REMIC II Net WAC Rate definition

REMIC II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to the weighted average of (x) with respect to REMIC I Regular Interests ending with the designation "B," the weighted average of the Uncertificated REMIC I Pass-Through Rates for such REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balance of such REMIC I Regular Interests for each such Distribution Date, (y) with respect to REMIC I Regular Interest A-I, the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest, and (z) with respect to REMIC I Regular Interests ending with the designation "A," for each Distribution Date listed below, the weighted average of the rates listed below for each such REMIC I Regular Interest listed below, weighted on the basis of the Uncertificated Principal Balance of each such REMIC I Regular Interest for each such Distribution Date: DISTRIBUTION DATE REMIC I REGULAR INTEREST RATE
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REMIC II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to the weighted average of the related Uncertificated REMIC II Pass-Through Rates on the REMIC II Regular Interests (other than REMIC II Regular Interest MT-IO), weighted on the basis of the respective Uncertificated Principal Balances thereof immediately preceding such Distribution Date.
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REMIC II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to the excess, if any, of the Uncertificated REMIC I Pass-Through Rate for REMIC I Regular Interest A-I over the weighted average of (v) with respect to REMIC I Regular Interests ending with the designation "B," the weighted average of the Uncertificated REMIC I Pass-Through Rates for such REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balance of such REMIC I Regular Interests for each such Distribution Date, (w) with respect to REMIC I Regular Interest A-I, the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest, (x) with respect to REMIC I Regular Interest I, the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest, (y) with respect to REMIC I Regular Interest II, the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest, and (z) with respect to REMIC I Regular Interests ending with the designation "A," for each Distribution Date listed below, the weighted average of the rates listed below for each such REMIC I Regular Interest listed below, weighted on the basis of the Uncertificated Principal Balance of each such REMIC I Regular Interest for each such Distribution Date:
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Examples of REMIC II Net WAC Rate in a sentence

  • Group II REMIC II Net WAC Rate: With respect to any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates on the Group II Loans reduced by the REMIC II Net WAC Rate.

  • Since the launching of the Tropenbos-Cameroon programme (TCP) in 1992, its multi-disciplinary approach called for the active participation of the social sciences.


More Definitions of REMIC II Net WAC Rate

REMIC II Net WAC Rate. The interest portion of Realized Losses on Group I Loans, if any, shall be allocated among REMIC II Regular Interests Y-1 and Z-1, pro rata, according to the amount of interest accrued but unpaid thereon, in reduction thereof, and thereafter to REMIC II Regular Interest LT-IO in reduction thereof; and (2) the interest portion of Realized Losses on Group II Loans, if any, shall be allocated among REMIC II Regular Interests Y-2 and Z-2, pro rata, according to the amount of interest accrued but unpaid thereon, in reduction thereof, and thereafter to REMIC II Regular Interest LT-IO in reduction thereof. Any interest portion of such Realized Losses in excess of the amount allocated pursuant to the preceding sentence shall be treated as a principal portion of Realized Losses not attributable to any specific Mortgage Loan in such Loan Group and allocated pursuant to the succeeding sentences. The principal portion of Realized Losses on Group I Loans and Group II Loans shall be allocated to the REMIC II Regular Interests as follows:
Sample 1
REMIC II Net WAC Rate. For each Distribution Date, the weighted average of (a) the Certificate Interest Rate on each REMIC I Regular Interest beginning with the class designation “LTB”, (b) the Certificate Interest Rate on the Class LT-A-I Regular Interest and (c) the rate listed below for such Distribution Date for each REMIC I Regular Interest beginning with the class designation “LTA”, in each case, weighted according to Class Principal Balance: 2 Class LTA2 through Class LTA80 Class LTA1 (1) (2) 3 Class LTA3 through Class LTA80 Class LTA1 and Class LTA2 (1) (2) 4 Class LTA4 through Class LTA80 Class LTA1 through Class LTA3 (1) (2) 5 Class LTA5 through Class LTA80 Class LTA1 through Class LTA4 (1) (2) 6 Class LTA6 through Class LTA80 Class LTA1 through Class LTA5 (1) (2) 7 Class LTA7 through Class LTA80 Class LTA1 through Class LTA6 (1) (2) 8 Class LTA8 through Class LTA80 Class LTA1 through Class LTA7 (1) (2) 9 Class LTA9 through Class LTA80 Class LTA1 through Class LTA8 (1) (2) 10 Class LTA10 through Class LTA80 Class LTA1 through Class LTA9 (1) (2) 11 Class LTA11 through Class LTA80 Class LTA1 through Class LTA10 (1) (2) 12 Class LTA12 through Class LTA80 Class LTA1 through Class LTA11 (1) (2) 13 Class LTA13 through Class LTA80 Class LTA1 through Class LTA12 (1) (2) 14 Class LTA14 through Class LTA80 Class LTA1 through Class LTA13 (1) (2) 15 Class LTA15 through Class LTA80 Class LTA1 through Class LTA14 (1) (2) 16 Class LTA16 through Class LTA80 Class LTA1 through Class LTA15 (1) (2) 17 Class LTA17 through Class LTA80 Class LTA1 through Class LTA16 (1) (2) 18 Class LTA18 through Class LTA80 Class LTA1 through Class LTA17 (1) (2) 19 Class LTA19 through Class LTA80 Class LTA1 through Class LTA18 (1) (2) 20 Class LTA20 through Class LTA80 Class LTA1 through Class LTA19 (1) (2) 21 Class LTA21 through Class LTA80 Class LTA1 through Class LTA20 (1) (2) 22 Class LTA22 through Class LTA80 Class LTA1 through Class LTA21 (1) (2) 24 Class LTA24 through Class LTA80 Class LTA1 through Class LTA23 (1) (2) 25 Class LTA25 through Class LTA80 Class LTA1 through Class LTA24 (1) (2) 26 Class LTA26 through Class LTA80 Class LTA1 through Class LTA25 (1) (2) 27 Class LTA27 through Class LTA80 Class LTA1 through Class LTA26 (1) (2) 28 Class LTA28 through Class LTA80 Class LTA1 through Class LTA27 (1) (2) 29 Class LTA29 through Class LTA80 Class LTA1 through Class LTA28 (1) (2) 30 Class LTA30 through Class LTA80 Class LTA1 through Class LTA29 (1) (2) 31 Class LTA31 through Class LTA80 Class LTA1 ...
Sample 1
REMIC II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to the weighted average of (x) the Uncertificated REMIC I Pass-Through Rate for REMIC I Regular Interest I-1-B, (y) the Uncertificated REMIC I Pass-Through Rate for REMIC I Regular Interest A-I, and (z) with respect to REMIC I Regular Interest I-1-A, two (2) multiplied by Swap LIBOR, subject to a maximum rate equal to its Uncertificated REMIC I Pass-Through Rate, weighted on the basis of the Uncertificated Principal Balance of each such REMIC I Regular Interest for such Distribution Date.
Sample 1

Related to REMIC II Net WAC Rate

  • 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).

  • 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.

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

  • 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).

  • 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 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.

  • WAC Rate With respect to any Distribution Date, a per annum rate equal to the weighted average of the applicable Net Mortgage Pass-Through Rates of the Mortgage Loans (including the REO Mortgage Loans) for such Distribution Date, weighted on the basis of their respective Stated Principal Balances immediately prior to such Distribution Date.

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

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

  • 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).

  • REMIC Pass-Through Rate In the case of a Class of the Class A, Class M and Class B Certificates, the Upper Tier REMIC Net WAC Cap for the Corresponding REMIC Regular Interest.

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

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

  • 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.

  • Uncertificated REMIC II Pass-Through Rate With respect to any Distribution Date and each REMIC II Regular Interest other than REMIC II Regular Interest C, REMIC II Regular Interest P and REMIC II Regular Interest A-1, a rate per annum equal to the Pass-Through Rate for the Class of Corresponding Certificates for such Distribution Date; provided, however, that for this purpose the Net Rate Cap with respect to each such Class of Corresponding Certificates shall be equal to the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date. With respect to REMIC II Regular Interest A-1 and (i) any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (a) 6.50% per annum and (b) the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date, and (ii) any Distribution Date thereafter, the lesser of (a) 7.00% per annum and (b) the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date. With respect to REMIC II Regular Interest C, a rate per annum equal to the percentage equivalent of a fraction, the numerator of which is the sum of the amount determined for each REMIC I Regular Interest (other than REMIC I Regular Interest P) equal to the product of (x) the excess, if any, of the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest over the Marker Rate and (y) a notional amount equal to the Uncertificated Principal Balance of such REMIC I Regular Interest, and the denominator of which is the aggregate Uncertificated Principal Balance of such REMIC I Regular Interests. With respect to REMIC II Regular Interest P, 0.00% per annum.

  • 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).

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • 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 III Distribution Amount The REMIC III Available Distribution Amount for any Distribution Date shall be distributed to the Certificates and the Class R-3 Residual Interest in the following amounts and priority:

  • 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 2 As described in the Preliminary Statement.