Common use of REMIC III Designation Clause in Contracts

REMIC III Designation. The Trust shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship of a regular interest in REMIC III except to the extent provided below: Class 1A1 $ 299,849,000 2.273%(1) Class 1A2 $ 6,518,000 2.273%(1) Class 1AX $ 321,522,000 (2) 1.037% (3) Class 2A1 $ 96,813,000 4.250% (4) Class 2A2 $ 150,000,000 3.554% (5) Class 2A3 $ 60,000,000 4.500% (6) Class 2AX1 $ 96,813,000(7) 0.605% (8) Class 2AX2 $ 150,000,000(9) 1.301% (10) Class 2AX3 $ 60,000,000(11) 0.355% (12) Class 3A1 $ 90,841,000 4.593% (13) Class 3A2 $ 35,697,000 4.593% (13) Class 3A3 $ 63,505,000 4.593% (13) Class 3A4 $ 38,519,000 4.593% (13) Class 3A5 $ 32,825,000 4.593% (13) Class 3A6 $ 88,679,000 4.593% (13) Class 1B1 $ 8,800,000 2.533% (14) Class 1B2 $ 3,585,000 2.883% (15) Class 1B3 $ 2,770,000 3.533% (16) Class 1B4 $ 1,467,000 3.332% (17) Class 1B5 $ 815,000 3.332% (17) Class 1B6 $ 2,118,829 3.332% (17) Class 2B1 $ 12,673,000 4.715% (18) Class 2B2 $ 6,507,000 4.715% (18) Class 2B3 $ 3,082,000 4.715% (18) Class 2B4 $ 2,055,000 4.715% (18) Class 2B5 $ 1,370,000 4.715% (18) Class 2B6 $ 2,397,982 4.715% (18) Class R $ 100 4.855% (19) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 and Class 1A2 Certificates will equal a per annum rate equal to the lesser of (a) one-month LIBOR plus 0.34% and (b) the Net WAC Rate for Loan Group 1. The REMIC regular interests evidenced by each of the Class 1A1 and Class 1A2 Certificates shall bear interest at a maximum interest rate equal to the Net WAC Rate for Group 1. Any Net WAC Shortfall payable to a Class 1A1 or Class 1A2 Certificate shall be treated as being payable pursuant to the contractual rights described in Section 11.01(j) of the Standard Terms.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2004-12)

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REMIC III Designation. The Trust shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship ownership of a regular interest in REMIC III except to the extent provided below: Class 1A1 $ 299,849,000 2.273%(1114,582,000 5.22079%(1) Class 1A2 $ 6,518,000 2.273%(1) Class 1AX $ 321,522,000 (2) 1.037% (34,379,000 5.22079%(1) Class 2A1 $ 96,813,000 4.250% (4435,290,000 4.56083%(2) Class 2A2 $ 150,000,000 3.554% (5) Class 2A3 $ 60,000,000 4.500% (6) Class 2AX1 $ 96,813,000(7) 0.605% (8) Class 2AX2 $ 150,000,000(9) 1.301% (10) Class 2AX3 $ 60,000,000(11) 0.355% (1216,634,000 4.56083%(2) Class 3A1 $ 90,841,000 4.593% (13107,172,000 5.19027%(3) Class 3A2 4A1 $ 35,697,000 4.593% (13132,045,000 5.37585%(4) Class 3A3 4A2 $ 63,505,000 4.593% (135,046,000 5.37585%(4) Class 3A4 5A1 $ 38,519,000 4.593% (13141,747,000 5.38441%(5) Class 3A5 5A2 $ 32,825,000 4.593% (135,417,000 5.38441%(5) Class 3A6 6A1 $ 88,679,000 4.593% (13775,768,000 5.26169%(6) Class 1B1 $ 8,800,000 2.533% (1416,464,000 4.95457%(7) Class 1B2 $ 3,585,000 2.883% (156,485,000 4.95457%(7) Class 1B3 $ 2,770,000 3.533% (164,490,000 4.95457%(7) Class 1B4 $ 1,467,000 3.332% (173,492,000 4.95457%(7) Class 1B5 $ 815,000 3.332% (172,494,000 4.95457%(7) Class 1B6 $ 2,118,829 3.332% (171,996,047 4.95457%(7) Class 2B1 $ 12,673,000 4.715% (1811,197,000 5.26169%(8) Class 2B2 $ 6,507,000 4.715% (184,798,000 5.26169%(8) Class 2B3 $ 3,082,000 4.715% (182,799,000 5.26169%(8) Class 2B4 $ 2,055,000 4.715% (182,400,000 5.26169%(8) Class 2B5 $ 1,370,000 4.715% (181,599,000 5.26169%(8) Class 2B6 $ 2,397,982 4.715% (181,200,355 5.26169%(8) Class R $ 100 4.855% (194.56083%(9) Class RT1 $ 100 4.56083%(10) Class RT2 $ 100 5.26169%(10) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 and Class 1A2 Certificates will shall equal a per annum rate equal to the lesser of (a) one-month LIBOR plus 0.34% and (b) the Net WAC Rate for Loan Group 1. The REMIC regular interests evidenced by . (2) For each of Distribution Date the Certificate Rate for the Class 1A1 2A1 and Class 1A2 2A2 Certificates shall bear interest at equal a maximum interest per annum rate equal to the Net WAC Rate for Loan Group 2. (3) For each Distribution Date the Certificate Rate for the Class 3A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 3. (4) For each Distribution Date, the Certificate Rate for the Class 4A1 and Class 4A2 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 4. (5) For each Distribution Date, the Certificate Rate for the Class 5A1 and Class 5A2 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 5. (6) For each Distribution Date, the Certificate Rate for the Class 6A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 6. (7) For each Distribution Date, the Certificate Rate for the Class 1B1, Class 1B2, Class 1B3, Class 1B4, Class 1B5 and Class 1B6 Certificates shall equal a per annum rate equal to the weighted average of the Net WAC Rates for Loan Group 1. Any , Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, weighted on the basis of the related Group Subordinate Amounts. (8) For each Distribution Date, the Certificate Rate for the Class 2B1, Class 2B2, Class 2B3, Class 2B4, Class 2B5 and Class 2B6 Certificates shall equal a per annum rate equal to the Net WAC Shortfall payable to Rate for Loan Group 6. (9) For each Distribution Date, the Certificate Rate for the Class R Certificates shall equal a Class 1A1 or Class 1A2 Certificate shall be treated as being payable pursuant per annum rate equal to the contractual rights described Net WAC Rate for Loan Group 2. The Class R Certificates represent the sole class of residual interest in Section 11.01(jREMIC III. (10) For each Distribution Date, the Certificate Rate for the Class RT1 and Class RT2 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 2 and Loan Group 6, respectively. The Class RT1 Certificates represent the sole class of residual interests in REMIC I and the Standard TermsClass RT2 Certificates represent the sole class of residual interest in REMIC II.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2005-Ar7)

REMIC III Designation. The Trust shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship ownership of a regular interest in REMIC III except to the extent provided below: Class 1A1 $ 299,849,000 2.273%(1) Class 1A2 $ 6,518,000 2.273%(1) Class 1AX $ 321,522,000 (2) 1.037% (370,927,000 4.113%(1) Class 2A1 $ 96,813,000 4.250% (4) Class 2A2 $ 150,000,000 3.554% (5) Class 2A3 $ 60,000,000 4.500% (6) Class 2AX1 $ 96,813,000(7) 0.605% (8) Class 2AX2 $ 150,000,000(9) 1.301% (10) Class 2AX3 $ 60,000,000(11) 0.355% (12$132,353,000 5.087%(2) Class 3A1 $ 90,841,000 4.593% (1328,000,000 4.814%(3) Class 3A2 $ 35,697,000 4.593% (1350,000,000 4.814%(3) Class 3A3 $ 63,505,000 4.593% (133,500,000 4.814%(3) Class 3A4 $ 38,519,000 4.593% (13$205,630,000 4.814%(3) Class 3A5 $ 32,825,000 4.593% (1368,208,000 4.814%(3) Class 3A6 4A1 $ 88,679,000 4.593% (1342,548,000 5.309%(4) Class 5A1 $230,375,000 5.425%(5) Class 6A1 $411,115,000 5.250%(6) Class X $411,115,000(7) 0.179%(8) Class 1B1 $ 8,800,000 2.533% (1414,680,000 4.992%(9) Class 1B2 $ 3,585,000 2.883% (156,044,000 4.992%(9) Class 1B3 $ 2,770,000 3.533% (163,886,000 4.992%(9) Class 1B4 $ 1,467,000 3.332% (173,022,000 4.992%(9) Class 1B5 $ 815,000 3.332% (172,591,000 4.992%(9) Class 1B6 $ 2,118,829 3.332% (171,727,144 4.992%(9) Class 2B1 $ 12,673,000 4.715% (185,498,000 5.429%(10) Class 2B2 $ 6,507,000 4.715% (182,538,000 5.429%(10) Class 2B3 $ 3,082,000 4.715% (181,269,000 5.429%(10) Class 2B4 $ 2,055,000 4.715% (181,057,000 5.429%(10) Class 2B5 $ 1,370,000 4.715% (18846,000 5.429%(10) Class 2B6 $ 2,397,982 4.715% (18635,219 5.429%(10) Class R $ 100 4.855% (195.087%(11) Class RT1 $ 100 5.087%(11) Class RT2 $ 100 5.429%(12) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 1. (2) For each Distribution Date the Certificate Rate for the Class 2A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 2. (3) For each Distribution Date the Certificate Rate for the Class 3A1, Class 3A2, Class 3A3, Class 3A4 and Class 1A2 3A5 Certificates will shall equal a per annum rate equal to the Net WAC Rate for Loan Group 3. (4) For each Distribution Date, the Certificate Rate for the Class 4A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 4. (5) For each Distribution Date, the Certificate Rate for the Class 5A1 Certificates shall equal a per annum rate equal to the Net WAC Rate for Loan Group 5. (6) For each Distribution Date on or prior to the Distribution Date in May 2015, the Certificate Rate for the Class 6A1 Certificates shall equal a per annum rate equal to the lesser of (a) one-month LIBOR plus 0.345.250% and (b) the Net WAC Rate for Loan Group 16. The REMIC regular interests evidenced by For each of Distribution Date after the Distribution Date in May 2015, the Certificate Rate for the Class 1A1 and Class 1A2 6A1 Certificates shall bear interest at equal a maximum interest per annum rate equal to the Net WAC Rate for Loan Group 1. Any Net WAC Shortfall payable to a Class 1A1 or Class 1A2 Certificate shall be treated as being payable pursuant to the contractual rights described in Section 11.01(j) of the Standard Terms6.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar4)

REMIC III Designation. The Trust REMIC shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship of a regular interest in REMIC III except to the extent provided belowBalances: Class 1A1 $ 299,849,000 2.273%(1) Class 1A2 $ 6,518,000 2.273%(130,000,000 1.800%(1) Class 1AX $ 321,522,000 (230,000,000(2) 1.0371.553% (3) Class 2A1 1A2 $ 96,813,000 4.25041,207,000 3.053% (4) Class 2A2 $ 150,000,000 3.5542A1 $232,398,000 4.720% (5) Class 2A3 $ 60,000,000 4.5003A1 $155,295,000 3.691% (6) Class 2AX1 3A2 $ 96,813,000(74,760,000 3.691% (6) 0.605Class 4A1 $ 90,711,000 4.073% (7) Class 5A1 $ 37,692,000 3.932% (8) Class 2AX2 5A2 $ 150,000,000(944,352,000 3.932% (8) Class 5A3 $ 20,439,000 3.932% (8) Class 5A4 $ 16,080,000 3.932% (8) Class 5A5 $ 12,319,000 3.932% (8) Class 5A6 $ 21,373,000 3.932% (8) Class 5A7 $ 25,229,000 3.932% (8) Class 5A8 $ 1,640,000 3.932% (8) Class 6A1 $144,471,000 5.192% (9) 1.301Class 7A1 $ 51,075,000 5.928% (10) Class 2AX3 B1 $ 60,000,000(11) 0.35516,480,000 4.340% (1211) Class 3A1 B2 $ 90,841,000 4.5939,208,000 4.340% (1311) Class 3A2 B3 $ 35,697,000 4.5934,846,000 4.340% (1311) Class 3A3 B4 $ 63,505,000 4.5933,877,000 4.340% (1311) Class 3A4 B5 $ 38,519,000 4.5931,938,000 4.340% (1311) Class 3A5 B6 $ 32,825,000 4.5933,878,611 4.340% (13) Class 3A6 $ 88,679,000 4.593% (13) Class 1B1 $ 8,800,000 2.533% (14) Class 1B2 $ 3,585,000 2.883% (15) Class 1B3 $ 2,770,000 3.533% (16) Class 1B4 $ 1,467,000 3.332% (17) Class 1B5 $ 815,000 3.332% (17) Class 1B6 $ 2,118,829 3.332% (17) Class 2B1 $ 12,673,000 4.715% (18) Class 2B2 $ 6,507,000 4.715% (18) Class 2B3 $ 3,082,000 4.715% (18) Class 2B4 $ 2,055,000 4.715% (18) Class 2B5 $ 1,370,000 4.715% (18) Class 2B6 $ 2,397,982 4.715% (1811) Class R $ 100 4.8554.720% (1912) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 and Class 1A2 Certificates will equal a per annum rate equal to the lesser of (a) the Net WAC Rate for Loan Group 1 and (b) one-month LIBOR plus 0.34% and 0.35%. (b2) Notional Amount. (3) For each Distribution Date, the Certificate Rate for the Class 1AX Certificates will equal a per annum rate equal to the excess, if any, of (a) the Net WAC Rate for Loan Group 1. The REMIC regular interests evidenced by each of 2 over (b) the Certificate Rate for the Class 1A1 and Certificates. (4) For each Distribution Date, the Certificate Rate for the Class 1A2 Certificates shall bear interest at a maximum interest rate will equal to the Net WAC Rate for Loan Group 1. Any . (5) For each Distribution Date, the Certificate Rate for the Class 2A1 Certificates will equal the Net WAC Shortfall payable to a Rate for Loan Group 2. (6) For each Distribution Date, the Certificate Rate for the Class 1A1 or 3A1 and Class 1A2 3A2 Certificates will equal the Net WAC Rate for Loan Group 3. (7) For each Distribution Date, the Certificate shall be treated as being payable pursuant to Rate for the contractual rights described in Section 11.01(jClass 4A1 Certificates will equal the Net WAC Rate for Loan Group 4. (8) For each Distribution Date, the Certificate Rate for the Class 5A1, Class 5A2, Class 5A3, Class 5A4, Class 5A5, Class 5A6, Class 5A7 and Class 5A8 Certificates will equal the Net WAC Rate for Loan Group 5. (9) For each Distribution Date, the Certificate Rate for the Class 6A1 Certificates will equal the Net WAC Rate for Loan Group 6. (10) For each Distribution Date, the Certificate Rate for the Class 7A1 Certificates will equal the Net WAC Rate for Loan Group 7. (11) For each Distribution Date, the Certificate Rate for the Class B1, Class B2, Class B3, Class B4, Class B5 and Class B6 Certificates will equal the Net WAC Rate for all seven Loan Groups, weighted on the basis of the Standard Termsrelated Group Subordinate Amount. (12) The Certificate Rate for the Class R Certificates will equal the Net WAC Rate for Loan Group 2. The Class R Certificates represent the aggregate residual interests of each REMIC.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GS Mortgage GSR Loan Trust 2004-9)

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REMIC III Designation. The Trust shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship ownership of a regular interest in REMIC III except to the extent provided below: Class 1A1 $ 299,849,000 2.273%(188,117,000 4.689%(1) Class 1A2 $ 6,518,000 2.273%(1$172,225,000 4.689%(1) Class 1AX 1A3 $ 321,522,000 (2) 1.037% (38,206,000 4.689%(1) Class 2A1 $ 96,813,000 4.250% (4) Class 2A2 $ 150,000,000 3.554% (5) Class 2A3 $ 60,000,000 4.500% (6) Class 2AX1 $ 96,813,000(7) 0.605% (8) Class 2AX2 $ 150,000,000(9) 1.301% (10) Class 2AX3 $ 60,000,000(11) 0.355% (12$222,753,000 4.895%(2) Class 3A1 $ 90,841,000 4.593% (1350,865,000 5.053%(3) Class 3A2 $ 35,697,000 4.593% (134A1 $136,791,000 5.349%(4) Class 3A3 $ 63,505,000 4.593% (13) Class 3A4 $ 38,519,000 4.593% (13) Class 3A5 $ 32,825,000 4.593% (13) Class 3A6 $ 88,679,000 4.593% (135A1 $181,967,000 5.345%(5) Class 1B1 $ 8,800,000 2.533% (1410,648,000 4.917%(6) Class 1B2 $ 3,585,000 2.883% (157,454,000 4.917%(6) Class 1B3 $ 2,770,000 3.533% (164,614,000 4.917%(6) Class 1B4 $ 1,467,000 3.332% (174,259,000 4.917%(6) Class 1B5 $ 815,000 3.332% (172,129,000 4.917%(6) Class 1B6 $ 2,118,829 3.332% (171,775,131 4.917%(6) Class 2B1 $ 12,673,000 4.715% (181,205,000 5.345%(5) Class 2B2 $ 6,507,000 4.715% (18927,000 5.345%(5) Class 2B3 $ 3,082,000 4.715% (18464,000 5.345%(5) Class 2B4 $ 2,055,000 4.715% (18556,000 5.345%(5) Class 2B5 $ 1,370,000 4.715% (1893,000 5.345%(5) Class 2B6 $ 2,397,982 4.715% (18185,758 5.345%(5) Class R $ 100 4.855% (194.895%(7) Class RH $ 100 4.895%(8) Class RS $ 100 5.345%(8) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 1A1, Class 1A2 and Class 1A2 1A3 Certificates will equal a per annum rate equal to the lesser of (a) one-month LIBOR plus 0.34% and (b) the Net WAC Rate for Loan Group 1. The REMIC regular interests evidenced by . (2) For each of Distribution Date the Certificate Rate for the Class 1A1 and Class 1A2 2A1 Certificates shall bear interest at will equal a maximum interest per annum rate equal to the Net WAC Rate for Loan Group 2. (3) For each Distribution Date the Certificate Rate for the Class 3A1 Certificates will equal a per annum rate equal to the Net WAC Rate for Loan Group 3. (4) For each Distribution Date, the Certificate Rate for the Class 4A1 Certificates will equal a per annum rate equal to the Net WAC Rate for Loan Group 4. (5) For each Distribution Date, the Certificate Rate for the Class 5A1, Class 2B1, Class 2B2, Class 2B3, Class 2B4, Class 2B5 and Class 2B6 Certificates will equal a per annum rate equal to the Net WAC Rate for Loan Group 5. (6) For each Distribution Date, the Certificate Rate for the Class 1B1, Class 1B2, Class 1B3, Class 1B4, Class 1B5 and Class 1B6 Certificates will equal a per annum rate equal to the weighted average of the Net WAC Rates for Loan Group 1. Any , Loan Group 2, Loan Group 3 and Loan Group 4, weighted on the basis of the related Group Subordinate Amounts. (7) For each Distribution Date, the Certificate Rate for the Class R Certificates will equal a per annum rate equal to the Net WAC Shortfall payable to Rate for Loan Group 2. The Class R Certificates represent the sole class of residual interest in REMIC III. (8) For each Distribution Date, the Certificate Rate for the Class RH and Class RS Certificates will equal a Class 1A1 or Class 1A2 Certificate shall be treated as being payable pursuant per annum rate equal to the contractual rights described Net WAC Rate for Loan Group 2 and Loan Group 5, respectively. The Class RH Certificates represent the sole class of residual interests in Section 11.01(j) REMIC I and the Class RS Certificates represent the sole class of the Standard Termsresidual interest in REMIC II.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar2)

REMIC III Designation. The Trust REMIC shall issue each of the following Classes of Certificates, each of which shall have the following Certificate Rates and initial Class Principal Balances and which shall evidence owernship of a regular interest in REMIC III except to the extent provided belowBalances: Class 1A1 $ 299,849,000 2.273%(1$381,670,000 4.480%(1) Class 1A2 $ 6,518,000 2.273%(1$50,000,000 3.970% (2) Class 1AX $ 321,522,000 (2$50,000,000(3) 1.037% (3) Class 2A1 $ 96,813,000 4.2500.510% (4) Class 2A2 $ 150,000,000 3.5542A1 $200,000,000 4.500% (5) Class 2A3 $ 60,000,000 4.5002A2 $200,000,000 4.824% (6) Class 2AX1 $ 96,813,000(7) 0.6052A3 $197,041,000 4.896% (8) 7) Class 2AX1 $200,000,000(8) 0.396% (9) Class 2AX2 $ 150,000,000(9$200,000,000(10) 1.3010.072% (1011) Class 2AX3 $ 60,000,000(11) 0.3553A1 $28,864,000 4.671% (12) Class 3A1 $ 90,841,000 4.5934A1 $12,475,000 4.931% (13) Class 3A2 $ 35,697,000 4.593% (13) Class 3A3 $ 63,505,000 4.593% (13) Class 3A4 $ 38,519,000 4.593% (13) Class 3A5 $ 32,825,000 4.593% (13) Class 3A6 $ 88,679,000 4.593% (13) Class 1B1 $ 8,800,000 2.5335A1 $106,126,000 4.267% (14) Class 1B2 $ 3,585,000 2.883B1 $22,054,000 4.682% (15) Class 1B3 $ 2,770,000 3.533B2 $9,801,000 4.682% (15) Class B3 $4,901,000 4.682% (15) Class B4 $5,513,000 4.682% (15) Class B5 $4,288,000 4.682% (15) Class B6 $2,451,068 4.682% (15) Class R $100 4.896% (16) Class 1B4 $ 1,467,000 3.332% (17) Class 1B5 $ 815,000 3.332% (17) Class 1B6 $ 2,118,829 3.332% (17) Class 2B1 $ 12,673,000 4.715% (18) Class 2B2 $ 6,507,000 4.715% (18) Class 2B3 $ 3,082,000 4.715% (18) Class 2B4 $ 2,055,000 4.715% (18) Class 2B5 $ 1,370,000 4.715% (18) Class 2B6 $ 2,397,982 4.715% (18) Class R $ 100 4.855% (19) (1) For each Distribution Date, the Certificate Rate for the Class 1A1 and Certificates will equal a per annum rate equal to the Net WAC Rate for Loan Group 1. (2) For each Distribution Date on or prior to the Distribution Date in June 2007, the Certificate Rate for the Class 1A2 Certificates will equal a per annum rate equal to the lesser of (a) one-month LIBOR plus 0.343.970% and (b) the Net WAC Rate for Loan Group 1. The REMIC regular interests evidenced by For each of Distribution Date after the Class 1A1 and Distribution Date in June 2007, the Certificate Rate for the Class 1A2 Certificates shall bear interest at will equal a maximum interest per annum rate equal to the Net WAC Rate for Loan Group 1. Any Net WAC Shortfall payable to a Class 1A1 or Class 1A2 Certificate shall be treated as being payable pursuant to the contractual rights described in Section 11.01(j) of the Standard Terms.

Appears in 1 contract

Samples: Trust Agreement (GSR Mortgage Loan Trust 2004-11)

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