Tax Pass Through Rate definition

Tax Pass Through Rate. The excess of (a) the Weighted Average Adjusted Net Mortgage Rate of the Mortgage Loans over (b) the product of: (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the related Component Notional Amounts of the related Components of the Class 1-X Certificates and (ii) 12, divided by the the sum of the principal balances in respect of the Class LT-X-1 Interest, Class LT-Y-1 Interest and Class LT-C Interest.
Sample 1
Tax Pass Through Rate. The excess of (a) the Weighted Average Adjusted Net Mortgage Rate of the Mortgage Loans in Loan Group 1 over (b) the product of: (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the related Component Notional Amounts of the related Components of the Class 1-X Certificates and (ii) 12, divided by the the sum of the principal balances in respect of the Class LT-X-1-X Interest, Class LT-Y-1-X Interest, LT-A-1 and LT-B-1 and LT-C-1 Interests.
Sample 1
Tax Pass Through Rate. The excess of (a) the Weighted Average Adjusted Net Mortgage Rate of the Mortgage Loans in Calculation Group 2 over (b) the product of: (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the related Component Notional Amounts of the related Components of the Class 2-X Certificates and (ii) 12, divided by the the sum of the principal balances in respect of the Class LT-X-2-X Interest, Class LT-Y-2-X Interest and LT-Z-2 Interest.
Sample 1

Examples of Tax Pass Through Rate in a sentence

  • They were asked to provide three independent analytical results of the total concentration of SCCPs (ΣSCCPs) in µg/g iso-octane, using the provided quantification standard and an analytical method of their choice (i.e. acquisition, calibration and quantification).

  • Class 1-BI-X Target Principal Balance: The quotient of: (a) the product of: (i) the Class 1-BI Tax Pass Through Rate and (ii) the principal balance of the Class 1-BI-Y Interests for the immediately preceding Distribution Date, and (b) the product of (i) two and (ii) the Weighted Average Adjusted Net Mortgage Rate minus the Class 1-BI Tax Pass Through Rate.

  • Commitment 29Prepare a legislative proposal that will enable publishing of evaluations of judges and submit it to the Government.Responsible: Minister of Justice Deadline: December 31, 2015 The current legislation contains an obligation to publish judicial decisions30 but experience has shown that many decisions are not being published despite the legal obligation.

  • Nonetheless, the government assigned CWT a Marginal rating, which was not consistent with a finding that CWT, either the company or its FPR, was not qualified and capable of performing the ETS2 work at a reasonable price, but rather was a finding that CWT’s proposal did not meet “[g]overnment requirements necessary for acceptable contract performance, but issues are correctable.” Tab 2 at AR 767, 774.

  • Class 1-PP-Y Target Principal Balance: The quotient of: (a) the product of: (i) two times the Weighted Average Adjusted Net Mortgage Rate, less the Class 1-PP Tax Pass Through Rate and (ii) the principal balance of the Class 1-PP-X Interests for the immediately preceding Distribution Date, and (b) the Class 1-PP Tax Pass Through Rate.

  • Class 1-PP Tax Pass Through Rate: The excess of (a) the Weighted Average Adjusted Net Mortgage Rate over (b) the product of: (i) the Net Current Interest payable to the Class PP Certificates for such Distribution Date for such Distribution Date and (ii) 12, divided by the the sum of the principal balances in respect of the REMIC 1 Interests.

  • Class 1-BI Tax Pass Through Rate: The excess of (a) the Weighted Average Adjusted Net Mortgage Rate over (b) the product of: (i) the Net Current Interest payable to the Class BI Certificates for such Distribution Date for such Distribution Date and (ii) 12, divided by the the sum of the principal balances in respect of the REMIC 1 Interests.

  • Class 1-AD-X Target Principal Balance: The quotient of: (a) the product of: (i) the Class 1-AD Tax Pass Through Rate and (ii) the principal balance of the Class 1-AD-Y Interests for the immediately preceding Distribution Date, and (b) the product of (i) two and (ii) the Weighted Average Adjusted Net Mortgage Rate minus the Class 1-AD Tax Pass Through Rate.

  • Class 1-BJ Tax Pass Through Rate: The excess of (a) the Weighted Average Adjusted Net Mortgage Rate over (b) the product of: (i) the Current Interest payable to the Class BJ Certificates for such Distribution Date and (ii) 12, divided by the the sum of the principal balances in respect of the REMIC 1 Interests.

  • Class 1-AD Tax Pass Through Rate: The excess of (a) the Weighted Average Adjusted Net Mortgage Rate over (b) the product of: (i) the Current Interest payable to the Class AD Certificates for such Distribution Date and (ii) 12, divided by the the sum of the principal balances in respect of the REMIC 1 Interests.

Related to Tax Pass Through Rate

  • Pass-Through Rate For any interest bearing Class of Certificates or Component, the per annum rate set forth or calculated in the manner described in the Preliminary Statement.

  • Net WAC Pass-Through Rate With respect to the Class A-1 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group I Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group I Mortgage Loans for such Distribution Date and the Group I Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group I Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Class A-2 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group II Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group II Mortgage Loans for such Distribution Date and the Group II Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group II Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Mezzanine Certificates and any Distribution Date a rate per annum equal to the weighted average (weighted in proportion to the results of subtracting from the Scheduled Principal Balance of each loan group, the Certificate Principal Balance of the related Class A Certificates), of (i) the Net WAC Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the Class A-2 Certificates. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rates on (a) REMIC II Regular Interest I-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, and (b) REMIC II Regular Interest II-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of each such REMIC II Regular Interest.

  • Class H Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Fixed Pass-Through Rate Floating Pass-Through Rate" "Guaranteed Investment Contract"

  • Class X-B Pass-Through Rate For any Distribution Date, the Class X Strip Rate for the Class X-B Component for such Distribution Date.

  • Class A Fixed Pass-Through Rate As to any Distribution Date, the rate per annum set forth in Section 11.01.

  • Class X-A Pass-Through Rate For any Distribution Date, the weighted average of Class X Strip Rates for the Class X-A Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class C Pass-Through Rate For any Distribution Date, a per annum rate equal to the WAC Rate for such Distribution Date.

  • Class B-2 Pass-Through Rate For the first Distribution Date, 6.850% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-2 Margin,

  • 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.

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.4350% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class B Pass-Through Rate As to any Distribution Date, 6.750% per annum.

  • Class F Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class A Pass-Through Rate As to the Class A-1 and Class A-R Certificates, the Class A Fixed Pass-Through Rate. The Class A-PO Certificates are not entitled to interest and have no Class A Pass-Through Rate.

  • Class G Pass-Through Rate For any Distribution Date, a per annum rate equal to the WAC Rate for such Distribution Date.

  • Class A-S Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.4150%.

  • Class E Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class D Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.00000%.

  • Class A-5 Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.1156%.

  • Class A-1 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.0840%.

  • Class B-3 Pass-Through Rate For the first Distribution Date, 4.120% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-3 Margin, (2) the Weighted Maximum Rate Cap and (3) the Available Funds Cap for such Distribution Date.

  • Net Mortgage Pass-Through Rate (a) With respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on a 30/360 Basis, for any Distribution Date, the Net Mortgage Rate in effect for such Mortgage Loan during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date; and (b) with respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on an Actual/360 Basis, for any Distribution Date, the annualized rate at which interest would have to accrue in respect of such Mortgage Loan on a 30/360 Basis in order to produce the aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued) in respect of such Mortgage Loan (adjusted to the related Net Mortgage Rate and, if applicable, exclusive of any Excess Interest) during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date. However, with respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, when determining: (i) the related Net Mortgage Pass-Through Rate for the Distribution Date in January (except during a leap year) or February of any year subsequent to 2017 (in any event unless that Distribution Date is the final Distribution Date), the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to exclude related Withheld Amounts to be transferred to the Interest Reserve Account in such month; or (ii) the related Net Mortgage Pass-Through Rate for the Distribution Date in March (or in February if the final Distribution Date occurs in such particular month of February) in any year subsequent to 2017, the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to include related Withheld Amounts to be deposited in the Lower-Tier REMIC Distribution Account for distribution on such Distribution Date. In addition, the Net Mortgage Pass-Through Rate with respect to any Mortgage Loan for any Distribution Date shall be determined without regard to: (i) any modification, waiver or amendment of the terms of such Mortgage Loan, whether agreed to by the Master Servicer, the Special Servicer, an Outside Servicer or an Outside Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the related borrower; (ii) the occurrence and continuation of a default under such Mortgage Loan; (iii) the passage of the related maturity date or, in the case of an ARD Mortgage Loan, the related Anticipated Repayment Date; and (iv) the related Mortgaged Property becoming an REO Property.

  • Class A-2 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.278%.

  • Class A-4 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.469%.

  • Class A-3 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.8600%.