Examples of Mezzanine Certificates in a sentence
Upon the issuance of Definitive Certificates for Senior Certificates or Mezzanine Certificates, all references herein to obligations imposed upon or to be performed by the applicable Clearing Agency shall be deemed to be imposed upon and performed by the Trustee, to the extent applicable with respect to such Definitive Certificates, and the Trustee shall recognize the Holders of the Definitive Certificates of related Class as Certificateholders of such Class hereunder.
On each Distribution Date, the Subordinate Certificates are entitled to principal distributions from Principal Collections on the related Mortgage Loans and only after the payment in full of all distributions due on the related Guaranteed Certificates and Mezzanine Certificates on such Distribution Date and the reimbursement to Xxxxxx Xxx of any Guaranty Principal Payments on the related Guaranteed Certificates and of certain advances.
In addition, the rights of the holders of the Mezzanine Certificates with lower payment priorities will be junior to the rights of holders of the Mezzanine Certificates with higher payment priorities, and the rights of the holders of the Mezzanine Certificates to receive distributions in respect of the Mortgage Loans will be senior to the rights of the holders of the Class X Certificates to the extent described in this prospectus supplement.
Any such discrepancy may have an effect upon the percentages of the original Certificate Principal Balances outstanding (and the corresponding weighted average lives) of the Class A and Mezzanine Certificates set forth in the tables.
The effect of these factors may differ as to various Classes of the Senior and Mezzanine Certificates and the effects on any Class may vary at different times during the life of that Class.