Class X Rate definition

Class X Rate. An interest rate per annum equal to 9.0%.
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Class X Rate. With respect to any Distribution Date for the Class X Certificates, a per annum rate equal to the excess, if any, of (a) the weighted average of the Net Rates for the Mortgage Loans in Loan Group 1 and Loan Group 2 as of the first day of the month preceding the month of such Distribution Date over (b) the weighted average of the Certificate Rates for the Class 1A1, Class 2A1, Class 1B1, Class 1B2, Class 1B3, Class 1B4, Class 1B5 and Class 1B6 Certificates, weighted on the basis of their respective Class Principal Balances immediately preceding such Distribution Date, provided that in the case of the Short Reset Group Senior Certificates and, with respect to the first Distribution Date only, the Short Reset Group Subordinate Certificates, such Certificate Rates shall be multiplied by a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 30.
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Class X Rate means, for each Distribution Date, a rate per annum determined by dividing (x) the sum of (i) the product of (a) the outstanding principal amount of 7.375% Underlying Securities held by the Trust and (b) 2.2125% and (ii) the product of (a) the outstanding principal amount of 7.25% Underlying Securities held by the Trust and (b) 2.2125% by (y) the aggregate outstanding principal amount of 7.375% Underlying Securities and 7.25% Underlying Securities held by the Trust.
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Related to Class X Rate

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • Class X-A Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-A Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class X-B Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-B Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.