Group I Class IO Distribution Amount definition

Group I Class IO Distribution Amount. As defined in Section 3.21 hereof. For purposes of clarity, the Group I Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Swap Administrator pursuant to the first and second sentences of Section 3.21(c) on such Distribution Date in excess of the amount payable on REMIC VII Regular Interest IO on such Distribution Date, all as further provided in Section 3.21 hereof.
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Examples of Group I Class IO Distribution Amount in a sentence

  • For federal income tax purposes, such amounts paid to the Group I Supplemental Interest Trust on each Distribution Date shall first be deemed paid to the Group I Supplemental Interest Trust in respect of REMIC VII Regular Interest IO to the extent of the amount distributable on such REMIC VII Regular Interest IO on such Distribution Date, and any remaining amount shall be deemed paid to the Group I Supplemental Interest Trust in respect of a Group I Class IO Distribution Amount.

  • However, any payment from the Group I Certificates (other than the Class I-CE, Class I-P and Class I-R Certificates) of a Group I Class IO Distribution Amount shall be treated for tax purposes as having been received by the Holders of such Certificates in respect of their interests in REMIC IV and as having been paid by such Holders to the Swap Administrator pursuant to the notional principal contract.

  • In addition, notwithstanding the foregoing clause (a)(2), to the extent a Group I Class IO Distribution Amount is payable from principal collections, Principal Distribution Amounts related to Loan Group I will be deemed paid to the most subordinate Class of Group I Regular Certificates (other than the Class I-P Certificates), until the Certificate Principal Balance thereof has been reduced to zero, and such amount will be paid pursuant to Section 3.21(f).

  • However, any payment from the Group I Certificates (other than the Class I-C and Class I-R Certificates) of a Group I Class IO Distribution Amount shall be treated for tax purposes as having been received by the Holders of such Certificates in respect of their interests in REMIC IV and as having been paid by such Holders to the Swap Administrator pursuant to the notional principal contract.

  • For federal income tax purposes, such amounts paid to the Group I Supplemental Interest Trust on each Distribution Date shall first be deemed paid to the Group I Supplemental Interest Trust in respect of REMIC VI Regular Interest IO to the extent of the amount distributable on such REMIC VI Regular Interest IO on such Distribution Date, and any remaining amount shall be deemed paid to the Group I Supplemental Interest Trust in respect of a Group I Class IO Distribution Amount.

  • In addition, notwithstanding the foregoing clause (a)(2), to the extent a Group I Class IO Distribution Amount is payable from principal collections, Group I Principal Distribution Amounts will be deemed paid to the most subordinate Class of Group I Regular Certificates, until the Certificate Principal Balance thereof has been reduced to zero, and such amount will be paid pursuant to Section 4.14(f).

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Related to Group I Class IO Distribution Amount

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Principal Distribution Amount For any Distribution Date, the sum of (i) the Basic Principal Distribution Amount for such Distribution Date and (ii) the Extra Principal Distribution Amount for such Distribution Date.