Class Interest definition

Class Interest. A regular interest in the Lower-Tier REMIC entitled to monthly distributions payable thereto pursuant to Section 4.1.
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Class Interest. Shortfall As to any Distribution Date and any Class of Offered Certificates, the amount by which the amount described in the definition of Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date.
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Class Interest. Rate Swap Class A - Not applicable. Class B - Not applicable. Interest Rate Swap Counterparty Not applicable. Class Currency Swap Class A - Not applicable. Class B - Not applicable. Currency Swap Counterparty Not applicable. Currency Swap Downgrade Trigger Not applicable. Minimum Investor Certificate Ratings Class A - Not applicable. Class B - Not applicable. Currency Swap Dollar Escrow Account Not applicable. Class Foreign Currency Distribution Account Not applicable. Foreign Depository Not applicable. Foreign Currency Not applicable. Foreign Business Day Not applicable. Escrow Agent Not applicable. Escrow Agreement Not applicable. Initial Exchange Date Not applicable. Second Exchange Date Not applicable. LIBOR Determination Date The second LIBOR Business Day immediately preceding the commencement of an Interest Accrual Period. Series Yield Factor Initially zero, but may be increased pursuant to Section 26. Series Cut-Off Date January 1, 2000. Series Closing Date January 27, 2000. Date from which Interest for First Interest Series Closing Date. Payment Date Shall Accrue Distribution Dates February 15, 2000 and the 15th day of each calendar month thereafter (or, if such day is not a Business Day, the next succeeding Business Day). Interest Payment Dates The 15th day of each month (or, if such day is not a Business Day, the next succeeding Business Day), commencing in February 2000. Statement Dates Each Distribution Date, commencing in February 2000. Principal Payment Date Not applicable. Interest Calculation Dates Not applicable. Accumulation Commencement Date Not applicable. Accumulation Period Unless an Amortization Event shall have occurred prior thereto, the period commencing on the Principal Commencement Date and ending on the earliest to occur of (x) the payment in full of the Series Invested Amount, (y) the Amortization Commencement Date, and (z) the Series Termination Date.
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Examples of Class Interest in a sentence

  • Terms of the Notes: [Class ] [Class ] [Class ] Interest Payment Dates: , , and , commencing , .

  • The Trustee shall not permit the creation of any “interests” in each Trust REMIC (within the meaning of Section 860G of the Code) other than the REMIC I Regular Interests, REMIC II Regular Interests, Class [____] Interest and the interests represented by the Certificates.

  • For the purposes of the REMIC election in respect of REMIC I, the REMIC I Regular Interests shall be designated as the “regular interests” in REMIC I and the Class [____] Interest shall be designated as the “residual interest” in REMIC I.

  • The Class [__] Interest will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein).

  • The Class [____] Certificates, the [ ] Certificates, the Class [____] Certificates, the Class [____] Certificates, Class [____] Interest and the Class [____] Certificates (exclusive of any right to receive payments from the Reserve Fund) shall be designated as the “regular interests” in REMIC III and the Class [____] Interest shall be designated as the “residual interest” in REMIC III.


More Definitions of Class Interest

Class Interest. Rate Swap Class A - Not applicable. Class B - Not applicable. Interest Rate Swap Counterparty Not applicable. Class Currency Swap Class A - Not applicable. Class B - Not applicable. Currency Swap Counterparty Not applicable. Currency Swap Downgrade Trigger Not applicable. Minimum Investor Certificate Ratings Class A - Not applicable. Class B - Not applicable. Currency Swap Dollar Escrow Account Not applicable. Class Foreign Currency Distribution Account Not applicable. Foreign Depository Not applicable. Foreign Currency Not applicable. Foreign Business Day Not applicable. Escrow Agent Not applicable. Escrow Agreement Not applicable. Initial Exchange Date Not applicable. Second Exchange Date Not applicable. LIBOR Determination Date The second LIBOR Business Day immediately preceding the commencement of an Interest Accrual Period. Series Yield Factor Initially zero, but may be increased pursuant to Section 26.
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Class Interest. The uncertificated residual interest in REMIC [__].
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Class Interest. Rate Swap Class A - Not applicable. Class B - Not applicable. Interest Rate Swap Counterparty Not applicable. Class Currency Swap Class A - Not applicable. Class B - Not applicable. Currency Swap Counterparty Not applicable. Currency Swap Downgrade Trigger Not applicable. Minimum Investor Certificate Ratings Class A - Not applicable. Class B - Not applicable. Currency Swap Dollar Escrow Account Not applicable. Class Foreign Currency Distribution Account Not applicable. Foreign Depository Not applicable. Foreign Currency Not applicable. Foreign Business Day Not applicable. Escrow Agent Not applicable. Escrow Agreement Not applicable.
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Class Interest has the meaning set forth in Section 2.4(a).
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Class Interest means an Interest in the particular Class of Interests identified.
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Class Interest. The Upper-Tier Regular Interest held by the Class [ ] REMIC as specified and described in the Preliminary Statement and the related footnote thereto.
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Class Interest. As described in the Preliminary Statement.
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