Class Y Principal Reduction Amounts definition

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1 and Class Y-2 Regular Interests, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix 1.

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1, Class Y-2 and Class Y-3 Regular Interests respectively will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as follows: For purposes of the succeeding formulas the following symbols shall have the meanings set forth below: PIIIB = the Group III Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. PIVB = the Group IV Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. PVB = the Group V Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. R = the Group C-B Certificate Interest Rate = (7.0%PIIIB + 6.5%PIVB + 6.710%PVB)/(PIIIB + PIVB + PVB) R1 = the weighted average Pass-Through Rate of the Group IV and Group V Loans = (6.5% (P2 - DELTAP2) + 6.710% (P3 - DELTAP3))/(P2 - DELTAP2 + P3 - DELTAP3) R2 = the weighted average Pass-Through Rate of the Group III and Group IV Loans = (7% (P1 - DELTAP1 ) + 6.710% (P3 - DELTAP3))/(P1 - DELTAP1 + P3 - DELTAP3 ) r1 = the weighted average Certificate Interest Rate of the Class Y-2 and Class Y-3 Regular Interests = (6.5% Y2 + 6.710% Y3)/(Y2 + Y3) r2 = the weighted average Certificate Interest Rate of the Class Y-1 and Class Y-3 Regular Interests = (7% Y1 + 6.710% Y3)/(Y1 + Y3 ) Y1 = the principal balance of the Class Y-1 Regular Interests after distributions on the prior Distribution Date. Y2 = the principal balance of the Class Y-2 Regular Interests after distributions on the prior Distribution Date. Y3 = the principal balance of the Class Y-3 Regular Interests after distributions on the prior Distribution Date. DELTAY1 = the Class Y-1 Principal Reduction Amount. DELTAY2 = the Class Y-2 Principal Reduction Amount. DELTAY3 = the Class Y-3 Principal Reduction Amount. P1 = the aggregate principal balance of the Class Y-1 and Class Z-1 Regular Interests after distributions on the prior Distribution Date. P2 = the aggregate principal balance of the Class Y-2 and Class Z-2 Regular Interests after distributions on the prior Distribution Date. P3 = the aggregate principal balance of the Class Y-3 and Class Z-3 Regular Interests after distributions on the prior Distribution Date. DELTAP1 = the aggregate of the Class Y-1 and Class Z-1 Principal Reduction Amounts. DELTAP2= the ag...

Examples of Class Y Principal Reduction Amounts in a sentence

In the event of any conflict among the provisions of the definition of the Class Y Principal Reduction Amounts, such conflict shall be resolved on the basis of the goals and their priorities set forth above within the requirement set forth in the preceding sentence.
Signature /s/ Maxxxxxxx Xxxxxx (SEAL) - - - - - - - - - Copies of Appendix 1: Definition of Class Y Principal Reduction Amounts (which has been intentionally omitted from this filing) may be obtained from PNC Mortgage Securities Corp.
Second, apply the Generic Solution set forth below to determine the Class Y Principal Reduction Amounts for the Distribution Date using the identifications made above.

More Definitions of Class Y Principal Reduction Amounts

Class Y Principal Reduction Amounts. For any Distribution Date the amounts by which the principal balances of the Class Y-1, Class Y-2, Class Y-3, Class Y-4 and Class Y-5 Certificates respectively will be reduced on such distribution date by the allocation of Realized Losses and the distribution of principal, determined as follows: First for each of Group 1, Group 2, Group 3, Group 4 and Group 5 determine the weighted average pass-through rate for that Group for distributions of interest that will be made on the next succeeding Distribution Date (the "Group Interest Rate"). The Principal Reduction Amount for each of the Class Y Certificates will be determined pursuant to the "Generic solution for the Class Y Principal Reduction Amounts" set forth below (the "Generic Solution") by making identifications among the actual Groups and their related Class Y and Class Z Certificates and weighted average pass-through rates and the Groups named in the Generic Solution and their related Class Y and Class Z Certificates as follows: A. Determine which Group has the lowest Group Interest Rate. That Group will be identified with Group AA and the Class Y and Class Z Certificates related to that Group will be respectively identified with the Class YAA and Class ZAA Certificates. The Group Interest Rate for that Group will be identified with J%. If two or more Groups have the lowest Group Interest Rate pick one for this purpose, subject to the restriction that each Group may be picked only once in the course of any such selections pursuant to paragraphs A through E or this definition. B. Determine which Group has the second lowest Group Interest Rate. That Group will be identified with Group BB and the Class Y and Class Z Certificates related to that Group will be respectively identified with the Class BB and Class ZBB Certificates. The Group Interest Rate for that Group will be identified with K%. If two or more Groups have the second lowest Group Interest Rate pick one for this purpose, subject to the restriction that each Group may be picked only once in the course of any such selections pursuant to paragraphs A through E or this definition. C. Determine which Group has the third lowest Group Interest Rate. That Group will be identified with Group CC and the Class Y and Class Z Certificates related to that Group will be respectively identified with the Class YCC and Class ZCC Certificates. The Group Interest Rate for that Group will be identified with L%. If two or more Groups have the third lowest Group I...

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the Uncertificated Principal Balances of the Class Y Regular Interests will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix A. Class Y Regular Interests: The Class Y-1, Class Y-2, Class Y-3, Class Y-4, Class Y-5, Class Y-6, Class Y-7A and Class Y-7B Regular Interests. Class Y-1 Principal Distribution Amount: For any Distribution Date, the excess, if any, of the Class Y-1 Principal Reduction Amount for such Distribution Date over the principal portion of Realized Losses allocated to the Class Y-1 Regular Interest on such Distribution Date.

Class Y Principal Reduction Amounts. Exhibit A Form of Certificates (other than Class R-1 and Class R-2 Certificates) Exhibit B Form of Class R-1 and Class R-2 Certificates Exhibit C [Reserved] Exhibit D Mortgage Loan Schedule Exhibit E Selling And Servicing Contract Exhibit F Form of Transferor Certificate For Junior Subordinate Certificates Exhibit G Form of Transferee's Agreement For Junior Subordinate Certificates Exhibit H Form of Additional Matter Incorporated Into The Certificates Exhibit I Transferor Certificate Exhibit J Transferee Affidavit And Agreement Exhibit K Form of Certificate Insurance Policy Exhibit L Form of Investment Letter Exhibit M Form of Trustee's Certification Pursuant to Section 2.02 Exhibit N Officer's Certificate With Respect to ERISA Matters Pursuant to Section 5.01(d) Exhibit O Officer's Certificate With Respect to ERISA Matters Pursuant to Section 5.01(g) This Pooling and Servicing Agreement, dated and effective as of April 1, 2001 (this "Agreement"), is executed by and between Washington Mutual Mortgage Securities Corp., as Depositor and Master Servicer (the "Company"), and State Street Bank and Trust Company, a Massachusetts trust company with a corporate trust office at 000 Xxxxxxxx Xxxxxx, Xxxxxx, XX 00000, as Trustee (the "Trustee"). Capitalized terms used in this Agreement and not otherwise defined have the meanings ascribed to such terms in Article I hereof.

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1, Class Y-2, Class Y-3, Class Y-4, Class Y-5, Class Y-6 and Class Y-7 Regular Interests, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix 1. The Principal Reduction Amount for the Class Y-1 Regular Interest shall be referred to as the “Class Y-1 Principal Reduction Amount,” the Principal Reduction Amount for the Class Y-2 Regular Interest shall be referred to as the “Class Y-2 Principal Reduction Amount” and so on.

Class Y Principal Reduction Amounts. For any Distribution Date the amounts by which the principal balances of the Class Y-I, Class Y-II, Class Y-III, Class Y-IV, Class Y-V and Class Y-VI REMIC I Regular Interests respectively will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as follows: First for each of Group A1-I, Group A1-II, Group CB-I, Group CB-II, Group NB-I and Group NB-II determine the Net WAC Rate for that Group for distributions of interest that will be made on the next succeeding Distribution Date (the "Group Interest Rate"). The Principal Reduction Amount for each of the REMIC I Y Regular Interests will be determined pursuant to the "Generic solution for the Class Y Principal Reduction Amounts" set forth below (the "Class Y Generic Solution") by making identifications among the actual Groups and their related Class W, Class Y and Class Z REMIC I Regular Interests and weighted average pass-through rates and the Groups named in the Class Y Generic Solution and their related Class W, Class Y and Class Z REMIC I Regular Interests as follows:

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1 and Class Y-2 Certificates, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as follows: For purposes of the succeeding formulas the following symbols shall have the meanings set forth below: Y 1 = the Class Principal Balance of the Class Y-1 Certificates after distributions on the prior Distribution Date.

Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the principal balances of the Class YAA, Class YBB and Class YCC Regular Interests respectively will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as follows: For purposes of the succeeding formulas the following symbols shall have the meanings set forth below: o PJB = the Group AA Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. o PLB = the Group CC Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date.

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