Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) if the Pass-Through Rate for such Class for such Distribution Date is limited to the related Net Rate Cap, the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to the related One-Month LIBOR Pass-Through Rate, over (b) the amount of Current Interest that such Class received on such Distribution Date at the related Net Rate Cap for such Distribution Date and (B) the Basis Risk Shortfall Carry Forward Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate the current Distribution Date. Bankruptcy Code: Title 11 of the United States Code.
Basis Risk Shortfall Carry Forward Amount. With respect to each Class of Bonds and any Payment Date, as determined separately for each Class of Bonds, an amount equal to the aggregate amount of Basis Risk Shortfall for such Bonds on such Payment Date, plus any unpaid Basis Risk Shortfall for such Class of Bonds from prior Payment Dates, plus interest thereon at the Bond Interest Rate for such Payment Date, to the extent previously unreimbursed by the related Derivative Contracts or by related Net Monthly Excess Cash Flow.
Examples of Basis Risk Shortfall Carry Forward Amount in a sentence
The amount of Current Interest that such class received on such distribution date at the related Net Rate Cap for such distribution date (such excess being the “Basis Risk Shortfall” for such distribution date); and • the Basis Risk Shortfall Carry Forward Amount for the previous distribution date not previously paid, together with interest thereon at a rate equal to the applicable Pass- Through Rate for the current distribution date.
The fourth section was designed to provide in unstructured exploratory manner information on regulatory challenges facing Islamic banks.
Each Certificate, other than the Class P, Class CE and Class R Certificates, represents ownership of a Regular Interest in REMIC III and also represents (i) the right to receive payments with respect to the Basis Risk Shortfall Carry Forward Amount (as defined herein) and (ii) the obligation to pay Class IO Distribution Amounts (as defined herein).
All payments of amounts in respect of Basis Risk Shortfall or Basis Risk Shortfall Carry Forward Amount made pursuant to the provisions of this paragraph (a) shall, for federal income tax purposes, be deemed to have been distributed from REMIC II to the holder of the Class B-IO Certificates and then paid outside of any 2005-1 REMIC to the recipients thereof pursuant to an interest rate cap contract.
More Definitions of Basis Risk Shortfall Carry Forward Amount
Basis Risk Shortfall Carry Forward Amount. With respect to each Class of Bonds and any Payment Date, as determined separately for each Class of Bonds, an amount equal to the aggregate amount of Basis Risk Shortfall for such Bonds on such Payment Date, plus any unpaid Basis Risk Shortfall for such Class of Bonds from prior Payment Dates, plus interest thereon at the Bond Interest Rate for such Payment Date, to the extent previously unreimbursed by the Derivative Contracts or by Net Monthly Excess Cash Flow.
Basis Risk Shortfall Carry Forward Amount. Any Class A Basis Risk Shortfall Carry-Forward Amount or Class M Basis Risk Shortfall Carry-Forward Amount.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and any Class of Class A, Class M and Class B Certificates, an amount equal to the sum of (A) if the Pass-Through Rate for such Class for such Distribution Date is limited to the related Net Rate Cap, the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class not been reduced by the applicable Net Rate Cap on such Distribution Date, over (b) the amount of Current Interest that such Class received on such Distribution Date and (B) the Basis Risk Shortfall Carry Forward Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for the current Distribution Date.
Basis Risk Shortfall Carry Forward Amount. As of any Distribution Date and for any Class of Adjustable Rate Certificates, the sum of: (i) if on such Distribution Date the applicable Pass-Through Rate for such Class is based upon the applicable Interest Rate Cap, the applicable Basis Risk Shortfall; and (ii) the Basis Risk Shortfall for all previous Distribution Dates not previously paid (including interest accrued thereon at the applicable Pass-Through Rate for the Accrual Period with respect to each such prior Distribution Date), together with interest thereon at a rate equal to the applicable Pass-Through Rate for such Distribution Date.
Basis Risk Shortfall Carry Forward Amount. With respect to any Distribution Date and each Class of Offered Certificates, Basis Risk Shortfalls for all previous Distribution Dates not previously paid from any source including the Excess Cashflow and payments under the Cap Contracts, together with interest thereon at a rate equal to the related Pass-Through Rate for such Class of Offered Certificates for such Distribution Date. Book-Entry Certificates: Initially, all Classes of Certificates other than the Class B-IO, Class XP and the Residual Certificates.
Basis Risk Shortfall Carry Forward Amount. With respect to each class of Offered Certificates and any Distribution Date, as determined separately for each such class of Offered Certificates, an amount equal to the aggregate amount of Basis Risk Shortfall for such Certificates on such Distribution Date, plus any unpaid Basis Risk Shortfall for such class of Certificates from prior Distribution Dates, plus interest thereon at the Pass-Through Rate for such Distribution Date, to the extent previously unreimbursed by the Net Monthly Excess Cashflow or the Corridor Contract.
Basis Risk Shortfall Carry Forward Amount. With respect to the Class M-II-1, Class M-II-2, Class M-II-3, Class M-II-4 and Class M-II-5 Certificates and any Distribution Date, the sum of (a) the aggregate amount of Class M-II Basis Risk Shortfall for each such Class on such Distribution Date plus (b) any Class M-II Basis Risk Shortfall Carry-Forward Amount for such Classes remaining unpaid from the preceding Distribution Date, plus (c) one month's interest on the amount in clause (b) (based on the number of days in the preceding Interest Accrual Period), to the extent previously unreimbursed by Group I Excess Cash Flow pursuant to Section 4.02(c)(xvii) or Group II Excess Cash Flow pursuant to Section 4.02(d)(xviii), at a rate equal to the related Pass- Through Rate.