Pool 3 Net WAC definition

Pool 3 Net WAC. With respect to any Distribution Date, the weighted average of the Net Mortgage Rates of the Pool 3 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 3 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 3 for such date and (ii) 12, and the denominator of which is the Pool Balance for Pool 3 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.
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Pool 3 Net WAC. With respect to any Distribution Date, an annual rate equal to a fraction, expressed as a percentage, the numerator of which is the product of (x) the excess of the Optimal Interest Remittance Amount for Pool 3 for such Distribution Date over the portion of the Certificate Insurer Premium for such Distribution Date attributable to the Class 3-A2 Certificates, and (y) 12, and the denominator of which is the Pool Balance of Pool 3 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).
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Examples of Pool 3 Net WAC in a sentence

  • Each Certificate related to the Aggregate Pool, other than the Residual Certificates, shall represent ownership of a regular interest in Upper-Tier REMIC 1 and each Certificate related to Pool 3 (exclusive of any right to receive payments in excess of the Pool 3 Net WAC), other than the Residual Certificates, shall represent ownership of a regular interest in Upper-Tier REMIC 2 for purposes of the REMIC Provisions.

  • Each Certificate (exclusive of any right to receive payments in excess of the Pool 3 Net WAC), other than the Residual Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC for purposes of the REMIC Provisions.

  • Each of the Certificates related to Pool 3 (other than the related Residual Certificates and exclusive of any right to receive payments in excess of the Pool 3 Net WAC) represent ownership of regular interests in Upper-Tier REMIC 2.

  • As of any Distribution Date, the weighted average of the Pool 1 Net WAC, Pool 2 Net WAC and Pool 3 Net WAC, in each case weighted on the basis of the Pool Subordinate Amounts for Group 1, Group 2 and Group 3, respectively, for such Distribution Date.

  • Each of the Certificates (other than the Class A-R Certificate and exclusive of any right to receive payments in excess of the Pool 3 Net WAC) represent ownership of regular interests in the Upper-Tier REMIC.


More Definitions of Pool 3 Net WAC

Pool 3 Net WAC. With respect to Pool 3, an annual rate equal to the weighted average of the Net Mortgage Rates for the Mortgage Loans in the Pool 3 as of the first day of the related Collection Period, weighted on the basis of their Scheduled Principal Balances at the beginning of the related Collection Period.
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Pool 3 Net WAC. As of any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Group 3 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. For federal income tax purposes, for any Distribution Date with respect to the Group 3 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 LT3A3, weighted on the basis of the Uncertificated Balance of such REMIC III Regular Interest.
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Related to Pool 3 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).

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

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

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).