Class AV-1 Certificates definition
Examples of Class AV-1 Certificates in a sentence
The Owner hereof is entitled to principal payments on each Distribution Date, as hereinafter described, which will fully amortize such original Certificate Principal Balance of the Class AV-1 Certificates over the period from the date of initial issuance of the Certificates to the Final Scheduled Distribution Date for the Class AV-1 Certificates.
Each Owner of record of a Class AV-1 Certificate will be entitled to receive such Owner’s Percentage Interest in the amounts due on such Distribution Date to the Owners of the Class AV-1 Certificates.
As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, Class AV-1 Certificates are exchangeable for new Class AV-1 Certificates of authorized denominations evidencing the same aggregate principal amount.
The Percentage Interest of each Class AV-1 Certificate as of any date of determination will be equal to the percentage obtained by dividing the original Certificate Principal Balance of such Class AV-1 Certificate on the Startup Day by the aggregate Certificate Principal Balance of the Class AV-1 Certificates on the Startup Day.
This certifies that Cede & Co. is the registered owner of a Percentage Interest (obtained by dividing the denomination of this Certificate by the aggregate Certificate Principal Balance of the Class AV-1 Certificates as of the Issue Date) in that certain beneficial ownership interest evidenced by all the Class AV-1 Certificates created pursuant to a Pooling and Servicing Agreement, dated as specified above (the "Agreement"), among Argent Securities Inc.
The Class AV-1 Certificates are issuable only as registered Certificates in minimum denominations of $25,000 original Certificate Principal Balance and in integral multiples of $1,000 in excess of $25,000.
The Depositor hereby directs the Trustee to enter into and execute the Yield Maintenance Agreement on the Closing Date on behalf of the Holders of the Class AV-1 Certificates.
The Sellers, the Depositor, the Servicer and the Holders of the Class AV-1 Certificates (by their acceptance of such Certificates) acknowledge that JPMorgan Chase Bank is entering into the Yield Maintenance Agreement solely in its capacity as Trustee of the Trust Fund and not in its individual capacity.
The amount required to be deposited into the Net WAC Cap Account on any Distribution Date will equal the aggregate Net WAC Cap Deposit Amount for the Class AF-1 and Class AV-1 Certificates.
LIBOR Determination Date ------------------------ With respect to any Interest Accrual Period for the Class AF-1 and Class AV-1 Certificates, the second London business day preceding the commencement of such Interest Accrual Period.