Class M Certificate definition

Class M Certificate. Any one of the Certificates designated as a Class M-1 Certificate, Class M-2 Certificate or Class M-3 Certificate.

Class M Certificate means any of the Certificates with a "Class M" 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.

Class M Certificate. Any one of the Class M Certificates executed by the Depositor and authenticated by the Trustee, subordinated in right of payment to the Class A Certificates, substantially in the form of the Class M Certificate set forth in Exhibit D hereto.

Examples of Class M Certificate in a sentence

• Any allocation of Realized Losses to a Class A Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made.

• Ownership of a Class A Certificate, Class M Certificate or Class B Certificate will not be a factor in determining whether the owner thereof is subject to Minnesota income or franchise taxes.

• Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class A Certificate or Class M Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Class A Certificate or Class M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate from Net Monthly Excess Cashflow.

• Resecuritization of any Class A or Class M Certificate in a REMIC will be permissible only if the Trustee hereunder is the trustee in such resecuritization.

• As a result of the foregoing, the amount of distributions and taxable income on the REMIC regular interest corresponding to a Class A or Class M Certificate may exceed the actual amount of distributions on the Class A or Class M Certificate.

More Definitions of Class M Certificate

Class M Certificate. Any one of the Class M-1, Class M-2 or Class M-3 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A-1, executed by the Securities Administrator and authenticated and delivered by the Securities Administrator, representing the right to distributions as set forth herein and therein.

Class M Certificate. Any Class M-1 Certificate, Class M-2 Certificate, Class M-3 Certificate, Class M-4 Certificate, Class M-5 Certificate, Class M-6 Certificate, Class M-7 Certificate, Class M-8 Certificate, Class M-9 Certificate, Class M-10 Certificate, Class M-11 Certificate or Class M-12 Certificate.

Class M Certificate. Any one of the Class M-1 Certificates, Class M-2 Certificates or Class M-3 Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and evidencing an interest designated as a "regular interest" in the REMIC for purposes of the REMIC Provisions.

Class M Certificate. Any one of the Certificates with an "M" designated on the face thereof substantially in the form annexed hereto as Exhibit C-1, Exhibit C-2, Exhibit C-3, Exhibit C-4, Exhibit C-5 and Exhibit C-6, executed by the Trustee on behalf of the Trust and authenticated and delivered by the Certificate Registrar, representing the right to distributions as set forth herein and therein.

Class M Certificate. Any one of the Certificates executed by the Trust Administrator and authenticated by the Trust Administrator or the Authenticating Agent in substantially the form set forth in Exhibit C and Exhibit D hereto.

Class M Certificate. Any one of the Class M-I or Class M-II Certificates.

Class M Certificate means any one of the Class M-1 or M-2 Certificates executed and delivered by the Trustee.