Notional Balance. (2) The pass-through rate on this REMIC II Regular Interest shall at any time of determination equal the weighted average of the pass-through rates of the REMIC I Regular Interests, where for the first 30 Distribution Dates the interest on Class I-NAS is reduced for purposes of this computation by the lesser of 5.00% and all the interest on such Class.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Back Securities Trust 2003-3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Notional Balance. (2) The pass-through rate on this REMIC II Regular Interest shall at any time of determination equal the weighted average of the pass-through rates of the Class I-NAS and Class I-Q REMIC I Regular Interests, where for the first 30 Distribution Dates the interest rate on Class I-NAS is reduced for purposes of this computation by the lesser of 5.00% and all the interest on such Class, expressed as a per annum rate.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Series 2004 1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-2)
