Senior Certificate Group definition
Examples of Senior Certificate Group in a sentence
As to a Senior Certificate Group and any Distribution Date during the seven years beginning on the first Distribution Date, 100%.
If any Senior Certificate Group is no longer outstanding, the interest portion of any Realized Loss for the related Mortgage Loan Group shall be reallocated to the remaining Senior Certificates, pro rata based on the Accrued Certificate Interest thereon for such Distribution Date.
Any excess deficiency allocable to each Mortgage Loan Group will be applied to reduce first, one month’s interest owed at the applicable Pass-Through Rate on, and second, the aggregate Current Principal Amount owed in respect of the related Senior Certificate Group.
On each Distribution Date, the Net Deferred Interest for each Loan Group will be allocated as follows: the Senior Percentage of that Net Deferred Interest will be allocated, in the aggregate, to the Senior Certificates in the related Senior Certificate Group and the Subordinated Percentage of that Net Deferred Interest will be allocated, in the aggregate, to the Subordinated Certificates.
If more than one such Senior Certificate Group exists, such amounts shall be allocated to the Senior Principal Certificates of the Senior Certificate Groups pro rata, based upon the Current Principal Amount of each such Senior Principal Certificate as a percentage of the aggregate Current Principal Amount of all Senior Principal Certificates, in each case immediately prior to such Distribution Date.