Lowest Priority Certificates definition

Lowest Priority Certificates. The most subordinate class of certificates issued under the Pooling and Servicing Agreement that is outstanding from time to time. If the Lowest Priority Certificates are reduced to zero as a result of losses or otherwise, and if the Purchaser at that time owns 100% of the most subordinate class of certificates issued under the Pooling and Servicing Agreement then remaining outstanding, then such most subordinate class remaining outstanding shall thereafter be deemed to be the Lowest Priority Certificates for all purposes of this Agreement.
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Examples of Lowest Priority Certificates in a sentence

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series [ ], Class [ ] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series [_____], Class [_____] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series [_______], Class [_____] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series 2006-6, Class [ ] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series 2006-AR16, Class [_____] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Asset-Backed Pass-Txxxxxh Certificates, Series [_____], Class [_____] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series 2006-AR4, Class [ ] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • The Purchaser is the holder of the entire interest in Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certifxxxxxs, Series 2006-AR11, Class [_____] (the "Class B Certificates"), which are the Lowest Priority Certificates (as defined below) outstanding with respect to such Series.

  • In connection with any Mortgage Loan identified in a Delinquency Report under Section 2.01(a)(ii), the Purchaser, for so long as the Purchaser owns 100% of the Lowest Priority Certificates, may elect to instruct the Company to cause, to the extent that the Company as Master Servicer is granted such authority in the related Servicing Agreement, the related Servicer to proceed with the Commencement of Foreclosure as soon as practicable.

  • She was previously employed as an arborist at University of Hawaii’s Lyon Arboretum where she still does volunteer tree work.

Related to Lowest Priority Certificates

  • Security Certificate Has the meaning given such term in Section 8-102(a)(16) of the New York UCC.

  • Preferred Security Certificate means a certificate representing a Preferred Security substantially in the form of Exhibit A-1.

  • Capital Security Certificate means a definitive Certificate in fully registered form representing a Capital Security substantially in the form of Exhibit A-1.

  • Common Security Certificate means a definitive certificate in fully registered form representing a Common Security substantially in the form of Exhibit A-2.

  • Availability Certificate means a certificate substantially in the form of Annex 3 hereto, appropriately completed and duly signed by your Authorized Officer.

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Delay Certificates As specified in the Preliminary Statement.

  • Subordinate Certificates As specified in the Preliminary Statement.

  • COFI Certificates As specified in the Preliminary Statement.

  • Class B Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates.

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Class B-5 Certificates The Certificates designated as “Class B-5” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Group III Certificates The Group III-A Certificates.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • Class B-4 Certificates The Certificates designated as “Class B-4” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class A-1 Certificates All Certificates bearing the class designation of "Class A-1".

  • Group I Certificates The Class A-1 Certificates.

  • Group 4 Certificates As specified in the Preliminary Statement.

  • Private Certificates As specified in the Preliminary Statement.

  • Class A-V Certificate Any one of the Certificates designated as a Class A-V Certificate, including any Subclass thereof.

  • Majority Certificateholders The Holders of Certificates evidencing at least 51% of the Voting Rights.

  • Class P Certificates All Certificates bearing the class designation of "Class P".

  • Class J Certificate means any one of the Certificates with a "Class J" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class B-3 Certificates All Certificates bearing the class designation of "Class B-3".

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

  • Group 3 Certificates As specified in the Preliminary Statement.