Group IV Subordinate Certificates definition

Group IV Subordinate Certificates. The Class IV-M-1, Class IV-M-2, Class IV-M-3 and Class IV-X Certificates. Index: With respect to any Mortgage Loan and each related Adjustment Date, the index as specified in the related Mortgage Note. Indirect Participants: Entities, such as banks, brokers, dealers and trust companies, that clear through or maintain a custodial relationship with a Participant, either directly or indirectly.

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

Group IV Subordinate Certificates. As set forth in the Preliminary Statement.

Examples of Group IV Subordinate 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.

• Subordination: The Class IV-A-1 Certificates will have a payment priority over the Group IV Subordinate Certificates.

• Each class of Group IV Subordinate Certificates will be subordinate to each other class of subordinate certificates with a higher payment priority.

• If there is no overcollateralization at that time, losses on the mortgage loans will be allocated to the Group IV Subordinate Certificates, in the reverse order of their priority of payment, until the principal amount of each class of Group IV Subordinate Certificates is reduced to zero.

More Definitions of Group IV Subordinate Certificates

Group IV Subordinate Certificates. The Class IV-M-1, Class IV-M-2 and Class IV-X Certificates. Index: With respect to any Mortgage Loan and each related Adjustment Date, the index as specified in the related Mortgage Note. Indirect Participants: Entities, such as banks, brokers, dealers and trust companies, that clear through or maintain a custodial relationship with a Participant, either directly or indirectly. Initial Bankruptcy Loss Coverage Amount: $146,991. Initial Cash Deposit Amount: $210,250.96 The Initial Cash Deposit Amount shall be part of the Available Distribution Amount for the first Distribution Date.