Examples of Group IV Certificates in a sentence
Any Applied Loss Amount with respect to the Group IV Certificates allocated to a Class of Group IV Subordinate Certificates shall be allocated among the Group IV Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
The Applied Loss Amount with respect to the Group IV Certificates for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Group IV Subordinate Certificates beginning with the Class of Group IV Subordinate Certificates then outstanding, other than the Class IV-X Certificates, with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero.
This excess interest will be applied to pay principal on the Group IV Certificates in order to create and maintain the required level of overcollateralization.
Overcollateralization: The group IV mortgage loans bear interest each month in an amount that in the aggregate is expected to exceed the amount needed to pay monthly interest on the Group IV Certificates and certain related trust expenses.
Cross-Collateralization: In certain limited circumstances, principal and interest collected from any of the loan group I, II and III mortgage loans may be used to pay principal or interest, or both, to Senior Certificates (other than the Group IV Certificates) unrelated to that loan group.