Excess Interest Certificates definition

Excess Interest Certificates. Any class of commercial mortgage pass-through certificates issued under this Agreement that are designated as evidencing an interest in the Excess Interest. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Excess Interest Certificates issued under this Agreement.
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Excess Interest Certificates. Any class of commercial mortgage pass-through certificates issued under this Agreement that are designated as evidencing an interest in the Excess Interest. If there is Excess Interest, the Class S Certificates and the Class VRR Certificates shall be the only Classes of Excess Interest Certificates issued under this Agreement. Because the Trust Fund will not include ARD Mortgage Loans as of the Closing Date, there will be no Excess Interest. Accordingly, there will be no Excess Interest Certificates and all references to “Excess Interest Certificate” and “Excess Interest Certificates” shall be disregarded.
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Excess Interest Certificates. Any class of commercial mortgage pass-through certificates issued under this Agreement that are designated as evidencing an interest in the Excess Interest Grantor Trust Assets. There are no Excess Interest Grantor Trust Assets in the Trust Fund, and, accordingly, no Excess Interest Certificates shall be designated or issued, and all references in this Agreement to “Excess Interest Certificates” shall be disregarded.
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Examples of Excess Interest Certificates in a sentence

  • Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • If there are any ARD Mortgage Loans in the Trust Fund, then following the distribution of Excess Interest to the Holders of the Excess Interest Certificates on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates and the Uncertificated VRR Interest Owner on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • If there are any ARD Mortgage Loans in the Trust Fund, then the Certificate Administrator shall execute and cause to be authenticated and delivered to and upon the order of the Depositor, the Excess Interest Certificates in exchange for any Excess Interest.

  • The Certificate Administrator shall execute and cause to be authenticated and delivered to and upon the order of the Depositor, the Excess Interest Certificates in exchange for the Excess Interest.

  • Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates and the Combined VRR Interest Owner on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates and the Uncertificated VRR Interest Owners on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates and the Combined Uncertificated VRR Interest Owner on the first Distribution Date after which there are no longer any ARD Mortgage Loans outstanding, the Certificate Administrator may terminate the Excess Interest Distribution Account.

  • If there are any ARD Mortgage Loans in the Trust Fund, then the Certificate Administrator shall execute and cause to be authenticated and delivered to and upon the order of the Depositor, the Excess Interest Certificates in exchange for the Excess Interest.

  • Borrower shall not take any actions that would prohibit the Excess Interest Certificates from being eligible for sale under Rule 144A as promulgated under the Securities Act of 1933, as amended.


More Definitions of Excess Interest Certificates

Excess Interest Certificates. Any class of commercial mortgage pass-through certificates issued under this Agreement that are designated as evidencing an interest in the Excess
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Excess Interest Certificates means with respect to a series of HOME Asset Backed Bonds (the "BONDS") the Certificated Securities issued by HOME SECURITIZATION TRUST I (THE "TRUST") which qualify under Rule 144A of the Securities Act of 1933 and represent (a) the right to monthly interest payments which are attributable to the difference between the interest rate paid on such series of Bonds, including without limitation, Series 1997-1 Bonds and the interest rate paid on the FNMA Securities that have been pledged to back such series of Bonds and the related Excess Interest Certificates, and (b) the right to any remaining principal and interest from the FNMA Securities for such series of Bonds after the payment in full of such series of Bonds. A further description of such Excess Interest Certificates shall be set forth in a pro forma Excess Interest Certificate and the private placement memorandum relating to the private sale of such Excess Interest Certificates which shall be attached to the related Advance Request and which shall also be provided to Bank five (5) Business Days prior to such requested Advance.
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Excess Interest Certificates means with respect to a series of HOME Asset Backed Bonds (the "BONDS") the Certificated Securities issued by HOME SECURITIZATION TRUST I (the "TRUST") which qualify under Rule 144A of the Securities Act of 1933 and which represent (a) the right to monthly interest payments which are attributable to the difference between the interest rate paid on such series of Bonds, including without limitation, Series 1997-1 Bonds and the interest rate paid on the FNMA Securities that have been pledged to back such series of Bonds and the related Excess Interest Certificates, and (b) the right to any remaining principal and interest from the FNMA Securities for such series of Bonds after the payment in full of such series of Bonds. A further description of such Excess Interest Certificates shall be set forth in a pro forma Excess Interest Certificate and the private placement memorandum relating to the private sale of such Excess Interest Certificates is attached to the related Advance Request in connection with the Working Capital Line.
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Related to Excess Interest Certificates

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

  • Class R Certificates All Certificates bearing the class designation of "Class R".

  • Residual Certificates As specified in the Preliminary Statement.

  • REMIC I Certificates The Class R-I Certificates.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • REMIC II Certificates The REMIC II Regular Certificates and the Class R-II Certificates.

  • Class P Certificates All Certificates bearing the class designation of "Class P".

  • COFI Certificates As specified in the Preliminary Statement.

  • REMIC III CERTIFICATES has the meaning set forth in the final paragraph of the Preliminary Statement hereto.

  • Corresponding Classes of Certificates With respect to each REMIC Regular Interest, any Class of Certificates appearing opposite such REMIC Regular Interest in Section 1.03 hereof.

  • Class R-1 Certificate Any Certificate designated a “Class R-1 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC I and representing the right to the Percentage Interest of distributions provided for the Class R-1 Certificates as set forth herein.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Group I Certificates The Class A-1 Certificates.

  • Underlying REMIC Certificates The REMIC Certificates held in the Trust and evidencing beneficial interests in the REMIC Trust. US Bank: U.S. Bank National Association, a national banking association.

  • Accrual Certificates As specified in the Preliminary Statement.

  • Class A-V Certificate Any one of the Certificates designated as a Class A-V Certificate, including any Subclass thereof.

  • Class R-X Certificate Any one of the Class R-X Certificates executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-R-X and evidencing the ownership of the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest.

  • Investor Certificates means the Class A Certificates, the Class B Certificates and the Collateral Interest.

  • Group III Certificates The Group III-A Certificates.

  • Class X Certificates All Certificates bearing the class designation of "Class X".

  • Class J Certificate means any one of the Certificates with a "Class J" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

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

  • Class R-III Certificate Any one of the Class R-III Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC III for purposes of the REMIC Provisions.