Group 3 Senior definition

Group 3 Senior. Certificates: Class 3-A-1 Certificates.
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Group 3 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 Current Principal Amount of the Group 3 Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group 3 Mortgage Loans as of the beginning of the related Due Period.
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Group 3 Senior. Certificates: Class 3-A-1, Class 3-PO, Class 3-B-IO and Class 3-IO Certificates.
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Examples of Group 3 Senior in a sentence

  • If on any Distribution Date the allocation to the Group 3-A Certificates of Principal Prepayments in the percentage required would reduce the aggregate Class Principal Balance of such Certificates below zero, the Group 3 Senior Prepayment Percentage for such Distribution Date shall be limited to the percentage necessary to reduce such aggregate Class Principal Balance to zero.

  • If the proceeds with respect to the Group 3 Mortgage Loans are not sufficient to pay all of the Group 3 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 3 Senior Certificates on a pro rata basis.

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

  • If the proceeds with respect to the Group 3 Mortgage Loans are not sufficient to pay all of the Group 3 Senior 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 3 Senior Certificates on a pro rata basis.

  • Group 3 Senior Certificates and the portions of the Subordinated Certificates related to Loan Group 3.

  • Senior Certificate Group....................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, Group 2 Senior Certificates and Group 3 Senior Certificates.

  • See the definition of “Group 1 Senior Prepayment Percentage, Group 2 Senior Prepayment Percentage or Group 3 Senior Prepayment Percentage”.


More Definitions of Group 3 Senior

Group 3 Senior. PERCENTAGE: Initially, 96.25
Sample 1
Group 3 Senior. PERCENTAGE: Initially 97.75%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Current Principal Amounts of all the Group 3 Senior P&I Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Mortgage Loans (other than the PO Percentage) in the related Mortgage Loan Group immediately preceding such Distribution Date. GROUP 1 SENIOR PREPAYMENT PERCENTAGE, GROUP 2 SENIOR PREPAYMENT PERCENTAGE OR GROUP 3 SENIOR PREPAYMENT PERCENTAGE: On any Distribution Date occurring during the periods set forth below, as follows: Period (dates inclusive) Senior Prepayment Percentage ------------------------------------------------------------------------------ March 25, 1998 - February 25, 2003 100% March 25, 2003 - February 25, 2004 Applicable Senior Percentage for the related Certificate Group plus 70% of the applicable Subordinate Percentage for such Certificate Group March 25, 2004 - February 25, 2005 Applicable Senior Percentage for the related Certificate Group plus 60% of the applicable Subordinate Percentage for such Certificate Group March 25, 2005 - February 25, 2006 Applicable Senior Percentage for the related Certificate Group plus 40% of the applicable Subordinate Percentage for such Certificate Group March 25, 2006 - February 25, 2007 Applicable Senior Percentage for the related Certificate Group plus 20% of the applicable Subordinate Percentage for such Certificate Group March 25, 2007 and thereafter Applicable Senior Percentage Notwithstanding the foregoing, if on any Distribution Date the applicable Senior Percentage for a Certificate Group exceeds the applicable Senior Percentage for such Certificate Group as of the Cut-Off Date, the Senior Prepayment Percentage for such Certificate Group for such Distribution Date will equal 100%. On the Distribution Date on which the Current Principal Amounts of the Senior Certificates of a Certificate Group are reduced to zero, the Senior Prepayment Percentage for such Certificate Group shall be the minimum percentage sufficient to effect such reduction and thereafter shall be zero. In addition, no reduction of the applicable Senior Prepayment Percentage for a Certificate Group shall occur on any Distribution Date unless, as of the last day of the month preceding such Distribution Date, (i) the aggregate Scheduled Principal Balance of Mortgage Loans in the related Mortgage Loan Group delinquent 60 days or more...
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Related to Group 3 Senior

  • Group 3 All of the Group 3 Certificates.

  • Group 3 Senior Certificates As specified in the Preliminary Statement.

  • Group 4 All of the Group 4 Certificates.

  • Group 1 Senior Certificates As specified in the Preliminary Statement.

  • Group 2 Senior Certificates As specified in the Preliminary Statement.

  • Group II Senior Percentage For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.

  • Group I Senior Percentage As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group I immediately prior to such Distribution Date.

  • Group II Senior Certificates As specified in the Preliminary Statement.

  • Group 1 All of the Group 1 Certificates.

  • Group 2 All of the Group 2 Certificates.

  • Group I Senior Certificates As specified in the Preliminary Statement.

  • Group 2 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 2 Senior Percentage of the Principal Payment Amount for Loan Group 2, (b) the Group 2 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 2 and (c) the Group 2 Senior Liquidation Amount.

  • Group 1 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

  • Group B means educational improvements for pupils in

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Group A means educational programs for career exploration, a

  • Group II The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group II, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

  • Group Subordinate Amount For a Mortgage Pool and any Distribution Date; the excess of (a) the Pool Principal Balance of such Mortgage Pool for the immediately preceding Distribution Date, over (b) the aggregate Class Certificate Balance of the Senior Certificates of the related Certificate Group immediately prior to that Distribution Date. Index: Not applicable.

  • Group I The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group I, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.

  • Group III All applicants for employment who have had two (2) or more years' experience in the trade, are residents of the geographical area constituting the normal construction labor market area, and who have been employed in the normal construction labor market area for at least six (6) months in the last two and one-half (2½) years in the geographical area covered by the collective bargaining agreement.

  • Group II Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group II Senior Percentage of the Principal Payment Amount for Loan Group II, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group II, and (iii) the Group II Senior Liquidation Amount.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Additional Senior Class Debt has the meaning assigned to such term in Section 5.13.