Uncollected Interest. With respect to any Distribution Date for any Mortgage Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month’s interest at the applicable Pass-Through Rate on such Mortgage Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff.
Uncollected Interest. With respect to any Distribution Date, the sum of (i) the aggregate Prepayment Interest Shortfalls with respect to the Loans for such Distribution Date and (ii) the aggregate Curtailment Shortfalls with respect to the Loans for such Distribution Date.
Uncollected Interest. With respect to any Distribution Date for any Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month's interest at the applicable Pass-Through Rate on such Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff.
Examples of Uncollected Interest in a sentence
Allowance for Uncollected Interest -Interest is not recognized on loans deemed to be uncollectible.
More Definitions of Uncollected Interest
Uncollected Interest. With respect to any Distribution Date (a) for any WMB Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month’s interest at the applicable Pass-Through Rate on such WMB Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff and (b) for any Countrywide Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, an amount equal to one month’s interest at the applicable Pass-Through Rate on such Countrywide Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff.
Uncollected Interest. With respect to any Distribution Date for any WMB Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month’s interest at the applicable Pass-Through Rate on such WMB Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff and (b) for any GreenPoint Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, an amount equal to one month’s interest at the applicable Pass-Through Rate on such GreenPoint Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff.
Uncollected Interest means interest that is accrued on a credit facility, and is held in a suspense account.
Uncollected Interest. With respect to any Distribution Date for any Mortgage Loan on which a Payoff or Curtailment was made by a Mortgagor during the related Collection Period, any shortfall in interest collections during such Collection Period resulting from the timing of a Payoff made other than on the related Due Date or resulting from a Curtailment.
Uncollected Interest. With respect to each Series and any Distribution Date for any PNC Mortgage Loan or PHH Mortgage Loan in respect of which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month's interest at the applicable Net Mortgage Rate for such Mortgage Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff. With respect to each Series and any Distribution Date for any IndyMac Mortgage Loan in respect of which a Payoff was made by a Mortgagor during the related Prior Period, an amount equal to one month's interest at the applicable Net Mortgage Rate
Uncollected Interest. With respect to any Distribution Date, the sum of (i) the aggregate Prepayment Interest Shortfalls with respect to the Loans for such Distribution Date and (ii) the aggregate Curtailment Shortfalls with respect Uncompensated Interest Shortfall : For any Distribution Date, the excess, if any, of (i) the sum of (a) the related Uncollected Interest for such Distribution Date, and (b) any shortfall in interest collections for the Loans in the calendar month immediately preceding such Distribution Date resulting from a Relief Act Interest Shortfall over (ii) the aggregate Compensating Interest paid by the Servicers and the Master Servicer with respect to the Loans for such Distribution Date, which excess shall be allocated to each Class of Certificates, pro rata, according to the amount of interest accrued thereon in reduction thereof. Underwriter : Deutsche Bank Securities Inc. Underwriters’ Exemption: Prohibited Transaction Exemption 2002-41, 67 Fed. Reg. 54487 (2002), as amended (or any successor thereto), or any substantially similar administrative exemption granted by the U.S. Department of Labor.
Uncollected Interest. With respect to any Distribution Date the sum of (i) the aggregate Prepayment Interest Shortfall for such Distribution Date and (ii) the aggregate Curtailment Shortfall for such Distribution Date.