Class X Notional Amount definition

Class X Notional Amount. With respect to any Distribution Date, the product of (x) the aggregate scheduled principal balance, as of the second preceding Due Date after giving effect to payments scheduled to be received as of such Due Date, whether or not received (and after giving effect to Principal Prepayments, Monthly P&I Advances and the principal portion of Realized Losses applied prior to such Due Date), or with respect to the initial Distribution Date, as of the Cut-Off Date, of the Premium Rate Mortgage Loans and (y) a fraction, the numerator of which is the weighted average of the Stripped Interest Rates for the Premium Rate Mortgage Loans as of such Due Date and the denominator of which is 5.000%.

Class X Notional Amount means, with respect to the Class X Certificates and any date of determination, the aggregate of the outstanding Certificate Balances of the Principal Balance Certificates.

Class X Notional Amount. As of any date of determination, the sum of the then Component Notional Amounts of all the Components.

Examples of Class X Notional Amount in a sentence

• REMIC III The following table sets forth the designation, Pass-Through Rate and Original Class Balance (or in the case of Class X, Notional Amount) for each Class of Certificates comprising the interests in the Trust Fund created hereunder and each Class of REMIC III Certificates comprising the interests in REMIC III.

• The Class X-M Regular Interest shall accrue interest on the Class X Notional Amount.

• For purposes of the REMIC Provisions, the Class X Notional Amount may be described as the Sum of the Component Notional Amounts of the Component Interests at such time.

• This Certificate is issued on September 25, 1998, at an issue price of 6.29566% of the aggregate of the Original Class A-1F Principal Balance and the Original Class A-1A Principal Balance (the "Class X Notional Amount"), including accrued interest, and a stated redemption price at maturity equal to all interest distributions hereon, and is issued with original issue discount ("OID") for federal income tax purposes.

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More Definitions of Class X Notional Amount

Class X Notional Amount. For any date of determination, a notional amount equal to the aggregate of the Lower-Tier Principal Amounts of the Uncertificated Lower-Tier Interests as of the preceding Distribution Date (after giving effect to the distributions of principal and allocation of Collateral Support Deficit on such Distribution Date), and in the case of the first Distribution Date, as of the Closing Date.

Class X Notional Amount. With respect to the Class X Certificates and any date of determination, the sum of the then Component Notional Amounts of all of the Class X Components.

Class X Notional Amount. As set forth in the Introductory Statement hereto.

Class X Notional Amount. With respect to the Class X Certificates, an amount equal to the aggregate of the Lower-Tier Principal Amounts of the Class LA and Class LB Uncertificated Interests from time to time.

Class X Notional Amount means, with respect to any Distribution Date, the aggregate of the Certificate Balances of the REMIC Regular Certificates as of the close of business on the related Distribution Date.

Class X Notional Amount means the notional principal amount by reference to which the amount of interest payable to the Holders of the Class X Certificates is computed and described, which, as of any date of determination, is equal to the aggregate Class Principal Balances of the Principal Balance Certificates on such date. For purposes of the REMIC Provisions, the Class X Notional Amount may be expressed as the sum of the Component Notional Amounts of all Component Interests of the Class X Certificates as of the date of determination. The Class X Notional Amount does not represent a right to receive distributions in respect of amount of principal from the Trust.

Class X Notional Amount. An amount equal to the Certificate Balance of the Class A Certificates.