Examples of Principal Only Certificates in a sentence
The aggregate amount of Realized Losses to be allocated to the Principal Only Certificates on such Distribution Date will be taken into account in determining distributions in respect of any Class PO Deferred Amount for such Distribution Date.
Principal Only Certificates The Class 15-PO and Class 30-PO Certificates.
The principal portion of such losses on Discount Mortgage Loans will be allocated to the Principal Only Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Principal Only Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below.
Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses on Non-Discount Mortgage Loans will be allocated among the Class A (other than the Principal Only Certificates), Class M, Class B and Class R Certificates, on a pro rata basis, as described below.
The applicable AP Percentage of the principal portion of an Excess Loss in a Mortgage Pool will be applied to the related Class of Principal Only Certificates until the Class Principal Amount thereof has been reduced to zero.