Pass-Through Margin definition

Pass-Through Margin. With respect to each Class of Offered Certificates (except as set forth in the following sentence), the following percentages: Class A-1 Certificates, 0.1700%; Class A-2a Certificates, 0.0700%; Class A-2b Certificates, 0.1200%; Class A-2c Certificates, 0.1800%; Class A-2d Certificates, 0.2700%; Class M-1 Certificates, 0.3300%; Class M-2 Certificates, 0.3500%; Class M-3 Certificates, 0.3700%; Class M-4 Certificates, 0.4800%; Class M-5 Certificates, 0.4900%; Class M-6 Certificates, 0.5700%; Class B-1 Certificates, 1.1000%; Class B-2 Certificates, 1.2000%; and Class B-3 Certificates, 2.1500%. On the first Distribution Date after the Optional Termination Date, the Pass-Through Margins shall increase to: Class A-1 Certificates, 0.3400%; Class A-2a Certificates, 0.1400%; Class A-2b Certificates, 0.2400%; Class A-2c Certificates, 0.3600%; Class A-2d Certificates, 0.5400%; Class M-1 Certificates, 0.4950%; Class M-2 Certificates, 0.5250%; Class M-3 Certificates, 0.5550%; Class M-4 Certificates, 0.7200%; Class M-5 Certificates, 0.7350%; Class M-6 Certificates, 0.8550%; Class B-1 Certificates, 1.6500%; Class B-2 Certificates, 1.8000%; and Class B-3 Certificates, 3.2250%.

Pass-Through Margin. With respect to each Class of Regular Certificates, the following percentages: Class A-1 Certificates, 0.420 %; Class A-2 Certificates, 0.340 %; Class M-1 Certificates, 0.650 %; Class M-2 Certificates, 1.650 %; Class M-3 Certificates, 2.000 %; Class B-1 Certificates, 3.350 %; Class B-2 Certificates, 3.900 %; and Class B-3 Certificates, 4.000 %. On the first Distribution Date after the Optional Termination Date, the Pass-Through Margins shall increase to: Class A-1 Certificates, 0.840 %; Class A-2 Certificates, 0.680 %; Class M-1 Certificates, 0.975 %; Class M-2 Certificates, 2.475 %; Class M-3 Certificates, 3.000 %; Class B-1 Certificates, 5.025 %; Class B-2 Certificates, 5.850 %; and Class B-3 Certificates, 6.000 %.

Pass-Through Margin. With respect to the Interest Accrual Period for any Distribution Date and Class of LIBOR Certificates, the per annum rate indicated in the following table:

Examples of Pass-Through Margin in a sentence

• When the Trustee selects a new index for the MTA Certificates, the Pass-Through Margin for each Class of MTA Certificates will increase or decrease by the difference between the average MTA for the final three years it was in effect and the average of the most recent three years for the replacement index.

• The Pass-Through Margin for each Class of MTA Certificates will be increased by that difference if the average MTA is greater than the average replacement index, and the Pass-Through Margin for each Class of MTA Certificates will be decreased by that difference if the replacement index is greater than the average MTA.

• Any excess of the related Net WAC Cap over LIBOR plus the applicable Pass-Through Margin in respect of any Class of Certificates on the first Distribution Date will be treated as paid from the Carryover Shortfall Reserve Fund to the Master REMIC and from the Master REMIC to such Class of Certificates.

• Any excess of LIBOR plus the applicable Pass-Through Margin in respect of any Class of LIBOR Certificates over the Net Rate Cap on the first Distribution Date will be treated as paid from the Carryover Reserve Fund to the Master REMIC and from the Master REMIC to such Class of Certificates.

• Any excess of the related Net WAC Cap over LIBOR plus the applicable Pass-Through Margin in respect of any Class of LIBOR Certificates on the first Distribution Date will be treated as paid from the Carryover Shortfall Reserve Fund to the Master REMIC and from the Master REMIC to such Class of Certificates.

More Definitions of Pass-Through Margin

Pass-Through Margin. With respect to each Class of Regular Certificates (except as set forth in the following sentence), the following percentages: Class A-1, 0.0700%; Class A-2, 0.1100%; Class A-3, 0.1700%; Class A-4, 0.2800%; Class M-1, 0.3400%; Class M-2, 0.3600%; Class M-3, 0.3800%; Class M-4, 0.4700%; Class M-5, 0.5000%; Class M-6, 0.5800%; Class B-1, 1.1000%; Class B-2, 1.2500%; and Class B-3, 2.1500%. On the first Distribution Date after the Optional Termination Date, the Pass-Through Margins shall increase to: Class A-1, 0.1400%; Class A-2, 0.2200%; Class A-3, 0.3400%; Class A-4, 0.5600%; Class M-1, 0.5100%; Class M-2, 0.5400%; Class M-3, 0.5700%; Class M-4, 0.7050%; Class M-5, 0.7500%; Class M-6, 0.8700%; Class B-1, 1.6500%; Class B-2, 1.8750%; and Class B-3, 3.2250%.

Pass-Through Margin. With respect to each Class of Regular Certificates, the following percentages: Class A-1 Certificates, 0.52%; Class A-2 Certificates, 0.52%; Class A-3 Certificates, 0.46%; Class B-1 Certificates, 3.00% and Class B-2 Certificates, 4.00%. On the first Distribution Date after the Optional Termination Date, the Pass-Through Margins shall increase to: Class A-1 Certificates, 1.04%; Class A-2 Certificates, 1.04%; Class A-3 Certificates, 0.92%; Class B-1 Certificates, 4.50% and Class B-2 Certificates, 6.00%.

Pass-Through Margin. For each Class of LIBOR Certificates for the Interest Accrual Period related to any Distribution Date, as follows:

Pass-Through Margin. For each Class of Certificates and the Interest Accrual Period related to each Distribution Date, as follows:

Pass-Through Margin. With respect each Distribution Date, as follows:

Pass-Through Margin. With respect to any Accrual Period and Class of Interest-Bearing Certificates, the per annum rate indicated in the following table:

Pass-Through Margin. For any Class of Offered Certificates, the Class A-1A Margin, the Class A-1B Margin, the Class A-2A Margin, the Class A-2B Margin, the Class A-2C Margin, the Class M-1 Margin, the Class M-2 Margin, the Class M-3 Margin, the Class B-1 Margin, the Class B-2 Margin, the Class B-3 Margin and the Class R Margin.