Last Scheduled Distribution Date definition
Examples of Last Scheduled Distribution Date in a sentence
The Last Scheduled Distribution Date is the Distribution Date in the month following the latest scheduled maturity date of any Mortgage Loan.
In no event, however, will the Trust Fund created by the Agreement continue beyond the earlier of (i) the expiration of 21 years after the death of certain persons identified in the Agreement and (ii) the Last Scheduled Distribution Date.
Certificate No. : Cut-off Date : February 1, 2007 First Distribution Date : March 26, 2007 Percentage Interest : 100% Last Scheduled Distribution Date : evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of a pool of adjustable and fixed rate mortgage loans (the “Mortgage Loans”) secured by first liens on one- to four-family residential properties.
The Last Scheduled Distribution Date is the Distribution Date in the month following the latest scheduled maturity date of any Mortgage Loan and is not likely to be the date on which the Certificate Principal Balance of this Class of Certificates will be reduced to zero.
The following table irrevocably sets forth the designations, the Remittance Rate, initial Class Principal Balance and Last Scheduled Distribution Date for each Class of Certificates which, together with the Class R-3 Component, constitute the entire beneficial interests in REMIC III.