Simon Pooled Component definition

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

Related to Simon Pooled Component

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.

  • Class C Component The Component having such designation.

  • Class D Component The Component having such designation.

  • Class B Component The Component having such designation.

  • Principal Component The principal payment plus any interest payments that are either due after the date specified in, or are specified as ineligible for stripping in, the applicable Supplemental Agreement.