Initial Notional Amount. This Certificate will be issued without a Certificate Principal Amount or an interest rate. EXHIBIT T APPLICABLE FRACTIONS TABLE Mortgage Loans with Net Mortgage Rates Less than 6.00%. Principal received or advanced on each Discount Mortgage Loan will be allocated between Collateral Group PO and Collateral Group 1A on the basis of the Applicable Fractions of the Discount Mortgage Loans. The Applicable Fraction for the portion of each such Discount Mortgage Loan allocated to Collateral Group PO, is (6.00% minus Net Mortgage Rate) /6.00%, and the Applicable Fraction for the portion of each such Discount Mortgage Loan allocated to Collateral Group 1A, is Net Mortgage Rate /6.00%. Mortgage Loans with Net Mortgage Rates Greater than or Equal to 6.00% and Less than or Equal to 11.00%. Principal received or advanced on each Mortgage Loan having a Net Mortgage Rate greater than or equal to 6.00% but less than or equal to 11.00% will be allocated between Collateral Group 1A and Collateral Group 1B on the basis of the Applicable Fractions of the Mortgage Loans. The Applicable Fraction for the portion of each such Mortgage Loan allocated to Collateral Group 1A, is (11.00% minus Net Mortgage Rate) /5.00%, and the Applicable Fraction for the portion of each such Mortgage Loan allocated to Collateral Group 1B, is 1 minus ((11.00% minus Net Mortgage Rate) / 5.00%). EXHIBIT U FORM OF MODIFIED LOAN REPORT Field Name Start Width Format Loan Number Modification Effective Date UPB Prior to Modification UPB Post Modification Interest Rate Prior to Modification Modified Interest Rate Scheduled P&I Payment Prior to Modification Modified Scheduled P&I Payment Maturity Date Prior to Modification Modified Maturity Date Principal Forgiven Interest Forgiven EXHIBIT V MONTHLY ELECTRONIC DATA TRANSMISSION EXHIBIT W FORM OF VALUATION AND REDEMPTION AGREEMENT FORM OF VALUATION AND REDEMPTION AGREEMENT THIS VALUATION AND REDEMPTION AGREEMENT dated as of [[●]], 200_ (this “Agreement”) is by and among Xxxxxx Brothers Holdings Inc., (“LBH”), as valuation agent (the “Valuation Agent”), [[●]], as share issuer (the “Share Issuer”) and Xxxxx Fargo Bank, N.A., not in its individual capacity, but solely as Trustee under the Trust Agreement (as defined below). Capitalized terms used but not defined herein have the meanings ascribed to them in the trust agreement dated as of February 1, 2008, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer an...
Initial Notional Amount. This Class of Certificates is an interest-only Class; it will not be entitled to payments of principal and will accrue interest on its Class Notional Amount.
Initial Notional Amount. In addition to the principal described above, the Class R-1 and Class R-2 Certificates shall each be entitled to all distributions from their respective REMICs, if any, that are not otherwise provided for herein. The holders of the Class B-IO Certificates shall be treated for federal income tax purposes as entering into a notional principal contract with the Certificateholders entitled to receive Basis Risk Carry Forward Shortfall Amounts. For all federal tax purposes, Basis Risk Carry Forward Shortfall Amounts will be treated as transferred by a REMIC to the Class B-IO Certificates, which then transfer such amounts to the Classes entitled thereto pursuant to the notional principal contract. For federal tax return and information reporting, such notional principal contract shall be assigned a value of $100.
Initial Notional Amount. The Class S Certificates will accrue interest at their Pass-Through Rate on the Notional Amount of the Class S Certificates outstanding from time to time which shall equal the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests (other than the Class S Certificates) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II." The Class R-II Certificates will evidence the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the REMIC II Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC II Regular Interests. None of the REMIC II Regular Interests will be certificated. Remic Ii Initial Latest Possible Designation Remittance Rate Uncertificated Balance Maturity Date(1) ----------- --------------- ---------------------- ---------------- II-LT1 Variable(2) $897,419,642.95 December 25, 2028 II-LT2 Variable(2) $8,754,420.00 December 25, 2028 II-LT3 Variable(2) $9,560,266.59 December 25, 2028 II-LTP (3) $100.00 December 25, 2028 II-LT2S Variable(2) (4) December 25, 2028
Initial Notional Amount. The Class 1-A6, Class 1-A7, Class 1-A8, Class 2-A2, Class 2-A3, Class 2-A5, Class 2-A12 and Class 3-A2 Certificates are interest-only certificates; they will not be entitled to payments of principal and will accrue interest on their Notional Amounts.
Initial Notional Amount. The Class 2-A2, Class 3-A2 and Class 4A-2 Certificates are interest-only certificates; they will not be entitled to payments of principal and will accrue interest on their Notional Amounts.
Initial Notional Amount. As provided herein, the Class A-2 Certificates and the Class IO Certificates entitle the Holders thereof solely to distributions of interest accrued on the related Notional Amount of such Certificates.
Initial Notional Amount. As provided herein, the Class IO Certificates entitled the Holders thereof solely to distributions of interest accrued on the related Notional Amount of such Certificates. (4) The Class PO Certificates are not entitled to distributions of interest.
Initial Notional Amount. As provided herein, the Class S Certificates and the Class IO Certificates entitle the Holders thereof solely to distributions of interest accrued on the related Notional Amount of such Certificates. For federal income tax purposes, the Class IO-1 and Class IO-2 Certificates will not have Notional Amounts, but will be entitled to 100% of amounts distributed on REMIC I Regular Interests LT-IO1 and LT-IO2, respectively. As of the Cut-off Date, the Original Group I Mortgage Loans had an aggregate Scheduled Principal Balance equal to $146,754,369.87. As of the Cut-off Date, the Original Group II Mortgage Loans had an aggregate Scheduled Principal Balance equal to $162,783,126.58. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer and the Trustee agree as follows:
Initial Notional Amount. 32 Initial Subordinate Class Percentage...............................................32 Insurance Proceeds.................................................................32
