Sequential Pay Certificates definition

Sequential Pay Certificates. The Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificates, collectively.
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Sequential Pay Certificates. The Class A, Class B, Class C, Class D and Class E Certificates.
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Sequential Pay Certificates. The Certificates other than the Class X and Class R Certificates.
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Examples of Sequential Pay Certificates in a sentence

  • In the event the Servicer or Special Servicer, or a court of competent jurisdiction in connection with a workout or proposed workout of the Whole Loan, modifies the interest rate applicable to the Whole Loan, the aggregate adverse economic effect of the modification (if any) required to be borne by the holders of the Trust Notes pursuant to the Co-Lender Agreement shall be applied to the Sequential Pay Certificates, in reverse order of seniority.

  • If the initial Certificate Balance of any Class of Sequential Pay Certificates does not equal an integral multiple of $1,000, then a single additional Certificate of such Class may be issued in a minimum denomination of authorized initial Certificate Balance that includes the excess of (i) the initial Certificate Balance of such Class over (ii) the largest integral multiple of $1,000 that does not exceed such amount.

  • The Appraisal Reduction Amount for any Distribution Date allocated to the Non-RRI Certificates shall be applied to notionally reduce the Certificate Balances of the Sequential Pay Certificates in the following order of priority: first, to the Class D Certificates, second, to the Class C Certificates, and third, to the Class B Certificates (provided in each case that no Certificate Balance in respect of any such Class may be notionally reduced below zero).

  • The Appraisal Reduction Amount for any Distribution Date shall be applied to notionally reduce the Certificate Balances of the Sequential Pay Certificates in the following order of priority: first, to the Class D Certificates, second, to the Class C Certificates, and third, to the Class B Certificates (provided in each case that no Certificate Balance in respect of any such Class may be notionally reduced below zero).


More Definitions of Sequential Pay Certificates

Sequential Pay Certificates. Any of the Regular Certificates other than the Class IO Certificates.
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Sequential Pay Certificates. The Class A-▇, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, Class A-2C, Class A-2D, Class B, Class C, Class D, Class E, Class F, Class G and Class H Certificates collectively. "Servicing Fee": With respect to each Mortgage Loan and the Montehiedra Partner Loans and for any Distribution Date, an amount equal to the product of (i) the related Servicing Fee Rate (converted to a monthly rate) and (ii) the Stated Principal Balance of such Mortgage Loan or aggregate Stated Principal Balance in the case of the Montehiedra Partner Loans; provided, that such amounts shall be computed on the same basis (i.e., 30/360 or actual/360) as interest is calculated on the related Mortgage Loan or the Montehiedra Partner Loans, as the case may be. Such amount includes the compensation payable to the Master Servicer and the Trustee Fee. With respect to any Distribution Date, to the extent that there are Prepayment Interest Shortfalls with respect to Principal Prepayments received during the related Collection Period, the Servicing Fee to which the Master Servicer would otherwise be entitled to with respect to all the Mortgage Loans for such Distribution Date (but not the fees payable to the Special Servicer, the Trustee or the Rating Agencies) shall be reduced up to the amount sufficient to fully offset such Prepayment Interest Shortfalls.
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Related to Sequential Pay Certificates