Examples of Group II Offered Certificates in a sentence
The Class II-S Floating Allocation Percentage of Charge-Off Amounts on the Group II HELOCs will be applied on any Distribution Date to the Class II-S Certificates Once Charge-Off Amounts have been allocated to a Class of Group II Offered Certificates, such amounts with respect to such Certificates will no longer accrue interest nor will such amounts in respect of interest be reinstated thereafter.
No later than the initial Distribution Date, the Depositor shall pay to the Trustee an amount equal to (i) in the case of the Group I Certificates, $25,000, which shall be deposited by the Trustee into the Adjustable Rate Supplemental Fund for the benefit of the Group I Certificates and (ii) in the case of the Group II Offered Certificates, $25,000, which shall be deposited by the Trustee into the Adjustable Rate Supplemental Fund for the benefit of the Group II Offered Certificates.
Pursuant to Section 6.01, on the initial Distribution Date, amounts on deposit in the Adjustable Rate Supplemental Fund will be withdrawn from the Adjustable Rate Supplemental Fund and paid to the Group I Certificates (other than the Class I-X Certificates) and the Group II Offered Certificates, as applicable, to the extent that Current Interest on such Certificates on the initial Distribution Date is reduced by application of the related Net Rate Cap on such initial Distribution Date.
All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement.
The rights of the Group II Offered Certificates to receive payments in excess of the Net Rate Cap will represent, for federal income tax purposes, separate contractual rights coupled with REMIC regular interests within the meaning of Treasury regulation ss.
The Group II Pooling Tier REMIC-1 shall hold as assets the assets relating to Loan Group II (exclusive of (i) the Group II Interest Rate Swap Agreement, (ii) the Group II Supplemental Interest Account, (iii) the Group II Excess Reserve Fund Account, and (iv) the right of the Group II Offered Certificates to receive Group II Basis Risk Carry Forward Amounts and, without duplication, Group II Upper Tier Carry Forward Amounts and the obligation to pay Class II-IO Shortfalls).
No later than the Closing Date, the Paying Agent shall establish and maintain in the name of the Holders of the Group II Offered Certificates, the Final Maturity Reserve Account as a segregated trust account.