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. 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.

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.

Examples of Excess Interest Certificates in a sentence

Following the distribution of Excess Interest to the Holders of the Excess Interest Certificates and the Excess Interest Uncertificated Interests 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.

Excess Interest Certificates. Any Trust Certificates issued under this Agreement that are designated as evidencing an interest in the Excess Interest. The Class S Certificates are 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

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.

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.

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