Examples of Group 2 Notes in a sentence
If the Issuer elects to exercise the Group 1 Early Redemption Option with respect to the Group 1 Notes or the Group 2 Early Redemption Option with respect to the Group 2 Notes, the Issuer shall give written notice by an Authorized Officer of its intention to exercise such option to the Global Agent of the principal amount of the related Notes to be so redeemed in accordance with the Terms applicable to such Notes.
On such Payment Date, Xxxxxx Mae shall pay 100% of the outstanding Class Principal Balance of each Class of Group 2 Notes, plus accrued and unpaid interest on such Notes, together with any related unpaid fees and expenses of the Global Agent.
Similarly, upon the occurrence of Modification Events affecting the Reference Obligations in Group 2 and to the extent that losses are realized with respect thereto, the interest entitlements of the Group 2 Notes will be subject to reduction and the Class Principal Balances thereof will be subject to write-downs as further described under "Allocation of Modification Loss Amounts—Group 2" below.
Similarly, upon the occurrence of Credit Events affecting the Reference Obligations in Group 2 and to the extent that losses are realized with respect thereto, the Class Principal Balances of the Group 2 Notes will be subject to write-downs as further described under "Allocation of Tranche Write-down Amounts—Group 2" below.
Group 2 Notes ...........................................................
The Issuer has entered into this Indenture, and the Notes will be issued, with the intention that, for federal, state and local income, single business and franchise tax purposes, the Notes will be treated as indebtedness for purposes of such taxes and in addition, for federal tax purposes, the Group 2 Notes will qualify as regular interests in a REMIC as defined in the Code.
The Issuer, by entering into this Indenture, and each Noteholder, by its acceptance of its Note (and each Beneficial Owner by its acceptance of an interest in the applicable Book-Entry Note), agree to treat the Notes for federal, state and local income, single business and franchise tax purposes as indebtedness for purposes of such taxes and in addition, for the Group 2 Notes, as regular interests in a REMIC as defined in the Code.
Korthoff and Barbara Korthoff paid the Company $1,176,162 representing the entire principal of the Korthoff Group 1 Note and Korthoff Group 2 Notes.
In the event that any of the Group 1 Notes, Group 2 Notes or Group 3 Notes constitutes an Undercollateralized Group (or Groups) on any Payment Date following the Senior Credit Support Depletion Date, an Undercollateralization Payment will be made from the excess of the Available Funds from the Overcollateralized Group (or Groups) remaining after all required amounts have been paid to the related Class or Classes of Offered Notes of such Overcollateralized Group.
Hypothetical Allocations of Principal Collections Specified Credit EventsFannie Mae pays interest and principal on the Group 2 Notes, subject to reduction for Credit Events and Modification Events on the Reference Obligations in Loan Group 2, as described herein.*Shown for illustrative purposes only.