CLASS M-1 UNPAID INTEREST SHORTFALL definition

CLASS M-1 UNPAID INTEREST SHORTFALL. As to any Remittance Date, the amount, if any, by which the aggregate of the Class M-1 Interest Shortfalls for prior Remittance Dates exceeds the aggregate of the amounts distributed on the Class M-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 M-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 M-1 Interest Formula Distribution Amount" were actually distributed on the Class M-1 Certificates on any particular Remittance Date, the distribution of interest on the Class M-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 M-1 Unpaid Interest Shortfall pursuant to clause (b) of such definition.
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CLASS M-1 UNPAID INTEREST SHORTFALL. With respect to any Distribution Date, the amount, if any, by which the aggregate of the Class M-1 Interest Shortfalls for prior Distribution Dates exceeds all prior distributions made pursuant to Section 4.02(a) in respect of prior Class M-1 Interest Shortfalls, plus accrued interest thereon (to the extent payment thereof is legally permissible) during the related Accrual Period at the Class M-1 Pass-Through Rate on such amount with respect to such prior Distribution Dates.
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CLASS M-1 UNPAID INTEREST SHORTFALL. As to any Distribution Date, the ----------------------------------- amount, if any, by which the aggregate of the Class M-1 Interest Shortfalls for prior Distribution Dates exceeds all prior distributions made pursuant to Section 5.02 in respect of prior Class M-1 Interest Shortfalls, plus accrued interest thereon (to the extent payment thereof is legally permissible) at the Class M-1 Pass-Through Rate on such amount with respect to such prior Distribution Dates.
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Related to CLASS M-1 UNPAID INTEREST SHORTFALL

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Class B-5 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-5 Certificates on prior Distribution Dates pursuant to Paragraph eighteenth of Section 4.01(a).

  • Class B-6 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-first of Section 4.01(a).

  • Class B-4 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-4 Certificates on prior Distribution Dates pursuant to Paragraph fifteenth of Section 4.01(a).