Examples of Pool 2 Certificates in a sentence
The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Pool 2 Certificates.
On each Distribution Date as to which there is Net WAC Rate Carryover Amount for any Class of Pool 2 Certificates, the Securities Administrator is hereby directed to, and shall therefore, deposit into the Pool 2 Net WAC Reserve Fund an amount equal to the Net WAC Rate Carryover Amount for each affected Class of Pool 2 Certificates pursuant to Section 4.01(a)(3)(xiv).
The Seller, the Depositor, the Servicer and the Holders of the Pool 2 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity.
For any Distribution Date, the REMIC II Net WAC (as adjusted, in the case of any Class of Pool 2 Certificates that accrues interest on a “30/360 basis” or its Corresponding REMIC Regular Interest, to reflect accruals on such basis).
As provided in the Agreement and with certain exceptions therein provided, certain losses on the Mortgage Loans in respect of Pool 2 resulting from defaults by Mortgagors will be borne by the Holders of the Class 2-M, Class 2-B1, Class 2-B2, Class 2-B3, Class 2-B4 and Class 2-B5 Certificates before such losses will be borne by the Holders of the other Classes of the Pool 2 Certificates.
As to each Mortgage Pool and any Distribution Date, the excess of the Pool Balance as of the first day of the preceding calendar month, as reduced by Scheduled Payments due on such day for such Mortgage Pool, over the Class Principal Amount of the Class A1 Certificates (in the case of Pool 1) or the aggregate Class Principal Amount of the Pool 2 Certificates (in the case of Pool 2), in each case, immediately before such Distribution Date.
It is the intention of the Company and the Trustee that (i) the Trust Funds established under this Agreement shall be separate and distinct for all purposes, (ii) all revenues and, except as provided below, expenses relating to the Mortgage Loans or this Agreement shall be allocated exclusively to the Trust Fund to which they relate, and (iii) the holders of the Pool 1 Certificates and the Pool 2 Certificates shall have interests exclusively in the Pool 1 Trust Fund and the Pool 2 Trust Fund, respectively.
The right of the Company to repurchase all the Pool 2 Mortgage Loans and property in respect of such Mortgage Loans is subject to the Scheduled Principal Balance of all the Pool 2 Certificates at the time of repurchase being less than 10 percent of the Scheduled Principal Balance of all the Pool 2 Certificates as of the Cut-off Date.
The Company hereby designates the Pool 2 Certificates, other than the Class 2-R Certificates, as "regular interests," and the Class 2-R Certificates as the single class of "residual interests," in the REMIC for Pool 2 Trust Fund established hereunder for REMIC purposes.
The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Pool 2 Certificates of Basis Risk Shortfall Carryover Amounts with respect to the Pool 2 Certificates will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1).