Group 2 Senior definition

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

Group 2 Senior. PERCENTAGE: Initially, 96.90%. 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 2 Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group 2 Mortgage Loans as of the beginning of the related Due Period.

Group 2 Senior. Certificates: Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6, Class 2-A-7, Class 2-A-8 and Class 2-A-9 Certificates.

Examples of Group 2 Senior in a sentence

• See the definition of “Group 1 Senior Prepayment Percentage or Group 2 Senior Prepayment Percentage”.

• If the proceeds with respect to the Group 2 Mortgage Loans are not sufficient to pay all of the Group 2 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 2 Senior Certificates on a pro rata basis.

• Group 2 Senior Certificates and the portions of the Subordinated Certificates related to Loan Group 2.

• 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.

More Definitions of Group 2 Senior

Group 2 Senior. Certificates: Class 2-A-1 and Class 15-IO Certificates. Holder: A Certificateholder.

Group 2 Senior. Percentage: Initially, 96.75

Group 2 Senior. Certificates: Class 2-A-1, Class 2-A-2, Class 2-A-3 and Class 2-A-4 Certificates. Group 3: The Group 3 Senior Certificates.

Group 2 Senior. Certificates: Class 2-NC-1, Class 2-NC-2 and Class 2-NC-WIO Certificates.

Group 2 Senior. Certificates: Collectively, the Class A2, Class A3, Class A4, Class A5, Class A6 and Class A7 Certificates. Holder or Certificateholder: The registered owner of any Certificate as recorded on the books of the Certificate Registrar except that, solely for the purposes of taking any action or giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Trustee, the Master Servicer, the Servicer or the Credit Risk Manager or any Affiliate thereof shall be deemed not to be outstanding in determining whether the requisite percentage necessary to effect any such consent has been obtained, except that, in determining whether the Trustee shall be protected in relying upon any such consent, only Certificates which a Responsible Officer of the Trustee knows to be so owned shall be disregarded. The Trustee and any NIMS Insurer may request and conclusively rely on certifications by the Depositor, the Master Servicer, the Servicer or the Credit Risk Manager in determining whether any Certificates are registered to an Affiliate of the Depositor, the Master Servicer, the Servicer or the Credit Risk Manager. After a Section 7.01(c) Purchase Event, other than in Sections 5.02(b) through (g) and 11.03(a) and (b) and, except in the case of the Class LT-R Certificates, Sections 3.03, 3.04, 3.05, 3.06, 3.07 and 3.09 herein, all references in this Agreement to “Holder” or “Certificateholder” shall be deemed to be references to the LTURI-holder, as recorded on the books of the Certificate Registrar, as holder of the Lower Tier Uncertificated REMIC 1 Regular Interests. HUD: The United States Department of Housing and Urban Development, or any successor thereto.

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

Group 2 Senior. Certificates: Class 2-NC-1 and Class NC-IO Certificates. Holder: A Certificateholder.