Group II Subordinate Certificates definition

Group II Subordinate Certificates. The Class II-B-1, Class II-B-2, Class II-B-3, Class II-B-4, Class II-B-5 and Class II-B-6 Certificates.

Group II Subordinate Certificates. The Class II-B1 Certificates, the Class II-B2 Certificates, the Class II-B3 Certificates, the Class II-B4 Certificates, the Class II-B5 Certificates and the Class II-B6 Certificates.

Group II Subordinate Certificates. As specified in the Preliminary Statement.

Examples of Group II Subordinate Certificates in a sentence

• As a result of the subordination of the Group I Subordinate Certificates and Group II Subordinate Certificates in right of distribution, such Realized Losses on the Group I Mortgage Loans and Group II Mortgage Loans will be borne by the Group I Subordinate Certificates and Group II Subordinate Certificates, respectively, in inverse order of their numerical Class designations.

• If the proceeds with respect to the Group II-1 Mortgage Loans are not sufficient to pay all of the Group II-1 Senior Certificates in full, any such deficiency will be allocated first, to the Group II Subordinate Certificates, in inverse order of their numerical designation and then to the Group II-1 Senior Certificates on a pro rata basis.

• If the proceeds with respect to the Group II-2 Mortgage Loans are not sufficient to pay all of the Group II-2 Senior Certificates in full, any such deficiency will be allocated first, to the Group II Subordinate Certificates, in inverse order of their numerical designation and then to the Group II-2 Senior Certificates on a pro rata basis.

• Any such reduction in the Accrued Certificate Interest on the Group II Subordinate Certificates will be allocated in reverse order of their respective numerical designations, commencing with the Class II-B-6 Certificates.

• If the proceeds with respect to the Group II Mortgage Loans are not sufficient to pay all of the Group II Senior Certificates in full, any such deficiency will be allocated first, to the Group II Subordinate Certificates, in inverse order of their numerical designation and then to the Group II Senior Certificates on a pro rata basis.

More Definitions of Group II Subordinate Certificates

Group II Subordinate Certificates. The Group II Offered Subordinate Certificates and Group II Non-Offered Certificates.

Group II Subordinate Certificates. Collective reference to the Class MV-1 Certificates, the Class MV-2 Certificates and Class BV Certificates.

Group II Subordinate Certificates. The Class M1-II, Class M2-II, Class M3-II, Class M4-II, Class M5-II and Class M6-II Certificates. Group II Subordinate Priority: Distributions to the Class M1-II, Class M2-II, Class M3-II, Class M4-II, Class M5-II and Class M6-II Certificates, sequentially, in that order. Guaranteed Certificate: Not applicable.

Group II Subordinate Certificates. The Class II-M-1, Class II-M-2 and Class II-B Certificates.

Group II Subordinate Certificates. The Class IIM, Class IIB-1, Class IIB-2, Class IIB-3, Class IIB-4 and Class IIB-5 Certificates, collectively, and designated as such on the face thereof in substantially the form attached hereto as Exhibits A-15 through A-20, respectively and for purposes of this Agreement, the "order of seniority" from highest to lowest of such certificates shall be the order designated in the beginning of this definition.

Group II Subordinate Certificates. The Class II-M-1, Class II-M-2, Class II-B and Class II-X Certificates. GreenPoint: GreenPoint Mortgage Funding, Inc., a New York corporation, and its successors and assigns.

Group II Subordinate Certificates. The Class II-B-1, Class II-B-2, Class II-B-3, Class II-B-4, Class II-B-5 and Class II-B-6 Certificates. Group II Subordinate Loss and Delinquency Test: On any Distribution Date, the Group II Subordinate Loss and Delinquency Test is satisfied if, as of the last day of the month preceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Group II Mortgage Loans delinquent 60 days or more (including for this purpose any such Group II Mortgage Loans in foreclosure and Group II Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Group II Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Group II Mortgage Loans do not exceed (a) 30% of the Original Group II Subordinate Principal Balance if such Distribution Date occurs between and including September 2014 and August 2015, (b) 35% of the Original Group II Subordinate Principal Balance if such Distribution Date occurs between and including September 2015 and August 2016, (c) 40% of the Original Group II Subordinate Principal Balance if such Distribution Date occurs between and including September 2016 and August 2017, (d) 45% of the Original Group II Subordinate Principal Balance if such Distribution Date occurs between and including September 2017 and August 2018, and (e) 50% of the Original Group II Subordinate Principal Balance if such Distribution Date occurs during or after September 19, 2018.