OWNER-OCCUPIED MORTGAGED PROPERTY: A Residential Dwelling as to which (a) the related Mortgagor represented an intent to occupy as such Mortgagor's primary, secondary or vacation residence at the origination of the Mortgage Loan, and (b) the Unaffiliated Seller has no actual knowledge that such Residential Dwelling is not so occupied.
Overfunded Interest Amount. With respect to any Subsequent Transfer Date and the Subsequent Mortgage Loans, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at (x) the assumed weighted average Pass-Through Rates of the Senior Certificates multiplied by (y) the Pre-Funding Amount outstanding at the end of the related Due Period for the total number of days remaining through the end of the Interest Accrual Periods ending (a) January 25, 2006, (b) February 25, 2006 and (c) March 26, 2006 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 3.880%. The assumed weighted average Pass-Through Rate of the Senior Certificates will be calculated assuming LIBOR is 4.369% for any Subsequent Transfer Date for the Subsequent Mortgage Loans prior to the January 2006 Distribution Date, 4.769% for any Subsequent Transfer Date for the Subsequent Mortgage Loans prior to the February 2006 Distribution Date and 5.169% for any Subsequent Transfer Date for the Subsequent Mortgage Loans prior to the March 2006 Distribution Date.
Overfunded Interest Amount. With respect to any Subsequent Transfer Date and the Subsequent Mortgage Loans, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at (x) the assumed weighted average Pass-Through Rates of the Senior Certificates multiplied by (y) the Pre-Funding Amount outstanding at the end of the related Due Period for the total number of days remaining through the end of the Interest Accrual Periods ending (a) September 25, 2002, (b) October 26, 2002 and (c) November 25, 2002 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 2.50%. The assumed weighted average Pass-Through Rate of the Senior Certificates will be calculated assuming LIBOR is 1.81% for any Subsequent Transfer Date prior to the September 2002 Distribution Date, 2.06% for any Subsequent Transfer Date prior to the October 2002 Distribution Date and 2.31% for any Subsequent Transfer Date prior to the November 2002 Distribution Date.
Overfunded Interest Amount. With respect to each Subsequent Sales Date, the excess of (i) interest accruing from the related Subsequent Cut-Off Date to the Distribution Date immediately following the last date on which the Funding Period may then end on the aggregate Scheduled Principal Balances of the Subsequent Mortgage Loans acquired by the Trust on such Subsequent Transfer Date, calculated at a rate equal to the Net Rate on such Subsequent Mortgage Loans over (ii) interest accruing from such Subsequent Cut-Off Date to such Distribution Date on the aggregate Scheduled Principal Balances of the Subsequent Mortgage Loans acquired by the Trust on such Subsequent Sales Date, calculated at the rate at which moneys in the Pre-Funding Account are invested as of such Subsequent Sales Date.
Overfunded Interest Amount. With respect to each Subsequent Transfer Date, the sum, if any, of (A) with respect to the Class A-1 Certificates, the excess of (i) the product of (x) a fraction, the numerator of which is the aggregate Loan Balances of the Subsequent Mortgage Loans related to Group I acquired by the Trust on such Subsequent Transfer Date and the denominator of which is the Original Group I Pre-Funded Amount and (y) the amount related to Group I in the Capitalized Interest Account on such Subsequent Transfer Date over (ii) the Group I Capitalized Interest Requirement after taking into account any transfers described in Section 7.4(e) hereof and (B) with respect to the Class A-2 Certificates, the excess of (i) the product of (x) a fraction, the numerator of which is the aggregate Loan Balances of the Subsequent Mortgage Loans related to Group II acquired by the Trust on such Subsequent Transfer Date and the denominator of which is the Original Group II Pre-Funded Amount and (y) the amount related to Group II in the Capitalized Interest Account on such Subsequent Transfer Date over (ii) the Group II Capitalized Interest Requirement after taking into account any transfers described in Section 7.4(e) hereof.
Overfunded Interest Amount. With respect to any Subsequent Transfer Date, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the amount of interest accruing at the weighted average Pass-Through Rate of the Certificates on the Prefunded Amount outstanding at the end of the related Collection Period for the total number of days remaining through the end of the Accrual Periods ending December 31, 2007 and January 31, 2008.