Class P Certificates. Component Certificates..................... None.
Class P Certificates. 18 TABLE OF CONTENTS (continued)
Class P Certificates. The Class P Certificates executed by the Trustee and authenticated by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A, evidencing beneficial ownership of the Class P Distributable Amount.
Class P Certificates. COFI Certificates........................................ None. Components............................................... None. Component Certificates................................... None. Delay Certificates....................................... Class A-R Certificates.
Class P Certificates. The Class P Certificates are not offered by this prospectus supplement. The Class P Certificates will have an initial certificate principal balance of $100 and will not be entitled to distributions in respect of interest. The Class P Certificates will be entitled to all prepayment charges received in respect of the Mortgage Loans, subject to certain limitations set forth in the Pooling and Servicing Agreement. The Class P Certificates will be delivered to a wholly-owned bankruptcy remote subsidiary of the Originator as partial consideration for the Mortgage Loans. CLASS R CERTIFICATES. The Class R Certificates are the class of certificates representing the residual interests in the trust, but are not offered by this prospectus supplement. The Class R Certificates will be delivered to a wholly-owned bankruptcy remote subsidiary of the Originator as partial consideration for the Mortgage Loans. CREDIT ENHANCEMENT The credit enhancement provided for the benefit of the holders of the Offered Certificates consists of excess interest, subordination and overcollateralization, each as described below and under "Description of the Certificates--Credit Enhancement" and "--Overcollateralization Provisions" in this prospectus supplement. EXCESS INTEREST. The Mortgage Loans bear interest each month in an amount that in the aggregate is expected to exceed the amount needed to distribute monthly interest on the Offered Certificates and to pay certain fees and expenses of the trust. Any excess interest from the Mortgage Loans each month will be available to absorb realized losses on the Mortgage Loans and to maintain or restore overcollateralization at required levels. SUBORDINATION. The rights of the holders of the Mezzanine Certificates and the Class CE Certificates to receive distributions will be subordinated, to the extent described in this prospectus supplement, to the rights of the holders of the Class A Certificates and the Class S Certificates. In addition, the rights of the holders of Mezzanine Certificates with higher numerical class designations to receive distributions in respect of the Mortgage Loans will be subordinated to the rights of holders of Mezzanine Certificates with lower numerical class designations, and the rights of the holders of the Class CE Certificates to receive distributions in respect of the Mortgage Loans will be subordinated to the rights of the holders of the Mezzanine Certificates, in each case to the extent described under "Descripti...
Class P Certificates. Components......................
Class P Certificates. Mezzanine Certificates................................ Class M1 and Class M2 Certificates. Non-Offered Certificates.............................. Class B-IO, Class X, Class P and Residual Certificates. Offered Certificates.................................. Class A, Class A-IO and Subordinated Offered Certificates. Physical Certificates................................. Class B-IO, Class X, Class P and Residual Certificates. Regular Certificates.................................. All Classes of Certificates other than the Residual Certificates. Residual Certificates................................. Class R Certificates. Subordinated Certificates............................. Class X, Class B-IO and Subordinated Offered Certificates. Subordinated Offered Certificates..................... Mezzanine Certificates and Class B Certificates. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee agree as follows:
Class P Certificates. $100. The Class X-1 Certificates will be issued as a single Certificate with a Certificate Principal Balance of $2.61. The Class X-2 Certificates will not have a principal balance.
Class P Certificates. 9 Class P-L Regular Interests. . . . . . . . . . . . . . . . . . . . . . . . . 9
Class P Certificates. Senior Certificates.................... Class A-1, Class A-2, Class A-X-1, Class A-X-2 and Class A-R Certificates. Subordinated Certificates.............. Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. Targeted Principal Classes............. None.
