Class P Fraction definition

Class P Fraction. Any Class I-P, Class II-P or Class III-P Fraction, as applicable.

Class P Fraction. With respect to each Class P Mortgage Loan, a fraction, the numerator of which is the Required Coupon for the related Loan Group minus the Net Mortgage Rate on that Class P Mortgage Loan and the denominator of which is the Required Coupon for the related Loan Group.

Class P Fraction. For each Class P Mortgage Loan, a fraction, the numerator of which is 4.500% less the Pass-Through Rate on such Class P Mortgage Loan and the denominator of which is 4.500%.

Examples of Class P Fraction in a sentence

• The principal portion of such Realized Losses on the Class P Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the Class P Fraction thereof and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below.

• Notwithstanding anything to the contrary contained herein, on each Distribution Date on or after the Credit Support Depletion Date, the Class P Principal Distribution Amount distributable to the Class P Certificates pursuant to Section 4.02(b)(i) shall be reduced by the Class P Fraction of Realized Losses on the Class P Mortgage Loans.

• The principal portion of such Realized Losses on the Class P Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the Class P Fraction thereof and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans 87 will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below.

• The applicable Class P Fraction of any principal portion of Realized Losses attributable to a Class P Mortgage Loan shall be allocated to the related Class P-M Regular Interest in reduction of the principal balance thereof.

• As to any Distribution Date, is the percentage equivalent of a fraction, the numerator of which is the aggregate Class Principal Amount of the Group 1B Certificates immediately prior to such Distribution Date, and the denominator of which is the Pool Balance relating to Pool 1 for such Distribution Date (other than the applicable Class P Fraction of the Class P Mortgage Components).

More Definitions of Class P Fraction

Class P Fraction. Any Class 1-P or Class 2-P Fraction, as applicable.

Class P Fraction. Any of the Class I-P, Class II-P, Class III-P Fraction, Class IV-P Fraction, Class V-P Fraction or Class VI-P Fraction as applicable.

Class P Fraction. Either the Class I-P or Class II-P Fraction, as applicable.

Class P Fraction. With respect to each (a) Class P Mortgage Component in Subgroup 1-1, Subgroup 2-1 or Subgroup 4-1, a fraction, the numerator of which is the Required Coupon for the related Subgroup minus the Net Mortgage Rate on that Class P Mortgage Component and the denominator of which is the Required Coupon for the related Subgroup and (b) Class P Mortgage Loan in Pool 3, Pool 5 or Pool 6, a fraction, the numerator of which is the Required Coupon for the related Pool minus the Net Mortgage Rate on that Class P Mortgage Loan and the denominator of which is the Required Coupon for the related Pool.

Class P Fraction thereof with respect to any Class P Mortgage Loans in such Loan Group), in each case immediately prior to such Distribution Date.

Class P Fraction. Either of the Class I-P, Class II-P, Class III-P or Class IV-P Fractions, as applicable.

Class P Fraction. With respect to each (a) Class P Mortgage Component, a fraction, the numerator of which is the Required Coupon for Subgroup 1 minus the Net Mortgage Rate on that Class P Mortgage Component and the denominator of which is the Required Coupon for Subgroup 1 and (b) Class P Mortgage Loan, a fraction, the numerator of which is the Required Coupon for the related Pool minus the Net Mortgage Rate on that Class P Mortgage Loan and the denominator of which is the Required Coupon for the related Pool.