Common use of Notional Amount Clause in Contracts

Notional Amount. (6) For each Distribution Date the Certificate Rate for the Class 2AX Certificates will equal a per annum rate equal to the excess, if any, of (a) the Net WAC Rate for Loan Group 2 over (b) the Certificate Rate for the Class 2A1 Certificates. For federal income tax purposes, the Class 2AX Certificates shall represent (i) ownership of a REMIC regular interest in REMIC III (the “Class 2AX Interest”), (ii) ownership of the Class 2AX Certificate Account and (iii) an obligation to make payments pursuant to the contractual rights described in Section 12.01(j) of the Standard Terms. The Class 2AX Interest shall be an interest-only regular interest in REMIC III, shall have a notional amount on each Distribution Date equal to the Notional Amount of the Class 2AX Certificates as of such Distribution Date and shall be entitled to receive interest at a rate equal to the Certificate Rate of the Class 2AX Certificates.

Notional Amount. (63) For each Distribution Date the Certificate Rate for the Class 2AX 1AX Certificates will equal a per annum rate equal to the excess, if any, of (a) the Net WAC Rate for Loan Group 2 1 over (b) the Certificate Rate for the Class 2A1 1A1 Certificates. For federal income tax purposes, the Class 2AX 1AX Certificates shall represent (i) ownership of a REMIC regular interest in REMIC III (the “Class 2AX 1AX Interest”), (ii) ownership of the Class 2AX 1AX Certificate Account and (iii) an obligation to make payments pursuant to the contractual rights described in Section 12.01(j) of the Standard Terms. The Class 2AX 1AX Interest shall be an interest-only regular interest in REMIC III, shall have a notional amount on each Distribution Date equal to the Notional Amount of the Class 2AX 1AX Certificates as of such Distribution Date and shall be entitled to receive interest at a rate equal to the Certificate Rate of the Class 2AX 1AX Certificates.

Notional Amount. (63) For each Distribution Date Date, the Certificate Rate for the Class 2AX 1AX Certificates will equal a per annum rate equal to the excess, if any, of (a) the Net WAC Rate for Loan Group 2 1 over (b) the weighted average Certificate Rate for the Class 2A1 1A1, Class 1A2, Class 1B1, Class 1B2 and Class 1B3 Certificates. For federal income tax purposes, the Class 2AX 1AX Certificates shall represent (i) ownership of a REMIC regular interest in REMIC III (the “Class 2AX 1AX Interest”), (ii) ownership of the Reserve Fund and the Class 2AX 1AX Certificate Account and (iii) an obligation to make payments pursuant to the contractual rights described in Section 12.01(j11.01(j) of the Standard Terms. The Class 2AX 1AX Interest shall be an interest-only regular interest in REMIC III, shall have a notional amount on each Distribution Date equal to the Notional Amount of the Class 2AX 1AX Certificates as of such Distribution Date and shall be entitled to receive interest at a rate equal to the Certificate Rate of the Class 2AX 1AX Certificates.