NAS Certificates definition

NAS Certificates. As specified in the Preliminary Statement.

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in May 2011; 30% of the applicable NAS Percentage thereafter through the Distribution Date in May 2012; 40% of the applicable NAS Percentage thereafter through the Distribution Date in May 2013; 60% of the applicable NAS Percentage thereafter through the Distribution Date in May 2014; 80% of the applicable NAS Percentage thereafter through the Distribution Date in May 2015; and 100% of the applicable NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in May 2011, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage obtained by dividing (1) the Class Certificate Balances of the NAS Certificates immediately preceding such Distribution Date by (2) the Pool Principal Balance (excluding the applicable PO Percentage of the principal balances of each Discount Mortgage Loan) for such Distribution Date.

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in March 2011; 30% of the applicable NAS Percentage thereafter through the Distribution Date in March 2012; 40% of the applicable NAS Percentage thereafter through the Distribution Date in March 2013; 60% of the applicable NAS Percentage thereafter through the Distribution Date in March 2014; 80% of the applicable NAS Percentage thereafter through the Distribution Date in March 2015; and 100% of the applicable NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in March 2011, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage (carried to six places rounded up) obtained by dividing (1) the aggregate Class Certificate Balance of the NAS Certificates immediately preceding such Distribution Date by (2) the aggregate Class Certificate Balance of all the Classes of Senior Certificates in Pool I (other than the Class I-A-6 and Class I-A-PO Certificates) immediately preceding such Distribution Date.

Examples of NAS Certificates in a sentence

• For any Distribution Date, the lesser of (x) 100% and (y) the percentage (carried to six places rounded up) obtained by dividing (1) the aggregate Class Certificate Balances of the NAS Certificates immediately preceding such Distribution Date by (2) the aggregate Pool Principal Balance of the Mortgage Loans in Pool I for such Distribution Date.

• Class A-6 NAS Certificates: The Class A-6 NAS class pays according to the following schedule (of its pro-rata share): June 2000 - May 2003: 0% June 2006 - May 2007: 100% June 2003 - May 2005: 45% June 2007 and thereafter: 300% June 2005 - May 2006: 80% Optional Clean-up Call: When the principal balance of the mortgage loans (aggregate of Fixed Rate Group and ARM Group) is less than or equal to 10% of the aggregate original certificate principal balance of the Class A Certificates.

• For any Distribution Date, the lesser of (x) 100% and (y) the percentage (carried to six places rounded up) obtained by dividing (1) the aggregate Class Certificate Balances of the NAS Certificates immediately preceding such Distribution Date by (2) the Pool Principal Balance of Pool I (excluding the applicable PO Percentage of the principal balance of each Discount Mortgage Loan included therein) for such Distribution Date.

• CLASS A-6 NAS CERTIFICATES: The Class A-6 NAS Certificates pay according to the following schedule (of its pro-rata share): September 2000 - August 2003: 0% September 2003 - August 2005: 45% September 2005 - August 2006: 80% September 2006 - August 2007: 100% September 2007 and thereafter: 300% (1) Subject to change.

• Class A-6 NAS Certificates: The Class A-6 NAS class pays according to the following schedule (of its pro-rata share): June 2000 - May 2003: 0% June 2006 - May 2007: 100% June 2003 - May 2005: 45% June 2007 and thereafter: 300% June 2005 - May 2006: 80% Optional Clean-up Call: When the principal balance of the mortgage loans (aggregate of Fixed Rate Group and ARM Group) is less than or equal to 10% of the aggregate original certificate principal balance of the Class A certificates.

More Definitions of NAS Certificates

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in May 2012; 30% of the applicable NAS Percentage thereafter through the Distribution Date in May 2013; 40% of the applicable NAS Percentage thereafter through the Distribution Date in May 2014; 60% of the applicable NAS Percentage thereafter through the Distribution Date in May 2015; 80% of the applicable NAS Percentage thereafter through the Distribution Date in May 2016; and 100% of the applicable NAS Percentage thereafter.

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in December 2011; 30% of the applicable NAS Percentage thereafter through the Distribution Date in December 2012; 40% of the applicable NAS Percentage thereafter through the Distribution Date in December 2013; 60% of the applicable NAS Percentage thereafter through the Distribution Date in December 2014; 80% of the applicable NAS Percentage thereafter through the Distribution Date in December 2015; and 100% of the applicable NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in December 2011, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage (carried to six places rounded up) obtained by dividing (1) the aggregate Class Certificate Balance of the NAS Certificates immediately preceding such Distribution Date by (2) the Pool Principal Balance of Pool I (other than the Notional Amount Certificates and the Class I-A-PO Certificates).

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in June 2012; 30% of the NAS Percentage thereafter through the Distribution Date in June 2013; 40% of the NAS Percentage thereafter through the Distribution Date in June 2014; 60% of the NAS Percentage thereafter through the Distribution Date in June 2015; 80% of the NAS Percentage thereafter through the Distribution Date in June 2016; and 100% of the NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in June 2012, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage obtained by dividing (1) the aggregate Class Certificate Balance of the Class I-A-4 and Class I-A-14 Certificates immediately preceding such Distribution Date by (2) the Pool Principal Balance of Pool I (excluding the applicable PO Percentage of the Principal Balance of each Discount Mortgage Loan included therein) for such Distribution Date.

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in February 2011; 30% of the applicable NAS Percentage thereafter through the Distribution Date in February 2012; 40% of the applicable NAS Percentage thereafter through the Distribution Date in February 2013; 60% of the applicable NAS Percentage thereafter through the Distribution Date in February 2014; 80% of the applicable NAS Percentage thereafter through the Distribution Date in February 2015; and 100% of the applicable NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in February 2011, and for any Distribution Date thereafter, the percentage obtained by dividing (1) the sum of (a) the aggregate Class Certificate Balance of the NAS Certificates immediately preceding such Distribution Date and (b) an amount equal to approximately 5.00% of the aggregate initial Class Certificate Balance of the NAS Certificates, by (2) the aggregate Class Certificate Balance of the Senior Certificates related to Pool I (other than the Class I-A-PO Certificates and the Notional Amount Certificates).

NAS Certificates. The Class A-6 Certificates and the Class A-7 Certificates.

NAS Certificates. As specified in the Preliminary Statement. NAS Distribution Percentage: 0% through the Distribution Date in March 2012; 30% of the applicable NAS Percentage thereafter through the Distribution Date in March 2013; 40% of the applicable NAS Percentage thereafter through the Distribution Date in March 2014; 60% of the applicable NAS Percentage thereafter through the Distribution Date in March 2015; 80% of the applicable NAS Percentage thereafter through the Distribution Date in March 2016; and 100% of the applicable NAS Percentage thereafter. NAS Percentage: 0% through the Distribution Date in March 2012, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage obtained by dividing (1) the aggregate Class Certificate Balance of the NAS Certificates immediately preceding such Distribution Date by (2) the aggregate Class Certificate Balance of the Class I-A-3, Class I-A-4, Class I-A-5, Class I-A-6 and Class I-A-7 Certificates immediately preceding such Distribution Date.

NAS Certificates. As specified in the Preliminary Statement. NAS I Distribution Percentage: 0% through the Distribution Date in July 2011; 30% of the applicable NAS I Percentage thereafter through the Distribution Date in July 2012; 40% of the applicable NAS I Percentage thereafter through the Distribution Date in July 2013; 60% of the applicable NAS I Percentage thereafter through the Distribution Date in July 2014; 80% of the applicable NAS I Percentage thereafter through the Distribution Date in July 2015; and 100% of the applicable NAS I Percentage thereafter. NAS I Percentage: 0% through the Distribution Date in July 2011, and for any Distribution Date thereafter, the lesser of (x) 100% and (y) the percentage (carried to six places rounded up) obtained by dividing (1) the aggregate Class Certificate Balances of the Class A-2 and Class A-5 Certificates immediately preceding such Distribution Date by (2) the Pool Principal Balance of the Mortgage Loans in the Mortgage Pool (excluding the PO Percentage of each Discount Mortgage Loan in the Mortgage Pool) for such Distribution Date.