Interest Only Classes definition

Interest Only Classes. As specified in the Prospectus Supplement.
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Interest Only Classes. The SMBS Classes so identified in the related Xxxxxx Xxx Offering Document.
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Interest Only Classes. Class A3 and Class A4. Issue Date: March 30, 2005.
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Examples of Interest Only Classes in a sentence

  • Investors should consider the associated risks, including:‚ Fast prepayment rates on the related Mortgages can reduce the yields of the Interest Only Classes and any other Classes purchased at a premium over their principal amounts.

  • On each Distribution Date, distributions in reduction of the Certificate Balances of the Certificates of any Class (other than the Interest Only Classes) shall be made in an amount equal to the Principal Distribution Amount and shall be distributed in the amounts and in the priorities specified in the Prospectus.

  • On each Distribution Date, distributions in reduction of the Certificate Balances of the Trust Fund Certificates of any Class (other than the Interest Only Classes) shall be made in an amount equal to the Principal Distribution Amount and shall be distributed in the amounts and in the priorities specified in the Prospectus.

  • In addition, in the event that on any Distribution Date that is a Final Distribution Date for a Class of Upper Tier REMIC Certificates, the applicable portion of the REMIC Trust Account will not be sufficient to reduce the Class Balance of such Class (other than the Interest Only Classes) to zero on such Final Distribution Date, then Xxxxxx Mae shall apply its own funds to remedy the same.

  • Such Regular Certificates shall be in the authorized denominations specified in the Prospectus Supplement (in the case of Interest Only Classes, which have no principal balances, such denominations will represent the original notional principal balances thereof).

  • If the Outstanding Certificates for any Trust do not include any Certificates of an Interest Only Class or include only Certificates of one or more Interest Only Classes, 100% of the Voting Rights will be allocated to the related Classes in proportion to their Aggregate Certificate Balances.

  • On each Distribution Date, distributions in reduction of the Certificate Balances of the Certificates of any Class (other than the Interest Only Classes) shall be applied as specified in the Prospectus.

  • In addition, in the event that on any Distribution Date that is the Final Distribution Date for a Class of Upper Tier REMIC Certificates, the applicable portion of the REMIC Trust Account will not be sufficient to reduce the Class Balance of such Class (other than the Interest Only Classes) to zero on the Final Distribution Date, then Xxxxxx Mae shall apply its own funds to remedy the same.

  • The voting rights allocated to each Class of Certificates (other than the Interest Only Classes) shall be allocated among all Holders of each such Class in proportion to the outstanding Class Balance of such Certificates.

  • Moreover, it is unlikely that• the Mortgage Loans will prepay at a constant PSA rate until maturity, or• all of the Mortgage Loans will prepay at the same rate.The yields to investors in the Fixed Rate Interest Only Classes will be very sensitive to the rate of principal payments (including prepayments) of the Mortgage Loans.


More Definitions of Interest Only Classes

Interest Only Classes. The Notional Class and Component, as specified in the Prospectus Supplement.
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Interest Only Classes. As specified in the related Prospectus Supplement. Interest Only Components: As specified in the related Prospectus Supplement.
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Interest Only Classes. As specified in the table in Section 3.01.
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Interest Only Classes. The IO, 2-A-2 and 3-A-2 Class Certificates.
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Interest Only Classes. The 1-IO-1, 1-IO-2, 1-IO-3 and 1-IO-4 Classes.
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Related to Interest Only Classes

  • Interest Only Certificates A Class or Subclass of Certificates not entitled to payments of principal, and designated as such in the Series Supplement. The Interest Only Certificates will have no Certificate Principal Balance.

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Floating Rate Classes The Classes designated as either “Floating Rate” or “Inverse Floating Rate” in the Prospectus Supplement.

  • Class Unpaid Interest Amounts As to any Distribution Date and Class of interest bearing Certificates, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount distributed on such Class on prior Distribution Dates pursuant to clause (ii) of the definition of Class Optimal Interest Distribution Amount.

  • Floating Rate Interest Payment Date has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Interest Only Mortgage Loan A Mortgage Loan for which an interest-only payment feature is allowed during the interest-only period set forth in the related Mortgage Note.

  • Fixed Rate Interest Payment Date has the meaning provided in Section 3.02(e)(i).

  • Fixed Rate Certificates As specified in the Preliminary Statement.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Class Unpaid Interest Shortfall As to any Distribution Date and each interest-bearing Class, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount."

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Aggregate Class A Unpaid Interest Shortfall As to any Distribution Date, an amount equal to the sum of the Class A Unpaid Interest Shortfalls for all the Classes of Class A Certificates.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest LTZZ minus the REMIC 2 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on REMIC 2 Regular Interest LTAV1, REMIC 2 Regular Interest LTAV2, REMIC 2 Regular Interest LTAV3, REMIC 2 Regular Interest LTAF1, REMIC 2 Regular Interest LTAF2, REMIC 2 Regular Interest LTAF3, REMIC 2 Regular Interest LTAF4, REMIC 2 Regular Interest LTAF5, REMIC 2 Regular Interest LTAF6, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8 and REMIC 2 Regular Interest LTM9, with the rate on each such REMIC 2 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 2 Pass-Through Rate and the related caps with respect to each such REMIC 2 Regular Interest for which the Corresponding Certificate is a Group I Certificate shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Period and the denominator of which is 30.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Class B-6 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-first of Section 4.01(a).

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Unpaid Interest Amounts As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Interest Record Date for the interest payable on any Interest Payment Date (except a date for payment of defaulted interest) means the April 15 or October 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date.