Class PO Percentage definition

Class PO Percentage. With respect to each Class PO Mortgage Loan, the quotient of (i) 6.50% per annum minus the related Net Mortgage Rate divided by (ii) 6.50% per annum. With respect to each Class IO Mortgage Loan, 0% per annum.
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Class PO Percentage. With respect to (a) a Class PO Mortgage Loan in Subgroup II-1-1, the quotient of (i) 5.50% per annum minus the related Expense Adjusted Mortgage Rate divided by (ii) 5.50% per annum, (b) a Class PO Mortgage Loan in Group II-2, the quotient of (i) 5.75% per annum minus the related Expense Adjusted Mortgage Rate divided by (ii) 5.75% per annum, (c) a Class PO Mortgage Loan in Group II-3, the quotient of (i) 5.00% per annum minus the related Expense Adjusted Mortgage Rate divided by (ii) 5.00% per annum. With respect to each other Mortgage Loan the Trust Fund, 0%.
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Class PO Percentage. With respect to any Discount Mortgage Loan, the fraction, expressed as a percentage, equal to (5.50% - the Adjusted Net Mortgage Rate) divided by 5.50%, and (b) with respect to any Non-Discount Mortgage Loan, 0%.
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Examples of Class PO Percentage in a sentence

  • Any Excess Losses attributable to any Mortgage Loan shall be allocated among all the Certificates (other than the Class IO Certificates) as follows: the related Class PO Percentage of such Realized Losses shall be allocated to the Class PO Certificates and the related Non-Class PO Percentage of such Realized Losses in a Sub-Pool shall be allocated among the related Class A Certificates and the related Components on a PRO RATA basis.

  • If Realized Losses are on a Class PO Mortgage Loan, the Class PO Percentage of such Realized Losses will be allocated to the Class 2-PO Certificates).

  • If Realized Losses are on a Class PO Mortgage Loan, such Realized Losses will be allocated to the Class PO Certificates in an amount equal to the Class PO Percentage of the Realized Losses and the remainder of the Realized Losses will be allocated on any Distribution Date to the Class AF.

  • Any Excess Losses attributable to any Mortgage Loan shall be allocated among all the Certificates (other than the Class A-2 Certificates and the Class IO Certificates) as follows: the related Class PO Percentage of such Realized Losses shall be allocated to the Class PO Certificates and the related Non-Class PO Percentage of such Realized Losses shall be allocated among the Class A-1 Certificates and Subordinate Certificates on a PRO RATA basis.

  • Thereafter, upon the reduction of the Certificate Principal Balances of the Subordinate Certificates to zero, all Realized Losses shall be allocated among the Senior Certificates as follows: the related Class PO Percentage of such Realized Losses shall be allocated to the Class PO Certificates and the related Non-Class PO Percentage of such Realized Losses shall be allocated to the Class A-1 Certificates.

  • If Realized Losses are on a Class PO Mortgage Loan, such Realized Losses will be allocated to the Class PO Certificates in an amount equal to the Class PO Percentage of the Realized Losses and the remainder of the Realized Losses will be allocated on any Distribution Date to the Class AF-1 Certificates, if the Realized Loss is on a Group I-A Mortgage Loan and to the Class AF-2 Certificates, if the Realized Loss is on a Group I-B Mortgage Loan.

  • If Realized Losses are on a Class PO Mortgage Loan, such Realized Losses will be allocated to the Class PO Certificates in an amount equal to the Class PO Percentage of the Realized Losses and the remainder of the Realized Losses will be allocated on any Distribution Date to the Class A-1 Certificates, if the Realized Loss is on a Group I Mortgage Loan and to the Class A-2 Certificates, if the Realized Loss is on a Group II Mortgage Loan.


More Definitions of Class PO Percentage

Class PO Percentage. With respect to each Class PO Mortgage Loan, the Class PO- 1 Percentage, the Class PO-2 Percentage, the Class PO-3 Percentage or the Class PO-4 Percentage, as applicable.
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Class PO Percentage. With respect to (i) each Class PO Mortgage Loan, a fraction, expressed as a percentage (but not less than 0%), the numerator of which is 6.500% minus the Expense Adjusted Mortgage Rate, as of the Cut-off Date, for that Class PO Mortgage Loan and the denominator of which is 6.500% and (ii) each mortgage loan that is not a Class PO Mortgage Loan, 0%. Notwithstanding anything to the contrary herein, the Class PO Percentage with respect to any Qualified Substitute Mortgage Loan substituted for a Deleted Mortgage Loan shall be the Class PO Percentage of the Deleted Mortgage Loan.
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Class PO Percentage. With respect to (a) a Class PO Mortgage Loan in Subgroup 1-1, the quotient of (i) 6.00% per annum minus the related Expense Adjusted Mortgage Rate as of the Cut-off Date divided by (ii) 6.00% per annum, (b) a Class PO Mortgage Loan in Group 2, the quotient of (i) 6.00% per annum minus the related Expense Adjusted Mortgage Rate as of the Cut-off Date divided by (ii) 6.00% per annum and (c) each other Mortgage Loan in the Trust Fund, 0%. Notwithstanding anything to the contrary herein, the Class PO Percentage with respect to any Qualified Substitute Mortgage Loan substituted for a Deleted Mortgage Loan shall be the Class PO Percentage of the Deleted Mortgage Loan.
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Related to Class PO Percentage

  • Class B-4 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for such Distribution Date will be zero.

  • Class B-6 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Percentage for such Distribution Date will be zero.

  • PO Percentage As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the excess of the Required Coupon over the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is such Required Coupon. As to any Non-Discount Mortgage Loan, 0%.

  • Class B-3 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-3 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-3 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-3 Percentage for such Distribution Date will be zero.

  • Class B-2 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Percentage for such Distribution Date will be zero.