Class SES Compensating Interest definition

Class SES Compensating Interest. With respect to each Distribution Date, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class SES Components (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date less the Servicer Compensating Interest for such Distribution Date and (c) one-twelfth of 0.25% of the aggregate Pool Stated Principal Balance of all Loan Groups less the Servicer Compensating Interest for such Distribution Date.
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Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES Component in the case of Loan Group 1, the Class 2-SES and Class 4-SES Components in the case of the Crossed Loan Groups or the Class 3-SES Component in the case of Loan Group 3 (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) Loan Group 1 and Loan Group 3, in the case of the Class 1-SES and Class 3-SES Component, respectively, and (ii) the Crossed Loan Groups in the case of the Class 2-SES and Class 4-SES Components, less the Servicer Compensating Interest for such Distribution Date and the Related Loan Group or Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of such Loan Group or Loan Groups less the Servicer Compensating Interest for such Distribution Date and Loan Group or Loan Groups.
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Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES, Class 2-SES and Class 3-SES Components in the case of the 30 Year Crossed Loan Groups or the Class 4-SES and Class 5-SES Components in the case of the 15 Year Crossed Loan Groups (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) the 30 Year Crossed Loan Groups in the case of the Class 1-SES, Class 2-SES and Class 3-SES Components and (ii) the 15 Year Crossed Loan Groups in the case of the Class 4-SES and Class 5-SES Components, less the Servicer Compensating Interest for such Distribution Date and the 30 Year Crossed Loan Groups or 15 Year Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the aggregate Pool Stated Principal Balance of the 30 Year Crossed Loan Groups or 15 Year Crossed Loan Groups, respectively, less the Servicer Compensating Interest for such Distribution Date and Loan Groups.
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Examples of Class SES Compensating Interest in a sentence

  • Notwithstanding the foregoing, the distribution to the Holders of the Class SES Certificates shall be reduced by the amount of the Class SES Compensating Interest for such Distribution Date.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest and the Class 3-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, the Class 2-SES Component and the Class 3 SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest and the Class 3-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, the Class 2-SES Component and the Class 3-SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest and the Class 3-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, Class 2-SES Component and Class 3-SES Component, respectively.

  • Notwithstanding the foregoing, the distribution to the Holders of the Class SES Certificates shall be reduced by the amount of Class SES Compensating Interest for such Distribution Date.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest, the Class 3-LSES Interest and the Class 4-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, the Class 2-SES Component, the Class 3-SES Component and the Class 4-SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest and the Class 2-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component and the Class 2-SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest and the Class 3-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, Class 2-SES Component and the Class 3-SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest, the Class 2-LSES Interest and the Class 3-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component, Class 2-SES Component, Class 3-SES Component and Class 4-SES Component, respectively.

  • Distributions on each of the Class 1-LSES Interest and the Class 2-LSES Interest, respectively, shall be reduced to the extent that Class SES Compensating Interest reduces distributions to the Class 1-SES Component and Class 2-SES Component, respectively.


More Definitions of Class SES Compensating Interest

Class SES Compensating Interest. With respect to each Distribution Date and Loan Group, the least of (a) the amount distributable pursuant to Section 5.02(a)(i) on the Class 1-SES Component in the case of Loan Group 1, the Class 2-SES and Class 4-SES Components in the case of the Crossed Loan Groups, the Class 3-SES Component in the case of Loan Group 3 or the Class 5-SES Component in the case of Loan Group 5 (before any reduction in respect of Class SES Compensating Interest), (b) the Prepayment Interest Shortfall for such Distribution Date and (i) Loan Group 1, Loan Group 3 and Loan Group 5, in the case of the Class 1-SES, Class 3-SES and Class 5-SES Component, respectively, and (ii) the Crossed Loan Groups in the case of the Class 2-SES and Class 4-SES Components, less the Servicer Compensating Interest for such Distribution Date and the Related Loan Group or Crossed Loan Groups, respectively, and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of such Loan Group or Loan Groups less the Servicer Compensating Interest for such Distribution Date and Loan Group or Loan Groups.
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Related to Class SES Compensating Interest