Remittance Rate definition

Remittance Rate. With respect to each Mortgage Loan, the related Note Rate minus the Servicing Fee Rate.

Remittance Rate. As to any Remittance Date, the lesser of (i) 7.12% per annum and (ii) the Weighted Average Net Contract Rate for such Remittance Date.

Remittance Rate means with respect to each Class of Certificates, the rate set forth for such Class in Section 2.05(b).

Examples of Remittance Rate in a sentence

• On the Business Day immediately preceding each Remittance Date, the Company shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01.

• On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date.

• The following table irrevocably sets forth the designation, the REMIC I Remittance Rate, the initial Uncertificated Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interests (as defined herein).

• The following table sets forth the designation, the REMIC II Remittance Rate and the initial Uncertificated Principal Balance for each of the REMIC II Regular Interests.

• On the Business Day immediately preceding each Remittance Date, the Company shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01.

More Definitions of Remittance Rate

Remittance Rate. For each Class of interest bearing Certificates or Components, the per annum rate set forth as the Remittance Rate for such Class or Component in the Preliminary Statement hereto.

Remittance Rate. As specified $[__________] in the Pooling and Servicing $[__________] Agreement referred to herein $[__________] $[__________] Remittance Date after Latest Due Date: ____ __, ____ First Remittance Date: CUSIP _____________________ July 7, 2002 B1-2 VANDERBILT MORTGAGE AND FINANCE, INC. which manufactured housing contracts either were originated or acquired by Vanderbilt Mortgage and Finance, Inc. (hereinafter called the "Company," which term includes any successor entity under the Agreement referred to below) and are initially serviced by Vanderbilt Mortgage and Finance, Inc. (in such capacity, the "Servicer", which term includes any entity under the Agreement referred to below). This Certificate does not represent an obligation of or interest in the Company, the Servicer or the Trustee referred to below or any of their Affiliates. Neither this Certificate nor the underlying manufactured housing contracts are guaranteed or insured by Vanderbilt Mortgage and Finance, Inc., the Servicer or by any governmental agency or instrumentality. This certifies that CEDE & CO. is the registered owner of an undivided interest in certain monthly distributions with respect to a pool (the "Contract Pool") of conventional manufactured housing installment sales contracts, installment loan agreements and mortgage loans (collectively, the "Contracts") formed and sold by the Company and certain other property (collectively, the "Trust Fund"). The Contracts either were originated or acquired by and are serviced by the Servicer and are secured by Manufactured Homes or Mortgage Properties, as applicable. The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement"), by and among the Company, as servicer, Clayton Homes, Inc., as provider of the Limited Guarantee and JPMorgax Xxxxx Bank, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement.

Remittance Rate. For each Class of interest bearing Certificates, the per annum rate set forth as the Remittance Rate for such Class in the Preliminary Statement hereto.

Remittance Rate. The Group One Remittance Rate or the Group Two Remittance Rate, as applicable.

Remittance Rate. The REMIC I Remittance Rate, REMIC II Remittance Rate or REMIC III Remittance Rate, as applicable.

Remittance Rate. As to each Class of Certificates, the Class A-1 Remittance Rate, the Class A-2 Remittance Rate, the Class A-3 Remittance Rate, the Class A-4 Remittance Rate, the Class A-5 Remittance Rate, the Class M-1 Remittance Rate, the Class B-1 Remittance Rate or the Class B-2 Remittance Rate, as applicable.

Remittance Rate. Floating Rate equal May 1 or June 1, 1997 to the Weighted Average Contract Rate (subject to a maximum of ____%) First Remittance Date: Denomination: $___________ June 16, 0000 Xxxxxxxxx Xxxxxxxxxxxx of All Class B-[1][2] Certificates: Servicer: $___________ Green Tree Financial Corporation Maturity Date: April 15, 2029 (or if such day is not a Business Day, then the next succeeding Business Day) CUSIP: 393505 _____