Class X-1 Certificates definition

Class X-1 Certificates. The Certificates designated as “Class X-1” on the face thereof in substantially the form attached hereto as Exhibit A.
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Class X-1 Certificates. The Class X-1 Certificates created pursuant to Section 3 hereof.
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Class X-1 Certificates. The Class X-1 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-21, representing the right to distributions as set forth herein.
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Examples of Class X-1 Certificates in a sentence

  • 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 Notional Amount of this Certificate specified on the face hereof by the initial aggregate Notional Amount of the Class X-1 Certificates.

  • Subject to the terms of the Pooling and Servicing Agreement, the Class X-1 Certificates will be issued in denominations of $100,000 initial Notional Amount and in any whole dollar denomination in excess thereof.

  • Thus, each Certificate other than the Class X-1 Certificates shall be treated as representing ownership of not only REMIC Regular Interests, but also ownership of an interest in an interest rate cap contract.

  • Net Deferred Interest will not be allocated to the Class X-1 Certificates.

  • The Trustee and the Securities Administrator shall treat the rights of the Holders of the Class X-1 Certificates to receive distributions from the Reserve Fund to cover any related Required Reserve Fund Deposits as payments under a cap contract written by the Holders of the Class X-2 Certificates in favor of the Holders of the Class X-1 Certificates.

  • Any net investment earnings on such amounts shall be payable to the Holder of the Class X-1 Certificates on each Distribution Date.

  • Subject to the terms of the Pooling and Servicing Agreement, the Class X-1 Certificates will be issued in book-entry form through the facilities of DTC in Denominations of not less than $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

  • Any portion of such Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-1 Certificates.

  • On each Distribution Date any portion of the Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-1 Certificates.

  • On the final Distribution Date, the Overcollateralization Amount shall be distributed to the Class X-1 Certificates in accordance with Section 4.02(b)(iv)O.


More Definitions of Class X-1 Certificates

Class X-1 Certificates. The Class X-1 Certificates substantially in the form of Exhibit A to the Trust Agreement.
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Class X-1 Certificates. All Certificates bearing the class designation of "Class X-1".
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Class X-1 Certificates. Any one of the Class X-1 Certificates executed, authenticated and delivered by the Trust Administrator, substantially in the form annexed hereto as Exhibit A-5 and evidencing (1) a Regular Interest in REMIC IV for purposes of the REMIC Provisions, (2) the right to receive the related Net WAC Rate Carryover Amount and (3) the obligation to pay any Class IO Distribution Amount.
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Related to Class X-1 Certificates