PO Fraction definition

PO Fraction. With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Pool Balance (Non-PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan. Pool Balance (PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan.
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PO Fraction. With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Pool Balance (Non-PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan.
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PO Fraction. With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero.
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Examples of PO Fraction in a sentence

  • With respect to any Distribution Date, the principal portion of Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses occurring with respect to any Mortgage Loan allocable to the Class A-PO Certificates will equal the product of the amount of any such principal loss and the PO Fraction for such Mortgage Loan.

  • Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses on the Mortgage Loans (other than the Class PO Fraction of any such Realized Losses attributable to the Class PO Mortgage Loans) will be allocated among the Certificates (other than the Class PO Certificates) on a pro rata basis.

  • I-36 PO Fraction........................................................................................

  • The principal portion of such losses on Class PO Mortgage Loans will be allocated to the Class PO Certificates in an amount equal to the Class PO Fraction thereof, and the remainder of such losses on Class PO Mortgage Loans will be allocated among the remaining Certificates on a pro rata basis.

  • The Class PO Fraction of Realized Losses relating to any Class PO Mortgage Loan shall be allocated solely to the Class PO Certificates.


More Definitions of PO Fraction

PO Fraction. With respect to any Discount Mortgage Loan prior to the Distribution Date in December 2012, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. On and after the Distribution Date in December 2012, the PO fraction with respect to each Mortgage Loan will be zero.
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PO Fraction. With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Policy: The irrevocable Financial Guaranty Insurance Policy No. 50562-N, including any endorsements thereto, issued by Financial Security with respect to the Class A-10 Certificates, in the form attached hereto as Exhibit N.
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PO Fraction. With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Pool Balance (Non-PO Portion): Any of the Group I Pool Balance (Non-PO Portion), Group II Pool Balance (Non-PO Portion) or Group III Pool Balance (Non-PO Portion).
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PO Fraction. With respect to (i) any Group I Mortgage Loan, zero, (ii) any Discount Mortgage Loan that is a Group II Mortgage Loan, prior to the Distribution Date in December 2008, the difference between 1.0 and the Non-PO Fraction for such Group II Mortgage Loan and (iii) any Discount Mortgage Loan that is a Group II Mortgage Loan, on and after the Distribution Date in December 2008, zero.
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PO Fraction. For each PO Mortgage Loan, a fraction, the numerator of which is 7.250% less the Pass-Through Rate on such PO Mortgage Loan and the denominator of which is 7.250%.
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Related to PO Fraction

  • Non-PO Fraction With respect to any Mortgage Loan, the lesser of (i) 1.00 and (ii) the quotient obtained by dividing the Net Mortgage Interest Rate for such Mortgage Loan by 6.500%.

  • Class P Fraction Any Class I-P, Class II-P or Class III-P Fraction, as applicable.

  • Pro Rata Fraction means a fraction, the numerator of which shall be equal to the number of days between the Grant Date and the Participant’s Date of Termination and the denominator of which shall be 1095.

  • Applicable Fraction means Applicable Fraction as defined in Section 42(c)(1)(B) of the IRC.

  • Fractional Share means a fractional share in the ICAV issued in accordance with Section 12.5.