Class X-2 Strip Rate. With respect to (a) any Distribution Date through and including the February 2006 Distribution Date, the amount, if any, by which (i) the lesser of (x) the rate per annum corresponding to such Distribution Date as set forth in Schedule III hereto or (y) the Weighted Average Net Mortgage Rate for such Distribution Date exceeds (ii) the Class A-1 Pass-Through Rate for such Distribution Date and (b) any Distribution Date thereafter, zero.
Class X-2 Strip Rate means, with respect to each of the Class X-2 Components for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the related Class X-2 Component Crossover Date, the excess, if any, of (x) the lesser of (i) the rate per annum corresponding to such Distribution Date as set forth in Schedule IX attached hereto and (ii) the Weighted Average REMIC I Net Mortgage Rate for such Distribution Date over (y) the Pass Through Rate for the Class of Corresponding Certificates (provided that, in no event shall any Class X-2 Strip Rate be less than zero), and (ii) for any Distribution Date occurring after the related Class X-2 Component Crossover Date, 0% per annum.
Class X-2 Strip Rate. As defined in Section 2.17(f).
Examples of Class X-2 Strip Rate in a sentence
For this purpose, interest distributed on the Class X-1 Certificates and Class X-2 Certificates shall be treated as having been paid to their respective Components pro rata, based on the interest accrued with respect thereto at its Class X-1 Strip Rate or Class X-2 Strip Rate.
For this purpose, interest distributed on the Class X-1 Certificates and Class X-2 Certificates shall be treated as having been paid to their respective Components, pro rata, based on the interest accrued with respect thereto at its Class X-1 Strip Rate or Class X-2 Strip Rate.
The Class X-2 Strip Rate in respect of any such class or component will, in general, equal the lesser of (i) the corresponding rate set forth on Schedule A less the Class A-2, Class B, Class C, Class D and Class E Pass-Through Rates, respectively, and (ii) the excess, if any, of the Weighted Average Net Mortgage Rate for such Distribution Date over the Pass-Through Rate for such Class of Certificates or such Component.
Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on the REMIC II Regular Interests, which reduction shall be allocated pro rata based on the product of the Certificate Balance of such REMIC II Regular Interest and the sum of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to the Class of Certificates relating to such REMIC II Regular Interest.
Realized Interest Losses allocated to the Class X-1 and Class X-2 Certificates shall reduce the amount of interest payable on each REMIC II Regular Interest, which reduction shall be allocated pro rata based on the product of the Certificate Balance of such REMIC II Regular Interest and the sum of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to the Class of Certificates relating to such REMIC II Regular Interest.
More Definitions of Class X-2 Strip Rate
Class X-2 Strip Rate. With respect to each Class X-2 Components for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the Class X-2 Termination Date, the lesser of (A) the Weighted Average Net Mortgage Rate for such Distribution Date, minus the sum of (y) the Pass-Through Rate for the Related Certificates and (x) 0.01% (1 basis point) (provided that in no event shall any Class X-2 Strip Rate be less than zero) or (B) the Class X-2 Fixed Strip and (ii) for any Distribution Date occurring after the Class X-2 Termination Date, 0% per annum.
Class X-2 Strip Rate. With respect to each Class X-2 Component for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the Class X-2 Termination Date, (u) with respect to Component XD, the lesser of (A) 0.5020% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class D Certificates, (v) with respect to Component XE, the lesser of (A) 0.4250% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class E Certificates, (w) with respect to Components XF-1 and XF-2, the lesser of (A) 0.1480% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class F Certificates, (x) with respect to Components XG-1 and XG-2, the lesser of (A) 0.0500% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class G Certificates, (y) with respect to Components XH-1 and XH-2, the lesser of (A) 0.0000% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class H Certificates, and (z) with respect to each other Class X-2 Component, (A) the lesser of (I) the Weighted Average Net Mortgage Rate for such Distribution Date and (II) the Class X Reference Rate for such Distribution Date, minus (B) the Pass-Through Rate for the Related Certificates (provided that in no event shall any Class X-2 Strip Rate be less than zero) and (ii) for any Distribution Date occurring after the Class X-2 Termination Date, 0% per annum.
Class X-2 Strip Rate. With respect to each Class X-2 Component for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the Class X-2 Termination Date, (A) with respect to Component X[_]-3-1 and Component X[_]-3-2, the lesser of (1) [_____]% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-3 Certificates, (B) with respect to Component X[_]-1, Component X[_]-2, Component X[_]-3, Component X[_]-4, Component X[_]-5 and Component X[_]-6, the lesser of (1) [_____]% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-4 Certificates, (C) with respect to Component X[_]-2, Component X[_]-3, Component X[_]-4, Component X[_]-5, Component X[_]-6, Component X[_]-7, Component X[_]-8, Component X[_]-9, Component X[_]-10, Component X[_]-11, Component X[_]-12, Component X[_]-13, Component X[_]-14 and Component X[_]-15, the lesser of (1) [_____]% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-1A Certificates, (D) with respect to Component X[_]-M, the lesser of (1) [_____]% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-M Certificates, and (E) with respect to each other Class X-2 Component, (1) the lesser of (I) the Weighted Average Net Mortgage Rate for such Distribution Date and (II) the Class X Reference Rate for such Distribution Date, minus (2) the Pass-Through Rate for the Related Certificates (provided, that in no event shall any Class X-2 Strip Rate be less than zero) and (ii) for any Distribution Date occurring after the Class X-2 Termination Date, 0% per annum.
Class X-2 Strip Rate means, for any Distribution Date, with respect to the Class A-4B Component, Class B Certificates and Class C Certificates, the lesser of (i) the rate per annum corresponding to such Distribution Date as set forth in Schedule IX attached hereto and (ii) the Weighted Average REMIC I Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate for such Component or such Class of Certificates for such Distribution Date, but in no event will any Class X-2 Strip Rate be less than zero.
Class X-2 Strip Rate. With respect to each Class X-2 Component for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the Class X-2 Termination Date, (A) with respect to Component XA-1A-2, Component XA-1A-3, Component XA-1A-4, Component XA-1A-5, Compoxxxx XX-0X-0, Xxxxxxxxx XX-0X-0, Xxxxxxxxx XX-1A-8, Compoxxxx XX-0X-0, Xxxxxxxxx XX-1A-10, Compxxxxx XX-0X-00, Xxxxxxxxx XX-0X-00, Xxxxxxxxx XA-1A-13, Component XA-1A-14 and Component XA-1A-15, the lesser of (1) 0.1230% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-1A Certificates, (B) with respect to Component XA-3-1 and Component XA-3-2, the lesser of (1) 0.0960% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-3 Certificates, (C) with respect to Component XA-4-1, Component XA-4-2, Component XA-4-3, Component XA-4-4, Component XX-0-0, Xxxxxxxxx XX-0-0 xxx Xxxxxxxxx XX-4-7, the lesser of (1) 0.1250% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-4 Certificates, (D) with respect to Component XA-SB-1, Component XA-SB-2, Component XA-SB-3, Component XA-SB-4, Compoxxxx XX-XX-0 xxx Xxxxxxxxx XA-SB-6, the lesser of (1) 0.1350% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-SB Certificates, (E) with respect to Component XA-M, the lesser of (1) 0.0830% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-M Certificates, (F) with respect to Component XA-J, the lesser of (1) 0.0040% and (2) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class A-J Certificates and (G) with respect to each other Class X-2 Component, (1) the lesser of (I) the Weighted Average Net Mortgage Rate for such Distribution Date and (II) the Class X-2 Reference Rate for such Distribution Date, minus (2) the Pass-Through Rate for the Related Certificates (provided, that in no event shall any Class X-2 Strip Rate be less than zero) and (ii) for any Distribution Date occurring after the Class X-2 Termination Date, ...
Class X-2 Strip Rate. With respect to each Class X-2 Component for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the related Component Crossover Date, (x) with respect to Component XD-1, Component XD-2 and Component XD-3, the lesser of (A) 0.112% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class D Certificates, (y) with respect to Component XE-1, Component XE-2 and Component XE-3, the lesser of (A) 0.014% and (B) the Weighted Average Net Mortgage Rate for such Distribution Date minus the Pass-Through Rate in effect on such Distribution Date for the Class E Certificates, and (z) with respect to each other Class X-2 Component, (A) the lesser of (I) the Weighted Average Net Mortgage Rate for such Distribution Date and (II) the Class X Reference Rate for such Distribution Date, minus (B) the Pass-Through Rate for the Related Certificates (provided that in no event shall any Class X-2 Strip Rate be less than zero) and (ii) for any Distribution Date occurring after the related Component Crossover Date, 0% per annum.
Class X-2 Strip Rate means, for any Distribution Date, with respect to the Class A-2B Component, Class B Certificates, Class C Certificates, Class D Certificates and Class E Certificates, the lesser of (i) the rate per annum corresponding to such Distribution Date as set forth in Schedule A attached hereto and (ii) the excess, if any, of (x) the Weighted Average REMIC I Net Mortgage Rate for such Distribution Date over (y) the Pass-Through Rate for such Component or such Class of Certificates for such Distribution Date, but in no event will any Class X-2 Strip Rate be less than zero.