Class Notional Balance definition

Class Notional Balance. With respect to each Distribution Date and the related Interest Accrual Period and the Class A-IO Certificates, the lesser of (a) the Pool Balance as of the first day of the related Due Period and (b) the amount set forth in the schedule in Exhibit Z for such Distribution Date.

Class Notional Balance. Not applicable.

Class Notional Balance. With respect to any Class of Interest-Only Certificates and any Distribution Date, the Class 2-X Notional Balance.

Examples of Class Notional Balance in a sentence

• The percentage interest (which may be expressed as a fraction) evidenced by any Security, which is equal to a fraction, the numerator of which is the initial principal [(or notional)] balance of such Security, and the denominator of which is the initial Class Principal Balance [(or Class Notional Balance)] of all Securities of the same Class.

• The percentage interest (which may be expressed as a fraction) evidenced by any Certificate, which is equal to a fraction, the numerator of which is the initial principal [(or notional)] balance of such Certificate, and the denominator of which is the initial Class Certificate Principal Balance [(or Class Notional Balance)] of all Certificates of the same Class.

• The Class A Bonds shall be issued in minimum denominations of $25,000 in principal balance in increments of $1 in excess thereof, and the Class AX Bonds shall be issued in certificated fully-registered form in minimum denominations of $100,000 in Class Notional Balance and, in each case, integral multiples of $1,000 in excess thereof.

• Each Class of Book Entry Bonds shall be evidenced by a single Bond representing the initial Class Current Principal Balance or initial Class Notional Balance, as applicable, of such Class of Bonds as of the Closing Date.

• Interest accruing on each Class of Bonds during each Interest Accrual Period will be calculated on the assumption that principal payments on, and allocations of losses to, such Bonds are made (or, if applicable, the related Class Notional Balance is reduced) on the last day of the preceding Interest Accrual Period, and not on the following Payment Date when actually made (or reduced).

More Definitions of Class Notional Balance

Class Notional Balance. With respect to each Distribution Date, the related Accrual Period and the Class A-IO Certificates, the sum of the Component Notional Balances of the A-IO(1) Component and the A-IO(2) Component for such Distribution Date.

Class Notional Balance. As of any date of determination, an amount equal to the sum of (i) the Class ___ Notional Component ___ and (ii) the Certificate Balances of the Class ___ Certificates, the Class ___ Certificates, the Class ___ Certificates, the Class ___ Certificates, the Class ___ Certificates, the Class ___ Certificates, the Class ___ Certificates and the Class ___ Certificates.

Class Notional Balance. As of any date of determination, an amount equal to the Certificate Principal Balance of the Class Certificates.

Class Notional Balance. With respect to each Distribution Date and the related Accrual Period, and (i) the Class A-IO Certificates, the sum of the Component Notional Balances of the A-IO(1) Component and the A-IO(2) Component for such date and (ii) the Class F Certificates (a) for each Distribution Date through March 2009, the aggregate Principal Balance of the Class F Mortgage Loans as of the first day of the related Due Period and (b) for each Distribution Date thereafter, $0.

Class Notional Balance. With respect to the Class X Certificates and any Distribution Date, the aggregate Class Principal Balance of the LIBOR Certificates and the Class PO Certificates at the end of the related Due Period.

Class Notional Balance. With respect to each Payment Date and the Class A-4 IO Notes, through and including July 20, 2000, the Class Principal Balance of the Class A-4 Notes on the immediately preceding Payment Date, or, in the case of the first Payment Date, on the Closing Date; with respect to each Payment Date after July 20, 2000, zero.

Class Notional Balance. For any Distribution Date (a) with respect to the Class A-X1, Class A-X2, Class A-X3 and Class A-X4 Certificates for any Distribution Date to and including the Initial Optional Call Date, the Class Principal Balance of the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, respectively, for such date, and for any Distribution Date thereafter, zero; and (b) with respect to the Class A-IO Certificates for any Distribution Date to and including the Initial Optional Call Date, the aggregate of the principal balances of the Non-Discount Mortgage Loans for such date, and for any Distribution Date thereafter, the aggregate of the principal balances of the Mortgage Loans for such date.