Subsequent Mortgage Loan Interest. Any amount constituting a monthly payment of interest received or advanced at the Net Mortgage Rate (less the Trustee Fee Rate) with respect to (i) a Subsequent Group I Mortgage Loan during the Due Period relating to the first three Distribution Dates in excess of 0.00% per annum and (ii) a Subsequent Group II Mortgage Loan during the Due Period relating to the first three Distribution Dates in excess of 0.00% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class C Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting an Interest Remittance Amount (other than an amount withdrawn from the Capitalized Interest Account pursuant to clause (5) of the definition of "Interest Remittance Amount") received or advanced with respect to a Subsequent Mortgage Loan during the Due Periods relating to the October 2002, November 2002 or December 2002 Distribution Dates, but only to the extent of the excess of such amount over the amount of interest accruing on such Subsequent Mortgage Loan during the related period at a per annum rate equal to 4.00%, 4.26% and 4.46%, respectively. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Mortgage Loan (i) during the Due Period relating to the first Distribution Date in excess of 3.4605% per annum and (ii) during the Due Period relating to the second Distribution Date in excess of 3.3035% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class CE Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any Trust REMIC.
Examples of Subsequent Mortgage Loan Interest in a sentence
The Class CE Certificates will also be entitled to Subsequent Mortgage Loan Interest, as a right with respect to a component of the Class CE Certificates that will not be treated as a REMIC regular interest but rather as separate interest strips from the Subsequent Mortgage Loans for a specified period of time.
As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Pre-Funding Accounts, the Interest Coverage Accounts, any Subsequent Mortgage Loan Interest, the Excess Reserve Fund Account, the Supplemental Interest Trust and the Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as REMIC I.
The Class C Interest will also be entitled to the Subsequent Mortgage Loan Interest, as a right with respect to a component of the Class C Interest that will not be treated as a REMIC Regular Interest but rather as separate interest strips from the Subsequent Mortgage Loans for a specified period of time.
The Trustee shall, promptly upon receipt, deposit in the Capitalized Interest Account and retain therein (i) the Capitalized Interest Amount remitted on the Closing Date to the Trustee by the Depositor and (ii) the amount of any Subsequent Mortgage Loan Interest remitted by the Servicer pursuant to Section 3.08(a).
On the Distribution Dates occurring in September 2002, October 2002 and November 2002, to the Depositor an amount equal to the amount received during the related Due Period which constitutes Subsequent Mortgage Loan Interest.
More Definitions of Subsequent Mortgage Loan Interest
Subsequent Mortgage Loan Interest. Any amount constituting (i) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group I Mortgage Loan during the Due Periods relating to the first three Distribution Dates in excess of 0.00% per annum and (ii) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group II Mortgage Loan during the Due Periods relating to the first three Distribution Dates in excess of 0.00% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class CE Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any Trust REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting (i) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group I Mortgage Loan during the Due Periods relating to the first three Distribution Dates in excess of 0.00% per annum, (ii) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group II Mortgage Loan during the Due Periods relating to the first three Distribution Dates in excess of 0.00% per annum and (iii) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group III Mortgage Loan during the Due Periods relating to the first three Distribution Dates in excess of 0.00% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class CE Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any Trust REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting (i) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Mortgage Loan in Loan Group I during the Due Periods relating to the first Distribution Date in excess of 0.000% per annum and (ii) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Mortgage Loan in Loan Group II during the Due Periods relating to the first Distribution Date in excess of 0.000% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class C Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting an Interest Remittance Amount (other than an amount withdrawn from the related Capitalized Interest Account pursuant to clause (5) of the definition of “Interest Remittance Amount”) received or advanced with respect to a Subsequent Mortgage Loan during the Due Periods relating to the January 2006, February 2006 or March 2006 Distribution Dates, but only to the extent of the excess of such amount over the amount of interest accruing on such Subsequent Mortgage Loan during the related period at a per annum rate equal to 4.72%, 5.39% and 5.29%, respectively. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC. Subsequent Transfer Agreement: A Subsequent Transfer Agreement substantially in the form of Exhibit N hereto, executed and delivered by the related Servicer, the Depositor, the Seller and the Trustee as provided in Section 2.01 hereof.
Subsequent Mortgage Loan Interest. Any amount constituting (i) a monthly payment of interest received or advanced at the Adjusted Mortgage Rate with respect to a Subsequent Mortgage Loan in Loan Group I during the Remittance Period relating to the first Distribution Date in excess of 9.3754% per annum and (ii) a monthly payment of interest received or advanced at the Adjusted Mortgage Rate with respect to a Subsequent Mortgage Loan in Loan Group II during the Remittance Period relating to the first Distribution Date in excess of 9.3754% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class C Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting (i) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group I Mortgage Loan during the Due Periods relating to (a) the first Distribution Date in excess of 0% per annum, (b) the second Distribution Date in excess of 0% and (c) the third Distribution Date in excess of 0% per annum and (ii) a monthly payment of interest received or advanced at the Net Mortgage Rate with respect to a Subsequent Group II Mortgage Loan during the Due Periods relating to (a) the first Distribution Date in excess of 0% per annum, (b) the second Distribution Date in excess of 0% per annum and (c) the third Distribution Date in excess of 0% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class CE Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any Trust REMIC.
Subsequent Mortgage Loan Interest. Any amount constituting a monthly payment of interest received or advanced at the Net Mortgage Rate (adjusted for payments of the Guarantee Fee and the Trustee Fee) with respect to (i) a Subsequent Group I Mortgage Loan during the Due Period relating to the first Distribution Date in excess of 4.8259% per annum, (ii) a Subsequent Group I Mortgage Loan during the Due Period relating to the second Distribution Date in excess of 4.5074% per annum, (iii) a Subsequent Group II Mortgage Loan during the Due Period relating to the first Distribution Date in excess of 4.470% per annum and (iv) a Subsequent Group II Mortgage Loan during the Due Period relating to the second Distribution Date in excess of 3.0322% per annum. The Subsequent Mortgage Loan Interest shall be distributable to the Class CE Certificates. The Subsequent Mortgage Loan Interest shall not be an asset of any REMIC.