Tax Pass Through Rate definition
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 2-X Certificates for such Distribution Date for such Distribution Date and (ii) 12, divided by the sum of the principal balances in respect of the REMIC 1 Interests (other than the Class 1-P-1 and Class 1-P-2 Interest).
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 Interest, LT-B-1 Interest ▇▇▇ ▇▇-▇-▇ ▇▇▇▇▇▇▇▇.
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, ▇▇-▇-▇ ▇▇▇▇▇▇▇▇, ▇▇-▇-▇ Interest and LT-C-1 Interest.