Group 1 Senior definition

Group 1 Senior. PERCENTAGE: Initially, 98.00%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amount of the Group 1 Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group 1 Mortgage Loans as of the beginning of the related Due Period.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Group 1 Senior. Certificates: Class 1-A-1, Class 1-A-2 and Class 1-A-R Certificates.

Group 1 Senior. Certificates: Class 1-CB-1, Class 1-CB-2, Class 1-CB-3, Class 1-CB-4, Class 1-CB-5, Class 1-CB-6, Class 1-CB-7 and Class 1-CB-R Certificates.

Examples of Group 1 Senior in a sentence

• Group 1 Senior Certificates and the portions of the Subordinated Certificates related to Loan Group 1.

• If on any Distribution Date the allocation to the Group 1-A or Group 2-A Certificates of Principal Prepayments in the percentage required would reduce the aggregate Class Principal Balance of such Certificates below zero, the Group 1 Senior Prepayment Percentage or the Group 2 Senior Prepayment Percentage, as applicable, for such Distribution Date shall be limited to the percentage necessary to reduce such aggregate Class Principal Balance to zero.

• Any of the Group 1 Senior Net Funds Cap, the Group 2 Senior Net Funds Cap or the Subordinate Net Funds Cap, as applicable.

• If the proceeds with respect to the Group 1 Mortgage Loans are not sufficient to pay all of the Group 1 Certificates in full, any such deficiency will be allocated first, to the Subordinate Certificates, in inverse order of their numerical designation, and then to the Group 1 Senior Certificates on a pro rata basis.

• Any payments of principal to the Group 1 Senior Certificates will first be made from payments relating to the Group 1 Mortgage Loans and any payments of principal to the Group 2 Senior Certificates will first be made from payments relating to the Group 2 Mortgage Loans.

• The Loan Group 1 Senior Certificates or the Loan Group 2 Senior Certificates, as applicable.

• Group 1 Senior Certificates and the portions of the Subordinated Certificates related to Collateral Allocation Group 1.

• Group 1 Senior Certificates and Group 2 Senior Certificates, as applicable.

• The Group 1 Senior Certificates, the Group 2 Senior Certificates, the Group 3 Senior Certificates or the Group 4 Senior Certificates, as applicable.

• The Group 1 Senior Certificates and the Group 2 Senior Certificates, as applicable.

More Definitions of Group 1 Senior

Group 1 Senior. Certificates: Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10, Class 1-A-11, Class 1-A-12, Class 1-A-13, Class 1-A-14, Class 1-A-15, Class 1-A-16, Class 1-A-17, Class 1-A-18, Class 1-A-19, Class 1-A-20, Class 1-A-21, Class 1-A-22, Class 1-A-23, Class 1-A-24, Class 1-A-25, Class 1-A-26, Class 1-A-27, Class 1-A-28, Class 1-A-29, Class 1-A-30, Class 1-A-31, Class 1-A-32, Class 1-A-R, Class 1-IO and Class 1-PO Certificates.

Group 1 Senior. Percentage: Initially, 94.10

Group 1 Senior. Optimal Principal Amount, Group 2 Senior Optimal Principal Amount, Group 3 Senior Optimal Principal Amount, Group 4 Senior Optimal Principal Amount, Group 5 Senior Optimal Principal Amount and Group 6 Senior Optimal Principal Amount: With respect to each Distribution Date and the Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Senior Certificates (other than the Interest Only Certificates), an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amount of the Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Senior Certificates, as applicable, immediately prior to such Distribution Date):

Group 1 Senior. Certificates: Class CB-1, Class CB-2, Class CB-3, Class CB-4, Class CB-5, Class CB-6, Class CB-7, Class CB-8, Class CB-9, Class CB-10, Class CB-11, Class CB-12, Class CB-13, Class CB-14, Class CB-15, Class CB-16, Class CB-17, Class CB-18, Class CB-R, Class CB-IO and Class CB-PO Certificates.