Group 2 Certificates definition
Examples of Group 2 Certificates in a sentence
If the proceeds with respect to the Group 2 Mortgage Loans are not sufficient to pay all of the Group 2 Certificates in full, any such deficiency will be allocated first, to the Subordinate Certificates, in inverse order of their numerical designation, and then to the Group 2 Senior Certificates on a pro rata basis.
The Group 2 Net WAC Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Group 2 Certificates of Net WAC Rate Carryover Amounts with respect to any Class of Group 2 Certificates will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1).
Immediately following the deposit of funds in trust hereunder in respect of each of the Group 1 Certificates and the Group 2 Certificates, the Trust Fund shall terminate.
A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs for the benefit of the Group 2 Certificates.
On each Distribution Date as to which there is Net WAC Rate Carryover Amount for any Class of Group 2 Certificates, the Trustee is hereby directed to, and shall therefore, deposit into the Group 2 Net WAC Reserve Fund an amount equal to the Net WAC Rate Carryover Amount for each affected Class of Group 2 Certificates pursuant to Section 4.01(b)(3)(v).