Class Factor Sample Clauses
The "Class Factor" clause defines how different classes or categories within a contract are treated for specific purposes, such as calculating payments, allocating resources, or determining rights and obligations. In practice, this clause might specify that certain benefits, rates, or responsibilities vary depending on whether a party or item falls into a particular class, such as employee types, product categories, or service levels. Its core function is to ensure that distinctions between classes are clearly recognized and applied, thereby promoting fairness and clarity in the administration of the contract.
Class Factor. As to any date of determination and any Class of Certificates (other than any Interest Only Class or any No Payment Residual Certificate), a fraction, the numerator of which is (i) the original Class Balance of such Class plus, in the case of each Accrual Class, all interest that has accrued on the Certificates of such Class prior to such date of determination and has been added to the Class Balance thereof, less (ii) the aggregate amount of all Principal Distribution Amounts, if any, allocable thereto prior to such date of determination, and the denominator of which is the original Class Balance of such Class. As to any date of determination and any Interest Only Class, a fraction, the numerator of which is (i) the percentage specified in the related Prospectus Supplement for such Interest Only Class multiplied by (ii) the then current Class Balance of the Class (or, if applicable, the Component Balance of the Component or the principal balance of the Mortgage-Backed Security) from which the Class Balance of such Interest Only Class is derived as specified in the related Prospectus Supplement (or, if more than one percentage and Class (or Component or Mortgage-Backed Security) is so specified, the sum of the products described in this sentence), and the denominator of which is the original Class Balance of such Interest Only Class.
Class Factor. As to any date of determination and the BF or PO Class, a fraction, the numerator of which is (i) the original Class Balance thereof, less the aggregate amount of all Principal Distribution Amounts, if any, allocable thereto prior to such date of determination, and the denominator of which is the original Class Balance of such Class. As to any date of determination and the CS, BI, IB, BS or AS Class, a fraction, the numerator of which is (i) the percentage specified in the REMIC Prospectus Supplement for such Class multiplied by (ii) the then current Class Balance of the BF Class, and the denominator of which is the original Class Balance of such CS, BI, IB, BS or AS Class, as applicable. As to any date of determination and the AF, CF or PT RCR Class, a fraction, the numerator of which is the sum of the then current Class Balances of the Classes of Trust Certificates or specified portions thereof (other than any interest only Classes) included in the same Certificate Group, and the denominator of which is the sum of the original Class Balances of such Classes of Trust Certificates or specified portions thereof. As to the Mega Certificate and any Distribution Date, the numerical equivalent (carried to eight decimal places) of a fraction, the numerator of which is the aggregate principal balance of the Group 4 MBS with respect to that Distribution Date (after giving effect to distributions thereon) and the denominator of which is the aggregate principal balance of the Group 4 MBS as of the Issue Date.