Remittance Rate definition

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

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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. As to any Remittance Date, the lesser of (i) 4.70% per annum and (ii) the Weighted Average Net Contract Rate for such Remittance Date.

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

Remittance Rate. As specified $[__________] $[__________] in the Pooling and Servicing Agreement referred to herein Remittance Date after Latest Due Date: ____ __, ____ First Remittance Date: CUSIP _______________ December 9, 2002 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). Except as set forth in the Pooling and Servicing Agreement, this Certificate does not represent an obligation of or interest in Vanderbilt, 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. CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT. On the date of the initial issuance of the Certificates, the Paying Agent is the Trustee. 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 Vanderbilt 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. The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement"), by and among Vanderbilt, as seller and servicer, Clayton Homes, Inc., as provider of the Limited Guarante▇, ▇▇▇ JPMorgan Chase 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. This Certificate is one of a duly authorized issue of Certificates, designated as Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2002-C (the "Certificates"), and is issued under and is subject to the terms, provisions a...

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. Floating Rate equal February 1, 1997 to the Weighted Average Contract Rate (subject to a maximum of ____%) First Remittance Date: Denomination: $___________ ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Denomination of All Class B-[1][2] Certificates: Servicer: $___________ Green Tree Financial Corporation Maturity Date: March 15, 2028 (or if such day is not a Business Day, then the next succeeding Business Day) CUSIP: 393505 _____

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 for the Class IIA-1 Certificates shall be the Class IIA-1 Interest Rate. The "Remittance Rate" for the Class IIA-2 Certificates shall be the Class IIA-2 Interest Rate. The "Remittance Rate" for the Class IIA-3 Certificates shall be the Class IIA-3 Interest Rate. The "Remittance Rate" for the Class IIA-4 Certificates shall be the Class IIA-4 Interest Rate. The "Remittance Rate" for the Class IIA-5 Certificates shall be the Class IIA-5 Interest Rate. The "Remittance Rate" for the Class R Certificates shall be the Class R Interest Rate. The "Remittance Rate" for the Subordinate Certificates shall be the Subordinate Interest Rate.