Pool 2 REMIC Companion Component definition

Pool 2 REMIC Companion Component. An uncertificated "interest-only" regular interest in the Upper Tier REMIC that, on each Distribution Date, has a notional principal amount equal to the Class Principal Amount of the Class A-2 Certificates immediately prior to such Distribution Date and bears interest at a rate equal to the excess of the Pool 2 Adjusted Net WAC over the Certificate Interest Rate on the Class A-2 Certificates on such Distribution Date. For federal income tax purposes, the Pool 2 REMIC Companion Component is represented by the Class X-A-2 Certificates.
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Pool 2 REMIC Companion Component. An uncertificated "interest-only" regular interest in the Upper Tier REMIC that, on each Distribution Date, has a notional principal amount equal to the Class Principal Amount of the Class A-2 Certificates immediately prior to such Distribution Date and bears interest at a rate equal to the excess of the Pool 2 Adjusted Net WAC over the Certificate Interest Rate on the Class A-2 Certificates on such Distribution Date. For purposes of determining the interest rate on the Pool 2 REMIC Companion Component for the first Distribution Date only, the Class A-2 Certificates shall be treated as having a Certificate Interest Rate equal to the product of (i) the initial Certificate Interest Rate of the Class A-2 Certificates (as determined without regard to this sentence) and (ii) a fraction, the numerator of which is the number of days in the initial Accrual Period for the Class A-2 Certificates and the denominator of which is 30. For federal income tax purposes, the Pool 2 REMIC Companion Component is represented by the Class X-A-2 Certificates.
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Related to Pool 2 REMIC Companion Component

  • Serviced Pari Passu Companion Loan A Pari Passu Companion Loan that is part of a Serviced Loan Combination. With respect to each Servicing Shift Mortgage Loan and the related Servicing Shift Loan Combination, each related Pari Passu Companion Loan will cease to be a Serviced Pari Passu Companion Loan on and after the related Servicing Shift Date.

  • Serviced Companion Loan A Companion Loan that is part of a Serviced Loan Combination. With respect to each Servicing Shift Mortgage Loan and the related Servicing Shift Loan Combination, each related Companion Loan will no longer be a Serviced Companion Loan on and after the related Servicing Shift Date.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • Class D Component The Component having such designation.

  • Class A-S Component The Component having such designation.

  • Class A-4 Component The Component having such designation.

  • Class C Component The Component having such designation.

  • Serviced Pari Passu Companion Loan Holder A holder of a Serviced Pari Passu Companion Loan.

  • Principal Component The principal payment plus any interest payments that are either due after the date specified in, or are specified as ineligible for stripping in, the applicable Supplemental Agreement.

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Class A-2 Component The Component having such designation.

  • REMIC Remittance Rate The REMIC I Remittance Rate or the REMIC II Remittance Rate.

  • REMIC I Remittance Rate The per annum rate at which interest accrues in respect of any REMIC I Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.11(f).

  • REO Companion Loan Any Serviced Companion Loan if the related Mortgaged Property has become an REO Property.

  • Class A-1 Component The Component having such designation.

  • Pari Passu Companion Loan A Companion Loan that, pursuant to the related Loan Documents and/or the related Co-Lender Agreement, is pari passu in right of payment to the related Split Mortgage Loan. The only Pari Passu Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Pari Passu Companion Loan(s),” each of which Notes evidences a separate Pari Passu Companion Loan.

  • Serviced Companion Loan Holder The holder of a Serviced Companion Loan.

  • REMIC II Remittance Rate The per annum rate at which interest accrues in respect of any REMIC II Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.13(f).

  • Companion Loan As defined in the Introductory Statement.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.