Class LT2 Interest definition

Class LT2 Interest. A regular interest in REMIC I that is held as an asset ------------------ of REMIC II that has a principal balance as of any date equal to 1% of the Class A-1 Principal Balance and bears interest at the Net Group 1 Weighted Average Mortgage Interest Rate.
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Class LT2 Interest. A regular interest in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC that has an initial principal balance equal to the Original Class A-2F Principal Balance and bears interest at the Net Fixed Rate Group Weighted Average Mortgage Interest Rate.
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Class LT2 Interest. A regular interest in REMIC 1 that is held as an asset of REMIC 2 that has an initial principal balance equal to 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date and bears interest at the Net WAC Rate and has such other terms as are described in Section 4.06 hereof.
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Examples of Class LT2 Interest in a sentence

  • The amount of interest accrued and deferred on the Class LT3 Interest under the preceding sentence shall be distributed as principal to the Class LT2 Interest.

  • For purposes of such elections, the Class LT1 Interest and the Class LT2 Interest are designated as regular interests in the Lower Tier REMIC.

  • The remaining 2% of Realized Losses will be allocated to the Class LT3 Interest to the extent that the principal balance of the Class LT3 Interest exceeds 1% of the aggregate Stated Principal Balance of the Mortgage Loans and then equally between the Class LT2 Interest and the Class LT3 Interest.

  • The Class LT3 Accrual Amount will be added to the principal balance of the Class LT3 Interest and will be used to reduce the principal balance of the Class LT2 Interest.

  • The remaining 2% of Realized Losses will be allocated to the Class LT3 Interest to the extent that the principal balance of the Class LT3 Interest exceeds 1% of the Aggregate Scheduled Principal Balance of the Mortgage Loans and then equally between the Class LT2 Interest and the Class LT3 Interest.


More Definitions of Class LT2 Interest

Class LT2 Interest. As defined in the Preliminary Statement.
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Class LT2 Interest. A regular interest in REMIC I that is held as an asset of REMIC II that has a principal balance as of any date equal to 1% of the amount by which (i) the aggregate Pool Principal Balance of Fixed Rate Group 1 Mortgage Loans exceeds (ii) the Group 1 OC Amount and bears interest at the Net Fixed Rate Group 1 Weighted Average Mortgage Interest Rate.
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