Class B-1 Interest definition

Class B-1 Interest. The Upper-Tier Regular Interest held by the Class B-1 REMIC as specified and described in the Preliminary Statement and the related footnote thereto.
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Class B-1 Interest. An uncertificated interest in REMIC 2 held by the Trustee on behalf of the holders of the Class B-1 Certificates and representing a regular interest in REMIC 2.
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Class B-1 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class B-1 Certificates, evidencing a Regular Interest in REMIC 2 for purposes of the REMIC Provisions.
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Examples of Class B-1 Interest in a sentence

  • If the applicable Monthly Report indicates that there is a Class M-1 Interest Deficiency Amount, a Class M-2 Interest Deficiency Amount and/or a Class B-1 Interest Deficiency Amount, the Servicer shall promptly notify the Trustee, by telephone, of the aggregate amount of such Class M-1 Interest Deficiency Amount, Class M-2 Interest Deficiency Amount and Class B-1 Interest Deficiency Amount.

  • Amounts payable to the Class B-1 Certificates (other than any Basis Risk Carry Forward Amounts) shall be deemed paid from the Upper Tier REMIC in respect of the Class B-1 Interest to the Class B-1 REMIC as holder of the Class B-1 Interest.

  • If the Servicer determines that the total amount of funds in the Certificate Account so reported by the Trustee (after giving effect to the withdrawal of the Available Funds for the related Remittance Date) will not be sufficient to pay in full of the Class M-1 Interest Deficiency Amount, if any, and Class B-1 Interest Deficiency Amount, the Servicer shall promptly notify the Trustee, by telephone, of the remaining deficiency.

  • If the Servicer determines that the total amount of funds in the Certificate Account so reported by the Trustee (after giving effect to the withdrawal of the Available Funds for the related Remittance Date) will be sufficient to pay in full the Class M-1 Interest Deficiency Amount, if any, and the Class B-1 Interest Deficiency Amount, the Servicer shall so indicate on the Monthly Report.

  • The Trustee acknowledges receipt of the Class B-1 Interest (which is uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the Class B-1 Certificates.

  • The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the Class B-1 Interest for the benefit of the holders of the Class B-1 Certificates.

  • Class M-1 Interest Deficiency Amount (if any) and Class B-1 Interest Deficiency Amount (if any) withdrawn for prior Remittance Date 0.00 --------------- c.

  • As to any Payment Date, the Senior Interest Shortfall, the Class B-1 Interest Carryover Shortfall or the Class B-2 Interest Carryover Shortfall, as applicable.

  • As to any Payment Date, an amount equal to the sum of (i) the Senior Interest Payment Amount, (ii) the Senior Principal Payment Amount, (iii) the Class B-1 Interest Payment Amount, (iv) the Class B-1 Principal Payment Amount, (v) the Class B-2 Interest Payment Amount and (vi) the Class B-2 Principal Payment Amount.

  • As to any Payment Date, the sum of (i) interest at the Class B-1 Bond Interest Rate on the Class B-1 Principal Amount, (ii) interest at the Class B-1 Bond Interest Rate on any Class B-1 Principal Carryover Shortfall, (iii) the Class B-1 Interest Carryover Shortfall and (iv) interest at the Class B-1 Bond Interest Rate on any Class B-1 Interest Carryover Shortfall.


More Definitions of Class B-1 Interest

Class B-1 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class B-1 Certificates, evidencing a Regular Interest in REMIC 2 for purposes of the REMIC Provisions. The “Class B-1 Principal Distribution Amount “ is an amount equal to the excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the distribution of the Senior Principal Distribution Amount on such Distribution Date), (ii) the Certificate Principal Balance of the Class M-1 Certificates (after taking into account the distribution of the Class M-1 Principal Distribution Amount on such Distribution Date), (iii) the Certificate Principal Balance of the Class M-2 Certificates (after taking into account the distribution of the Class M-2 Principal Distribution Amount on such Distribution Date), (iv) the Certificate Principal Balance of the Class M-3 Certificates (after taking into account the distribution of the Class M-3 Principal Distribution Amount on such Distribution Date), (v) the Certificate Principal Balance of the Class M-4 Certificates (after taking into account the distribution of the Class M-4 Principal Distribution Amount on such Distribution Date), (vi) the Certificate Principal Balance of the Class M-5 Certificates (after taking into account the distribution of the Class M-5 Principal Distribution Amount on such Distribution Date), (vii) the Certificate Principal Balance of the Class M-6 Certificates (after taking into account the distribution of the Class M-6 Principal Distribution Amount on such Distribution Date), (viii) the Certificate Principal Balance of the Class M-7 Certificates (after taking into account the distribution of the Class M-7 Principal Distribution Amount on such Distribution Date), (ix) the Certificate Principal Balance of the Class M-8 Certificates (after taking into account the distribution of the Class M-8 Principal Distribution Amount on such Distribution Date), (x) the Certificate Principal Balance of the Class M-9 Certificates (after taking into account the distribution of the Class M-9 Principal Distribution Amount on such Distribution Date) and (xi) the Certificate Principal Balance of the Class B-1 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 94.80% and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payme...
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Class B-1 Interest. Rate The Class B-1 Interest Rate Cap Payment shall be available to pay any Class B-1 Net Cap Payment Allocation: WAC Shortfall due to the Class B-1 Certificates. Class B-2 Interest Rate Beginning on the first Distribution Date, and for a period of 185 months thereafter, an Cap: Interest Rate Cap will be entered into by the Trust for the benefit of the Class B-2 Certificates. For its duration, the Class B-2 Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on a 30/360 day count basis), (ii) the Class B-2 Interest Rate Cap Notional Balance as described on the schedule herein and (iii) 100 ("the Class B-2 Interest Rate Cap Payment"). ------------------------------------------------------------------------------ The information herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the information herein, or that any future offer of securities, instruments or transactions will conform to the terms hereof. Please refer to the important information and qualifications on the second page hereof when reviewing this information. ------------------------------------------------------------------------------ Page 5 ------------------------------------------------------------------------------ MORGAN STANLEY March 23, 2005 Securitized Products Group Morgan Stanley ------------------------------------------------------------------------------
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Class B-1 Interest shall have the meaning set forth in Section 1.8(b), which shall initially be issued solely to the KELP.
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Class B-1 Interest means an Interest designated as a Class B-1 Interest and having such rights, preferences and obligations as specified with respect to Class B-1 Interests in this Agreement.
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Class B-1 Interest. As defined in the Preliminary Statement.
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Related to Class B-1 Interest

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class B-1 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-1 and Exhibit C hereto. Class B-1 Certificateholder: The registered holder of a Class B-1 Certificate.

  • Class B-1 Principal Balance As to the first Determination Date, the Original Class B-1 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-1 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-1 Certificates on prior Distribution Dates (A) pursuant to Paragraph seventh of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-1 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance as of such Determination Date.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class B-1 Certificates All Certificates bearing the class designation of "Class B-1".

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class B-1 Percentage As to any Distribution Date, the percentage calculated by multiplying the Subordinated Percentage by either (i) if any Class B Certificates (other than the Class B-1 Certificates) are eligible to receive principal distributions for such Distribution Date in accordance with Section 4.01(d), a fraction, the numerator of which is the Class B-1 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d) or (ii) except as set forth in Section 4.01(d)(ii), in the event that the Class B Certificates (other than the Class B-1 Certificates) are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), one.

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class B-3 Principal Balance As to the first Determination Date, the Original Class B-3 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-3 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-3 Certificates on prior Distribution Dates (A) pursuant to Paragraph thirteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-3 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance and the Class B-2 Principal Balance as of such Determination Date.

  • Original Class B-3 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-4 Principal Balance, the Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-3 Fractional Interest is specified in Section 11.18.

  • Class B Interests As set forth in the Trust Agreement.

  • Original Class B-1 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-2 Principal Balance, the Original Class B-3 Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-1 Fractional Interest is specified in Section 11.16.

  • Class B-3 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-3 and Exhibit C hereto. Class B-3 Certificateholder: The registered holder of a Class B-3 Certificate.

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.3300% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.