Premium Shortfall definition

Premium Shortfall. For any Distribution Date, the amount by which the Premium Payment (as reduced pursuant to Section 5.02(c)) exceeds the amount of premium actually distributed to MBIA on such Distribution Date pursuant to clause (i) of the definition of Premium Distribution Amount.
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Premium Shortfall. For any Distribution Date, the amount by which the Premium Payment exceeds the amount of premium actually distributed to Assured Guaranty on such Distribution Date pursuant to clause (i) of the definition of Premium Distribution Amount.
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Premium Shortfall. For any Distribution Date, the amount by which the Premium Payment (as reduced pursuant to Section 6.03(i) exceeds the amount of premium actually distributed to Radian on such Distribution Date pursuant to clause (i) of the definition of Premium Distribution Amount.
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Examples of Premium Shortfall in a sentence

  • Termination Premium Shortfall from the Group Finance Charge Collections Reallocation Account.

  • TRS Premium Shortfall Reimbursement Amount:With respect to any Reference Obligation Payment Date, an Amount equal to the greater of (a) zero and(b) (x) the Actual TRS Premium Amount that is paid by or on behalf of Barramundi on such date minus (y) the Expected TRS Premium Amount.

  • TRS Premium Shortfall Cap Amount:With respect to any Reference Obligation Payment Date, the greater of (A) zero and (B) the excess, if any, of (1) the Total Available Amount calculated in respect of the Tranche Payment Date immediately following the Reference Obligation Payment Date on which the relevant Interest Shortfall occurred over (2) the Class A-1 Interest Shortfall Payment Amount with respect to such Reference Obligation Payment Date.

  • If applicable, on or after the Series Pre-Funding Deadline, an amount equal to the lesser of (A) the Class B Early Termination Premium or the Class B Early Termination Premium Shortfall, as applicable, and (B) the sum of any remaining Series Finance Charge Collections and any remaining Series Additional Allocable Amounts shall be withdrawn from the Series Collections Account and deposited into the Series Distribution Account.

  • Premium Shortfall from the Group Finance Charge Collections Reallocation Account.

  • Notwithstanding the preceding paragraph, with respect to the first Reference Obligation Payment Date only, the TRS Premium Shortfall Amount shall be the amount determined in accordance with the preceding paragraph multiplied by a fraction, of which: (x) the numerator is equal to the number of days in the first Reference Obligation Calculation Period with respect to the Party A Floating Amounts; and (y) the denominator is equal to the number of days in the first Reference Obligation Calculation Period.

  • Party B Floating Amount Event: A Failure to Pay Principal, a Class A-1 Interest Shortfall ora TRS Premium Shortfall.

  • TRS Premium Shortfall: With respect to any Reference Obligation PaymentDate, either (a) the non-payment of an Expected TRS Premium Amount or (b) the payment of an ActualTRS Premium Amount that is less than the Expected TRS Premium Amount.

  • Party A Floating Payment Event: The occurrence, on or after the Effective Date and on orbefore the day that is one calendar year after the Effective Maturity Date, of a Principal Shortfall Reimbursement, a Class A-1 Interest Shortfall Junior Reimbursement or a TRS Premium Shortfall Junior Reimbursement.

  • Premium Shortfall Your policy will lapse if there is any non-payment of premiums during the first 2 policy years.


More Definitions of Premium Shortfall

Premium Shortfall. For any Distribution Date, the amount by which the Premium Payment exceeds the amount of premium actually distributed to the Class I-A-5 Insurer on such Distribution Date pursuant to clause (i) of the definition of Premium Distribution Amount.
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Related to Premium Shortfall

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Principal Shortfall For any Distribution Date, the amount, if any, by which (i) the Principal Distribution Amount for the preceding Distribution Date exceeds (ii) the aggregate amount actually distributed with respect to principal on the Non-Vertically Retained Principal Balance Certificates on such preceding Distribution Date in respect of such Principal Distribution Amount.

  • Capitalization Reimbursement Shortfall Amount With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount, if any, by which the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans (or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group) during the preceding calendar month exceeds the amount of principal payments on the Mortgage Loans included in the Available Distribution Amount (or, if the Mortgage Pool is comprised of two or more Loan Groups, Available Distribution Amount for the related Loan Group) for that Distribution Date.

  • Curtailment Shortfall For any Distribution Date and for any Curtailment received in the Prior Period, an amount equal to one month’s interest on such Curtailment at the Pass-Through Rate for the applicable Mortgage Loan.

  • Net Simple Interest Shortfall With respect to any Distribution Date, the excess, if any, of (a) 30 days’ interest at the weighted average (by principal balance) of the Net Mortgage Rates of the Simple Interest Mortgage Loans as of the first day of the related Due Period, as determined by the Servicer, on the aggregate principal balance of such Simple Interest Mortgage Loans for such Remittance Date, carried to six decimal places, rounded down, and calculated on the basis of a 360-day year consisting of twelve 30-day months, over (b) the amount of the payments received by the Servicer in the related Due Period allocable to interest in respect of such Simple Interest Mortgage Loans, calculated in accordance with the Simple Interest Method, net of the related Servicing Fees.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Daily Principal Shortfall means, on any date of determination, the excess of the Group One Monthly Principal Payment for the Monthly Period relating to such date over the month to date amount of Collections processed in respect of Principal Receivables for such Monthly Period allocable to investor certificates of all outstanding Series in Group One, not subject to reallocation, which are on deposit or to be deposited in the Principal Account on such date.

  • Series Principal Shortfall means with respect to any Transfer Date, the excess, if any, of (a) (i) with respect to any Transfer Date relating to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, and (ii) with respect to any Transfer Date during the Rapid Amortization Period, the Adjusted Investor Interest over (b) the Investor Principal Collections minus the Reallocated Principal Collections for such Transfer Date.

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class B Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed to the class B noteholders on that distribution date.

  • Excess Prepayment Interest Shortfall With respect to any Distribution Date, the aggregate of any Prepayment Interest Shortfalls resulting from any Principal Prepayments made on the Mortgage Loans to be included in the Aggregate Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensating Interest Payment for such Distribution Date and/or the portion of any compensating interest payments allocable to any Outside Serviced Mortgage Loan to the extent received from the related Outside Master Servicer.

  • 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.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Class A Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class A Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed or allocated to the class A noteholders or deposited into the accumulation account on that distribution date.

  • Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Principal Shortfalls shall have the meaning specified in Section 4.04.