Notional Balance. With respect to the Corridor Contract and any Distribution Date, the "Notional Amount" specified for the Calculation Period related to such Distribution Date in the Corridor Contract.
Notional Balance. With respect to the Cap Contract and any Payment Date, the "Notional Amount" specified for the Calculation Period related to such Payment Date in the Cap Contract.
Notional Balance. With respect to the Class C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans as of the related Due Date, minus the Certificate Principal Balance of the Class P Certificates. For federal income tax purposes, the Notional Balance of the Class C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests, other than REMIC 2 Regular Interest P, for such Distribution Date.
Examples of Notional Balance in a sentence
The Initial Certificate Notional Balance of this Certificate is set forth above.
Interest on this Certificate will accrue during the month prior to the month in which a Distribution Date (as hereinafter defined) occurs on the Certificate Notional Balance hereof at a per annum rate equal to the Class X Pass-Through Rate as set forth in the Agreement.
The notional amount of the Class B-IO Certificates will be equal to the lesser of (i) the Class B-IO Notional Balance and (ii) the aggregate outstanding principal balance of the mortgage loans.
Interest on this Certificate will accrue during the month prior to the month in which a Distribution Date (as hereinafter defined) occurs on the Notional Balance hereof at a per annum rate equal to the applicable Pass-Through Rate as set forth in the Agreement.
During each Certificate Interest Accrual Period (as defined below), interest on the Class X Certificates will be calculated based on a 360-day year consisting of twelve 30-day months on the outstanding Notional Balance hereof.
More Definitions of Notional Balance
Notional Balance. With respect to the Class X Certificates for purposes solely of the face thereof, the aggregate Stated Principal Balance of the Mortgage Loans.
Notional Balance. With respect to the Class X Certificates for purposes solely of the face thereof, the aggregate Stated Principal Balance of the Mortgage Loans. With respect to each of the Class X-1, Class P and Class R Certificates for purposes solely of the face thereof, $100. Ocwen: Ocwen Loan Servicing, LLC, a Delaware limited liability company, and its successors in interest.
Notional Balance. With respect to each Payment Date as specified in Exhibit B of the Indenture, the lesser of (x) the Outstanding Principal Balance of the Mortgage Loans as of the close of business on the first day of the related Due Period and (y) the amount specified in Exhibit B for the applicable Mortgage Loans and such Payment Date.
Notional Balance. With respect to the Class 1-C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group 1 Loans as of the related Due Date, minus the Certificate Principal Balance of the Class 1-P Certificates. For federal income tax purposes, the Notional Balance of the Class 1-C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 1 Regular Interests, other than REMIC 3 Regular Interest 1-P, for such Distribution Date. With respect to the Class 2-C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group 2 Loans as of the related Due Date, minus the Certificate Principal Balance of the Class 2-P Certificates. For federal income tax purposes, the Notional Balance of the Class 2-C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 2 Regular Interests, other than REMIC 3 Regular Interest 2-P, for such Distribution Date.
Notional Balance. With respect to the Class C-R Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans in Loan Group 1 as of the related Due Date, minus the Certificate Principal Balance of the Class P-R Certificates. For federal income tax purposes, the Notional Balance of the Class C-R Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 1 Regular Interests, other than REMIC 3 Regular Interest P-R, for such Distribution Date. With respect to the Class C-M Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans in Loan Group 2 as of the related Due Date, minus the Certificate Principal Balance of the Class P-M Certificates. For federal income tax purposes, the Notional Balance of the Class C-M Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 2 Regular Interests, other than REMIC 3 Regular Interest P-M, for such Distribution Date.
Notional Balance. With respect to any Distribution Date, the lesser of (x) the Floating Rate Subordinate Certificate Cap Contract Notional Balance set forth for such Distribution Date in the Floating Rate Subordinate Certificate One-Month LIBOR Cap Table attached hereto as Exhibit O-3 and (y) the outstanding Certificate Principal Balance of the Floating Rate Subordinate Certificates.
Notional Balance. With respect to a Contract and any Distribution Date, the "Notional Amount" specified for the Calculation Period related to such Distribution Date in such Contract.