Loan Group VII definition

Loan Group VII. All Mortgage Loans identified as Group VII Mortgage Loans on the Mortgage Loan Schedule.
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Loan Group VII. The group of Mortgage Loans comprised of the Group VII Loans.
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Loan Group VII. The Mortgage Loans identified as such on the Mortgage Loan Schedule.
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Examples of Loan Group VII in a sentence

  • If the Trust Administrator receives at least three bids for all of the related Trust Collateral, and one of such bids is equal to or greater than the Par Value, the Trust Administrator shall sell all of the related Trust Collateral for Loan Group VII and Loan Group VIII to the highest bidder (the “Auction Purchaser”) at the price offered by the Auction Purchaser (the “Mortgage Loan Auction Price”).

  • Subsidiary REMIC 2 shall hold as its assets the Mortgage Loans in Loan Group III, Loan Group IV, Loan Group V, and Loan Group VII and all collections and accounts related thereto.

  • The Trust Administrator shall give notice to the Rating Agencies and each Servicer that is Servicing any of the Mortgage Loans in Loan Group VII or Loan Group VIII of the sale of all of the related Trust Collateral for Loan Group VII and Loan Group VIII pursuant to this Section 11.01 (an “Auction Sale”) and of the Auction Date.

  • Subsidiary REMIC 2 will consist of the Loan Group VII Mortgage Loans and will be evidenced by the LT-VII-A Interest, LT-VII-M-1 Interest, LT-VII-M-2 Interest and LT–Accrual Interest, (collectively, the LT-VII-A Interest, LT-VII-M-1 Interest and LT-VII-M-2 Interest, are referred to herein as the “Subsidiary REMIC 2 Accretion Directed Classes” and together with the LT-Accrual Interest, the “Subsidiary REMIC 2 Regular Interests”) and the R-2 Interest as the single “residual interest” in Subsidiary REMIC 2.

  • Subsidiary REMIC 1 shall hold as its assets the Mortgage Loans in Loan Group I, Loan Group II, Loan Group VI and Loan Group VII, and all collections and accounts related thereto.

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group II, Loan Group IV, Loan Group V, and Loan Group VII, and all collections and accounts related thereto.

  • Loan Group: Loan Group I, Loan Group II, Loan Group III, Loan Group IV, Loan Group V, Loan Group VI or Loan Group VII, as applicable.

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group V, Loan Group VI, Loan Group VII, and Loan Group IX and all collections and accounts related thereto.

  • The Trust Administrator shall give notice to the Rating Agencies and each Servicer that is servicing any of the Mortgage Loans in Loan Group I, Loan Group II, Loan Group VII, Loan Group XI or Loan Group XII of the sale of all of the related Trust Collateral for Loan Group I, Loan Group II, Loan Group VII, Loan Group XI and Loan Group XII pursuant to this Section 11.01 (an “Auction Sale”) and of the Auction Date.

  • Such option if not exercised shall not thereafter be reinstated as to any Mortgage Loan related to Loan Group II, Loan Group III, Loan Group IV, Loan Group V, Loan Group VI, Loan Group VII, Loan Group VIII or Loan Group IX, unless the delinquency is cured and the Mortgage Loan thereafter again becomes delinquent in payment by 90 days or more in a subsequent Calendar Quarter.


More Definitions of Loan Group VII

Loan Group VII. The group of Mortgage Loans designated as belonging to Loan Group vII on the Mortgage Loan Schedule.
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Related to Loan Group VII

  • Loan Group IV The group of Mortgage Loans comprised of the Group IV Loans.

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Loan Group 2 The Group 2 Mortgage Loans.

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.

  • Loan Group II Cap With respect to the Group II Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group II Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Undercollateralized Group As defined in Section 4.03.

  • Mortgage Loan Group Either Group I or Group II.

  • Overcollateralized Group As defined in Section 4.03.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Group I The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group I, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.

  • Loan Group 1 Principal Distribution Amount With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 1.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.