Class E Distributable Amount definition

Class E Distributable Amount. With respect to each Distribution Date, interest received on each Employee Mortgage Loan with respect to which the mortgagor has ceased to be eligible for the Employee Discount Rate, at a per annum rate equal to 0.25%.
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Class E Distributable Amount. Not applicable.
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Class E Distributable Amount. With respect to each Distribution Date, interest received on each Employee Mortgage Loan with respect to which the mortgagor has ceased to be eligible for the Employee Discount Rate, as reported by the Master Servicer to the Trustee, at a per annum rate equal to 0.25%. Class M Certificates: Collectively, the Class M1, Class M1-IO, Class M2 and Class M2-IO Certificates.
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Examples of Class E Distributable Amount in a sentence

  • The Class E Certificate executed by the Trustee and authenticated by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A, evidencing beneficial ownership of the Class E Distributable Amount.

  • It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount payable to Class P Certificates and the segregated pool of assets consisting of any collection in respect of the Class E Distributable Amount payable to the Class E Certificates each constitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2).

  • REMIC I shall hold as assets all property of the Trust Fund other than the Interests in REMIC I and REMIC II, the Class P Distributable Amount, which is beneficially owned by the holder of the Class P Certificate, and the Class E Distributable Amount, which is beneficially owned by the holder of the Class E Certificate.

  • It is the intent of the parties hereto that the segregated pool of assets consisting of any collection in respect of the Class E Distributable Amount payable to the Class E Certificates constitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2).

  • As provided herein, the Trustee shall elect that the Trust Fund, other than the Class E Distributable Amount and Class P Distributable Amount, be treated for federal income tax purposes as a real estate mortgage investment conduit (a “REMIC”).

  • REMIC I shall hold as assets all property of the Trust Fund other than the Interests in REMIC I, the Class P Distributable Amount, which is beneficially owned by the holder of the Class P Certificate, and the Class E Distributable Amount, which is beneficially owned by the holder of the Class E Certificate.

  • REMIC I shall hold as assets all property of the Trust Fund other than the Interests in any REMIC formed hereby, the Class P Distributable Amount, which is beneficially owned by the holder of the Class P Certificate and the Class E Distributable Amount, which is beneficially owned by the holder of the Class E Certificate.

  • REMIC I shall hold as assets all property of the Trust Fund other than the Interests in REMIC I, the Class P Distributable Amount, which is beneficially owned by the holder of the Class P Certificate, the Class E Distributable Amount, which is beneficially owned by the holder of the Class E Certificate, and the Class A4 Reserve Fund and the Rounding Account.

  • REMIC I shall hold as assets all property of the Trust Fund other than the Interests in REMIC I, the Class P Distributable Amount, which is beneficially owned by the holder of the Class P Certificate, the Class E Distributable Amount, which is beneficially owned by the holder of the Class E Certificate.

  • On each Distribution Date, the Trustee shall distribute to the Holders of the Class P Certificate the Class P Distributable Amount for such date and the Class E Distributable Amount for such date shall be distributed to the holder of the Class E Certificates.