B Component definition

B Component. One of two components of the Owner Trust Certificate issued by the Trust, which component has a Component Principal Balance and a Component Interest Rate.

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B Component. One of the five components comprising the Class X Certificates, representing a "specified portion" (within the meaning of Treasury Regulations Section 1.860G-1(a)(2)(i)(C)) of the interest payments on the Class LB Uncertificated Interest.

B Component. With respect to the Mortgage Note, that portion of the principal balance thereof corresponding to the Certificate Principal Balance of the Class B Certificates. The portion of the Closing Date Deed of Trust Loan Principal Balance allocable to the B Component is $27,000,000. Balloon Anticipated Repayment Date: December 18, 2003.

Examples of B Component in a sentence

• The B Component and the Residual Component of this Certificate are not separately transferable.

• In the event that the Class M Notes and B Component have been reduced to zero while any Class A Note is outstanding, all priorities relating to Senior Principal Distribution Amount referenced above will be disregarded.

• In no event will principal payments on any Class of Notes or the B Component on any Payment Date exceed the related Note Balance or Component Principal Balance on that date.

• Any allocation of Liquidation Loss Amounts to a Class of Notes or the Certificate in respect of the B Component, shall be made by reducing the Note Balance or Component Principal Balance thereof, as applicable, by the amount so allocated, which allocation shall be deemed to have occurred on such Payment Date.

• Interest will accrue on the Notes (other than the Class A-1 Notes) and the B Component on the basis of a 360-day year consisting of twelve 30-day months.

• All Liquidation Loss Amounts and all other losses allocated to a Class of Notes or to the Certificate in respect of the B Component hereunder, as applicable, will be allocated among the Notes or the Certificate, as applicable, of such Class in proportion to the Percentage Interests evidenced thereby.

• The interest portion of Excess Loss Amounts will be allocated to the Notes and the B Component as described in the definitions of Accrued Note Interest and Accrued Component Interest set forth in Appendix A to this Indenture.

• VERIZON will use the following guidelines to determine if facilities are Currently Available to provision a requested UNE or UNE-P.

• The subordination provided to the Senior Notes by the Class M Notes and the B Component and the subordination provided to each class of Class M Notes by the B Component and by any class of Class M Notes subordinate thereto will cover Liquidation Loss Amounts on the Home Loans.

• For the purposes of determining distributions of interest and in reduction of Principal Balance, the Class A-6 Certificates consist of four components (each, a "Component" and individually, the "Class A-6 IO A Component," the "Class A-6 IO B Component," the "Class A-6 PAC Component" and the "Class A-6 Scheduled Accrual Component").