Pool 2 Net WAC definition

Pool 2 Net WAC. With respect to any Distribution Date, the weighted average of the Net Mortgage Rates of the Pool 2 Mortgage Loans as of the first day of the calendar month immediately preceding the calendar month of such Distribution Date, weighted on the basis of their Stated Principal Balances.
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Pool 2 Net WAC. With respect to any Distribution Date, the weighted average of the Net Mortgage Rates of the Pool 2 Mortgage Loans as of the first day of the calendar month immediately preceding the calendar month of such Distribution Date, weighted on the basis of their Stated Principal Balances (after giving effect to Scheduled Payments due on or before such date and Principal Prepayments received prior to such date) at such time; provided, however, that with respect to the first Distribution Date, the Pool 2 Net WAC shall include any Mortgage Loans that were removed from Pool 2 prior to the Closing Date with the characteristics as set forth in the table in Section 5.02(l).
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Examples of Pool 2 Net WAC in a sentence

  • The Depositor will deposit, or cause to be deposited, into the Pool 2 Net WAC Reserve Fund, $1,000.

  • For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Pool 2 Net WAC Reserve Fund and all amounts deposited into the Pool 2 Net WAC Reserve Fund.

  • The Securities Administrator also acknowledges receipt of the amounts on deposit in the Distribution Account, the Pool 1 Net WAC Reserve Fund and the Pool 2 Net WAC Reserve Fund in trust for the exclusive use and benefit of all present and future Certificateholders.

  • If no Net WAC Rate Carryover Amount is payable on a Distribution Date, the Securities Administrator shall deposit into the Pool 2 Net WAC Reserve Fund the Pool 2 Required Net WAC Reserve Fund Deposit.

  • The Centre agrees that such incidents will not be condoned in the workplace.

  • Any monies held in the Pool 2 Net WAC Reserve Fund in excess of the Pool 2 Required Net WAC Reserve Fund Deposit on any Distribution Date shall be distributed to the Class C Certificateholders.

  • The Class Coupon for the Class M-1, Class M-2 and Class B Certificates will be a per annum rate equal to the weighted average of the Pool 1 Net WAC and Pool 2 Net WAC for such Distribution Date, weighted based on the product of the aggregate Stated Principal Balance of each Pool as of the preceding Distribution Date multiplied by the Subordinate Percentage for the related Pool.

  • The Pool 2 Net WAC Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the LIBOR Certificates of Net WAC Rate Carryover Amounts with respect to any Class of LIBOR Certificates will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1).

  • Upon the termination of the Trust Fund, or the payment in full of the Class AV and Pool 2 Mezzanine Certificates, all amounts remaining on deposit in the Pool 2 Net WAC Reserve Fund will be distributed to the Class C Certificateholders or their designees.

  • On each Distribution Date as to which there is Net WAC Rate Carryover Amount for any Class of Pool 2 Certificates, the Securities Administrator is hereby directed to, and shall therefore, deposit into the Pool 2 Net WAC Reserve Fund an amount equal to the Net WAC Rate Carryover Amount for each affected Class of Pool 2 Certificates pursuant to Section 4.01(a)(3)(xiv).


More Definitions of Pool 2 Net WAC

Pool 2 Net WAC. For each Distribution Date, the weighted average of the Net Mortgage Rates of the Pool 2 Mortgage Loans as of the first day of the calendar month immediately preceding the calendar month of such Distribution Date, weighted on the basis of their Stated Principal Balances as of that date. Popular Mortgage: Popular Mortgage, Inc., a Puerto Rico corporation that is licensed as a mortgage banking institution and is wholly owner by Banco Popular.
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Pool 2 Net WAC means for any Distribution Date, a per annum rate, expressed as a percentage, equal to the weighted average of the Net Mortgage Rates of the Pool 2 Mortgage Loans (without giving effect to any interest rate modifications occurring after the Cut-Off Date), weighted on the basis of their Stated Principal Balances as of the preceding Distribution Date.
Sample 1
Pool 2 Net WAC. With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (i) the Optimal Interest Remittance Amount for Pool 2 for such date and (ii) 12, and the denominator of which is the Pool Balance for Pool 2 as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date), multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.
Sample 1
Pool 2 Net WAC. As of any Distribution Date, the weighted average of the Mortgage Rates of the Pool 2 Mortgage Loans as of the first day of the calendar month immediately preceding the calendar month of such Distribution Date, net of the Servicing Fee Rate divided by the aggregate of the Stated Principal Balances of the Pool 2 Mortgage Loans as of the beginning of the related Due Period, weighted on the basis of their Stated Principal Balances as of that date. POOL 2 OPTIONAL CLEAN-UP CALL DATE: With respect to Mortgage Pool 2, the first Distribution Date following a Due Date on which the aggregate unpaid Principal Balance of all Pool 2 Mortgage Loans is less than 10% of the aggregate unpaid Principal Balance of the Pool 2 Mortgage Loans on the Cut-off Date.
Sample 1
Pool 2 Net WAC. As of any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Group 2 as of the first day of the calendar month immediately preceding the calendar month of such Distribution Date, weighted on the basis of their Stated Principal Balances and with respect to the first Distribution Date, any amounts in the Pre-Funding Account, as of that date. For federal income tax purposes, for any Distribution Date with respect to the Group 2 Certificates, the economic equivalent of such rate shall be expressed as the weighted average of the Uncertificated REMIC III Pass-Through Rate on REMIC III Regular Interest LT3A2, weighted on the basis of the Uncertificated Balance of such REMIC III Regular Interest.
Sample 1

Related to Pool 2 Net WAC

  • Net WAC With respect to any Distribution Date and for any Mortgage Group, the weighted average Net Mortgage Rate for the Mortgage Loans in such Mortgage Group calculated based on the respective Net Mortgage Rates and the Stated Principal Balances of such Mortgage Loans as of the preceding Distribution Date (or, in the case of the first Distribution Date, as of the Cut-off Date).

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Net WAC Pass-Through Rate With respect to the Class A-1 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group I Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group I Mortgage Loans for such Distribution Date and the Group I Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group I Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Class A-2 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group II Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group II Mortgage Loans for such Distribution Date and the Group II Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group II Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Mezzanine Certificates and any Distribution Date a rate per annum equal to the weighted average (weighted in proportion to the results of subtracting from the Scheduled Principal Balance of each loan group, the Certificate Principal Balance of the related Class A Certificates), of (i) the Net WAC Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the Class A-2 Certificates. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rates on (a) REMIC II Regular Interest I-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, and (b) REMIC II Regular Interest II-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of each such REMIC II Regular Interest.

  • Class X-1 Strip Rate With respect to any Distribution Date, the amount, if any, by which (i) the Weighted Average Net Mortgage Rate for such Distribution Date exceeds (ii) the sum of the Class LA-1-2-A Component Class X-2 Strip Rate and the Class A-1 Pass-Through Rate for such Distribution Date.

  • Pool Strip Rate With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum.

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class X-B Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-B Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Pool 2 The aggregate of the Mortgage Loans identified on the Mortgage Loan Schedule as being included in Pool 2.

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

  • Class A-AB Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.313%.

  • Class X-A Pass-Through Rate For any Distribution Date, the weighted average of Class X Strip Rates for the Class X-A Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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).

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Class A-3 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.8600%.

  • Class A-4 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.6250%.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Class A Fixed Pass-Through Rate As to any Distribution Date, the rate per annum set forth in Section 11.01.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • Class H Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class A-5 Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.1156%.

  • Class A-1 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 2.222%.