Uncertificated REMIC 1 Pass-Through Rate. With respect to each REMIC 1 Regular Interest and any Distribution Date, a per annum rate equal to the average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs.

Uncertificated REMIC 1 Pass-Through Rate. With respect to REMIC 1 Regular Interest LT1 and REMIC 1 Regular Interest LTP, and (i) the first Distribution Date, the weighted average of the Adjusted Net Mortgage Rates of the Initial Group I Mortgage Loans and (ii) thereafter, the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans. With respect to REMIC 1 Regular Interest LT2, and (i) the first Distribution Date, the weighted average of the Adjusted Net Mortgage Rates of the Initial Group II Mortgage Loans and (ii) thereafter, the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans. With respect to REMIC 1 Regular Interest LT1PF and (i) the first three Distribution Dates, 0.00% and (ii) thereafter, the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans. With respect to REMIC 1 Regular Interest LT2PF and (i) the first three Distribution Dates, 0.00% and (ii) thereafter, the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans.

Examples of Uncertificated REMIC 1 Pass-Through Rate in a sentence

The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal 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 1 Regular Interests (as defined herein).
The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal 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 1 Regular Interests.
The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal 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 1 Regular Interests (as defined herein).
The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests.
REMIC 1 Regular Interest LTI-S2 shall accrue interest at the related Uncertificated REMIC 1 Pass-Through Rate in effect from time to time, and shall not be entitled to distributions of principal.

More Definitions of Uncertificated REMIC 1 Pass-Through Rate

Uncertificated REMIC 1 Pass-Through Rate. With respect to REMIC 1 Regular Interest IX, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans. With respect to each REMIC 1 Group I Regular Interest ending with the designation “A”, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans multiplied by 2, subject to a maximum rate of two times the Swap Rate. With respect to each REMIC 1 Group I Regular Interest ending with the designation “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2 multiplied by the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans over (ii) two times the Swap Rate and (y) 0.00%. With respect to REMIC 1 Regular Interest IIX, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans. With respect to each REMIC 1 Group II Regular Interest ending with the designation “A”, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans multiplied by 2, subject to a maximum rate of two times the Swap Rate. With respect to each REMIC 1 Group II Regular Interest ending with the designation “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2 multiplied by the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans over (ii) two times the Swap Rate and (y) 0.00%.

Uncertificated REMIC 1 Pass-Through Rate. For any Distribution Date and each REMIC 1 Regular Interest, the Unadjusted Net WAC 30/360 Rate of the Mortgage Loans for such Distribution Date.

Uncertificated REMIC 1 Pass-Through Rate. With respect to REMIC 1 Regular Interest I and REMIC 1 Regular Interest P, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans. With respect to each REMIC 1 Regular Interest ending with the designation “A”, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans multiplied by 2, subject to a maximum rate of 10.700%. With respect to each REMIC 1 Regular Interest ending with the designation “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2 multiplied by the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans over (ii) 10.700% and (y) 0.00%.

Uncertificated REMIC 1 Pass-Through Rate. With respect to REMIC 1 Regular Interest I, a per annum rate equal to the weighted average Net Loan Rate of the Mortgage Loans. With respect to each REMIC 1 Regular Interest ending with the designation “A”, a per annum rate equal to the weighted average Net Loan Rate of the Mortgage Loans multiplied by 2, subject to a maximum rate of 10.50%. With respect to each REMIC 1 Regular Interest ending with the designation “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2 multiplied by the weighted average Net Loan Rate of the Mortgage Loans over (ii) 10.50% and (y) 0.00%.

Uncertificated REMIC 1 Pass-Through Rate. With respect to REMIC 1 Regular Interest LT1 and REMIC 1 Regular Interest LTP, and (i) for the first Distribution Date, the weighted average of the Net Mortgage Rates of the Initial Group I Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any, and (ii) thereafter, the weighted average of the Net Mortgage Rates of the Group I Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any. With respect to REMIC 1 Regular Interest LT2, and (i) for the first Distribution Date, the weighted average of the Net Mortgage Rates of the Initial Group II Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any and (ii) thereafter, the weighted average of the Net Mortgage Rates of the Group II Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any. With respect to REMIC 1 Regular Interest LT1PF and (i) the first Distribution Date, 0.00% and (ii) thereafter, the weighted average of the Net Mortgage Rates of the Group I Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any. With respect to REMIC 1 Regular Interest LT2PF and (i) the first Distribution Date, 0.00% and (ii) thereafter, the weighted average of the Net Mortgage Rates of the Group II Mortgage Loans less the PMI Premium Rate for each such Mortgage Loan, if any.

Uncertificated REMIC 1 Pass-Through Rate. With respect to each REMIC 1 Regular Interest (other than REMIC 1 Regular Interest LT-1PF) and the Interest Accrual Periods in September 2002, October 2002 and November 2002, a per annum rate equal to the Initial Mortgage Loan Net WAC Rate; with respect to REMIC 1 Regular Interest LT-1PF and the Interest Accrual Periods in (a) September 2002, (b) October 2002 and (c) November 2002, a per annum rate equal to (a) 4.02%, (b) 4.16% and (c) 4.37%, respectively; with respect to each REMIC 1 Regular Interest and each Interest Accrual Period thereafter, the weighted average of the Net Mortgage Rates on the Mortgage Loans.

Uncertificated REMIC 1 Pass-Through Rate. With respect to each REMIC 1 Regular Interest, the weighted average of the Net Mortgage Rates on the Mortgage Loans, weighted based on their principal balances as of the first day of the related Due Period.

Uncertificated REMIC 1 Pass-Through Rate definition

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