Required Class A Certificate Interest Distribution Amount definition

Required Class A Certificate Interest Distribution Amount means, subject to Section 1.02 of the Standard Terms, with respect to any Class A Certificate and for any Payment Date, the aggregate of the amounts of interest accrued for each day in the Accrual Period related to such Payment Date, at the Reset Rate in effect on each such day, on the Current Certificate Balance of such Certificate for each such day.

Required Class A Certificate Interest Distribution Amount means, subject to Section 1.02 of the Standard Terms, with respect to any Class A Certificate and for any Payment Date, the aggregate of the amounts of interest accrued, for each day in the Accrual Period related to such Payment Date, at the Reset Rate in effect on each such day, on the Current Certificate Balance of such Certificate for each such day.

Required Class A Certificate Interest Distribution Amount means, subject to Section 1.02 of the Standard Terms, with respect to any Class A Certificate and for any Payment Date, the aggregate of the amounts of interest accrued for each day in the Accrual Period related to such Payment Date, at the Reset Rate or Term Extended Rate, as applicable, in effect on each such day, on the Current Certificate Balance of such Certificate for each such day; provided, however, upon the occurrence of a FLO Failed Remarketing Event, the Required Class A Certificate Interest Distribution Amount for FLO Reset Rate Class A Certificates shall be determined as set forth in Section 5.02(c)(ii) of the Standard Terms.

Examples of Required Class A Certificate Interest Distribution Amount in a sentence

• The Administrator may, but need not, make Administrator Advances to Holders of Class A Certificates on a Payment Date in an amount up to the Required Class A Certificate Interest Distribution Amount for the prior Accrual Period.

• However, if interest on any Bond is calculated as if each year consisted of twelve 30-day months, and if the computation of any Required Class A Certificate Interest Distribution Amount on the basis of the actual number of days elapsed would result in an amount in excess of the interest due on the related Bonds for the applicable period, then the Required Class A Certificate Interest Distribution Amount will be reduced by the amount of such excess.

• However, if interest on any Asset is calculated as if each year consisted of twelve 30-day months, and if the computation of any Required Class A Certificate Interest Distribution Amount on the basis of the actual number of days elapsed would result in an amount in excess of the interest due on the related Assets for the applicable period, then the Required Class A Certificate Interest Distribution Amount will be reduced by the amount of such excess.