WEIGHTED AVERAGE REMITTANCE RATE definition
WEIGHTED AVERAGE REMITTANCE RATE. With respect to any Distribution Date, the rate per annum equal to the weighted average, expressed as a percentage and rounded to four decimal places, of the Remittance Rates in effect for the Mortgage Loans as of the commencement of the related Collection Period, weighted on the basis of the respective Stated Principal Balances of such Mortgage Loans outstanding immediately following the Distribution Date in the related Collection Period.
WEIGHTED AVERAGE REMITTANCE RATE. With respect to any Payment Date, (i) the rate per annum equal to the weighted average, by Stated Principal Balance, expressed as a percentage and rounded to eight decimal places, of the Remittance Rates on the Mortgage Loans prior to giving effect to distributions thereon in the Collection Period immediately preceding such Payment Date, less (ii) the Additional Fee Rate; provided that for purposes of calculating the Weighted Average Remittance Rate, the Mortgage Interest Rates will not reflect any default interest or increase in a Mortgage Interest Rate occurring after the related Loan Maturity Date. The Mortgage Interest Rates will also be determined without regard to any Mortgage Loan modifications, waivers or amendments entered into after the Cut-Off Date. If a Mortgage Loan accrues interest based on a 360-day year consisting of twelve 30-day months, its interest rate for any month that is not a 30-day month will be recalculated so that the amount of interest that would accrue at that rate in such month, calculated based on the actual number of days elapsed in such month and a 360-day year, will equal the amount of interest that actually accrues on that Mortgage Loan in that month.
WEIGHTED AVERAGE REMITTANCE RATE. Means the average of the Interest Rate for each outstanding class of Notes, weighted by the Class Principal Balance of each such class of Notes.
More Definitions of WEIGHTED AVERAGE REMITTANCE RATE
WEIGHTED AVERAGE REMITTANCE RATE. With respect to any Distribution Date, a per annum rate equal to a fraction (expressed as a percentage) the numerator of which is the sum of the products of (i) the Remittance Rate for each Mortgage Loan as of the Due Date occurring in the month immediately preceding the month in which such Distribution Date occurs, and (ii) the Scheduled Principal Balance of the related Mortgage Loan as of such Due Date, after giving effect to all payments of principal due on such Mortgage Loan on such Due Date, and the denominator of which is the sum of the Scheduled Principal Balances of each Mortgage Loan as of the Due Date occurring in the month preceding the month in which such Distribution Date occurs (after giving effect to all payments of principal due on such Mortgage Loan on such Due Date).
WEIGHTED AVERAGE REMITTANCE RATE. Means for each Pool, the average of the Remittance Rate for each outstanding Class of Notes of such Pool, weighted by the Class Principal Balance of each such Class of Notes.
WEIGHTED AVERAGE REMITTANCE RATE. Means the average of the Class A-1 Remittance Rate, the Class A-2 Remittance Rate, the Class A-3 Remittance Rate, the Class M-1 Remittance Rate, the Class M-2 Remittance Rate, the Class B-1 Remittance Rate and the Class B-2 Remittance Rate, weighted by the Class Principal Balances of the Certificates.