Class M-9 Interest definition

Class M-9 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class M-9 Certificates, evidencing a Regular Interest in REMIC 2 for purposes of the REMIC Provisions.
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Examples of Class M-9 Interest in a sentence

  • The Class M-9 Interest Reserve Fund constitutes an "outside reserve fund" within the meaning of Treasury Regulation ss.

  • REMIC 1 ------- As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Trust Fund (exclusive of the Basis Risk Shortfall Reserve Fund, the Class M-9 Interest Reserve Fund and, for the avoidance of doubt, the Supplemental Interest Trust and the Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 1".

  • The Trustee acknowledges receipt of the Class M-9 Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class M-9 Certificates and the Class R-X Certificates, in respect of the Class R-IV Interest, and REMIC IV (as holder of the Class M-9 Certificates).

  • The Securities Administrator shall keep records that accurately reflect the funds on deposit in the Class M-9 Interest Reserve Fund.

  • The Holders of the Class C Certificates shall be the beneficial owner of the Class M-9 Interest Reserve Fund, subject to the power of the Securities Administrator to transfer amounts under this Agreement.

  • The Class M-9 Interest in REMIC II shall constitute the assets of REMIC M-9.

  • The Trustee shall not permit the creation of any "interests" in any Trust REMIC (within the meaning of Section 860G of the Code) other than the REMIC I Regular Interests, the Class M-8 Interest, the Class M-9 Interest, the Class M-10 Interest, the Class M-11 Interest, the Class M-12 Interest, the Class CE Interest and the Class P Interest and the interests represented by the Certificates.

  • Any funds remaining in the Class M-9 Interest Reserve Fund following the payment in full of the Class M-9 Certificates shall be paid to the holders of the Class C Certificates.

  • Conveyance of the Class M-9 Interest; Acceptance of REMIC IV by the Trustee...............................76 Section 2.11.

  • Acceptance of REMIC 1 and REMIC 2 by the Trustee; Conveyance of REMIC I Regular Interests and Class M-7 Interest, Class M-8 Interest, Class M-9 Interest and Class B Interest; Issuance of Certificates.......................................69 ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01.

Related to Class M-9 Interest

  • Class M-9 Certificate Any one of the Class M-9 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-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-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-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-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-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-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-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 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-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-6 Certificates All Certificates bearing the class designation of "Class M-6".

  • 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.

  • Class M-4 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-4 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

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

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

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

  • Class M-5 Certificates All Certificates bearing the class designation of "Class M-5".

  • 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 PERCENTAGE As of any Distribution Date, the percentage obtained by dividing the Class M Principal Balance by the Mortgage Pool Principal Balance, but not more than 100%; provided, however, that on any Distribution Date on which the Class B Percentage equals 0%, the Class M Percentage shall equal 100% minus the Class A Percentage.

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

  • Class M Notes The Class M-1, Class M-2 and Class M-3 Notes.

  • Class M-1 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.650% per annum and, for any Distribution Date after the Optional Termination Date, 0.975% per annum.

  • CLASS M PRINCIPAL BALANCE As of any Distribution Date, (a) the Class M Principal Balance for the immediately preceding Distribution Date less (b) amounts distributed to the Class M Certificateholders on such preceding Distribution Date allocable to principal (including the principal portion of Advances of the Servicer made pursuant to Section 6.03 and Realized Losses allocated to the Class M Certificates pursuant to Section 6.04); provided that the Class M Principal Balance on the first Distribution Date shall be the Original Class M Principal Balance, and provided further that if the aggregate Outstanding Certificate Principal Balance of the Class B Certificates has been reduced to zero, as of any Distribution Date, the Class M Principal Balance will equal the excess of the Mortgage Pool Principal Balance (together with the portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the Class A Principal Balance.

  • 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.