Common use of Initial Notional Amount Clause in Contracts

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 (1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest. (2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein. (3) The REMIC II Regular Interest II-LTP will not accrue interest.

Initial Notional Amount. The As provided herein, the Class S IO Certificates will accrue entitle the Holders thereof solely to distributions of interest at their Pass-Through Rate accrued on the related 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 Propertiessuch Certificates. REMIC III --------- 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) and REMIC II Regular Interests as a REMIC (as defined herein) for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II." III". The Class R-II Certificates III Certificate will evidence be the sole class of "residual interests" in REMIC II III for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the designation, the REMIC II Remittance Pass-Through Rate, the initial Uncertificated aggregate Certificate Principal Balance and, solely for purposes of satisfying Treasury regulation Section section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each Class of the REMIC II Regular InterestsCertificates (as defined herein). None of the REMIC II Regular Interests will be certificated. Remic Ii Initial Aggregate Certificate Latest Possible Designation Remittance Pass-Through Rate Uncertificated Principal Balance Maturity Date(1) ----------- --------------- ---------------------- ----------------- ----------------- ---------------- II-LT1 Class AV-1 Variable(2) $897,419,642.95 December $ 145,500,000.00 March 25, 2028 II-LT2 2033 Class AV-2 Variable(2) $8,754,420.00 December $ 55,149,000.00 March 25, 2028 II-LT3 2033 Class AV-3 Variable(2) $9,560,266.59 December $ 73,406,000.00 March 25, 2028 II-LTP (32033 Class AV-4 Variable(2) $100.00 December $ 105,016,000.00 March 25, 2028 II2033 Class A-LT2S F 6.25% per annum $ 197,025,121.00 March 25, 2033 Class PO 0.000%(3) $ 7,970,879.00 March 25, 2033 Class IO Variable(2) (4) December March 25, 2028 (12033 Class BV-1 Variable(2) Solely for purposes of Section 1.860G-1(a)(4)(iii$ 18,204,000.00 March 25, 2033 Class BV-2 Variable(2) of the Treasury regulations$ 9,637,000.00 March 25, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC 2033 Class BV-3 Variable(2) $ 7,282,000.00 March 25, 2033 Class BV-4 Variable(2) $ 5,139,000.00 March 25, 2033 Class BV-5 Variable(2) $ 4,070,000.00 March 25, 2033 Class BV-6 Variable(2) $ 4,925,879.00 March 25, 2033 Class BF-1 6.25% per annum $ 4,361,000.00 March 25, 2033 Class BF-2 6.25% per annum $ 3,053,000.00 March 25, 2033 Class BF-3 6.25% per annum $ 1,854,000.00 March 25, 2033 Class BF-4 6.25% per annum $ 1,309,000.00 March 25, 2033 Class BF-5 6.25% per annum $ 872,000.00 March 25, 2033 Class BF-6 6.25% per annum $ 1,636,005.00 March 25, 2033 Class R-I N/A $ 100.00 March 25, 2033 Class R-II Regular Interest. (2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein. (N/A $ 100.00 March 25, 2033 3) The REMIC II Regular Interest II-LTP will not accrue interest.