Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 30-PA $23,299,000 7.00% May 2011 Class 30-PB 22,750,000 7.00% May 2017 Class 30-PC 20,958,000 7.00% November 2020 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00% August 2026 Class 30-A 30,389,000 7.00% May 2025 Class 30-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November 2025 Class 30-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 (1) August 2026 Class 30-D 4,461,000 8.00% June 2025 Class 30-E 1,877,000 8.00% July 2025 Class 30-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 (2) August 2026 Class 30-S 500,000 (2) August 2026 Class 30-R 0 0% August 2026 (1) The Class 30-C Certificates shall be Principal Only Certificates and shall not bear interest. (2) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable rates determined as described below: Initial Certificate Maximum Minimum Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 30-F 6.7539% 9.0% 1.25% LIBOR + 125 basis points Class 30-S 17.9723% 62.0% 0.00% 62% - (8.0 x LIBOR) (3) The Class 30-R Certificate does not have a Class Certificate Principal Balance and does not bear interest. The Class 30-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 30-R Certificate except that any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentation and surrender of the Class 30-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 30-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on any Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Principal Distribution Amount shall be applied to the distribution of principal of the Classes of Certificates in the following order of priority: (a) sequentially, to the Class 30-PA, Class 30-PB, Class 30-PC, Class 30-PD, Class 30-PE and Class 30-PG Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Date; (b) to the Class 30-A Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such Distribution Date; (c) to the Class 30-B, Class 30-K and Class 30-L Certificates, as specified below, until the Class Certificate Principal Balances thereof are reduced to their respective Scheduled Principal Balances: (i) 0.9731413001% of such amount to the Class 30-B Certificates; and
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen nine Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 3071-PA A $23,299,000 7.00159,368,000 7.50% January 2027 Class 71-B 20,000,000 7.50% January 2025 Class 71-C 30,000,000 7.50% May 2011 Class 30-PB 22,750,000 7.00% May 2017 Class 30-PC 20,958,000 7.00% November 2020 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00% August 2026 Class 3071-A 30,389,000 7.00D 5,000,000 7.50% May 2025 January 2027 Class 3071-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November 2025 Class 30-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 F 11,276,666 (1) August 2026 January 2027 Class 3071-D 4,461,000 8.00% June S 2,255,334 (1) January 2027 Class 71-FA 18,416,666 (1) January 2025 Class 3071-E 1,877,000 8.00% July SA 3,683,334 (1) January 2025 Class 3071-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 R (2) August 2026 Class 30-S 500,000 (2) August 2026 Class 30-R 0 0% August 2026January 2027
(1) The Class 30-C Certificates shall be Principal Only Certificates and shall not bear interest.
(2) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable rates determined as described below: Initial Certificate Maximum Minimum Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 3071-F 6.75396.81250% 9.09.00000% 1.25% LIBOR + 125 basis points Class 3071-S 17.972310.93748% 62.038.74998% 0.00% 6238.74998% - (8.0 4.99999822 x LIBOR) Class 71-FA 6.46250% 9.00000% 0.90% LIBOR + 90 basis points Class 71-SA 12.68749% 40.49999% 0.00% 40.49999% - (4.99999891 x LIBOR)
(32) The Class 3071-R Certificate does not have a Class Certificate Principal Balance and does not bear interest. The Class 3071-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 3071-R Certificate except that any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentation and surrender of the Class 3071-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 71- R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 3071-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on any Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Principal Distribution Amount shall be applied to the distribution of principal of the Classes of Certificates in the following order of priority:
(ai) sequentiallyto the Class 71-A Certificate, until the Class Certificate Principal Balance thereof is reduced to its Planned Principal Balance for such Distribution Date;
(ii) concurrently, to the Class 3071-PAB, Class 3071-PB, Class 30-PC, Class 30-PD, Class 30-PE FA and Class 3071-PG SA Certificates, in that orderproportion to their original Class Certificate Principal Balances (or 47.5059382423%, 43.0000000000% and 8.7490118765%, respectively), until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Datezero;
(biii) to the Class 3071-A C Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such Distribution Datezero;
(civ) concurrently, to the Class 3071-BD, Class 3071-K F and Class 3071-L S Certificates, as specified belowin proportion to their original Class Certificate Principal Balances (or 26.9803582992%, 60.8496978200% and 12.1699438808%, respectively), until the Class Certificate Principal Balances thereof are reduced to their respective Scheduled Principal Balances: zero; and
(iv) 0.9731413001% of such amount to the Class 3071-B A Certificates; and, without regard to their Planned Principal Balance and until the Class Certificate Principal Balance thereof is reduced to zero.
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen twelve Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 3058-PA $23,299,000 7.00A $ 6,000,000 7.50% May 2011 April 2000 Class 3058-PB 22,750,000 7.00% May 2017 D 212,773,200 7.50 February 2024 Class 3058-PC 20,958,000 7.00% November 2020 E 7,692,500 7.50 October 2024 Class 3058-PD 15,072,000 7.00% November 2022 K 4,500,000 7.25 October 2024 Class 3058-PE 24,283,000 7.00% L 4,500,000 7.75 October 2024 Class 58-G 5,511,400 7.25 June 2025 Class 3058-PG 14,187,000 7.00% August 2026 Class 30-A 30,389,000 7.00% May H 5,511,500 7.50 June 2025 Class 3058-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November J 5,511,400 7.75 June 2025 Class 3058-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 F 40,000,000 (1) August 2026 January 2027 Class 3058-D 4,461,000 8.00% June 2025 S 5,000,000 (1) January 2027 Class 3058-E 1,877,000 8.00% July 2025 Class 30-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 PO 3,000,000 (2) August 2026 January 2027 Class 30-S 500,000 (2) August 2026 Class 3058-R 0 0% August 2026(3) (3) January 2027
(1) The Class 30-C Certificates shall be Principal Only Certificates and shall not bear interest.
(2) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods Period at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable respective rates determined as described below: Initial Certificate Interest Rate Maximum Certificate Interest Rate Minimum Certificate Interest Rate Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 3058-F 6.75396.775% 9.0% 1.251.40% LIBOR + 125 140 basis points Class 3058-S 17.972317.800% 62.060.8% 0.00% 6260.8% - — (8.0 x 8 X LIBOR)) Class 58-SA 11.125% 38.0% 0.00% 38% — (5 X LIBOR) (2) The Class 58-PO Certificates are Principal Only Certificates and do not bear interest.
(3) The Class 3058-R Certificate does not have a has no Class Certificate Principal Balance and does not bear interest. The Class 3058-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 3058-R Certificate on any Distribution date, except that any distribution of the proceeds of any remaining assets of the Trust Fund will shall be made only upon presentation and surrender of the Class 3058-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 58-R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 3058-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on in respect of any interest bearing Certificate on any Distribution Date shall be equal to (i) one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance of such Certificate immediately prior to such Distribution Date and (ii) on any Redemption Distribution Date, twenty-four days interest on each Certificate (other than any Certificate as to which the applicable Interest Accrual Period did not end on the last day of the month next preceding such Redemption Distribution Date) at the applicable Certificate Interest Rate calculated on the Certificate Principal Balance thereof that would have been outstanding immediately following such Redemption Distribution Date if (x) the Cash Flow Value Distribution Amount was based solely on the distribution of principal on the concurrent Security Distribution Due Date of the Xxxxxx Xxx Guaranteed MBS Pass- Through Security held in the Xxxxxx Mae Security Trust Fund and (y) such assumed Cash Flow Distribution Amount was applied in accordance with the priorities set forth below in this Section 1. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Principal Distribution Amount shall will be applied to the distribution of distributed as principal of the Classes of Certificates specified below in the following order of priority:
(ai) sequentially, to the Class 3058-PA, Class 30-PB, Class 30-PC, Class 30-PD, Class 30-PE A and Class 3058-PG D Certificates, in that order, until the respective Class Certificate Principal Balances thereof are reduced to zero;
(ii) concurrently, to the Class 58-E, Class 58-K and Class 58-L Certificates, in proportion to their original Class Certificate Principal Balances (or 46.0835704658%, 26.0000000000% and 26.0000000000%, respectively), until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Datezero;
(biii) concurrently, to the Class 3058-A G, Class 58-H and Class 58-J Certificates, until the in proportion to their original Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such Distribution Date;
Balances (c) to the Class 30-Bor 33.3331317322%, Class 30-K 33.3337365356% and Class 30-L Certificates33.3331317322%, as specified belowrespectively), until the Class Certificate Principal Balances thereof are reduced to their respective Scheduled Principal Balances: zero; and
(iiv) 0.9731413001% of such amount concurrently, to the Class 3058-B F, Class 58-S and Class 58-PO Certificates; and, in proportion to their original Class Certificate Principal Balances (or 83.3333333333%, 10.0000000000% and 6.2500000000%, respectively), until the Class Certificate Principal Balances thereof are reduced to zero.
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen eleven Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 30-PA $23,299,000 7.00% May 2011 Class 30-PB 22,750,000 7.00% May 2017 Class 30-PC 20,958,000 7.00% November 2020 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00% August 2026 Class 3038-A 30,389,000 7.00% May 2025 $14,891,259 (1) January 2024 Class 3038-SA (2) (3) January 2024 Class 38-B 200,000 7.00% August 2026 17,389,145 (1) November 2023 Class 3038-K 6,835,000 7.00% SB (2) (3) November 2025 2023 Class 30-L 13,517,000 7.00% August 2026 Class 3038-C 3,565,000 25,312,779 (1) December 2023 Class 38-SC (2) (3) December 2023 Class 38-E 13,283,580 (1) August 2026 2023 Class 3038-D 4,461,000 8.00% June 2025 Class 30-E 1,877,000 8.00% July 2025 Class 30-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 SE (2) (3) August 2026 2023 Class 3038-S 500,000 SD (2) August 2026 (3) April 2024 Class 3038-ST (2) (3) April 2024 Class 38-R 0 0% August 2026(4) (4) April 2024
(1) The Class 3038-A, Class 38-B, Class 38-C and Class 38-E Certificates shall be are Principal Only Certificates and shall not bear interest.
(2) The Class 38-SA, Class 38-SB, Class 38-SC, Class 38-SE, Class 38-SD and Class 38-ST Certificates are Classes of Interest Only Certificates, have no Class Certificate Principal Balances and shall bear interest on their respective Class Notional Principal Balances. The original Class Notional Principal Balances shall be as follows: Original Class Notional Interest Only Classes Principal Balance Class 38-SA $14,891,259 Class 38-SB 69,247,453 Class 38-SC 100,801,130 Class 38-SE 22,708,545 Class 38-SD 149,787,745 Class 38-ST 149,787,745
(3) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods Period at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable respective rates determined as described below: Initial Certificate Maximum Minimum Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 3038-F 6.7539SA 1.75135 10.40790% 9.00.0% 1.25% LIBOR + 125 basis points Class 30-S 17.9723% 62.0% 0.00% 6210.4079% - (8.0 x 1.60121 X LIBOR)) Class 38-SB 0.84375 3.12499% 0.0% 6.25% - LIBOR Class 38-SC 0.84375 3.12499% 0.0% 6.25% - LIBOR Class 38-SE 1.09375 6.50000% 0.0% 6.50% - LIBOR Class 38-SD 1.59375 7.00000% 0.0% 7.00% - LIBOR Class 38-ST 0.95000 0.95000% 0.0% 7.95% - LIBOR
(34) The Class 3038-R Certificate does not have a has no Class Certificate Principal Balance and does shall not bear interest. The Class 3038-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 3038-R Certificate except that any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentation and surrender of the Class 3038-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 38-R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 3038-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-interest bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on in respect of any interest bearing Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Group 1 Principal Distribution Amount shall be applied to the distribution of principal of the Classes of Certificates in the following order of priority:
(a) sequentially, to the Class 30-PA, Class 30-PB, Class 30-PC, Class 30-PD, Class 30-PE and Class 30-PG Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Date;
(b) to the Class 3038-A Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such zero. On each Distribution Date;
(c) , the Group 2 Principal Distribution Amount shall be applied to the distribution of principal of the Class 3038-B, Class 30-K and Class 30-L B Certificates, as specified below, until the Class Certificate Principal Balances Balance thereof are is reduced to their respective Scheduled zero. On each Distribution Date, the Group 3 Principal Balances: (i) 0.9731413001% of such amount Distribution Amount shall be applied to the distribution of principal of the Class 3038-B C Certificates; and, until the Class Certificate Principal Balance thereof is reduced to zero. On each Distribution Date, the Group 4 Principal Distribution Amount shall be applied to the distribution of principal of the Class 38-E Certificates, until the Class Certificate Principal Balance thereof is reduced to zero.
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen fourteen Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 3059-PA A $23,299,000 7.00393,233,230 7.5% May 2011 December 2026 Class 3059-PB 22,750,000 7.00% May 2017 Class 30-PC 20,958,000 7.00% November 2020 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00B 23,676,000 7.5% August 2026 2024 Class 3059-A 30,389,000 7.00% May 2025 Class 30-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November 2025 Class 30-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 FA 27,142,000 (1) August 2024 Class 59-SA 5,428,500 (1) August 2024 Class 59-E 3,257,155 7.5% July 2023 Class 59-G 971,741 7.5% January 2024 Class 59-H 5,532,604 7.5% August 2024 Class 59-D 12,678,249 7.5% March 2025 Class 59-C 16,131,887 7.5% March 2025 Class 59-F 84,419,516 (1) December 2026 Class 3059-D 4,461,000 8.00S 16,886,261 (1) December 2026 Class 59-J 20,268,000 6.5% June 2025 August 2022 Class 3059-E 1,877,000 8.00K 9,070,000 6.5% July 2025 2023 Class 3059-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 R (2) August 2026 Class 30-S 500,000 (2) August 2026 Class 30-R 0 0% August December 2026
(1) The Class 30-C Certificates shall be Principal Only Certificates and shall not bear interest.
(2) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable rates determined as described below: Initial Certificate Maximum Minimum Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 3059-F 6.75396.62500% 9.09.00000% 1.25% LIBOR + 125 basis points Class 3059-S 17.972311.87438% 62.038.74563% 0.00% 6238.74563% - (8.0 x 4.99930197 X LIBOR) Class 59-FA 6.12500% 9.00000% 0.75% LIBOR + 75 basis points Class 59-SA 14.37486% 41.24937% 0.00% 41.24937% - (4.99990789 X LIBOR)
(32) The Class 3059-R Certificate does not have a Class Certificate Principal Balance and does not bear interest. The Class 3059-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 3059-R Certificate Certificate, except that any distribution of the proceeds of any remaining assets of the Trust Fund will shall be made only upon presentation and surrender of the such Class 3059-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 59- R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 3059-R Certificateholder Certificate-holder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on any in respect of each interest-bearing Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Principal Distribution Amount and shall be applied to the distribution of principal of the Classes of Certificates distributed in the following order of priority:
(a) sequentially, to amounts and in the Class 30-PA, Class 30-PB, Class 30-PC, Class 30-PD, Class 30-PE and Class 30-PG Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Date;
(b) to the Class 30-A Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such Distribution Date;
(c) to the Class 30-B, Class 30-K and Class 30-L Certificates, as specified priorities described below, until the Class Certificate Principal Balances thereof are reduced to their respective Scheduled Principal Balances: (i) 0.9731413001% of such amount to the Class 30-B Certificates; and.
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen thirteen Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 3017-PA VA $23,299,000 7.001,711,000 6.00% May 2011 March 2001 Class 3017-PB 22,750,000 7.00% May 2017 VB $3,358,000 6.00 January 2008 Class 3017-PC 20,958,000 7.00% VC $5,092,000 6.00 October 2014 Class 17-ZA $5,017,572 6.00 March 2024 Class 17-VD $2,495,000 6.00 March 2001 Class 17-VE $4,892,000 6.00 December 2007 Class 17-VG $5,128,000 6.00 December 2012 Class 17-ZB $7,313,530 6.00 November 2020 2023 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00% August 2026 Class 3017-A 30,389,000 7.00% May 2025 $27,902,000 6.00 August 2004 Class 3017-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November 2025 Class 30-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 SA (1) August 2026 Class 30-D 4,461,000 8.00% June 2025 Class 30-E 1,877,000 8.00% July 2025 Class 30-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 (2) August 2026 March 2024 Class 3017-S 500,000 P $16,845,187 (23) August 2026 March 2024 Class 3017-B $14,732,143 10.00 February 2019 Class 17-R 0 0% August 2026(4) (4) March 2024
(1) The Class 3017-C SA Certificates shall be are Interest Only Certificates, have no Class Certificate Principal Only Certificates Balance and shall not bear interestinterest on their Class Notional Principal Balance (initially, $24,064,552).
(2) The following Classes of Class 17-SA Certificates shall bear interest during their respective initial Interest Accrual Periods Period at the respective initial Certificate Interest Rates Rate set forth below, and shall bear interest during each Interest Accrual Period thereafter, thereafter at the applicable rates rate determined as described below: Initial Certificate Interest Rate Maximum Certificate Interest Rate Minimum Certificate Interest Rate Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 3017-F 6.7539SA 2.48124% 9.07.94999% 1.250.0% LIBOR + 125 basis points Class 30-S 17.9723% 62.0% 0.00% 627.94999% - (8.0 x LIBOR)
(3) The Class 3017-P Certificates are Principal Only Certificates and shall not bear interest.
(4) The Class 17-R Certificate does not have a Class Certificate Principal Balance and does shall not bear interest. The Class 3017-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest shall be made on the Class 3017-R Certificate except that any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentation and surrender of the Class 3017-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 17- R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 3017-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-interest bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date, except, to the extent described below, for interest on the Class 17-ZA and Class 17-ZB Certificates. The total amount of interest either distributed on any or added to the Class Certificate Principal Balance on any Distribution Date in respect of any interest bearing Certificate shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date. On each Distribution Date prior to the applicable Initial Interest Distribution Dates, interest accrued on the Class 17-ZA and Class 17-ZB Certificates shall not be distributable thereon but shall instead be added to the respective Class Certificate Principal Balances thereof. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Group 1 Accrual Amount shall be distributed, sequentially, as principal of the Class 17-VA, Class 17-VB, and Class 17-VC Certificates, in that order, until the respective Class Certificate Principal Balances thereof are reduced to zero, and then to the Class 17-ZA Certificates. On each Distribution Date, the Group 1 Cash Flow Distribution Amount shall be applied applied, sequentially, to the distribution of principal of the Classes of Certificates in the following order of priority:
(a) sequentially, to the Class 3017-PAVA, Class 3017-PBVB, Class 3017-PC, Class 30-PD, Class 30-PE VC and Class 3017-PG ZA Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to their zero. On each Distribution Date, the Group 2 Accrual Amount shall be distributed sequentially, as principal of the Class 17-VD, Class 17-VE, and Class 17-VG Certificates, in that order, until the respective Planned Class Certificate Principal Balances for such Distribution Date;
(b) thereof are reduced to zero, and then to the Class 3017-ZB Certificates. On each Distribution Date, the Group 2 Cash Flow Distribution Amount shall be applied, sequentially, to the distribution of principal of the Class 17-VD, Class 17-VE, Class 17-VG and Class 17-ZB Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to zero. On each Distribution Date, the Group 3 Principal Distribution Amount shall be applied to the distribution of principal of the Class 17-A Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such zero. On each Distribution Date;
(c) , the Group 4 Principal Distribution Amount shall be applied to the distribution of principal of the Class 3017-B, Class 30-K and Class 30-L P Certificates, as specified below, until the Class Certificate Principal Balances Balance thereof are is reduced to their respective Scheduled zero. On each Distribution Date, the Group 5 Principal Balances: (i) 0.9731413001% of such amount Distribution Amount shall be applied to the distribution of principal of the Class 3017-B Certificates; and, until the Class Certificate Principal Balance thereof is reduced to zero.
Appears in 1 contract
Samples: Trust Agreement
Classes of Certificates; Distributions on Certificates. The Series of Certificates authorized by the Trust Agreement and this Issue Supplement shall be divided into nineteen five Classes of Certificates having the terms and provisions hereinafter set forth. The Class designations, original Class Certificate Principal Balances, Certificate Interest Rates and Final Distribution Dates shall be as follows: Designation Original Class Certificate Principal Balance Certificate Interest Rate Final Distribution Date Class 30-PA $23,299,000 7.00% May 2011 Class 30-PB 22,750,000 7.00% May 2017 Class 30-PC 20,958,000 7.00% November 2020 Class 30-PD 15,072,000 7.00% November 2022 Class 30-PE 24,283,000 7.00% June 2025 Class 30-PG 14,187,000 7.00% August 2026 Class 306-A 30,389,000 7.00% May 2025 Class 30-B 200,000 7.00% August 2026 Class 30-K 6,835,000 7.00% November 2025 Class 30-L 13,517,000 7.00% August 2026 Class 30-C 3,565,000 $14,308,484 (1) August 2026 March 2024 Class 306-D 4,461,000 8.00% June 2025 Class 30-E 1,877,000 8.00% July 2025 Class 30-G 2,275,000 8.00% September 2025 Class 30-H 1,693,000 8.00% October 2025 Class 30-J 10,139,000 8.00% August 2026 Class 30-F 4,000,000 SA (2) August 2026 (3) March 2024 Class 306-S 500,000 B 23,382,986 (21) August 2026 September 2023 Class 306-SB (4) (3) September 2023 Class 6-R 0 0% August 20261,000 (1) March 2024
(1) The Class 306-C A, Class 6-B and Class 6-R Certificates shall will be Principal Only Certificates principal only certificates and shall not bear interest.
(2) The Class 6-SA Certificates are Interest Only Certificates, have no Class Certificate Principal Balance and shall bear interest on their Class Notional Principal Balance. Their original Class Notional Principal Balance shall be $14,308,484.
(3) The following Classes of Certificates shall bear interest during their respective initial Interest Accrual Periods Period at the respective initial Certificate Interest Rates set forth below, and shall bear interest during each Interest Accrual Period thereafter, at the applicable respective rates determined as described below: Initial Certificate Interest Rate Maximum Certificate Interest Rate Minimum Certificate Interest Rate Formula for Calculation of Class Interest Rate Certificate Interest Rate Certificate Interest Rate Certificate Interest Rate Class 306-F 6.7539SA 8.79531% 9.026.16250% 1.250.0% LIBOR + 125 basis points Class 30-S 17.9723% 62.0% 0.00% 6226.1625% - (8.0 x LIBOR X 3.25) Class 6-SB 8.99791% 21.46666% 0.0% 21.46666% - (2.33333333 X LIBOR)
(34) The Class 306-R Certificate does not SB Certificates are Interest Only Certificates, have a no Class Certificate Principal Balance and does not shall bear interestinterest on their Class Notional Principal Balance. Their original Class Notional Principal Balance shall be $23,383,986. The Class 306-R Certificate is hereby designated as the sole Class of “residual interest” in the REMIC within the meaning of Section 860G(a)(2) of the Code. Each remaining Class of Certificates is hereby designated as a “regular interest” in the REMIC within the meaning of Section 860G(a)(1) of the Code. No distributions of principal or interest Distributions on the Class 6-R Certificate shall be made on by check mailed by the Class 30-R Certificate except Paying Agent not later than the related Distribution Date to the address of the Holder thereof as of the preceding Record Date; provided, however, that any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentation and surrender of the Class 306-R Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Mae. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 30- 6-R Certificate as provided herein. Xxxxxx Mae shall distribute to the Class 306-R Certificateholder the proceeds of the remaining assets of the Trust Fund, if any, after the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero. Interest on each Class of interest-bearing Certificates for the related Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on in respect of any interest bearing Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Certificates shall be made in an amount equal to the Principal Distribution Amount. On each Distribution Date, the Group 1 Principal Distribution Amount shall be applied to the distribution of principal of the Classes of Certificates in the following order of priority:
(a) sequentially, to the Class 30-PA, Class 30-PB, Class 30-PC, Class 30-PD, Class 30-PE and Class 30-PG Certificates, in that order, until the Class Certificate Principal Balances thereof are reduced to their respective Planned Principal Balances for such Distribution Date;
(b) to the Class 306-A Certificates, until the Class Certificate Principal Balance thereof is reduced to its Scheduled Principal Balance for such zero. On each Distribution Date;
(c) , 0.0042764309% of the Group 2 Principal Distribution Amount shall be applied to the distribution of principal of the Class 306-BR Certificate. On each Distribution Date, the remaining portion of the Group 2 Principal Distribution Amount shall be applied to the distribution of principal of the Class 306-K and Class 30-L B Certificates, as specified below, until the Class Certificate Principal Balances Balance thereof are is reduced to their respective Scheduled Principal Balances: (i) 0.9731413001% of such amount to the Class 30-B Certificates; andzero.
Appears in 1 contract
Samples: Trust Agreement