Class M Certificate Clause Samples
The Class M Certificate clause defines the rights and obligations associated with a specific class of certificates, typically within a structured finance or securitization transaction. This clause outlines the characteristics of the Class M Certificate, such as its payment priority, interest entitlements, and any subordination to other classes of certificates. For example, Class M Certificates may receive payments only after senior classes have been paid, and may absorb losses before more senior tranches. The core function of this clause is to clearly allocate cash flows and risks among different classes of investors, ensuring transparency and predictability in the distribution of payments and losses.
Class M Certificate. 18 Class M-1 Certificate..................................................................18 Class M-1 Interest Distribution Amount.................................................18 Class M-1 Principal Distribution Amount................................................18 Class M-2 Certificate..................................................................19 Class M-2 Interest Distribution Amount.................................................19 Class M-2 Principal Distribution Amount................................................19 Class M-3 Certificate..................................................................19 Class M-3 Interest Distribution Amount.................................................20 Class M-3 Principal Distribution Amount................................................20 Class M-4 Certificate..................................................................20 Class M-4 Interest Distribution Amount.................................................20 Class M-4 Principal Distribution Amount................................................21 Class M-5 Certificate..................................................................21 Class M-5 Interest Distribution Amount.................................................21 Class M-5 Principal Distribution Amount................................................22 Class M-6 Certificate..................................................................22 Class M-6 Interest Distribution Amount.................................................22 Class M-6 Principal Distribution Amount................................................23 Class M-7 Certificate..................................................................23 Class M-7 Interest Distribution Amount.................................................23 Class M-7 Principal Distribution Amount................................................24 Class M-8 Certificate..................................................................24 Class M-8 Interest Distribution Amount.................................................24 Class M-8 Principal Distribution Amount................................................25 Class M-9 Certificate..................................................................25 Class M-9 Interest Distribution Amount.................................................25 Class M-9 Principal Distribution Amount................................................26
Class M Certificate evidencing a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial, multifamily and manufactured housing community mortgage loans (the "Mortgage Loans"), all payments on or collections in respect of the Mortgage Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee's rights under the Insurance Policies, any Assignment of Leases, and any guaranties, escrow accounts or other collateral as security for the Mortgage Loans, and such amounts as shall from time to time be held in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Floating Rate Accounts, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2007-LDP10 THIS ▇▇▇▇▇▇▇▇▇▇E ▇▇▇▇ NOT REPRESENT AN OBLIGATION OF OR INTEREST IN J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP., THE MASTER SERV▇▇▇▇▇, ▇▇▇ SPECIAL SERVICER, THE CO-TRUSTEE, THE TRUSTEE OR ANY OF THEIR AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES. THIS CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class M Certificates issued by the Trust Fund created pursuant to the Pooling and Servicing Agreement, dated as of March 1, 2007 (the "Pooling and Servicing Agreement"), among J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (hereinafter cal▇▇▇ ▇▇▇ "▇▇p▇▇▇▇▇r", which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Co-Trustee, the Master Servicers and the Special Servicer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement. This Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the "Certificates") and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance of the Class M Certificates. The Certificates are designated as the J.P. MORGAN CHASE CO...
Class M Certificate. 12 NY1-214364.4 i Page
Class M Certificate. 5 Class B-1 Certificate..........................................5
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Class M Certificate. 11 Class M Net WAC Cap Rate.....................................................11 Class M Net WAC Cap Shortfall................................................11 Class M Net WAC Cap Shortfall Carry-Forward Amount...........................12 Class M-1 Certificate........................................................12 Class M-1 Interest Distribution Amount.......................................12 Class M-1 Principal Distribution Amount......................................12 Class M-2 Certificate........................................................12 Class M-2 Interest Distribution Amount.......................................13 Class M-2 Principal Distribution Amount......................................13 Class M-3 Certificate........................................................13 Class M-3 Interest Distribution Amount.......................................13 Class M-3 Principal Distribution Amount......................................14 Class M-4 Certificate........................................................14 Class M-4 Interest Distribution Amount.......................................14 Class M-4 Principal Distribution Amount......................................14 Class M-5 Certificate........................................................15 Class M-5 Interest Distribution Amount.......................................15 Class M-5 Principal Distribution Amount......................................15