PO Class definition

PO Class. A class that has a principal balance and receives principal distributions, but does not have a certificate rate and does not receive interest distributions. PO loan: A mortgage loan that has a principal balance, but on which no interest is paid by the mortgagor. PO strip: The ratio-stripped PO loans for all the discount loans. pool: A pool of mortgage loans. pool distribution amount: For a distribution day and a mortgage loan pool, the funds eligible for distribution to the related classes on that distribution day, being all amounts deposited into the certificate account relating to that pool, but excluding the following:
Sample 1Sample 2Sample 3
PO Class. A Class of Stripped Giant Certificates which is entitled to payment of all or a portion of the principal payments received on the Assets and no interest.
Sample 1Sample 2Sample 3
PO Class. The Class PO-A-1 Component, Class PO-A-2 Component, Class PO-B Certificates, Class PO-C Certificates, Class PO-D-1 Component and Class PO-D-2 Component, as applicable.
Sample 1Sample 2

Examples of PO Class in a sentence

  • The PO Class will be a principal only class and will not bear interest.

  • However, it is an issue that we believe should be borne in mind when considering building licensing changes in individual states and territories.

  • We will make principal payments with respect to the Senior and Mezzanine Classes as specified below.PO Senior Principal Distribution Amount On each Distribution Date, we will pay the PO Senior Principal Distribution Amount as principal of the PO Class, until its principal balance is reduced to zero.

  • The PO Class will be a principal interest accrual period at an annual rate of 0.52838%.

  • Senior PercentageÌFor any Distribution Date, the lesser of (i) 100%, or (ii) the percentage equivalent of a fraction, the numerator of which is the aggregate principal balance of the Senior Classes (other than the PO Class) immediately before that Distribution Date, and the denominator of which is the sum of the applicable Non-PO Percent- ages of the Stated Principal Balance of each Mortgage Loan as of the Due Date in the month of that Distribution Date.

  • The headcount poverty ratio (P0) is defined as the proportion of people below the poverty line.

  • The PO Class will be a principal only class and will not bear interest.The dealer will offer the certificates from time to time in negotiated transactions at varying prices.

  • A secretary, who is teaching staff and holds an academic degree, can help the work of DDC.

  • We will treat the amount of any such Realized Loss (other than an Excess Loss) that is allocated to the PO Class on or prior to the Mezzanine Termination Date as a PO Deferred Amount.

  • On each Distribution Date, we will allocate the applicable PO Percentage of any Realized Loss on a Discount Mortgage Loan (including any Excess Loss) to the PO Class, until its principal balance is reduced to zero.


More Definitions of PO Class

PO Class. A Class of Stripped Giant CertiÑcates which is entitled to payment of all or a portion of the principal payments received on the Assets and no interest.
Sample 1Sample 2Sample 3
PO Class. As defined in the Senior Prospectus. "PO Class Certificates": Certificates of the PO Class.
Sample 1
PO Class. A Class of Class PO Certificates or a Class PO-A Component, as applicable.
Sample 1
PO Class. The Class PO-A and Class PO-B Certificates, as applicable.
Sample 1
PO Class. A class that has a principal balance and receives principal distributions, but does not have a certificate rate and does not receive interest distributions.
Sample 1

Related to PO Class

  • Class when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

  • Initial Class B Note Balance means $163,150,000.

  • Initial Class D Note Balance means $13,564,000.

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Initial Class C Note Balance means $152,941,000.

  • Initial Class A-2 Note Balance means $235,000,000.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • Subclass With respect to the Class A-V Certificates, any Subclass thereof issued pursuant to Section 5.01(c). Any such Subclass will represent the Uncertificated Class A-V REMIC Regular Interest or Interests specified by the initial Holder of the Class A-V Certificates pursuant to Section 5.01(c).

  • Initial Class Certificate Balance As to each Class of Certificates, the Class Certificate Balance set forth in the Preliminary Statement.

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Original Class B Principal Balance The sum of the Original Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and Original Class B-6 Principal Balance, as set forth in Section 11.14.