REMIC II Subordinated Balance Ratio definition

REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Balances of each REMIC II Regular Interest ending with the designation “SUB,”, equal to the ratio between, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Group I Mortgage Loans or Group II Mortgage Loans, as applicable over (y) the current Certificate Principal Balance of related Class A Certificates.
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REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of each REMIC II Regular Interest ending with the designation “Sub”, equal to the ratio among, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group I or the Mortgage Loans in Loan Group II, as applicable, over (y) the current Certificate Principal Balance of the related Class A Certificates. REMIC II Required Overcollateralization Amount: 0.50% of the Overcollateralization Target Amount.
Sample 1Sample 2Sample 3
REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of each of the REMIC II Regular Interests ending with the designation "A," equal to the ratio among:
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More Definitions of REMIC II Subordinated Balance Ratio

REMIC II Subordinated Balance Ratio. The ratio between the principal balances of each of the REMIC II Regular Interests ending with the designation "A," equal to the ratio of: (1) the Group I Subordinate Amount, to the (2) Group II Subordinate Amount.
Sample 1Sample 2
REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of each of the REMIC II Regular Interests ending with the designation “Sub,” equal to the ratio among, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group II-1 and Loan Group II-2 (other than any principal balance attributable to the Class II-1PO Certificates and Class II-2PO Certificates), as applicable, over (y) the aggregate Certificate Principal Balance of the related Group II Senior Certificates (other than the Class II-1PO Certificates and Class II-2PO Certificates).
Sample 1Sample 2
REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of each REMIC II Regular Interest ending with the designation "A" (other than REMIC II Regular Interest AA), equal to the ratio among, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group I or the Mortgage Loans in Loan Group II or the Mortgage Loans in Loan Group III, as applicable over (y) the current Certificate Principal Balance of the related Class A Certificates. REMIC II REQUIRED OVERCOLLATERALIZATION AMOUNT: 0.50% of the Overcollateralization Target Amount.
Sample 1
REMIC II Subordinated Balance Ratio. The ratio among the principal balances of the Class II-3B Interest, Class II-4B Interest, Class II-5B Interest, Class II-6B Interest, Class II-7B Interest and Class II-8B Interest equal to the ratio among the Group Subordinate Amounts for each of Loan Group 3, Loan Group 4, Loan Group 5, Loan Group 6, Loan Group 7 and Loan Group 8.
Sample 1
REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of each of the REMIC II Regular Interests ending with the designation “Sub,” equal to the ratio among, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Scheduled Principal Balance of the Group II Mortgage Loans in the related Subgroup (other than the Group II PO Percentage of the Scheduled Principal Balance of any such Group II Mortgage Loans) over (y) the aggregate Current Principal Amount of the Group II Senior Certificates (other than the Class II-PO Certificates) in the related Subgroup.
Sample 1
REMIC II Subordinated Balance Ratio. The ratio among the Uncertificated Principal Balances of REMIC II Regular Interests I-A and II-A, equal to the ratio among, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Group I Loans (in the case of REMIC II Regular Interest I-A) or the Group II Loans (in the case of REMIC II Regular Interest II-A), as applicable over (y) the current Certificate Principal Balance of Class A-I Certificates (in the case of REMIC II Regular Interest I-A) or the Class A-II Certificates (in the case of REMIC II Regular Interest II-A) .
Sample 1

Related to REMIC II Subordinated Balance Ratio

  • REMIC I Subordinated Balance Ratio The ratio among the Uncertificated Principal Balances of each of the REMIC I Regular Interests ending with the designation "A," equal to the ratio among, with respect to each such REMIC I Regular Interest, the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the Current Principal Amount of the Senior Certificates in the related Group.

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

  • Original Subordinate Principal Balance The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.

  • Lower-Tier Regular Interest Each of the Class LT-A-1, Class LT-A-2, Class LT-M-1, Class LT-M-2, Class LT-B-1 and Class LT-Accrual Interests as described in the Preliminary Statement.

  • Uncertificated Balance The amount of the REMIC Regular Interests outstanding as of any date of determination. As of the Closing Date, the Uncertificated Balance of each REMIC Regular Interest shall equal the amount set forth in the Preliminary Statement hereto as its initial uncertificated balance. On each Distribution Date, the Uncertificated Balance of the REMIC Regular Interest shall be reduced by all distributions of principal made on such REMIC Regular Interest on such Distribution Date pursuant to Section 5.01 of this Agreement and, if and to the extent necessary and appropriate, shall be further reduced on such Distribution Date by Realized Losses as provided in Section 5.04 of this Agreement and the Uncertificated Balance of REMIC II Regular Interest ZZ shall be increased by interest deferrals as provided in Section 5.01 of this Agreement. The Uncertificated Balance of each REMIC Regular Interest shall never be less than zero.

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

  • Original Subordinated Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • 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 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.

  • Regular interest A “regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the Code.

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

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

  • 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 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).

  • Lower-Tier Regular Interests The respective classes of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Lower-Tier REMIC, designated as the Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-AB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG and Class LVRR Lower-Tier Regular Interests.

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

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