Class B-1 Unpaid Interest Shortfall definition
Class B-1 Unpaid Interest Shortfall. As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).
Class B-1 Unpaid Interest Shortfall. As to any Remittance Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfalls for prior Remittance Dates exceeds the aggregate of the amounts distributed on the Class B-1 Certificates on prior Remittance Dates in respect of such Interest Shortfalls, plus accrued interest (to the extent payment thereof is legally permissible) at the Class B-1 Remittance Rate on the amount thereof from such prior Remittance Date to such current Remittance Date. For purposes of determining whether amounts distributable pursuant to clause (b) of the definition of "Class B-1 Interest Formula Distribution Amount" were actually distributed on the Class B-1 Certificates on any particular Remittance Date, the distribution of interest on the Class B-1 Certificates on such Remittance Date shall be allocated first to the monthly interest requirement calculated pursuant to clause (a) of such definition and then to any Class B-1 Unpaid Interest Shortfall pursuant to clause (b) of such definition.
Class B-1 Unpaid Interest Shortfall. As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfalls for prior Distribution Dates exceeds all prior distributions made pursuant to Section 5.02 in respect of prior Class B-1 Interest Shortfalls, plus accrued interest thereon (to the extent payment thereof is legally permissible) at the Class B-1 Pass-Through Rate on such amount with respect to such prior Distribution Dates.
Examples of Class B-1 Unpaid Interest Shortfall in a sentence
I-13 Class B-1 Unpaid Interest Shortfall................................................................
As to any Remittance ---------------------------------------------- Date, an amount equal to the sum of (a) interest accrued during the related Interest Period at the Class B-1 Remittance Rate on the Class B-1 Principal Balance as of such Remittance Date (before giving effect to the distribution on such Remittance Date) and (b) any Class B-1 Unpaid Interest Shortfall.
More Definitions of Class B-1 Unpaid Interest Shortfall
Class B-1 Unpaid Interest Shortfall. With respect to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfalls for prior Distribution Dates exceeds all prior distributions made pursuant to Section 4.02(a) in respect of prior Class B-1 Interest Shortfalls, plus accrued interest thereon (to the extent payment thereof is legally permissible) during the related Accrual Period at the Class B-1 Pass-Through Rate on such amount with respect to such prior Distribution Dates. Amounts paid in respect of the Class B-1 Unpaid Interest Shortfall shall be deemed to have been applied, first, to pay the portion, if any, thereof other than the Class B-1 Excess Optimal Interest Carryforward Amount and, second, to pay the Class B-1 Excess Optimal Interest Carryforward Amount.
Class B-1 Unpaid Interest Shortfall. As to any Distribution Date and the Class B-1 Certificates, the amount of the Class B-1 Interest Shortfall for the immediately preceding Distribution Date.
Class B-1 Unpaid Interest Shortfall means, with respect to any Distribution Date, the amount, if any, by which the aggregate Class B-1 Interest Shortfalls for prior Distribution Dates exceeds the aggregate of the amounts distributed to the Class B-1 Certificateholders on prior Distribution Dates in respect of amounts due under clause (ii) of the definition of "Class B-1 Interest Formula Distribution Amount", plus accrued interest (to the extent payment thereof is legally permissible) at the Class B-1 Pass-Through Rate on the amount thereof from such prior Distribution Dates to such current Distribution Date. For purposes of determining whether amounts distributable pursuant to such clause (ii) were actually distributed to Class B-1 Certificateholders on any Distribution Date, the distribution of interest to Class B-1 Certificateholders on such Distribution Date shall be allocated first to the monthly interest requirement calculated pursuant to clause (i) of the definition of "Class B-1 Interest Formula Distribution Amount" and then to any Class B-1 Unpaid Interest Shortfall pursuant to such clause (ii).