Group 1 MBS definition

Group 1 MBS. The MBS identified as such on the Mortgage Security Schedule.

Group 1 MBS. The MBS identified as such on the Mortgage Security Schedule. Group 1 Distribution Amount: As to any Distribution Date, the sum of (i) the Group 1 Principal Distribution Amount and (ii) all interests accrued with respect to the Group 1 Certificates during the preceding Interest Accrual Period.

Group 1 MBS. The Mortgage-Backed Securities underlying the Group 1 Classes.

Examples of Group 1 MBS in a sentence

• Xxxxxx Mae, acting in its corporate capacity, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for Lower Tier REMIC I established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Group 1 MBS and Group 2 SMBS identified in Exhibit A hereto, including all payments of principal and interest thereon received after the month of the Issue Date.

• The Trustee will deposit all Security Distributions on the Mortgaged-Backed Securities (other than the Group 1 MBS) received by it hereunder into the Certificate Account.

• The assets of the Lower Tier REMIC will consist of two groups of Fannie Mae Guaranteed Mortgage Pass-Through Certificates (the ""Group 1 MBS'' and ""Group 2 MBS'' and, together, the ""MBS'').

• In addition, for federal income tax purposes, the remaining portion of the Trust, including the Group 1 MBS and all proceeds thereof and the Grantor Trust Account and all amounts held therein or credited thereto, will be treated as a grantor trust under Subpart E, Part I of Subchapter J of the Code and not as an association taxable as a corporation.

• Xxxxxx Mae shall deposit in the Certificate Account all Security Distributions with respect to the Group 1 MBS and Group 2 SMBS received by it as Trustee hereunder.

• HThe ""Group 1 Principal Distribution Amount'' is the principal then paid on the Group 1 MBS.

• Xxxxxx Mae shall deposit (i) in the Lower Tier REMIC 1 Account all Security Distributions attributable to the Group 1 MBS, Group 3 SMBS and Group 5 SMBS and (ii) in the Lower Tier REMIC 2 Account all Security Distributions attributable to the Group 2 SMBS.

• H ClassesThe ""ZA Accrual Amount'' is any interest then accrued and added to the principal balance of the ZA Class.The ""Group 1 Cash Flow Distribution Amount'' is the principal then paid on the Group 1 MBS.

• H The ""Group 1 Principal Distribution Amount'' is the principal then paid on the Group 1 MBS.

• Xxxxxx Mae, acting in its capacity as Trustee for the Base Trust established hereby, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for Lower Tier REMIC 1 established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Group 1 MBS, Group 3 SMBS and Group 5 SMBS identified in Exhibit A-1 hereto, including all payments of principal and interest thereon received after the month of the Issue Date.

More Definitions of Group 1 MBS

Group 1 MBS. The Xxxxxx Xxx Securities identified as such in the Xxxxxx Mae Security Schedule.

Group 1 MBS. As specified in the Prospectus Supplement.

Group 1 MBS. Group 2 MBS or Group 3 MBS: Each, as specified in the

Group 1 MBS. The Trust MBS identified as such in the Xxxxxx Mae Security Schedule.

Group 1 MBS. The MBS identified as such in the Xxxxxx Xxx Security Schedule.