Simon Pooled Component definition

Simon Pooled Component. An undivided senior ownership interest in the Loan REMIC represented by the Loan REMIC Pooled Regular Interest.
View Source
Simon Pooled Component. A senior interest in the Simon Loan REMIC represented by the Simon Loan REMIC Pooled Regular Interest.
View Source

Examples of Simon Pooled Component in a sentence

  • Simon Collateral Support Deficits and additional Trust Fund expenses allocable to the Simon Mortgage Loan will, after all the Classes of Class S Certificates have been reduced to zero, reduce the Uncertificated Principal Balance of the Loan REMIC Pooled Regular Interest corresponding to the Simon Pooled Component.

  • On each Distribution Date, the Certificate Balances of the Class SP Certificates and the Simon Pooled Balance of the Simon Pooled Component will be reduced without distribution as a write-off to the extent of any Simon Collateral Support Deficit, if any, allocable to such Certificates or Simon Pooled Component with respect to such Distribution Date.

  • With respect to an Appraisal Reduction on the Simon Mortgage Loan, such Appraisal Reduction will be applied, prior to any application of such Appraisal Reduction to the Simon Pooled Component, first to the Class S-3 Certificates, second to the Class S-2 Certificates, and third to the Class S-1 Certificates, and then to the Regular Certificates in respect of the Simon Pooled Component in the priority set forth in the first sentence of this Section 4.05.

  • On each Distribution Date, the Certificate Balances of the Class S Certificates and the Simon Pooled Balance of the Simon Pooled Component will be reduced without distribution as a write-off to the extent of any Simon Collateral Support Deficit, if any, allocable to such Certificates or Simon Pooled Component with respect to such Distribution Date.