Class M-2 Interest definition

Class M-2 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 II for purposes of the REMIC Provisions.
Sample 1Sample 2
Class M-2 Interest. Rate: With respect to any Payment Date, the least of:
Sample 1
Class M-2 Interest. A regular interest in REMIC 2 that has an initial principal balance of $6,084,000 as of the Cut-off Date and bears interest at a per annum rate equal to the lesser of (i) the Class M-2 Pass-Through Rate and (ii) the Weighted Average Net Mortgage Rate. Ownership of the Class M-2 Interest is evidenced by the Class M-2 Certificates.
Sample 1

Examples of Class M-2 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.

  • Unpaid Class M-2 Interest Shortfall 0.00 0 -------------- -------------- B.

  • Unpaid Class M-2 Interest Shortfall 0.00 --------------- (5) Remaining: a.

  • Unpaid Class M-2 Interest Shortfall 0.00 ------------- (5) Remaining: a.

  • If a Distribution Switch Event occurs, all Senior Class M-2 Interest Amounts, Subordinated Class M-2 Interest Amounts, Senior Class M-3 Interest Amounts or Subordinated Class M-3 Interest Amounts required to be determined thereafter shall be deemed to be zero, which will reduce the payments to which the Class M-2 Subordinated Noteholders and the Class M-3 Subordinated Noteholders are entitled.

  • Current Interest (a) Class M-2 Pass-through Rate 7.30% (b) Class M-2 Interest 34,218.75 26.

  • Conveyance of the Class M-2 Interest; Acceptance of REMIC III by the Trustee......................................62 SECTION 2.10.

  • The Senior Class M-2 Interest Amounts and Subordinated Class M-2 Interest Amounts may be deferred or waived at the election of all of the Class M-2 Subordinated Noteholders and, in respect of a deferral, will not earn interest.

  • Interest on Class M-2 Adjusted Principal Balance 199,250.00 ------------- (2) Amount applied to Class M-2 Interest Deficiency Amount 0.00 ------------- (3) Remaining unpaid Class M-2 Interest Deficiency Amount 0.00 ------------- (4) Amount applied to: a.

  • For its duration, the Class M-2 Interest Rate Cap pays the Trust the product of (i) the difference between the then current 1-month LIBOR rate (not to exceed the cap ceiling) and the cap strike (on an actual/360 day count basis) and (ii) the Class M-2 Interest Rate Cap Notional Balance (the "Class M-2 Interest Rate Cap Payment") as described on the schedule herein.


More Definitions of Class M-2 Interest

Class M-2 Interest. An uncertificated interest in REMIC 2 held by the Trustee on behalf of the holders of the Class M-2 Certificates and representing a regular interest in REMIC 2.
Sample 1

Related to Class M-2 Interest

  • Class M-2 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-2 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-2 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-2 Pass-Through Rate for the related Accrual Period.

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-2 Certificates.

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-1 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-1 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-1 Certificates.

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

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

  • Class M-4 Pass-Through Rate For the first Distribution Date, 4.790% per annum, and for any Distribution Date thereafter, the lesser of (i) One-Month LIBOR for the related Accrual Period plus the Class M-4 Margin for such Distribution Date and (ii) the Interest Rate Cap for such Distribution Date.

  • Class M-2 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.900% per annum and, for any Distribution Date after the Optional Termination Date, 1.350% per annum.

  • Class M-1 Margin For any Distribution Date (i) on or prior to the Optional Termination Date, 0.700% per annum and (ii) thereafter, 1.050% per annum.

  • Class M-7 Certificate Any one of the Class M-7 Certificates executed and authenticated by the Securities Administrator 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 M-4 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.520% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.780% per annum.

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

  • Class M-6 Certificate Any one of the Class M-6 Certificates executed and authenticated by the Securities Administrator 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 M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.

  • Class M-3 Certificate Any one of the Class M-3 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-5 Pass-Through Rate For the first Distribution Date, 5.7700% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-5 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-6 Certificates All Certificates bearing the class designation of "Class M-6".

  • Class M-2 Certificates All Certificates bearing the class designation of "Class M-2".

  • Class M-4 Certificate Any one of the Class M-4 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

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

  • Class M-3 Certificates All Certificates bearing the class designation of "Class M-3".

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

  • Class M-8 Certificate Any one of the Class M-8 Certificates executed and authenticated by the Securities Administrator 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 M-5 Certificate Any one of the Class M-5 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-4 Certificates All Certificates bearing the class designation of "Class M-4".

  • Class M-10 Certificate Any one of the Class M-10 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-M-10 and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive the Net WAC Rate Carryover Amount and (iii) the obligation to pay the Class IO Distribution Amount.