Notional Balance. With respect to the Corridor Contract and any Distribution Date, the "Notional Amount" specified for the Calculation Period related to such Distribution Date in the Corridor Contract.
Notional Balance. With respect to the Cap Contract and any Payment Date, the "Notional Amount" specified for the Calculation Period related to such Payment Date in the Cap Contract.
Notional Balance. With respect to the Class C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans as of the related Due Date, minus the Certificate Principal Balance of the Class P Certificates. For federal income tax purposes, the Notional Balance of the Class C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests, other than REMIC 2 Regular Interest P, for such Distribution Date.
Examples of Notional Balance in a sentence
The type of Class with which the Class Notional Balance of each Notional Class will be reduced is indicated in parentheses.
The Weighted Average Life shown for each Notional Class has been calculated on the assumption that a reduction in the Class Notional Balance thereof is a distribution of principal.
The amount shown for each Notional Class (indicated by “NTL” under Principal Type) is its original Class Notional Balance and does not represent princi- pal that will be paid.
The amount shown for the Notional Class (indicated by “NTL” under Principal Type) is its original Class Notional Balance and does not represent principal that will be paid.
The amount shown for each Notional Class (indicated by “NTL” under Principal Type) is its original Class Notional Balance and does not represent principal that will be paid.
More Definitions of Notional Balance
Notional Balance. With respect to the Class X Certificates for purposes solely of the face thereof, the aggregate Stated Principal Balance of the Mortgage Loans.
Notional Balance. With respect to each Payment Date as specified in Exhibit B of the Indenture, the lesser of (x) the Outstanding Principal Balance of the Mortgage Loans as of the close of business on the first day of the related Due Period and (y) the amount specified in Exhibit B for the applicable Mortgage Loans and such Payment Date.
Notional Balance. With respect to the Class X Certificates for purposes solely of the face thereof, the aggregate Stated Principal Balance of the Mortgage Loans. With respect to each of the Class X-1, Class P and Class R Certificates for purposes solely of the face thereof, $100. Ocwen: Ocwen Loan Servicing, LLC, a Delaware limited liability company, and its successors in interest.
Notional Balance. With respect to the Class C-R Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans in Loan Group 1 as of the related Due Date, minus the Certificate Principal Balance of the Class P-R Certificates. For federal income tax purposes, the Notional Balance of the Class C-R Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 1 Regular Interests, other than REMIC 3 Regular Interest P-R, for such Distribution Date. With respect to the Class C-M Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans in Loan Group 2 as of the related Due Date, minus the Certificate Principal Balance of the Class P-M Certificates. For federal income tax purposes, the Notional Balance of the Class C-M Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 2 Regular Interests, other than REMIC 3 Regular Interest P-M, for such Distribution Date.
Notional Balance. With respect to the Class 1-C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group 1 Loans as of the related Due Date, minus the Certificate Principal Balance of the Class 1-P Certificates. For federal income tax purposes, the Notional Balance of the Class 1-C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 1 Regular Interests, other than REMIC 3 Regular Interest 1-P, for such Distribution Date. With respect to the Class 2-C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group 2 Loans as of the related Due Date, minus the Certificate Principal Balance of the Class 2-P Certificates. For federal income tax purposes, the Notional Balance of the Class 2-C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 3 Group 2 Regular Interests, other than REMIC 3 Regular Interest 2-P, for such Distribution Date.
Notional Balance. With respect to a Contract and any Distribution Date, the "Notional Amount" specified for the Calculation Period related to such Distribution Date in such Contract.
Notional Balance. With respect to any Distribution Date, the lesser of (x) the Floating Rate Subordinate Certificate Cap Contract Notional Balance set forth for such Distribution Date in the Floating Rate Subordinate Certificate One-Month LIBOR Cap Table attached hereto as Exhibit O-3 and (y) the outstanding Certificate Principal Balance of the Floating Rate Subordinate Certificates.