Group 6 Mortgage Loans definition
Examples of Group 6 Mortgage Loans in a sentence
The pass-through rate with respect to the Class 6-A-M1 Interest shall be a per annum rate equal to the weighted average of the Net Mortgage Rates on the Group 6 Mortgage Loans.
The pass-through rate with respect to the Class L-6B Interest and Class L-6Q Interest shall be a per annum rate equal to the weighted average of the Net Mortgage Rates on the Group 6 Mortgage Loans.
On any Distribution Date on which the aggregate Stated Principal Balance of the Group 6 Mortgage Loans is equal to 10% or less of the Aggregate Group 6 Collateral Balance as of the Cut-off Date, the Terminating Entity will have the option to repurchase, in whole, from the Trust Fund all remaining Group 6 Mortgage Loans and all property acquired in respect of such Mortgage Loans at a purchase price determined as provided in the Agreement.
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 6 Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group 6 Mortgage Loans as of the beginning of the related Due Period.
If the proceeds with respect to the Group 6 Mortgage Loans are not sufficient to pay all of the Group 6 Senior Certificates in full, any such deficiency will be allocated first, to the Subordinate Certificates, in inverse order of their numerical designation, then to the Senior Mezzanine Certificates, and then to the Group 6 Senior Certificates on a pro rata basis.
With respect to the Group 6 Mortgage Loans and the Group 8 Mortgage Loans, the Depository Accounts and the Custodial Accounts will be maintained by BANA in BANA’s name as subservicer for Client and BANA will have the responsibility for maintaining such accounts in accordance with Applicable Requirements.
On each Distribution Date, ▇▇▇▇▇▇ ▇▇▇ shall withdraw from the portion of the Base Trust Account relating to the Group 6 Mortgage Loans, the Group 6 Distribution Amount distributable on the Group 6 Class, and shall make the distributions to the Holders of the Group 6 Class in the amounts and in the manner determined as provided herein.
The pass-through rate with respect to the Class LB-6B Interest and Class LB-6Q Interest shall be a per annum rate equal to the weighted average of the Net Mortgage Rates on the Group 6 Mortgage Loans.
Lower-Tier REMIC B will consist of the Group 6 Mortgage Loans, any related REO Property and all proceeds thereof (other than any Class P Prepayment Charges) in the Distribution Account and will be evidenced by the Lower-Tier REMIC B Regular Interests (which will be uncertificated and will represent the "regular interests" in Lower-Tier REMIC B) and the Class A-LRB Interest as the single "residual interest" in Lower-Tier REMIC B.
The pass-through rate with respect to the Class 6-A-M1 Interest shall be the Net WAC for the Group 6 Mortgage Loans.