Group 3 Loans definition
Examples of Group 3 Loans in a sentence
For any Distribution Date, the weighted average of the Pass-Through Rates on the Group 3 Loans as of the second preceding Due Date (after giving effect to (i) payments due on such Mortgage Loans on such Due Date and (ii) except for the first Distribution Date, any Payoffs on such Mortgage Loans received on or before the 14th day of the calendar month of such Due Date).
For any Distribution Date, the weighted average of the Pass-Through Rates on the Group 3 Loans as of the second preceding Due Date (after giving effect to (i) payments due on such Mortgage Loans on such Due Date and (ii) except for the first Distribution Date, any Payoffs on WMB Loans in such Loan Group received on or before the 14th day of the calendar month of such Due Date).
On each Payment Date following the application of all amounts distributable on such date, to the extent the aggregate Stated Principal Balance of the Group 3 Loans is less than the aggregate Bond Principal Balances of the Group 3 Bonds due to Realized Losses on the Group 3 Loans, the Bond Principal Balances of the of the Class 3-B, Class 3-M-2 and Class 3-M-1 Bonds, in that order, shall be reduced, in each case until the Bond Principal Balance thereof has been reduced to zero.
On each Distribution Date prior to the date on which the Class Principal Balance of the Class 3-P Certificates has been reduced to zero, the Trust Administrator shall withdraw from the Distribution Account and distribute to the Class 3-P Certificates any Class P Prepayment Charges related to the Group 3 Loans.
The Group 3 Loans having Pass-Through Rates greater than or equal to 5.750% per annum.
The Group 3 Loans having Pass-Through Rates greater than or equal to 6.000% per annum.
The aggregate principal balance of the Group 3 Loans as of the Cut-Off Date (after giving effect to payments due on the Mortgage Loans on such date).
The date on which the aggregate principal balance of the Group 3 Loans has been reduced to less than the Group 3 Clean-Up Call Percentage of that balance as of the Cut-Off Date.
For any Distribution Date and the Class 3A and the Class 3A-1B Certificates, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 3 Loans at the Loan Group 3 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 3 and (ii) 12, and the denominator of which is equal to the Loan Group 3 Balance for such Distribution Date.
The Trust Fund for federal income tax purposes will consist of four REMICs. Lower-Tier REMIC A will consist of the Group 1 Loans, the Group 2 Loans and the Group 3 Loans, any related REO Property and all proceeds thereof in the Distribution Account and will be evidenced by the Lower-Tier REMIC A Regular Interests (which will be uncertificated and will represent the "regular interests" in Lower-Tier REMIC A) and the Class A-LRA Interest as the single "residual interest" in Lower-Tier REMIC A.