Total Monthly Excess Spread definition

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicers on or prior to the related Determination Date (other than Prepayment Interest Excesses) or advanced by the Servicers for the related Remittance Date (net of Expense Fees) over (ii) the sum of (A) the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date, (B) any Net Swap Payments to the Swap Provider and (C) any Swap Termination Payment (other than a Defaulted Swap Termination Payment that is not a Senior Defaulted Swap Termination Payment) to the Swap Provider.

Total Monthly Excess Spread. As applicable, the Group I Total Monthly Excess Spread or the Group II Total Monthly Excess Spread.

Examples of Total Monthly Excess Spread in a sentence

• Operational Local Service Area an offender or offenders, particularly those assessed as high risk of re-offending, who are on a waiting list for a period of time.

• On each distribution date, the Trustee, on behalf of the Supplemental Interest Trust, may receive certain net amounts from the Swap Provider, from which distributions to the trust will be made as described in this prospectus supplement in respect of Unpaid Interest Amounts, Net WAC Cap Carry Forward Amount and amounts necessary to maintain the required level of overcollateralization and to cover Realized Losses, in each case to the extent not covered by Total Monthly Excess Spread .

• Any amount of Total Monthly Excess Spread actually applied as an accelerated payment of principal will be an Extra Principal Distribution Amount for that distribution date.

• The application of Total Monthly Excess Spread to the payment of Extra Principal Distribution Amount and, to the extent available, the application of the Net Swap Amounts payable to the Supplemental Interest Trust by the Swap Provider under the Interest Rate Swap Agreement to make payments of principal on the Offered Certificates will have the effect of accelerating the amortization of the certificates relative to the amortization of the mortgage loans.

• The pooling and servicing agreement will require that the Total Monthly Excess Spread, if any, on each distribution date and, to the extent available, Net Swap Amounts payable to the Supplemental Interest Trust by the Swap Provider under the Interest Rate Swap Agreement be applied as an accelerated payment of principal of the certificates, but only to the limited extent hereafter described.

More Definitions of Total Monthly Excess Spread

Total Monthly Excess Spread. For any Distribution Date, the excess of (i) Available Funds during the related Remittance Period over (ii) the sum of the amounts paid to the Certificates on the Distribution Date pursuant to Sections 4.02(I)(a) and (b), assuming for purposes of this calculation that the Extra Principal Distribution Amount included in such distributions is equal to zero.

Total Monthly Excess Spread. The Fixed Rate Group Total Monthly Excess Spread or the Adjustable Rate Group Total Monthly Excess Spread, as the case may be.

Total Monthly Excess Spread. With respect to any Payment Date, the excess of (i) the aggregate of all interest which is collected on the Home Equity Loans during the related Remittance Period (net of the Servicing Fee, the Indenture Trustee Fee and the Indenture Trustee Reimbursable Expenses) plus (x) any Delinquency Advances and (y) Compensating Interest paid by the Servicer for such Remittance Period over (ii) the sum of the Current Interest and the Premium Amount for such Payment Date.

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) and plus any Cap Payments and Net Swap Receipts and less any Net Swap Payments and Swap Termination Payments, other than Defaulted Swap Termination Payments, payable to the Swap Provider from Available Funds for such Distribution Date, over (ii) the sum of the interest payable to the LIBOR Certificates on such Distribution Date pursuant to Section 4.02(a)(i), provided however that Net Swap Receipts and Cap Payments shall be included in Total Monthly Excess Spread (and correspondingly any Extra Principal Distribution Amount) only to the extent of current or prior Realized Losses not previously reimbursed.

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicers on or prior to the related Determination Date or advanced by the Servicers for the related Remittance Date (net of Expense Fees) and plus any Net Swap Receipts and less any Net Swap Payments and Swap Termination Payments, other than Defaulted Swap Termination Payments, for such Distribution Date, over (ii) the sum of the interest payable to the LIBOR Certificates on such Distribution Date pursuant to Section 4.02(a)(i), provided however that Net Swap Receipts shall be included in Total Monthly Excess Spread (and correspondingly any Extra Principal Distribution Amount) only to the extent of current or prior Realized Losses not previously reimbursed.

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest collected (prior to the related Remittance Date) or advanced on the Mortgage Loans for Due Dates during the related Due Period (net of Expense Fees) plus the Net Swap Receipt Amount and minus any Net Swap Payment Amount over (ii) the sum of the interest payable to the Principal Certificates on such Distribution Date pursuant to Section 4.01(a)(i); provided, that Net Swap Receipts shall be included in Total Monthly Excess Spread (and correspondingly, in Extra Principal Distribution Amount) only to the extent of current or prior Realized Losses not previously reimbursed.

Total Monthly Excess Spread. As to any Distribution Date, an amount equal to the excess if any, of (i) the interest collected (prior to the Remittance Date) or advanced on the Mortgage Loans for Due Dates during the related Due Period (net of Expense Fees, Premium Amount and Reimbursement Amounts, if any) over (ii) the sum of the interest payable to the Classes of Floating Rate Certificates on such Distribution Date.