Pool Strip Rate. With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum.
Pool Strip Rate of any Qualified Substitute Mortgage Loan as calculated pursuant to the definition of "Pool Strip Rate" is greater than the Pool Strip Rate of the related Deleted Mortgage Loan
Pool Strip Rate. With respect to any Distribution Date and any Non-Discount Mortgage Loan, the Net Mortgage Rate thereon minus 9.00%, but not less than 0.00%.
Examples of Pool Strip Rate in a sentence
With respect to the Class IO Certificates and any Distribution Date, a rate equal to the weighted average of the Pool Strip Rate of each Non-Discount Mortgage Loan weighted on the basis of the respective Stated Principal Balances of such Mortgage Loans as of the day immediately preceding such Distribution Date (or, with respect to the initial Distribution Date, at the close of business on the Cut-off Date).
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Pool Strip Rate: With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum.
More Definitions of Pool Strip Rate
Pool Strip Rate. With respect to each Group I Loan, a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan minus 5.25%, but not less than 0.00%, per annum. With respect to each Group II Loan, a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan minus 4.50%, but not less than 0.00%, per annum.
Pool Strip Rate. With respect to each Mortgage Loan, a fixed percentage equal to the greater of (i) the related Gross Margin minus 4.300% and (ii) 0.00%.
Pool Strip Rate. The pool strip rate on any Group I Loan is equal to its Net Mortgage Rate minus 6.00%, but not less than 0.00%. The pool strip rate on any Group II loan is equal to its Net Mortgage Rate minus 5.50%, but not less than 0.00%.
Pool Strip Rate. With respect to each Mortgage Loan, the rate per annum equal to the Net Mortgage Rate thereon minus ____% per annum.
Pool Strip Rate. With respect to the Class I S Certificates and the Mortgage Loans in Loan Group I, a per annum rate equal to the weighted average of the related Net Mortgage Interest Rates, weighted on the basis of the related Principal Balances of such Mortgage Loans at the beginning of the related Due Period, minus the Group I Class A PassThrough Rate. With respect to the Class II S Certificates and the Mortgage Loans in Loan Group II, a per annum rate equal to the related Net Mortgage Interest Rate minus 7.30%. The Pool Strip Rates are also designated on the related Mortgage Loan Schedule as the "Class I S Strip" or the "Class II S Strip" as applicable for such Mortgage Loan and the related Class S Certificates.
Pool Strip Rate. With respect to any Non-Discount Mortgage Loan, the excess, if any, of the Net Mortgage Rate, over 6.50%. With respect to the Pre-Funded Amount, the excess of the initial weighted average Net Mortgage Rate of the Initial Mortgage Loans over 6.50% per annum.
Pool Strip Rate. With respect to each Group I Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Group I Loan over (b) 5.50%. With respect to each Group II Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Group II Loan over (b) 4.75%.