Class 2A1 Certificates definition

Class 2A1 Certificates. All Certificates bearing the class designation of "Class 2A1."

Class 2A1 Certificates. Any one of the Class 2A1 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 and evidencing a REMIC Regular Interest in REMIC 3.

Examples of Class 2A1 Certificates in a sentence

• Notwithstanding the foregoing, on any Distribution Date in which the Class 2-A-1 Loss Amount exceeds the Class Certificate Balance of the Class 2-A-2 Certificates prior to any reduction for the Class 2-A-2 Loss Allocation Amount, such excess will be distributed in reduction of the Class Certificate Balance of the Class 2-A-1 Certificates.

• Any increase in the Class Certificate Balance allocated to the Class 2-A-1 Certificates pursuant to Section 5.03(b) will instead increase the Class Certificate Balance of the Class 2-A-2 Certificates.

• After the Senior Credit Support Depletion Date, on any Distribution Date on which the Class 2-A-2 Loss Allocation Amount is greater than zero, the Class Certificate Balance of the Class 2-A-2 Certificates will be reduced by the Class 2-A-2 Loss Allocation Amount and, notwithstanding Section 5.03(b), the Class Certificate Balance of the Class 2-A-1 Certificates will not be reduced by the Class 2-A-2 Loss Allocation Amount.

• Principal distributions to the Class 2A Supersenior Certificates pursuant to this Section 4.01(a)(ii)(A)(b)(ii) shall be allocated sequentially to the Class 2A1 Certificates and 2A2 Component, in that order, until their respective Class Certificate Balances have been reduced to zero.

• After the Senior Credit Support Depletion Date for Group 2, on any Distribution Date on which the Class 2-A-2 Loss Allocation Amount is greater than zero, the Class Certificate Balance of the Class 2-A-2 Certificates will be reduced by the Class 2-A-2 Loss Allocation Amount and, notwithstanding Section 5.03(b), the Class Certificate Balance of the Class 2-A-1 Certificates will not be reduced by the Class 2-A-2 Loss Allocation Amount.

• The Pass-Through Rate for each Class of LIBOR Certificates shall be determined on the basis of LIBOR and the respective formulae appearing in footnotes corresponding to the LIBOR Certificates in the table relating to the Certificates in the Preliminary Statement while the Pass-Through Rate for the Class 2A1 Certificates shall be determined on the basis of the Effective Federal Funds Rate and the formula appearing in the footnote corresponding to the Class 2A1 Certificates.

• After the Senior Credit Support Depletion Date, on any Distribution Date on which the Class 2-A-2 Loss Allocation Amount is greater than zero, the Class Certificate Balance of the Class 2-A-2 Certificates will be reduced by the Class 2-A-2 Loss Allocation Amount and, notwithstanding Section 5.03(b), the Class Certificate Balances of the Class 2-A-1 Certificates will not be reduced by the Class 2-A-2 Loss Allocation Amount.

• Thus, the Class 2-A-1 Certificates shall be treated as representing ownership of not only a Master REMIC regular interest, but also ownership of an interest in an interest rate cap contract.

• For each Distribution Date the Certificate Rate for the Class 2AX Certificates will equal a per annum rate equal to the excess, if any, of (a) the Net WAC Rate for Loan Group 2 over (b) the Certificate Rate for the Class 2A1 Certificates.

• Any remaining amounts will remain in the Supplemental Interest Reserve Fund for future distributions to the Class 2-A-1 Certificates.