Class AV-2 Certificates definition

Class AV-2 Certificates. Any Certificate designated as a "Class AV-2 Certificate" on the face thereof, in the form of Exhibit A hereto, representing the right to distributions as set forth herein.

Class AV-2 Certificates. Any one of the Class AV-2 Certificates executed, authenticated and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

Class AV-2 Certificates. The First NLC Trust 2005-2 Mortgage-Backed Certificates, Series 2005-2, Class AV-2 Certificates having an initial Certificate Principal Balance and Pass-Through Rate as set forth herein and representing a Regular Interest in REMIC III.

Examples of Class AV-2 Certificates in a sentence

• Each Owner of record of a Class AV-2 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-2 Certificates.

• The Percentage Interest of each Class AV-2 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-2 Certificate on the Startup Day by the aggregate Certificate Principal Balance of the Class AV-2 Certificates on the Startup Day.

• 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-2 Certificates over the period from the date of initial issuance of the Certificates to the Final Scheduled Distribution Date for the Class AV-2 Certificates.

• As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, Class AV-2 Certificates are exchangeable for new Class AV-2 Certificates of authorized denominations evidencing the same aggregate principal amount.

• The Class AV-2 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 Class AV-2 Certificates are backed primarily by the cash flow from the Group II-B Mortgage Loans (as defined herein).

• 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-2 Certificates as of the Issue Date) in that certain beneficial ownership interest evidenced by all the Class AV-2 Certificates created pursuant to a Pooling and Servicing Agreement, dated as specified above (the "Agreement"), among Argent Securities Inc.

• The margin on the Class AV-1A, AV-1B and Class AV-2 Certificates will double after the Optional Termination may be first exercised.

• Any payments received from the Class AV-2 Yield Maintenance Agreement will be deposited in the Reserve Fund for the benefit of the Class AV-2 Certificates to pay any related unpaid Net WAC Cap Carryover Amounts to the extent not covered by Available Funds.

• Class AV-2 Yield Maintenance Agreement: On the Closing Date, the Trustee will enter into a yield maintenance agreement with a counterparty (the "COUNTERPARTY") for the benefit of the Class AV-2 Certificates (the "CLASS AV-2 YIELD MAINTENANCE AGREEMENT").

More Definitions of Class AV-2 Certificates

Class AV-2 Certificates. All Certificates bearing the Class designation of "Class AV-2."