Pool 2 Basis Risk Payment definition

Pool 2 Basis Risk Payment. With respect to any Distribution Date, an amount equal to the sum of (i) any Basis Risk Shortfall for such Distribution Date applicable to the Group 2 Certificates, (ii) any Unpaid Basis Risk Shortfall from previous Distribution Dates applicable to the Group 2 Certificates and (iii) any Pool 2 Required Reserve Fund Amount for such Distribution Date, less any amounts received under the Group 2 Cap Agreement and paid to any Class of the Group 2 Certificates pursuant to Section 5.02(i)(iii). The amount of the Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(i)(iii) of this Agreement.
Sample 1
Pool 2 Basis Risk Payment. With respect to any Distribution Date, an amount equal to (A) the sum of (i) any Basis Risk Shortfall for the Group 2 Certificates (other than the Class II-A1 Certificates) for such Distribution Date, (ii) any Unpaid Basis Risk Shortfall for the Group 2 Certificates (other than the Class II-A1 Certificates) from previous Distribution Dates and (iii) any Pool 2 Required Reserve Fund Amount for such Distribution Date less (B), solely to the extent of any interest rate shortfall for such Distribution Date on the Class II-A1 Certificates, any amounts received by the Trust Fund pursuant to the Balance Guaranteed Cap Agreement less (C), solely to the extent of any Basis Risk Shortfall for such Distribution Date or Unpaid Basis Risk Shortfalls from previous Distribution Dates on the Class II-A3 and Class II-A4 Certificates, any amounts received by the Trust Fund pursuant to the Group 2 Cap Agreement. The amount of the Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(k)(iv) of this Agreement.
Sample 1Sample 2
Pool 2 Basis Risk Payment. With respect to any Distribution Date, an amount equal to (A) the sum of (i) any Basis Risk Shortfall for the Group 2 Certificates for such Distribution Date, (ii) any Unpaid Basis Risk Shortfall for the Group 2 Certificates from previous Distribution Dates and (iii) any Pool 2 Required Reserve Fund Amount for such Distribution Date.
Sample 1

Examples of Pool 2 Basis Risk Payment in a sentence

  • The amount of the Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5B.02(d) of this Agreement.

  • The amount of Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(g)(iii) of the Agreement.


More Definitions of Pool 2 Basis Risk Payment

Pool 2 Basis Risk Payment. With respect to any Distribution Date, an amount equal to (A) the sum of (i) any Basis Risk Shortfall for the Group 2 Certificates for such Distribution Date, (ii) any Unpaid Basis Risk Shortfall for the Group 2 Certificates from previous Distribution Dates and (iii) any Pool 2 Required Reserve Fund Amount for such Distribution Date less (B), solely to the extent of any Basis Risk Shortfall for such Distribution Date or Unpaid Basis Risk Shortfalls from previous Distribution Dates on the Class WF-1 Certificates, any amounts received by the Trust Fund pursuant to the Group 2 Cap Agreement. The amount of the Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise available for distribution pursuant to Section 5.02(k)(iv) of this Agreement.
Sample 1
Pool 2 Basis Risk Payment. For any Distribution Date and the Pool 2 Certificates, the excess, if any, of (A) the sum of (1) any Basis Risk Shortfall for the Pool 2 Certificates for such Distribution Date not otherwise funded out of amounts received on the Interest Rate Cap Agreement and (2) any Unpaid Basis Risk Shortfall for the Pool 2 Certificates for such Distribution Date not otherwise funded out of amounts received on the Interest Rate Cap Agreement over (B) the amount of payments of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls made to the Pool 2 Certificates pursuant to Sections 5.02(h)(v)(A) and 5.02(h)(vii) for such Distribution Date; provided, however, that the amount of the Pool 2 Basis Risk Payment for any Distribution Date cannot exceed the amount of Pool 2 Monthly Excess Cashflow otherwise distributable in respect of the 2-X Component of the Class 2-X Certificates pursuant to Section 5.02(h) hereof on such Distribution Date (as determined under the definition of “2-X Component Distributable Amount” without regard to the Pool 2 Basis Risk Payment for such Distribution Date).
Sample 1

Related to Pool 2 Basis Risk Payment

  • Basis Risk Payment For any Distribution Date, an amount equal to the lesser of (i) the aggregate of the Basis Risk CarryForward Amounts for such Distribution Date and (ii) the Class X Distributable Amount (prior to any reduction for Basis Risk Payments).

  • Unpaid Basis Risk Shortfall With respect to any Distribution Date and any LIBOR Certificate, the aggregate of all Basis Risk Shortfalls with respect to such Certificate remaining unpaid from previous Distribution Dates, plus interest accrued thereon at the applicable Certificate Interest Rate (calculated without giving effect to the applicable Net Funds Cap) but limited to a rate no greater than the applicable Maximum Interest Rate.

  • Basis Risk Carry Forward Amount With respect to each Class of LIBOR Certificates, as of any Distribution Date, the sum of (A) if on such Distribution Date the Pass-Through Rate for any Class of LIBOR Certificates is based upon a Loan Group Cap or the WAC Cap, the excess, if any, of (i) the Accrued Certificate Interest Distribution Amount on such Class of LIBOR Certificates would otherwise be entitled to receive on such Distribution Date had such Pass-Through Rate not been subject to the Loan Group Cap or the WAC Cap, over (ii) the Accrued Certificate Interest Distribution Amount on such Class of Certificates on such Distribution Date taking into account (a) with respect to the Class A-1 Certificates at the lesser of the WAC Cap and the Loan Group I Cap, (b) with respect to the Class A-2 Certificates at the lesser of the WAC Cap and the Loan Group II Cap, and (c) with respect to each other Class of LIBOR Certificates, the WAC Cap, and (B) the Basis Risk Carry Forward Amount for such Class of LIBOR Certificates for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the applicable Pass-Through Rate for such Class of LIBOR Certificates for such Distribution Date (without giving effect to the WAC Cap, Loan Group I Cap or Loan Group II Cap, as applicable).

  • Basis Risk Shortfall With respect to any Distribution Date and any Class of LIBOR Certificates, the amount by which the amount of interest calculated at the Certificate Interest Rate applicable to such Class for such date, determined without regard to the Net Funds Cap for such date but subject to a cap equal to the Maximum Interest Rate, exceeds the amount of interest calculated at the Net Funds Cap.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • 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).

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • Class E Interest Rate means 5.02% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class X-B Notional Amount With respect to the Class X-B Certificates as of any date of determination, the sum of the Component Notional Amounts of the Class X-B Components.

  • Class X-A Pass-Through Rate For any Distribution Date, the weighted average of Class X Strip Rates for the Class X-A Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class X-B Pass-Through Rate For any Distribution Date, the Class X Strip Rate for the Class X-B Component for such Distribution Date.

  • Class P Principal Amount As of the Closing Date, $100.