Weighted Average REMIC I Remittance Rate means, with respect to any Interest Accrual Period, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective REMIC I Remittance Rates in effect for the REMIC I Regular Interests for such Interest Accrual Period, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to the related Distribution Date.
Weighted Average REMIC I Remittance Rate. As defined in Section 2.15(f).
Weighted Average REMIC I Remittance Rate. With respect to any Distribution Date, the weighted average of the respective REMIC I Remittance Rates applicable to the REMIC I Regular Interests for such Distribution Date, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to such Distribution Date.
Examples of Weighted Average REMIC I Remittance Rate in a sentence
Each of the fourteen REMIC II Regular Interests will be designated as a separate "regular interest" in REMIC II for purposes of the REMIC Provisions under federal income tax law and will have a REMIC II Remittance Rate equal to the Weighted Average REMIC I Remittance Rate.
The REMIC I Senior Regular Interest will have: (i) subject to adjustment as provided herein, a REMIC I Remittance Rate equal to the Weighted Average REMIC I Remittance Rate; and (ii) an initial REMIC Principal Balance equal to the Xxxxxx/Petsmart Senior Balance as of the Closing Date.
Except as provided below, the REMIC I Subordinate Regular Interest will have: (i) subject to adjustment as provided herein, a REMIC I Remittance Rate equal to the Weighted Average REMIC I Remittance Rate; and (ii) an initial REMIC Principal Balance equal to the Xxxxxx/Petsmart Subordinate Balance as of the Closing Date.
Each of the nine REMIC II Regular Interests will be designated as a separate "regular interest" in REMIC II for purposes of the REMIC Provisions under federal income tax law and will have a REMIC II Remittance Rate equal to the Weighted Average REMIC I Remittance Rate.
More Definitions of Weighted Average REMIC I Remittance Rate
Weighted Average REMIC I Remittance Rate. With respect to any Distribution Date, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective REMIC I Remittance Rates applicable to the REMIC I Regular Interests for such Distribution Date, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to such Distribution Date.
Weighted Average REMIC I Remittance Rate means, with respect to any Interest Accrual Period, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective REMIC I Remittance Rates in effect for the REMIC I Regular Interests (other than REMIC I Regular Interest ML-A-1-B and REMIC I Regular Interest CBM-A-1-B) for such Interest Accrual Period, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to the related Distribution Date.
Weighted Average REMIC I Remittance Rate. With respect to any Distribution Date, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective Xxxxxx/Petsmart Mortgage Loan Remittance Rates applicable to the Xxxxxx/Petsmart Mortgage Loans for such Distribution Date, weighted on the basis of the respective Stated Principal Balances of such Xxxxxx/Petsmart Mortgage Loans outstanding immediately prior to such Distribution Date.
Weighted Average REMIC I Remittance Rate. With respect to any Distribution Date, the weighted average of the respective REMIC I Remittance Rates applicable to the REMIC I Regular Interests for such Distribution Date, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to such Distribution Date; provided that, if the subject REMIC I Regular Interest does not accrue interest on the basis of a 360-day year consisting of twelve 30-day months, then, solely for purposes of calculating the Weighted Average REMIC I Remittance Rate for any Distribution Date, the REMIC I Remittance Rate for such REMIC I Regular Interest will be converted to the per annum rate that would produce, on the basis of a 360-day year consisting of twelve 30-day months, the actual amount of Accrued Certificate Interest in respect of such REMIC I Regular Interest for such Distribution Date.
Weighted Average REMIC I Remittance Rate means, with respect to any Interest Accrual Period, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective REMIC I Remittance Rates in effect for the REMIC I Regular Interests for such Interest Accrual Period, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to the related Distribution Date; provided that, for purposes of the foregoing, the REMIC I Remittance Rate in effect from time to time for the REMIC I Regular Interest issued in respect of the One Lincoln Street Trust Mortgage Loan shall be reduced by the REMIC II Remittance Rate for REMIC II Regular Interest X-OL.
Weighted Average REMIC I Remittance Rate. With respect to any Interest Accrual Period, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the REMIC I Remittance Rates applicable to the respective REMIC I Regular Interests for such Distribution Date, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to such Distribution Date.
Weighted Average REMIC I Remittance Rate means, with respect to any Interest Accrual Period, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the REMIC I Remittance Rates applicable to the respective REMIC I Regular Interests for such Interest Accrual Period, weighted on the basis of the respective Uncertificated Principal Balances of such REMIC I Regular Interests outstanding immediately prior to the related Distribution Date; provided that, for purposes of the foregoing, the respective REMIC I Remittance Rates for REMIC I Regular Interest ______-1 and REMIC I Regular Interest ______-2 shall, in each case, be reduced by the REMIC II Remittance Rate for REMIC II Regular Interest X-______.