Unpaid Interest Shortfall Amount. With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.
Unpaid Interest Shortfall Amount. For (i) the first Distribution Date and with respect to the Senior Certificates and the Mezzanine Certificates, zero, and for such Class of Certificates and any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class of Certificates for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class of Certificates for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class of Certificates in respect of interest on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Class of Certificates on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate on such Distribution Date for such Class of Certificates for the related Interest Accrual Period.
Unpaid Interest Shortfall Amount. With respect to each Class of Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (1)(a) the Monthly Interest Distributable Amount for that Class for the immediately preceding Distribution Date exceeds (b) the aggregate amount distributed on that Class in respect of such Monthly Interest Distributable Amount on the preceding Distribution Date plus (2) any such shortfalls remaining unpaid from prior Distribution Dates.
Examples of Unpaid Interest Shortfall Amount in a sentence
CLASS AIO MONTHLY INTEREST The "Class AIO Monthly Interest Distributable DISTRIBUTABLE AMOUNT: Amount" means, for any Distribution Date, the Class AIO Current Interest for that Distribution Date plus any Class AIO Unpaid Interest Shortfall Amount on that Distribution Date.
MONTHLY INTEREST The "Monthly Interest Distributable Amount" for DISTRIBUTABLE AMOUNT: any Distribution Date and the Offered Certificates (other than the Class AIO Certificates and Class P Certificates) and the Class B Certificates, is the sum of (a) the Unpaid Interest Shortfall Amount for that class and Distribution Date and (b) the Current Interest for that class and Distribution Date.
In the event of a shortfall in the full amount necessary to pay both the Unpaid Interest Shortfall Amount and the current interest for a class, distributions will first be applied to the Unpaid Interest Shortfall Amount and then to the Current Interest.
Unpaid Interest Shortfall Amount For any Class of Offered Certificates, the sum of Relief Act Interest Shortfalls and net prepayment interest shortfalls on the mortgage loans allocated to such Class of Offered Certificates on that Distribution Date and such amounts from any prior Distribution Date remaining unpaid.
The IWMC reserves the right to disapprove large events upon application receipt if the event is scheduled within seven (7) days of an already scheduled large exterior event.
More Definitions of Unpaid Interest Shortfall Amount
Unpaid Interest Shortfall Amount. With respect to each Class of Certificates, the sum of Relief Act Interest Shortfalls and net prepayment interest shortfalls on the Mortgage Loans allocated to such Class of Certificates on that Distribution Date and such amounts from any prior Distribution Date remaining unpaid.
Unpaid Interest Shortfall Amount. With respect to each Class of Certificates (or, with respect to the Class X-1 Certificates, the X-1 IO-1 and X-1 IO-2 Components and with respect to the Class X-2 Certificates, the X-2 IO Component) and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (1)(a) the Monthly Interest Distributable Amount for that Class or Interest-Only Component for the immediately preceding Distribution Date exceeds (b) the aggregate amount distributed on that Class or Interest-Only Component in respect of such Monthly Interest Distributable Amount on the preceding Distribution Date plus (2) any such shortfalls remaining unpaid from prior Distribution Dates.
Unpaid Interest Shortfall Amount. For (i) the first Distribution Date and with respect to the Senior Certificates, the Mezzanine Certificates and the Class B-IO Certificates, zero, and for such Class of Certificates and any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class of Certificates for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class of Certificates for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class of Certificates in respect of interest on such preceding Distribution Date, plus (except with respect to the Class A-IO and Class B-IO Certificates) interest on the amount of interest due but not paid on the Class of Certificates on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate on such Distribution Date for such Class of Certificates for the related Accrual Period.
Unpaid Interest Shortfall Amount. With respect to each Class of Class A Certificates and Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the sum of (a) the Unpaid Interest Shortfall Amount for that Class as of the prior Distribution Date, (b) the excess of the amount of the Current Interest due with respect to that Class on the prior Distribution Date over the amount actually distributed to the Holders of that Class on account of the Current Interest on the prior Distribution Date and (c) interest on the sum of (a) and (b) to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.
Unpaid Interest Shortfall Amount. With respect to each Class of Certificates (other than the Class C, Class ES, Class P, Class R and Class R-II Certificates) and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (1)(a) the Monthly Interest Distributable Amount for that Class for the immediately preceding Distribution Date exceeds (b) the aggregate amount distributed on that Class in respect of such Monthly Interest Distributable Amount on the preceding Distribution Date plus (2) any such shortfalls remaining unpaid from prior Distribution Dates.
Unpaid Interest Shortfall Amount. With respect to each Class of Underwritten Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the sum of (a) the Unpaid Interest Shortfall Amount for that Class as of the prior Distribution Date, (b) the excess of the amount of the Current Interest due with respect to that Class on the prior Distribution Date over the amount actually distributed to the Holders of that Class on account of the Current Interest on the prior Distribution Date and (c) interest on the sum of (a) and (b) to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.
Unpaid Interest Shortfall Amount. For each class of Offered Certificates (other than the Class C and Class P Certificates) and any Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the applicable Pass-Through Rate for such Class for the related Accrual Period.