REMIC II Net WAC definition

REMIC II Net WAC. On each Distribution Date up to and including the Distribution Date in September 2004, a rate equal to the weighted average of the interest rates on Class I-1 and Class I-2, where the rate on Class I-2 is first reduced by 10.00% (but to not less than 0). On each Distribution Date thereafter, a rate equal to the weighted average of the interest rate on Class I-1 and Class I-2.
Sample 1Sample 2
REMIC II Net WAC. As of any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Mortgage Pool II 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.
Sample 1
REMIC II Net WAC. For any Distribution Date (and related Interest Accrual Period) a per annum rate equal to the weighted average of the interest rates on the REMIC II Regular Interests (other than the T2-IO Interest), weighted in each case of each such REMIC II Regular Interest based on its principal balance as of the beginning of the related Interest Accrual Period (computed after taking into account all payments made on the first day of such Interest Accrual Period).
Sample 1

Examples of REMIC II Net WAC in a sentence

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 4.928% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 7.923% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 6.942% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 9.112% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 6.395% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • The Trust, Adviser and Sub-Adviser acknowledge that all rights to the name "Shepherd Values" belong to the Adviser, and that the Trust is being granted a limited license to use such words in its Fund name or in any class name.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 7.360% per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • With respect to any Distribution Date after the Clean-up Call Date, the lesser of (1) 5.902 % per annum and (2) the REMIC II Net WAC Cap for such Distribution Date.

  • If there is a vacancy for any reason in the office of Vicar’s Warden, the Vicar must appoint a replacement as soon as possible and give the required notice of that appointment (Parishes Statute, s.33 and s.2).

  • The Securities Administrator shall treat the rights of each Class of LIBOR Certificates to receive payments of Basis Risk Carry Forward Amounts (excluding any such amounts attributable to any excess of the REMIC II Net WAC Cap Rate over the Net WAC Cap Rate) from the Excess Reserve Fund Account and the Supplemental Interest Trust as rights to receive payments under an interest rate cap contract written by the Class X Certificateholders in favor of each Class.


More Definitions of REMIC II Net WAC

REMIC II Net WAC. The weighted average of the pass-through rates on the Class I-A, Class I-B, Class I-C, Class I-D, Class I-E, Class I-F, Class I-G, Class I-H, Class I-K, Class I-L, Class I-M, Class I-O and Class I-J Interests.
Sample 1
REMIC II Net WAC. The weighted average pass-through rate on the REMIC I Regular Interests (other than the Class I-N Interest).
Sample 1

Related to REMIC II Net WAC

  • REMIC III Regular Interest The Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest in REMIC III the ownership of which is represented by any of the Class A Certificates or Class M Certificates.

  • REMIC II Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a “regular interest” in REMIC II. Each REMIC II Regular Interest shall accrue interest at the related REMIC II Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC II Regular Interests are set forth in the Preliminary Statement hereto.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

  • REMIC 1 Regular Interest Each of the REMIC 1 Interests other than the Class LT1-R Interest.

  • REMIC Regular Interest Any REMIC I Regular Interest or REMIC II Regular Interest.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • REMIC I Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a "regular interest" in REMIC I. Each REMIC I Regular Interest shall accrue interest at the related REMIC I Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC I Regular Interests are set forth in the Preliminary Statement hereto.

  • REMIC V The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class P Certificates and the Class RX Certificate (in respect of the Class R-5 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC III Regular Interests The Classes of undivided beneficial interests in REMIC III designated as “regular interests” in the table titled “REMIC III Interests” in the Preliminary Statement hereto.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto.

  • REMIC II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC III The segregated pool of assets consisting of all of the REMIC II Regular Interests conveyed in trust to the Trustee, for the benefit of the REMIC III Certificateholders pursuant to Section 2.07, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • REMIC 2 Regular Interests One of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 Pass-Through Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The following is a list of each of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTZZ, REMIC 2 Regular Interest LTP and REMIC 2 Regular Interest LTIO.

  • REMIC 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

  • REMIC IV The segregated pool of assets consisting of the Class CE Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class CE Certificates and the Class RX Certificate (in respect of the Class R-4 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code.

  • Corresponding REMIC II Regular Interest means the REMIC II Regular Interest as defined in the Preliminary Statement with respect to any Class of Corresponding Certificates or any Corresponding Component.

  • REMIC 3 The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class R Certificate (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC I Regular Interests The Classes of undivided beneficial interests in REMIC I designated as “regular interests” in the table titled “REMIC I Interests” in the Preliminary Statement hereto. The REMIC I Regular Interests, together with the Class R-1 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC 4 The segregated pool of assets consisting of the Class C Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class C Certificates and the Class R-X Certificates (in respect of the Class R-4 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • Upper-Tier Regular Interest As described in the Preliminary Statement.

  • REMIC 2 As described in the Preliminary Statement.

  • Subsidiary REMIC Regular Interest Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.

  • Corresponding REMIC I Regular Interest means with respect to each Mortgage Loan, the REMIC I Regular Interest having an initial Certificate Balance equal to the Principal Balance of such Mortgage Loan outstanding as of the Cut-Off Date, after taking into account all principal and interest payments made or due prior to the Cut-Off Date.