PO class definition

PO class. A class that has a principal balance and receives principal distributions, but does not have a certificate rate and does not receive interest distributions. PO loan: A mortgage loan that has a principal balance, but on which no interest is paid by the mortgagor. PO strip: The ratio-stripped PO loans for all the discount loans. pool: A pool of mortgage loans. pool distribution amount: For a distribution day and a mortgage loan pool, the funds eligible for distribution to the related classes on that distribution day, being all amounts deposited into the certificate account relating to that pool, but excluding the following:
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PO class. A Class of Stripped Giant Certificates which is entitled to payment of all or a portion of the principal payments received on the Assets and no interest.
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PO class. The Class PO-A-1 Component, Class PO-A-2 Component, Class PO-B Certificates, Class PO-C Certificates, Class PO-D-1 Component and Class PO-D-2 Component, as applicable.
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Examples of PO class in a sentence

  • Beginning on the cut-off date, each class (other than any PO class) will accrue interest for each month on its principal or notional balance at the certificate rate for the class stated in “The series - General terms for classes” above.

  • Beginning on the cut-off date, each class (other than any PO class) will accrue interest for each month on its principal or notional balance at the certificate rate for the class stated in “The series – General terms for classes” above.

  • In the most extreme case, one class will receive all of the interest payments, (the interest-only or "IO" class), while the other class will receive all of the principal payments (the principal only or "PO" class).

  • The annual target rates for the pools are pool I: 6% pool II: 5.5% Each class other than any ratio-stripped IO or ratio-stripped PO class is a target-rate class.

  • The per annum target rates for the pools are pool I: 6% pool II: 5.5% Each class other than any ratio-stripped IO or ratio-stripped PO class is a target-rate class.

  • FOR INJURY PREVENTION & CONTROL, INTIMATE PARTNER VIOLENCE SURVEILLANCE: UNIFORM DEFINITIONS AND RECOMMENDED DATA ELEMENTS 1 (2d ed.

  • Each of classes IA-IO and IIA-IO is a ratio-stripped IO class, and class A-PO is a ratio-stripped PO class.

  • In certain cases, one class will receive all of the interest (the interest-only or "IO" class), while the other class will receive all of the principal (the principal-only or "PO" class).

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  • Each class other than any ratio-stripped IO or ratio-stripped PO class is a target-rate class.


More Definitions of PO class

PO class. As defined in the Senior Prospectus. "PO Class Certificates": Certificates of the PO Class.
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PO class. A class that has a principal balance and receives principal distributions, but does not have a certificate rate and does not receive interest distributions.
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PO class. The Class PO-A and Class PO-B Certificates, as applicable.
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PO class. A Class of Class PO Certificates or a Class PO-A Component, as applicable.
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Related to PO class

  • Class when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

  • Original Class B-3 Percentage The Class B-3 Percentage as of the Cut-Off Date, as set forth in Section 11.10.

  • Original Class B-4 Percentage The Class B-4 Percentage as of the Cut-Off Date, as set forth in Section 11.11.

  • Original Class A Non-PO Principal Balance The sum of the Original Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-R Certificates, as set forth in Section 11.06.

  • Original Class B-1 Percentage The Class B-1 Percentage as of the Cut-Off Date, as set forth in Section 11.08.

  • Initial Class B Note Balance means $129,750,000.

  • Original Class B-6 Percentage The Class B-6 Percentage as of the Cut-Off Date, as set forth in Section 11.13.

  • Original Class B-5 Percentage The Class B-5 Percentage as of the Cut-Off Date, as set forth in Section 11.12.

  • Original Class B-2 Percentage The Class B-2 Percentage as of the Cut-Off Date, as set forth in Section 11.09.

  • Initial Class D Note Balance means $142,370,000.

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Initial Class C Note Balance means $152,941,000.

  • Original Class B-6 Principal Balance The Class B-6 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Original Class B-1 Principal Balance The Class B-1 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Original Class B-3 Principal Balance The Class B-3 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Initial Class A-2 Note Balance means $235,000,000.

  • Original Class B-2 Principal Balance The Class B-2 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Original Class B-4 Principal Balance The Class B-4 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Original Class B-5 Principal Balance The Class B-5 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • Subclass With respect to the Class A-V Certificates, any Subclass thereof issued pursuant to Section 5.01(c). Any such Subclass will represent the Uncertificated Class A-V REMIC Regular Interest or Interests specified by the initial Holder of the Class A-V Certificates pursuant to Section 5.01(c).

  • Initial Class Certificate Balance As to each Class of Certificates, the Class Certificate Balance set forth in the Preliminary Statement.

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Original Class B Principal Balance The sum of the Original Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and Original Class B-6 Principal Balance, as set forth in Section 11.14.

  • Original Class A Percentage The Class A Percentage as of the Cut-Off Date, as set forth in Section 11.04.