Class Factor definition

Class Factor. As to any date of determination and any Combinable Class, the then current Class Factor for the Related REMIC Class. As to any date of determination and any RCR Class, a fraction the numerator of which is the sum of the then current Class Balances of

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Class Factor. As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Residual Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates 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 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 the percentage of the balance specified for such purpose under “Reference Sheet–Notional Classes” in the Prospectus Supplement (or, if applicable, the sum of the applicable percentages of the balances so specified) and the denominator of which is the original Class Balance thereof. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.

Class Factor. As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Residual Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates 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 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 for such Interest Only Class multiplied by (ii) the then current Class Balance of the Class specified for such Interest Only Class, in each case, under “Reference Sheet– Notional Classes” in the Prospectus Supplement (or, if more than one percentage and Class 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.

Examples of Class Factor in a sentence

• Notice of any termination shall be given promptly by ▇▇▇▇▇▇ ▇▇▇ to Holders of Regular Certificates by publication of a Class Factor equal to zero for each outstanding Class of Certificates not later than the eighth Business Day of the month of the related Distribution Date.

• As soon as practicable following the eleventh calendar day of each month, ▇▇▇▇▇▇ ▇▇▇ will make available the Class Factor (carried to eight decimal places) for each Class of Certificates after giving effect to the distribution on the following Distribution Date.

• Notice of any termination shall be given promptly by ▇▇▇▇▇▇ Mae to Holders of Regular Certificates by publication of a Class Factor equal to zero for each outstanding Class of Certificates not later than the eighth Business Day of the month of the related Distribution Date.

• As soon as practicable following the eleventh calendar day of each month, ▇▇▇▇▇▇ Mae will make available the Class Factor (carried to eight decimal places) for each Class of Certificates after giving effect to the distribution on the following Distribution Date.

• As soon as practicable following the eleventh calendar day of each month, ▇▇▇▇▇▇ Mae will make available the Class Factor (carried to eight decimal places) for each Class of Certificates after giving effect to the distribution of the Principal Distribution Amount during the current calendar month and any addition to the Class Balance of any Accrual Class.

More Definitions of Class Factor

Class Factor. With respect to each Class and any date of determination, the then applicable Class Principal Balance of such Class divided by the Original Class Principal Balance thereof.

Class Factor. As to any date of determination and any Class of Certificates, (other than the Interest Only Certificates and the Residual Certificates) a fraction the numerator of which is

Class Factor. As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Residual Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates of such Class, 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 the percentage of the balance specified for such purpose under “Reference Sheet–Notional Classes” in the Prospectus (or, if applicable, the sum of the applicable percentages of the balances so specified) and the denominator of which is the original Class Balance thereof. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.

Class Factor. As to any date of determination and any Class of Certificates (other than the Residual Certificate), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates of such Class plus, in the case of the Accrual Class, all interest that has accrued on the Certificates of that Class prior to such date of determination and 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.

Class Factor means for any month with respect to the Class A Certificates, a truncated eight-digit decimal that, when multiplied by the Initial Certificate Balance of such Class, will equal its Current Certificate Balance. The Class Factor for any month reflects the payments of principal to be made on the Payment Date in the same month.

Class Factor means the factors for each User Classification set out in Table 1.

Class Factor. As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Class 5-R and Class 5-RL Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates of such Class less