Examples of Group 3 Loans in a sentence
The Group 3 Loans having Pass-Through Rates greater than or equal to 5.750% per annum.
Likely due to the fact that older students are more likely to be studying part time, results show that the older a student is, the less time they spend in classes and labs, dropping from 15.9 hours per week for those 20 and younger to 11.2 hours for those 30 and older.
The tables have been prepared on the basis of the Pricing Assumptions.It is unlikely that all the Group 2 or Group 3 Loans:‚ will have the interest rates or remaining terms to maturity assumed or‚ will prepay at any constant percentage of the related CPR.In addition, the diverse remaining terms to maturity of the Group 2 and Group 3 Loans could produce slower or faster principal payments than indicated in the tables at the speciÑed constant percentages of CPR.
The Group 3 Loans having Pass-Through Rates greater than or equal to 6.000% per annum.
As of the Issue Date, the weighted average Mortgage Interest Rate Life Floor of the Group 3 Loans is expected to be approximately 2.579%, the minimum Mortgage Interest Rate Life Floor of the Group 3 Loans is expected to be approximately 1.750% and the maximum Mortgage Interest Rate Life Floor is expected to be approximately 4.500%.
For federal income tax purposes, the portion of the Base Trust consisting of (i) the Group 2 and Group 3 Loans and all proceeds thereof and (ii) the Base Trust Account and all amounts held therein or credited thereto will be treated as a grantor trust under Subpart E, Part I of Subchapter J of the Code and not as an association taxable as a corporation.
Group 3 Clean-Up Call Option Date: The date on which the aggregate principal balance of the Group 3 Loans has been reduced to less than the Group 3 Clean-Up Call Percentage of that balance as of the Cut-Off Date.
Xxxxxx Mae, acting in its capacity as Trustee for the Base Trust established hereby, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Lower Tier REMIC established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Group 1 and Group 3 Loans, including all payments of principal and interest thereon received after the month of the Issue Date.
The Final Distribution Date of the Group 2 and Group 3 Classes will be determined so that distributions on the Group 2 and Group 3 Loans will be suÇcient to retire the Group 2 Classes and the Group 3 Class, respectively, on or before the related Final Distribution Date without the necessity of any call on our guaranty.
This would be the case even if the weighted average maturities of the Group 2 and Group 3 Loans are identical to the weighted average maturities speciÑed in the Pricing Assumptions.