Yield Maintenance Distributable Amount definition

Yield Maintenance Distributable Amount. With respect to each Distribution Date and each of the Yield Maintenance Agreements, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 11.00%, over (y) the applicable Strike Rate, (ii) the related Yield Maintenance Notional Balance and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Class 2-A3, Class 2-A4A and Class 2-A4B Certificates and the Class 3-A2 Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 10.50%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of Class 2-A3, Class 2-A4A and Class 2-A4B Certificates or Class 3-A2 Certificates, as applicable, on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B and Class 2-A-1C Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 11.00%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of the related Class or Classes of Certificates on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Examples of Yield Maintenance Distributable Amount in a sentence

• If the Seller or its affiliate is the Holder of an Offered Certificate, the Seller or its affiliate shall remit to the Trustee the portion of Yield Maintenance Distributable Amount received by the Holder of such Certificate on any Distribution Date, and the Trustee shall remit such amounts to the Yield Maintenance Provider.

• Under the Yield Maintenance Agreement and for each Distribution Date, the Class Y Certificates shall be entitled to a distribution equal to the sum of (i) such excess and (ii) the excess of the related Yield Maintenance Distributable Amount over the amount of unpaid Basis Risk Shortfalls with respect to the related Certificates.

• Pursuant to the Yield Maintenance Allocation Agreement, the Administrator shall establish and maintain (i) the Yield Maintenance Trust into which it shall deposit the Yield Maintenance Agreement and (ii) the Yield Maintenance Trust Account into which, on the day prior to each Distribution Date, it will deposit the Yield Maintenance Distributable Amount, if any, paid by the Yield Maintenance Provider pursuant to the Yield Maintenance Agreement.

• Under each Yield Maintenance Agreement and for each Distribution Date, the Class Y Certificates shall be entitled to a distribution equal to the sum of (i) such excess and (ii) the excess of the related Yield Maintenance Distributable Amount over the amount of unpaid Basis Risk Shortfalls with respect to the related Certificates.

• For any Distribution Date on which there is a payment under a Yield Maintenance Agreement and such Yield Maintenance Payment exceeds the related Yield Maintenance Distributable Amount, the amount representing such excess payment shall not be an asset of the Trust Fund and, instead, shall be paid into and distributed out of a separate trust created by this Agreement for the benefit of the Class Y Certificates and shall be distributed to the Class Y Certificates pursuant to this Section 4.04.

More Definitions of Yield Maintenance Distributable Amount

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the LIBOR Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to the applicable cap ceiling set forth on Schedule I to the Yield Maintenance Agreement over (y) the applicable Cap Rate, (ii) the related Yield Maintenance Notional Balance, (iii) 250 and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Class 2-A-1A, Class 2-A-1B, Class 2-A-1C and Class 2-A-2 Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 10.50%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of the related Class or Classes of Certificates on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Subordinate Certificates, an amount equal to the product of (i) the excess, if any, of (x) One-Month LIBOR, subject to a maximum of 11.00%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Class Certificate Principal Balance of the Subordinate Certificates on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Class 3A-1 and Class 3A-2 Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 10.50%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of the Class 3A-1 and Class 3A-2 Certificates on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 10.50%, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of the related Certificates on the first day of the related Accrual Period, accrued during the related interest Accrual Period for the Class A-1, Class X-0, Xxxxx X-0, Class M-1, Class M-2 and Class M-3 Certificates and (iii) a fraction, (A) with respect to the Class A-1 Certificates, the numerator of which is 30 and the denominator of which is 360 and (B) with respect to the Class X-0, Xxxxx X-0, Class M-1, Class M-2 and Class M-3 Certificates, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. With respect to each Distribution Date and the Class 1-A1A, Class 2-A1A, Class 2-A1B, Class 2-A2A and Class 2-A2B Certificates, an amount equal to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum of 10.50%, in the case of the Class 1-A1A Certificates and 11.00%, in the case of the Class 2-A1A, Class 2-A1B, Class 2-A2A and Class 2-A2B Certificates, over (y) the applicable Strike Rate, (ii) the lesser of (a) the related Yield Maintenance Notional Balance and (b) the aggregate Certificate Principal Balance of the related Class or Classes of Certificates on the first day of the related Accrual Period and (iii) a fraction, the numerator of which is the actual number days in the related interest Accrual Period and the denominator of which is 360.

Yield Maintenance Distributable Amount. Not applicable.