Group II Subordinate Certificate definition

Group II Subordinate Certificate. As set forth in the Preliminary Statement.
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Group II Subordinate Certificate. A Class II-B-1, Class II-B-2, Class II-B-3, Class II-B-4, Class II-B-5 or Class II-B-6 Certificate.
Sample 1
Group II Subordinate Certificate. The Class BV-1 Certificates, Class BV-2 Certificates, Class BV-3 Certificates, Class BV-4 Certificates, Class BV-5 Certificates and Class BV-6 Certificates.
Sample 1

Examples of Group II Subordinate Certificate in a sentence

  • Any such increases shall be applied to the Certificate Principal Balance of each Group II Subordinate Certificate of such Class in accordance with its respective Fractional Undivided Interest.

  • Any allocation of Realized Losses to a Group II Senior Certificate or Group II Subordinate Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made.

  • Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Group II Senior Certificate or Group II Subordinate Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Group II Senior Certificate or Group II Subordinate Certificate in respect of related Realized Losses and (ii) payable as principal to the Holder of such Certificate from Group II Net Monthly Excess Cashflow.

  • On each Distribution Date through the Group II Cross-Over Date, the Current Principal Amount of the lowest ranking Class of Group II Subordinate Certificates then outstanding will be reduced by the amount of any distributions in respect of any Class II-PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Group II Subordinate Certificate Writedown Amount.

  • Accrued interest, if any, on any Group I Subordinate Certificate and Group II Subordinate Certificate shall be calculated based upon a 360-day year consisting of twelve 30-day months.

  • On each Distribution Date through the Group II Cross-Over Date, the Current Principal Amount of the lowest ranking Class of Subordinate Certificates then outstanding will be reduced by the amount of any distributions in respect of any Class II-PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Group II Subordinate Certificate Writedown Amount.

Related to Group II Subordinate Certificate

  • Offered Subordinate Certificates As specified in the Preliminary Statement.

  • Subordinate Certificate Any one of the Class M Certificates or Class B Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and Exhibit C, respectively.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

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

  • Group 1 Certificate Any Class A-1 or Class A-R Certificate.

  • Subordinate Certificates As specified in the Preliminary Statement.

  • Group 2 Certificate Any Class A-2 Certificate.

  • Senior Certificate As defined in the Series Supplement.

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.

  • Group II Certificates The Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates.

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

  • Group III Certificates The Group III-A Certificates.

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Group I Subordinate Percentage For any Distribution Date, the excess of 100% over the Group I Senior Percentage for such date.

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

  • Group 1 Certificates As specified in the Preliminary Statement.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Class I-A-1 Certificate Any Certificate designated as a "Class I-A-1 Certificate" on the face thereof, in the form of Exhibit A-1 hereto, representing the right to the Percentage Interest of distributions provided for the Class I-A-1 Certificates as set forth herein and evidencing a Regular Interest in REMIC II.

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

  • Subordinate Certificate Writedown Amount As to any Distribution Date, the amount by which (i) the sum of the Class Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the application of Realized Losses in reduction of the Certificate Principal Amounts of the Certificates on such Distribution Date) exceeds (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date.

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

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Excess Subordinate Principal Amount With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to Section 4.02(b)(i)(E). With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date.

  • Original Subordinate Principal Balance The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.