Class XP Strip Rate definition
Class XP Strip Rate. With respect to any Class XP Component for any Distribution Date, a rate per annum equal to (1) for any Distribution Date occurring on or before the Class XP Termination Date for such Class XP Component, the excess, if any, of (x) the lesser of (i) the Weighted Average Net Mortgage Pass-Through Rate for such Distribution Date and (ii) the Class XP Reference Rate for such Distribution Date, over (y) the Pass-Through Rate in effect for such Distribution Date for the Corresponding Certificates (provided that in no event shall any Class XP Strip Rate be less than zero), and (2) for any Distribution Date occurring after the Class XP Termination Date for such Class XP Component, 0% per annum.
Class XP Strip Rate means, with respect to each of the Class XP Components for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the related Class XP Component Crossover Date, (x) the lesser of (I) the Weighted Average Net Mortgage Rate for such Distribution Date and (II) the Class XP Reference Rate for such Distribution Date minus (y) the Pass-Through Rate for the Corresponding Certificates (provided that in no event shall any Class XP Strip Rate be less than zero) and (ii) for any Distribution Date occurring after the related Class XP Component Crossover Date, 0% per annum.
Class XP Strip Rate. With respect to any Class XP Component, for any Distribution Date, an annual rate equal to either: (i) if such Distribution Date is, or occurs prior to, the Class XP Termination Date for such Class XP Component, the excess, if any, of (A) the lesser of (1) the REMIC I Remittance Rate with respect to such Class XP Component's Corresponding REMIC I Regular Interest for such Distribution Date, and (2) the Reference Rate for such Distribution Date, over (B) the Adjusted REMIC I Remittance Rate with respect to such Class XP Component's Corresponding REMIC I Regular Interest for such Distribution Date; or (ii) if such Distribution Date is subsequent to the Class XP Termination Date for such Class XP Component, 0% per annum.
More Definitions of Class XP Strip Rate
Class XP Strip Rate. With respect to each of the Class XP Components for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the related Class XP Component Crossover Date, (w) with respect to Component XD, the Class XP (Class D) Fixed Strip Rate, (x) with respect to Component XE, the Class XP (Class E) Fixed Strip Rate, and (y) with respect to each other Class XP Component, the lesser of (I) the Weighted Average Adjusted Net Mortgage Rate for such Distribution Date and (II) the Class XP Reference Rate for such Distribution Date minus (z) the Pass-Through Rate for the Corresponding Certificates (provided that in no event shall any Class XP Strip Rate be less than zero), and (ii) for any Distribution Date occurring after the related Class XP Component Crossover Date, 0% per annum.
Class XP Strip Rate. With respect to the Class XP Components for any Distribution Date, the product of a rate per annum equal to (i) for any Distribution Date prior to and including the Class XP Termination Date, the excess, if any, of (A) the lesser of (1) the Class XP Reference Rate for such Distribution Date and (2) the Weighted Average Adjusted Net Mortgage Rate for such Distribution Date, over (B) the Pass-Through Rate in effect for such Distribution Date for the Corresponding Certificates and (ii) for any Distribution Date occurring after the Class XP Termination Date, 0% per annum.
Class XP Strip Rate. With respect to each of the Class XP Components for any Distribution Date, a rate per annum equal to (i) for any Distribution Date occurring on or before the related Class XP Component Crossover Date, (x) with respect to Component XG, the Class XP (Class G) Fixed Strip Rate, and (y) with respect to each other Class XP Component, the lesser of (I) the Weighted Average Adjusted Net Mortgage Rate for such Distribution Date and (II) the Class XP Reference Rate for such Distribution Date minus (z) the Pass-Through Rate for the Corresponding Certificates (provided that in no event shall any Class XP Strip Rate be less than zero), and (ii) for any Distribution Date occurring after the related Class XP Component Crossover Date, 0% per annum.