Class X Notional Amount definition

Class X Notional Amount. As of any date of determination, the sum of the then Component Notional Amounts of all the Components.

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Class X Notional Amount means, with respect to the Class X Certificates and any date of determination, the aggregate of the outstanding Certificate Balances of the Principal Balance Certificates.

Class X Notional Amount. With respect to any Distribution Date, the product of (x) the aggregate scheduled principal balance, as of the second preceding Due Date after giving effect to payments scheduled to be received as of such Due Date, whether or not received (and after giving effect to Principal Prepayments, Monthly P&I Advances and the principal portion of Realized Losses applied prior to such Due Date), or with respect to the initial Distribution Date, as of the Cut-Off Date, of the Premium Rate Mortgage Loans and (y) a fraction, the numerator of which is the weighted average of the Stripped Interest Rates for the Premium Rate Mortgage Loans as of such Due Date and the denominator of which is 5.000%.

Examples of Class X Notional Amount in a sentence

REMIC III The following table sets forth the designation, Pass-Through Rate and Original Class Balance (or in the case of Class X, Notional Amount) for each Class of Certificates comprising the interests in the Trust Fund created hereunder and each Class of REMIC III Certificates comprising the interests in REMIC III.
For purposes of the REMIC Provisions, the Class X Notional Amount may be described as the Sum of the Component Notional Amounts of the Component Interests at such time.
On any Distribution Date, any amounts on deposit in the Basis Risk Reserve Fund in excess of the Required Basis Risk Reserve Fund Amount shall be distributed to the Class X-N Interest pursuant to Section 4.02(b)(xviii) until the Class N Notional Amount is reduced to zero and then pursuant to Section 4.02(b)(xix) hereof, until the Class X Notional Amount is reduced to zero.
Such records with respect to REMIC III shall include for each Distribution Date, each category of distribution on or with respect to the REMIC III Certificates and the Class A-2F Regular Interest, their applicable Class Principal Balances or Class X Notional Amount, Pass-Through Rates and each category of distribution on or with respect thereto.
With respect to each Distribution Date and each such Class of Certificates, interest shall be calculated based upon the respective Pass-Through Rate set forth, or determined as provided, above and the Current Principal Amount or Class A-[ ] Notional Amount or Class X Notional Amount, as the case may be, of such Class applicable to such Distribution Date.

More Definitions of Class X Notional Amount

Class X Notional Amount. For any date of determination, a notional amount equal to the aggregate of the Lower-Tier Principal Amounts of the Uncertificated Lower-Tier Interests as of the preceding Distribution Date (after giving effect to the distributions of principal on such Distribution Date), and in the case of the first Distribution Date, as of the Closing Date.

Class X Notional Amount. An amount equal to the Certificate Balance of the Class A Certificates.

Class X Notional Amount. As set forth in the Introductory Statement hereto.

Class X Notional Amount. With respect to the Class X Certificates, an amount equal to the aggregate of the Lower-Tier Principal Amounts of the Class LA and Class LB Uncertificated Interests from time to time.

Class X Notional Amount means, with respect to any Distribution Date, the aggregate of the Certificate Balances of the REMIC Regular Certificates as of the close of business on the related Distribution Date.

Class X Notional Amount. For any Distribution Date in or before June 2009, the aggregate Class Principal Balance of the Class A Certificates immediately before such Distribution Date; and for any Distribution Date in or after April 2009, zero. Clean-Up Call Percentage: 5%.

Class X Notional Amount means the notional principal amount by reference to which the amount of interest payable to the Holders of the Class X Certificates is computed and described, which, as of any date of determination, is equal to the aggregate Class Principal Balances of the Principal Balance Certificates on such date. For purposes of the REMIC Provisions, the Class X Notional Amount may be expressed as the sum of the Component Notional Amounts of all Component Interests of the Class X Certificates as of the date of determination. The Class X Notional Amount does not represent a right to receive distributions in respect of amount of principal from the Trust.

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