Class X Interest Rate means, with respect to each Interest Period, the percentage calculated by multiplying a fraction, the numerator of which is the Class X Interest Amount and the denominator of which is the Principal Amount Outstanding of the Class X Note, by 100.

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1 Regular Interests over (ii) two times the weighted average of the interest rates on the REMIC 1-I Marker Classes and the Class LT1-XI Interest (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1-I Marker Classes as being subject to a cap and a floor equal to the interest rate of the Corresponding Classes of Certificates (as adjusted, if necessary, to reflect accruals on the basis of the actual number of days in the Accrual Period for the LIBOR Certificates) and treating the interest rate on the Class LT1-XI Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1 Regular Interests immediately prior to such Distribution Date.

Class X Interest Rate. Not applicable.

Examples of Class X Interest Rate in a sentence

Interest will accrue on the principal amount outstanding of the Class X Notes at the Class X Interest Rate and will be payable quarterly in arrear on each Payment Date.
The Class X Interest Rate in respect of each Interest Period will be calculated on the Determination Date that falls within that Interest Period.

More Definitions of Class X Interest Rate

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-IO Interest) over (ii) two times the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-IO Interest) (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1 Marker Classes as being capped at the interest rate of the Related REMIC 2 Interest of the Corresponding Classes of Certificates (as adjusted, if necessary, to reflect accruals on the basis of the actual number of days in the Accrual Period for the LIBOR Certificates) and treating the interest rate on the Class LT1-X Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1 Regular Interests immediately prior to such Distribution Date.

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1-I Regular Interests over (ii) two times the weighted average of the interest rates on the REMIC 1-I Regular Interests (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1-I Marker Classes as being subject to a cap equal to the interest rate of the Corresponding Classes of Certificates (as adjusted, if necessary, to reflect accruals on the basis of the actual number of days in the Accrual Period for the LIBOR Certificates) and treating the interest rate on the Class LT1-XI Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1-I Regular Interests immediately prior to such Distribution Date.

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-1AX Interest, the Class LT1-2AX Interest and the Class LT1-3AX Interest) over (ii) two times the weighted average of the interest rates on the REMIC 1-I Marker Classes and the Class LT1-XI Interest (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1-I Marker Classes as being subject to a cap and a floor equal to the interest rate of the Related REMIC 2 Interest of the Corresponding Classes of Certificates (as adjusted, if necessary, to reflect the length of the Accrual Period for the LIBOR Certificates) and treating the interest rate on the Class LT1-XI Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1 Regular Interests immediately prior to such Distribution Date.

Class X Interest Rate. With respect to the Class X Interest and any Payment Date, a rate per annum equal to the percentage equivalent of a fraction, the numerator of which is the sum of the amount determined for each REMIC II Regular Interest equal to (x) the excess of the Uncertificated REMIC II Pass-Through Rate for such REMIC II Regular Interest over the Marker Rate, applied to (y) a notional amount equal to the Uncertificated Principal Balance of such REMIC II Regular Interest, and the denominator of which is the aggregate Uncertificated Principal Balance of such REMIC II Regular Interests. Closing Date: December 29, 2005. Code: The Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

Class X Interest Rate. ’ means, with respect to each Note Interest Period, the percentage calculated by multiplying a fraction, the numerator of which is the Class X Interest Amount and the denominator of which is the Principal Amount Outstanding of the Class X Note on the relevant Determination Date multiplied by 360 and dividing the result by the number of days in the relevant Note Interest Period.

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-MTAIO Interest and the Class LT1-FIXIO Interest) over (ii) two times the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-MTAIO Interest and the Class LT1-FIXIO Interest) (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1 Marker Classes as being capped at the interest rate of the Related REMIC 2 Interest of the Corresponding Classes of Certificates (as adjusted, if necessary, to reflect accruals on the basis of the actual number of days in the Accrual Period for the LIBOR Certificates) and treating the interest rate on the Class LT1-X Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1 Regular Interests immediately prior to such Distribution Date.

Class X Interest Rate. For any Distribution Date, the excess of (i) the weighted average of the interest rates on the REMIC 1 Regular Interests (other than the Class LT1-1AX Interest, the Class LT1-2AX Interest, the Class LT1-3AX Interest and the Class LT1-Coupon Strip Interest) over (ii) two times the weighted average of the interest rates on the REMIC 1-I Marker Classes and the Class LT1-XI Interest (treating for purposes of this clause (ii) the interest rate on each of the REMIC 1-I Marker Classes as being subject to a cap and a floor equal to the interest rate of the Related REMIC 2 Interest of the Corresponding Classes of Certificates and treating the interest rate on the Class LT1-XI Interest as capped at zero). The average described in the preceding sentence shall be weighted on the basis of the respective principal balances of the REMIC 1 Regular Interests immediately prior to such Distribution Date.