Senior Subordinate Certificates definition

Senior Subordinate Certificates. The Class B1, Class B2 and Class B3 Certificates.

Senior Subordinate Certificates. The Subordinate Certificates other than the Junior Subordinate Certificates. Servicer: A mortgage loan servicing institution to which the Master Servicer has assigned servicing duties with respect to any Mortgage Loan under a Selling and Servicing Contract; provided, however, the Master Servicer may designate itself or one or more other mortgage loan servicing institutions as Servicer upon termination of an initial Servicer's servicing duties.

Senior Subordinate Certificates. The Class M-1, Class M-2, Class M-3, Class M-4, Class B-1 and Class B-2 Certificates.

Examples of Senior Subordinate Certificates in a sentence

• Each of the Class A and Senior Subordinate Certificates shall be issued in fully registered, book-entry form and shall be Book-Entry Certificates.

• Senior Subordinate Certificates: The Subordinate Certificates other than the Junior Subordinate Certificates.

• Each of the Senior Certificates and the Senior Subordinate Certificates shall be issued in fully-registered, book-entry form and shall be Book-Entry Certificates.

• The Class A and Senior Subordinate Certificates, beneficial ownership and transfers of which shall be made through book entries as described in Section 5.07.

• Thus, each Class of Class A and Senior Subordinate Certificates shall be treated as representing not only ownership of regular interests in REMIC III, but also ownership of an interest in, and obligations with respect to, a notional principal contract.

More Definitions of Senior Subordinate Certificates

Senior Subordinate Certificates. The Class M, Class B-1, and Class B-2 Certificates, collectively.

Senior Subordinate Certificates. As specified in the Preliminary Statement.

Senior Subordinate Certificates. The Subordinate Certificates other than the Junior Subordinate Certificates.

Senior Subordinate Certificates. The Class M, B-1 and B-2 Certificates, collectively. Servicer: ABN AMRO Mortgage Group, Inc., a Delaware corporation, or any successor thereto appointed as provided pursuant to Section 7.5, acting to service and administer such Loans pursuant to Section 3.1.

Senior Subordinate Certificates. The Subordinate Certificates other than the Junior Subordinate Certificates. Servicer: [____], or any successor thereto appointed as provided pursuant to Section 7.02, acting to service and administer the Mortgage Loans pursuant to Section 3.01.

Senior Subordinate Certificates. The Class IB-1, Class IB-2, Class IB-3, Class IIB-1, Class IIB-2 and Class IIB-3 Certificates.

Senior Subordinate Certificates. The Subordinate Certificates other than the Junior Subordinate Certificates. Servicer: A mortgage loan servicing institution to which the Master Servicer has assigned servicing duties with respect to any Mortgage Loan under a Selling and Servicing Contract; provided, however, the Master Servicer may designate itself or one or more other mortgage loan servicing institutions as Servicer upon termination of an initial Servicer’s servicing duties. Servicing Fee: The monthly fee paid to the Servicer to perform primary servicing functions for the Master Servicer with respect to the Mortgage Loans, consisting of (A) for each Mortgage Loan, a fixed fee (the fixed portion of the Servicing Fee) equal to 1/12 of the product of (i) the Fixed Servicing Fee Rate for such Mortgage Loan and (ii) the outstanding Principal Balance of such Mortgage Loan and (B) a variable fee (the variable portion of the Servicing Fee) equal to the distributions on the Variable Servicing Interest. In addition, any prepayment penalty received on a Mortgage Loan will be paid as additional servicing compensation to the Master Servicer or the related Servicer.