Class LA-1 Component definition
Class LA-1 Component. A non-certificated beneficial ownership interest in REMIC III, designated as a "regular interest" therein and entitled to distributions of interest, subject to the terms and conditions hereof, in an amount based upon the Class LA-1 Component Rate and the Uncertificated Principal Balance of REMIC II Regular Interest LA-1 outstanding from time to time.
Class LA-1 Component. The amount, if any, by which the Weighted Average Net Mortgage Rate for such Distribution Date exceeds the Class A-1 Pass-Through Rate.
Class LA-1 Component. With respect to the Class X Certificates, at any date of determination, that portion of the Class X Notional Amount equal to the Uncertificated Principal Balance of the Class LA-1 Uncertificated Interest.