Certificate Notional Amount definition

Certificate Notional Amount. With respect to any Interest Only Certificate, as of any date of determination, the then notional principal amount on which such Certificate accrues interest, equal to the product of (a) the then Certificate Factor for the Class of Interest Only Certificates to which such Certificate belongs, multiplied by (b) the amount specified on the face of such Certificate as the initial Certificate Notional Amount thereof.

Certificate Notional Amount. With respect to any Class X Certificate, the hypothetical or notional principal amount on which such Certificate accrues interest, which, as of any date of determination, is equal to the product of (a) the Percentage Interest evidenced by such Certificate, multiplied by (b) the then Class Notional Amount of the Class X Certificates.

Certificate Notional Amount. With respect to the Class CE Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans as of the beginning of the related Due Period. The initial Certificate Notional Amount of the Class CE Certificates shall be $596,273,395.14. For federal income tax purposes, the Certificate Notional Amount of the Class CE Certificates for any Distribution Date shall be an amount equal to the Uncertificated Notional Amount for the Class CE Interest for such Distribution Date.

Examples of Certificate Notional Amount in a sentence

• Denomination: With respect to each Certificate, the amount set forth on the face thereof as the “Initial Certificate Principal Balance or Initial Certificate Notional Amount of this Certificate”.

• With respect to Series [_] of preREO Trust, the Administrator hereby confirms the allocation to such Series of Loans with an unpaid principal balance of $[ ] occurred on , 20 (the “Transfer Date”), and hereby instructs the Registrar to increase the Series Certificate Notional Amount of the related Series Certificate by such amount.

• The Series Certificate Notional Amount of the Series [ ] Certificate may not exceed $[ ].

• On the Series Creation Date for each Series, upon prior written direction from the Administrator, the Trustee shall execute, and the Registrar shall authenticate and deliver, the related Series Certificates in the form set forth in Exhibit C hereto, each in the name of the related Certificateholder and in the notional amount of the related Series Certificate Notional Amount, as determined and directed in writing by the Administrator.

• Each Series Certificate shall be issued to the Certificateholders identified in the Series Supplement by the Trust in an aggregate notional amount equal to the related Series Certificate Notional Amount as determined by the Administrator and a maximum Series Certificate Notional Amount as set forth in the related Series Supplement upon the written direction of the Administrator.

More Definitions of Certificate Notional Amount

Certificate Notional Amount. With respect to any Class XC or Class XP Certificate, as of any date of determination, the then notional amount of such Certificate equal to the product of (a) the Percentage Interest evidenced by such Certificate, multiplied by (b) the then Class XC or Class XP Notional Amount, as applicable.

Certificate Notional Amount. 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 beginning of the related Due Period. The initial Certificate Notional Amount of the Class C Certificates shall be $301,443,943.04. For federal income tax purposes, the Certificate Notional Amount for any Distribution Date shall be an amount equal to the Uncertificated Notional Amount for the Class C Interest for such Distribution Date

Certificate Notional Amount. With respect to any Class IO Certificate, as of any date of determination, the then notional amount of such Certificate equal to the product of (a) the Percentage Interest evidenced by such Certificate, multiplied by (b) the then Class Notional Amount of the Class IO Certificates.

Certificate Notional Amount means, with respect to any Class X Certificate, as of any date of determination, the then notional amount of such Certificate equal to the product of (a) the then Certificate Factor for the Class X Certificates, multiplied by (b) the amount specified on the face of such Certificate as the initial Certificate Notional Amount thereof.

Certificate Notional Amount. With respect to the Class I-CE Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group I Mortgage Loans as of the beginning of the related Due Period. The initial Certificate Notional Amount of the Class I-CE Certificates shall be $186,762,941.81. For federal income tax purposes, the Certificate Notional Amount for the Class I-CE Certificates for any Distribution Date shall be an amount equal to the Uncertificated Notional Amount for the Class I-CE Interest for such Distribution Date. With respect to the Class II-CE Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Group II Mortgage Loans as of the beginning of the related Due Period. The initial Certificate Notional Amount of the Class II-CE Certificates shall be $414,356,192.66. For federal income tax purposes, the Certificate Notional Amount for the Class II-CE Certificates for any Distribution Date shall be an amount equal to the Uncertificated Notional Amount for the Class II-CE Interest for such Distribution Date.

Certificate Notional Amount. With respect to each Certificate of Class X-1 and Class X-2 and any date of determination, the product of (i) the Class Certificate Notional Amount of such Class and (ii) the applicable Percentage Interest of such Certificate.

Certificate Notional Amount. With respect to any Class A-IO Certificates at any date, the product of the Percentage Interest of such Certificate and the Notional Amount of the Class A-IO Certificates.